Patricia Crisafulli - Rwanda, Inc.: How a Devastated Nation Became an Economic Model for the Developing World

PRAISE FOR RWANDA, INC.

In Rwanda, Inc., Crisafulli and Redmond recount the rise of an un-yielding people and their chief executive, President Paul Kagame. The Rwandans, rallying around their national pride, have built predictable systems that reward enterprise and hard work, and created an exceptional blueprint for other developing countries.

President Bill Clinton

Crisafulli and Redmond investigate the Rwandan renaissance, focusing on Rwandas CEO, Paul Kagame... a fascinating portrait of a nation and a president at a pivotal moment in history.

Publishers Weekly

An instructive snapshot of Rwanda today.

Kirkus Reviews

Andrea Redmond and Patricia Crisafulli are known for their ability to connect with people, examine leadership skills, and teach us through their compelling observations and insights. As advocates for the future of Rwanda, they are now telling a story that we can all benefit from hearing.

Jamie Dimon, chairman and chief executive officer, JPMorgan Chase

Rwanda, Inc. documents this beautiful countrys ongoing transformation through the lens of leadership, capturing the resilience of the human spirit and the potential for any countryor companyto chart an ambitious new course with ingenuity, collaboration, pragmatism, and passion.

Howard Schultz, chairman, president, and chief executive officer, Starbucks

Paul Kagame is one of my heroes and I believe [he] should be recognized as a Hero of the World. He has led Rwanda out of the most hellish nightmare one can imagine, into the daylight of national reconciliation and the formation of a democracy. This is a story that can become a model for the entire African continent.

James Sinegal, cofounder and director, Costco

Rwanda has achieved a remarkable turnaround, from the poster child of despair to symbol of progress, in less than 20 years. The unique leadership attributes of Rwandan President Kagame and his drive for broad-based economic growth continue to move the country forward. Rwanda today is inclusive, focuses on reconciliation, empowers women, decentralizes government, and involves the community in rebuildingfor the benefit of all. This is why Marriott wants to do business in Rwanda. Here, Crisafulli and Redmond tell this turnaround story brilliantly.

Arne M. Sorenson, president and chief executive officer, Marriott International, Inc.

By adopting an approach of trade not aid, our company has developed a sustainable multi-million-dollar business relationship with Rwanda since 2005. Our beautiful, handmade Path to Peace baskets, sold in Macys stores and on macys.com, help hundreds of widows of the genocide support themselves and their families. In Rwanda, Inc., Patricia Crisafulli and Andrea Redmond outline how President Kagame rebuilt the Rwandan nation in a manner that encouraged business collaboration and projects like Path to Peace at Macys. In the process, what was a tragedy has become a story of inspiration and hope, with all of the women of Rwanda working side by side.

Terry J. Lundgren, chairman, president, and chief executive officer, Macys, Inc.

HOW A DEVASTATED NATION BECAME AN ECONOMIC MODEL FOR THE DEVELOPING WORLD

PATRICIA CRISAFULLI
AND ANDREA REDMOND

The author and publisher have provided this e-book to you for your personal use only. You may not make this e-book publicly available in any way. Copyright infringement is against the law. If you believe the copy of this e-book you are reading infringes on the authors copyright, please notify the publisher at: us.macmillanusa.com/piracy.

RWANDA, INC.
Copyright Patricia Crisafulli and Andrea Redmond, 2012.
All rights reserved.

For information, address St. Martins Press, 175 Fifth Avenue, New York, N.Y. 10010.

First published in 2012 by PALGRAVE MACMILLAN in the U.S.a division of St. Martins Press LLC, 175 Fifth Avenue, New York, NY 10010.

ISBN: 978-0-230-34022-0

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Library of Congress Cataloging-in-Publication Data

Crisafulli, Patricia.

Rwanda, Inc. : how a devastated nation became an economic model for the developing world / Patricia Crisafulli and Andrea Redmond.

p. cm.

Includes index.

ISBN 978-0-230-34022-0

1. RwandaEconomic policy. 2. Economic developmentRwanda. 3. Investments, ForeignRwanda. 4. Political leadershipRwanda. 5. Kagame, Paul, 1957 I. Redmond, Andrea. II. Title.
HC875.C75 2012
338.967571dc23

2012017937

A catalogue record of the book is available from the British Library.

Design by Letra Libre, Inc.

First edition: November 2012

10 9 8 7 6 5 4 3 2 1

Printed in the United States of America.

To the people of Rwanda, who continue to demonstrate what is possible when vision is combined with courage and commitment and backed by exemplary leadership.

Joseph W. Saunders

Chairman and CEO, Visa Inc.

In December 2011 Visa Inc. and the government of Rwanda announced a groundbreaking agreement for both the company and the country of Rwanda: a partnership to electronify Rwandas economy, which will help to connect the nearly 11 million residents of this country to the formal financial sector. The announcement was the end result of a long process for Visa, of studying innovative products that could be launched in emerging markets and choosing the country in which these new products would first be unveiled and tested.

While no country was perfect on all of Visas measures, Rwanda distinguished itself quickly and clearly because of its pro-business attitude, zero tolerance for corruption, and a government that was very eager to partner with us in order to reach the 86 percent of the Rwandan population that lacks traditional financial services. For us, government support was paramount.

Our experience supports the premise of Rwanda, Inc.: that this country is in the midst of an amazing turnaround. In less than two decades it has gone from complete devastation after the genocide 18 years ago to impressive economic development, which has resulted in strong GDP growth that has lifted one million people out of poverty in the past five years alone. As the authors state, Rwanda is the ultimate turnaround, which has been accomplished by having a clear vision and the commitment to execute a strategy that would make it a reality. For Visa, it is exciting to be part of the Rwandan business community and economic fabric.

Our partnership with Rwanda covers a full spectrum of services that are important to the countrys economic growth strategy, including modernizing the payments network in the country, upgrading automated teller machines, installing more merchant card readers, and developing e-commerce. Visas solutions will help tourists and business travelers in Rwanda to use credit or debit cards to pay for goods and services.

The Visa initiative also targets a new and very important customer base, which is also a priority for the Rwandan government: the millions of people who do not currently have access to reliable and convenient financial services. Enabling these individuals to better manage their financial lives through the combination of accessible branchless banking networks and ubiquitous mobile devices is a significant step toward bringing the benefits of Rwandas economic expansion to even more of its citizens. Already, the country has over four million mobile phone users, a figure that is expected to grow to six million in the near term. Visa is capitalizing on this trend to provide simple alternatives to average Rwandans who, like all of us, crave convenient ways to save for education, pay monthly bills, and quickly send funds to friends and family.