By Rene Anthere Rwanyange
President Paul Kagame has challenged global investors to rethink their perception of risk in developing countries, saying investment opportunities in the Global South should not be undermined by assumptions that they are riskier than developed economies.
President Kagame makes the call during a high-level panel at the 28th Commonwealth Heads of Government Meeting (CHOGM) in St John’s, the capital city of Antigua and Barbuda, on Monday, November 2, 2026.
“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,” President Kagame says.
He rejects the perception, arguing that investment risks exist everywhere and should not be used to discourage investment in developing economies. “But it is not true. There are risks everywhere for any investments you want to make,” he adds.
The President calls for stronger international cooperation and joint efforts to manage investment risks, particularly in commercially viable projects. He says that the Commonwealth could play an important role in changing investment perceptions and encouraging partnerships between countries.
Regional markets offer opportunities
President Kagame also urges investors not to overlook smaller economies, stressing that the viability and profitability of a project should matter more than the size of the market. “If any project, irrespective of the size, is feasible and looks profitable, the other problems to deal with are much simpler,” he says.
He points to regional market integration, strong institutions and effective policies as important conditions for attracting investment.
President Kagame also stresses the need for stronger links between the public and private sectors, saying governments have a responsibility to create an environment that supports investment and economic growth.
The panel also featured Jamaican Prime Minister Andrew Holness and Samoa’s Deputy Prime Minister Mulipola Anarosa Ale Molioʻo.
Efficiency key to development
Prime Minister Holness says that inefficient public institutions and bureaucracy can slow development even when financial resources are available. He calls for greater efficiency in government institutions, describing efficiency itself as a resource.
He also highlights technology and artificial intelligence as tools that could improve public service delivery, provided fairness and equity remain central.
Samoa’s Deputy Prime Minister says that the small island states also contribute significantly to the international community, arguing that influence should be measured by vision and leadership rather than economic or geographical size.
The 28th CHOGM runs from November 1 to 4 under the theme, “Accelerating Partnerships and Investment for a Prosperous Commonwealth,” bringing together leaders from 56 Commonwealth member countries.
