The AfDB made the recommendations in the 2026 Country Focus Report, titled Mobilising Rwanda’s Development Financing at Scale in a Fragmented World.
The Report, released on Wednesday recognises Rwanda’s socioeconomic progress, supported by sound macroeconomic management, institutional reforms and sustained investment.
However, AfDB said Rwanda needed to use financial, human, natural and business capital more effectively to accelerate inclusive growth and achieve national development goals. “Rwanda has demonstrated its capacity to translate sound policies, strong institutions and strategic investment into meaningful development progress,” AfDB Country Manager for Rwanda Aissa Touré Sarr said.
“The next phase will require us to mobilise more capital and ensure that it works harder and more effectively for Rwanda’s transformation.”
Key recommendations include broadening the tax base, strengthening tax compliance and expanding financial inclusion.
The Report also calls for deeper financial markets, innovative financing mechanisms and greater use of public-private partnerships.
AfDB said Rwanda could attract more long-term capital through the Kigali International Financial Centre.
Additional investment in education and healthcare would strengthen human capital, while better access to finance could help small and medium-sized enterprises expand and create employment.
The Report also recommends increased processing and value addition across productive sectors instead of relying heavily on lower-value economic activity.
Improved management of natural resources could ensure that Rwanda’s natural capital contributes more sustainably to development. “Rwanda’s development ambitions require innovative approaches to mobilising and deploying capital,” Rwanda Ministry of Finance and Economic Planning Chief Economist Judith Nabasa said.
“Strengthening financial markets, attracting long-term investment and deepening public-private partnerships will be critical to financing the next phase of Rwanda’s transformation.”
The Report accompanies AfDB’s 2026 African Economic Outlook and East Africa Economic Outlook, which examine development financing in an increasingly fragmented global economy.
The launch brought together government officials, financial institutions, businesses, development partners, academics and civil society organisations.
AfDB supports projects and reforms in Rwanda across energy, transport, agriculture, water and sanitation, finance, human capital and private-sector development.
The institution said financing, technical assistance, policy dialogue and research would continue supporting Rwanda’s second National Strategy for Transformation and Vision 2050.
–AfDB/ChannelAfrica–
