Deloitte joins Rwanda’s consultancy competition

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Deloitte, an international consultancy firm, has officially opened an office in Rwanda to join the increasing competition in the assurance, consulting financial operations, tax and risk advisory service in both private and public sectors.

Rwanda has seen a tremendous growth insurance and assurance and consultancy services as the economy continues to show a futuristic prospectus of doing business twenty years after the genocide.

Rwanda was ranked best performer in making it easy to do business and was ranked in position 32 out of 189 countries in the latest World Bank data provided on Doing Business 2014.

Rwanda’s economy is expected to expand by 8 percent, as the country also plans on gripping the inflation rate, which was at an accelerating to 7.5 percent by the end 2013.

Deloitte entry in Rwanda comes after the country showcased signs of improvement in the consultancy sector during the African Association for Public Administration and Management (AAPAM) held last year in Kigali.

Joe Eshun, one of Deloitte partners said that Rwanda has become very attractive center for business due to its good policies and conditions of registering and doing business in general.

Other partners of Deloitte pointed out that besides business the firm will contribute to the development of the citizens by giving back to community, especially supporting vulnerable children and providing sponsorship and internship opportunities to youth.

The company also plans to bring on board other community development initiatives in Rwanda, and so far have trained over ten staff from Rwandan youth as part of capacity building, and promised that they will continue to build capacity at individual and institutional levels.

Figures from the regulator, the National Bank of Rwanda (BNR), re­veal that the Insurance sector grew by 36 percent during the past 12 months ending December 2012 with gross premiums increasing by 67 percent from Rwf45 billion in 2011 to Rwf77 bil­lion. Total assets reached Rwf214 billion up from Rwf157 billion of the previous year.

There have been remarkable new investments in the insurance sector since the enactment of a regulatory law in 2009 – which has seen leading insurers, UAP Group with operations in Uganda, South Sudan and DR Congo, entering the Rwan­dan market last year, Phoenix Assurance and with the lat­est entrant is Radiant Insurance – a local company.

 

 

 

 

 

 

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

More posts by | Visit the site of Ndaka

 

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