CHOGM: Kagame urges investors to reconsider risks in developing countries

President Paul Kagame has called on investors to reconsider perceptions that developing countries are riskier investment destinations than developed economies, saying investment risks exist across all markets.

Kagame made the remarks during a high-level panel at the 28th Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda, on Monday, November 2.

"There is a perception out there that the developing countries, for example, that part of the world that a number of our countries belong to, in making these investments there are higher risks for the investments in the South than in the North. And this has continued to play out for a long time," Kagame said.

"But it is not true. There are risks everywhere for any investments you want to make."

He said countries should focus on strengthening cooperation and pooling resources to manage investment risks, adding that the Commonwealth could help change how investors view opportunities across different regions.

Kagame also challenged investors not to overlook smaller economies, arguing that the size of a market should not determine whether a project receives investment.

"If any project, irrespective of the size, is feasible and looks profitable, the other problems to deal with are much simpler," he said.

He highlighted the importance of regional market integration, effective government policies and strong institutions in creating an environment where businesses can operate and grow.

Kagame added that governments should strengthen connections between the public and private sectors to support investment.

The panel also featured Jamaican Prime Minister Andrew Holness and Samoa's Deputy Prime Minister Mulipola Anarosa Ale Molioʻo.

Holness said bureaucratic processes and inefficient public institutions can slow development, even when funding is available.

He called on governments to improve institutional efficiency and use technology, including artificial intelligence, to speed up service delivery and project implementation.

"We need to start looking at how we make institutions more efficient. We need to start thinking of efficiency as a resource," he said.

Meanwhile, Samoa's Deputy Prime Minister said small island states also contribute significantly to the international community, arguing that influence should not be measured by the size of a country.

"True influence is measured not by size, but by vision, determination and the ability to bring people together," she said.

The 28th CHOGM, running from November 1 to 4, brings together leaders from 56 Commonwealth member countries under the theme, "Accelerating Partnerships and Investment for a Prosperous Commonwealth."

By Prince Ruzigana