By David Himbara
General Paul Kagame dropped his chief fraudster, Clair Akamanzi, from his cabinet and from the CEO position of the Rwanda Development Board (RDB). On learning that she was dumped, Akamanzi declared she remains “wholeheartedly dedicated to Rwanda’s continued prosperity.” She has a departing gift for Kagame – fabricated investment statistics aimed at portraying Rwanda the Singapore of Africa.
The 2022 RDB Annual Report proclaims that Rwanda “Attracted US$ 1.6 bn worth of transformative investments in various sectors.” Let us be clear about the meaning of “the attracted foreign investment” – it is the value of foreign investors’ equity and net loans to enterprises in the host economy. The World Bank indicates that Rwanda attracted US$398.5 million in foreign investments in 2022. The 2023 UNCTAD’s World Investment Report shows that in 2022, Rwanda attracted US$399 million in foreign investments. Furthermore, the total stock of foreign investment Rwanda attracted from 2000 to 2022 is US$3,327.
Akamanzi/RDB should enter the annual World’s Biggest Liar competition for telling lies, held in the UK. Competitors from around the world have five minutes to tell the biggest and most convincing lie they can. The Akamanzi/RDB lie that Rwanda attracted US$ 1.6 billion in foreign investments in a single year, might win a crown at the World’s Biggest Liar competition.