Rwandan President Paul Kagame has emphasized the need for a change in mindset regarding investments in developing countries within the Commonwealth. Speaking at the 28th Commonwealth Heads of Government Meeting (CHOGM 2026) in Antigua and Barbuda, Kagame stressed that the current perception of investing in developing nations as high-risk compared to developed countries is outdated and inaccurate. He highlighted the importance of collaboration between governments and the private sector to attract investment and accelerate development.
The CHOGM 2026 meeting, which brought together leaders from 30 countries, focused on necessary changes in policies and operations to address development challenges and capitalize on available opportunities. Kagame shared his insights alongside Jamaica's Prime Minister Andrew Holness and Samoa's Deputy Prime Minister Mulipola Anarosa Ale Molioʻo. The leaders discussed ways to create a conducive environment for investment, with Kagame emphasizing that investing in developing countries carries risks, but these can be mitigated through partnerships and effective risk management strategies.
President Kagame pointed out that the Commonwealth can play a significant role in changing the perception that developing countries are high-risk investment destinations. He cited Rwanda as an example of a country that, despite being landlocked and without oil reserves, has achieved high economic growth. Kagame suggested that developing countries can attract investment by showcasing viable projects with potential returns and by streamlining processes for investors.
The discussion also touched on the challenges faced by small countries in attracting investment, given concerns about market size, debt repayment capacity, and the cost of accessing capital. In response, Kagame emphasized the importance of governments and the private sector working together to provide investors with the necessary facilities and support. He also highlighted the need for effective policies, capable institutions, and good governance to facilitate investment.
Another key point raised was the importance of integrating markets to expand investment opportunities for developing countries. Kagame suggested that investment projects should not be limited to a specific country's market but should be viewed in the context of a larger, growing regional market. He stressed that this requires a coordinated approach between governments and the private sector.
The CHOGM 2026 meeting aimed to strengthen partnerships and investment within the Commonwealth to build a more prosperous future. The leaders present recognized the need for a collective effort to address development challenges and capitalize on available opportunities. The meeting's theme, "Delivering a Common Wealth: Stronger Partnerships, New Opportunities," reflected the commitment to fostering cooperation and investment.
In conclusion, President Kagame's call for a shift in investment mindset within the Commonwealth reflects a broader effort to promote economic development in member countries. By working together and adopting a more nuanced understanding of investment risks and opportunities, the Commonwealth can unlock new potential for growth and prosperity.
Key points
- President Kagame calls for a change in perception towards investing in developing countries within the Commonwealth.
