This remarkable growth reflects Rwanda's position as one of Africa's top countries for ease of doing business, where new businesses can be registered in just one day.
According to the NISR's 2023 Establishment Census, the number of businesses in Rwanda almost doubled from 154,236 in 2014 to 269,326 by 2023.
Of these, the vast majority (95.9%) are privately owned while 92.0% are owned by individuals. Additionally, 2,017 businesses were founded by local NGOs, 656 by international NGOs, 2,496 by cooperatives, and 2,047 through public-private partnerships.
During the same period, 3,830 state-owned enterprises involved in commercial activities were also registered.
The report confirms that all listed businesses are currently active and tax-compliant as of the data collection period. Since 2020, the number of businesses has grown by 15%, with the total increasing from 226,359 to 261,549 by 2023.
A significant number of businesses (92.2%) are classified as micro-enterprises, employing less than four workers.
Small enterprises, which employ between four and 30 people, make up 6.4% (16,730 businesses), while medium-sized enterprises employing 31 to 100 people total 3,103 (1.2%). Large businesses, with more than 100 employees, account for just 0.2% (537 businesses).
In terms of ownership, 93.7% of businesses are fully owned by Rwandans, while 1% are joint ventures between Rwandans and foreigners. The ownership of the remaining 5.2% is unidentified.
NISR's analysis shows that businesses have continued to flourish, with 145,402 establishments founded between 2021 and 2023 still in operation. The business sector has been a key driver of employment, creating approximately 927,739 jobs, with women representing 43.6% of the workforce.
Four main economic activities account for 66.3% of total employment: wholesale and retail trade, repair of motor vehicles and motorcycles (26.2%), education (17.4%), accommodation and food services (12.9%), and manufacturing (9.8%).
Industries such as mining and quarrying (75.3% male workforce) and construction (85.6% male workforce) remain male-dominated sectors.
In 2023 alone, over $2.4 billion was invested in businesses, with most of the investments coming from Rwandan nationals, although there has been increasing interest from foreign investors.
Théophile Niyitegeka
