In 2018, Siemens announced that it was considering investing in the Rwandan market and that it had mapped out areas of interest.
This German multinational is the largest industrial manufacturing company in Europe. It also has departments dedicated to investment in African regions.
Four years later, Sabine Dall’Omo, CEO of Siemens for Southern and Eastern Africa, led a delegation to Rwanda on Monday, October 10, 2021 to discuss potential partnership and investment opportunities.
According to the Rwanda Development Board, the Siemens team had discussions with government officials and RDB staff.
This contact between Rwanda and Siemens comes at a time when the East African country is mobilizing for the establishment of a standard railway linking the country to neighboring countries of Tanzania and Uganda.
Rwanda also has an ambitious futuristic project to introduce an unmanned cable car system in the capital Kigali. For Siemens, this could be an opportunity to seize because of its experience in automation and metro projects.
Another opportunity offered is the production and transmission of energy. Rwanda needs targets to increase its production capacity to 556 MW by 2024 from 235.6 MW currently. Current access to electricity is 66%, but the country’s target is 100% by 2024. Such ambitious goals require courting industry experts like Siemens.
Siemens has revealed that some of its upcoming activities in Rwanda include vaccine production and technology transfer for Bugesera International Airport.
In January 2018, Siemens was in Rwanda and had conducted an investment study on market opportunities and viability and announced that they were looking to have deliberations with the government to seek a commitment to work together.
However, Siemens, like most European companies, pursues investment models that make it expensive for host countries, but China, India and other Asian companies could offer the same at affordable costs.
“Our main goal as a company is to provide quality rather than being cheap and reducing costs,” said André Bouffioux, Siemens Managing Director for Belgium and West Africa and of the Center.