Kigali — Rwandas midsize companies are looking at Burundi and Uganda as potential investment destinations in the region. According to the Top 100 Mid Sized Companies survey, over 69% out 205 companies surveyed indicated that Burundi would be their potential target for investment in the region while 48 percent saw Uganda.
“It is very interesting to see Rwandan companies beginning to pick interest in investing in the region,” Robert Onyango Senior Manager, Mid Markets at KPMG said during the launch of the survey in Kigali.
The Rwanda Top 100 midsize companies Survey is an initiative of KPMG to identify and recognize Rwanda’s fastest growing medium sized companies in order to showcase business excellence and highlight the country’s most successful entrepreneurial stories.
Conducted last year for a period of three months, the survey targeted around 205 midsize companies with a turnover of between Rwf 50 million up to Rwf 5 billion in different sectors with 175 submitting financial ratios in order to qualify for the ranking.
“By giving recognition to these companies, we are investing in the multinationals of tomorrow and meeting one of the national goals of Rwanda which is to move from poverty reduction to wealth creation,” John Ndunyu, Director KPMG Rwanda said.
The survey reported that the past 6 months credit extended to businesses has increased with most businesses accessing bank overdrafts, credit lines or credit card overdrafts and bank loans which indicated 41 percent and 40 percent respectively.