Rwanda, which suffered a genocide 30 years ago, is now working to bring the Formula 1 Grand Prix to the country through its successful governance.
Paul Kagame, the driving force behind this initiative, has intervened against rebels in the Central African Republic, attracted foreign investors, implemented economic reforms, and significantly reduced corruption. Despite being a small landlocked country, Rwanda is increasingly becoming a significant player on the continent.
Kagame places great importance on investments in sports. He has previously developed a partnership with the NBA and invested hundreds of millions of dollars to enhance Rwanda’s sports facilities. Recently, he has been doing everything possible to make Rwanda the host of the Formula 1 Grand Prix.
However, the country’s gross domestic product is only $14.1 billion, and there is currently no racetrack in the country, making such an investment seem financially challenging.
Still, considering the call from the legendary Lewis Hamilton, it is certainly not impossible for Rwanda to achieve this organization. F1 CEO Stefano Domenicali described Rwanda’s plan as serious and of high quality, expressing their interest in Africa but emphasizing the need for the right investment plan. Additionally, hosting the FIA’s general assembly and awards ceremony in December this year will be an important step for Rwanda.
There are also other African countries competing with Rwanda for this opportunity. Morocco, which hosted 13 races in the past, is reportedly making efforts to return to the race. If Rwanda can overcome all these challenges, it could achieve a significant economic leap.
However, it is undeniable that Rwanda remains a very poor country today. Given that even wealthier nations struggle with such an event, Rwanda’s pursuit of this investment has raised some criticisms.
