Dear Sir, in your annual competitiveness reports, you rank Rwanda very highly. In the Global Competitiveness Index 2014–2015, for example, you ranked Rwanda 62nd out of 147 economies. According to you, Rwanda is one of Africa’s most competitive economies and the top performer in East Africa — well ahead of Kenya ranked 90th, Tanzania and Uganda, ranked 121st and 122nd, respectively.
Mr. Schwab, these rankings are questionable, not least because Rwanda is heavily dependent on its neighbors from which it imports most of its basic needs as well as foreign investment. For example, four out of six companies listed on the Rwanda Stock Exchange are Kenyan. Further, Rwanda’s economy is by far the smallest compared to its neighbors in terms of gross domestic product (GDP) and per capita income as indicated by the 2015 World Bank data:
- Kenya’s GDP was $63,398 with a GDP per capita, PPP (current international $) of $3,082.5.
- Tanzania’s GDP was $44,895 with a GDP per capita, PPP (current international $) of $2,667.3
- Uganda’s GDP was $26,369 with a GDP per capita, PPP (current international $) of $1,825.3.
- Rwanda’s GDP was $8,095 with a GDP per capita, PPP (current international $) of $1,758.7.
Even when looking at the factors WEF supposedly measures to determine its competitive rankings, namely, institutions, infrastructure, and education and health; there is no way that Rwanda outperforms its larger neighbors, least of all, in the state of economic infrastructure as I comprehensively demonstrate in my new book, Kagame’s Economic Mirage. FULL STORY