Rwanda lost 800,000 people in 100 days. Thirty-two years later, it has landed Formula 1

In 100 days in 1994, about 800,000 people were killed in Rwanda. That is the United Nations estimate. The UN pulled most of its peacekeepers out while it happened, cutting the force from about 2,300 to 270 on 21 April. The killing only stopped when rebel soldiers took the capital, Kigali, on 4 July.

On 13 October 2026, that same country signed a 10 year deal to host Formula 1.

Readers of our F1 story asked the obvious next thing. How does a landlocked country of about 14 million people, with no oil and no track, beat ready-built Kyalami? The answer is a mix of real success, big spending, and some hard questions.

How big was Rwanda's economy in 1994?

Tiny. The government says the whole economy was worth $752 million in 1994. Income per person was about $125. Life expectancy was 29 years.

By 2018, the government says the economy had reached $9.5 billion. The World Bank's latest outlook puts it near $16.7 billion for 2025. That is more than 22 times bigger than in 1994, before you adjust for prices.

$125.501994

$787.002018

$1,143.002025

See the numbers

1994	$125.50
2018	$787.00
2025	$1,143.00

Sources: Government of Rwanda (1994 and 2018), World Bank Macro Poverty Outlook (2025). Current US dollars, not adjusted for prices.

Inflation was 101% in 1995. By 2018 it was 1.1%, the government says. Life expectancy had climbed to 67 years by 2016.

How fast is Rwanda growing now?

Faster than almost anyone in Africa. Rwanda's economy grew 9.4% in 2025, says the World Bank. The central bank says it grew 9.7% in the first half of 2026, driven by industry (up 15.5%), services (up 7.4%) and farming (up 5.9%).

Over the long run, one study puts average growth at 7.4% a year between 2000 and 2023. South Africa's growth in 2025 was 1.1%, based on IMF figures.

Here is how the two countries compare.

Sources: World Bank, IMF, Stats SA, South Africa's 2026 Budget, Observer Research Foundation, The Conversation. Countries measure jobs differently, so compare with care. Debt figures use different definitions.

So South Africans earn about six times more per person. But Rwanda is catching up fast, and its jobless rate looks far lower on paper.

Where does the money come from?

Not from oil or diamonds. A university researcher writing in The Conversation says one big engine is the national pension fund. It holds about $2 billion of workers' retirement savings, and the ruling party has used it to build hotels, offices and the skyline of Kigali.

The researcher says the plan is partly modelled on Singapore: Run a clean, safe, business-friendly country and make it a hub. Conferences are a big part. Hotel rooms jumped from 623 in 2003 to 14,866 in 2018. Tourism income went from about $131 million in 2006 to $650 million in 2024, according to figures cited by the Mail & Guardian.

Photo: Emmanuelkwizera / Wikimedia Commons, CC BY-SA 4.0

Gorillas help too. Trips to see mountain gorillas are a big part of the Visit Rwanda brand.

Why is Rwanda paying for football shirts?

You may have seen the words "Visit Rwanda" on Arsenal's sleeve. Rwanda has also done deals with Paris Saint-Germain and Bayern Munich. Reports put the Arsenal deal at around £10 million a year.

This year it signed Aston Villa as its main shirt partner. The Mail & Guardian reports the deal could be worth up to £20 million a year, about R440 million, with bonuses. The exact length has not been made public.

The government says the cost comes from tourism and the Rwanda Development Board, not from aid money. Critics say a country that gets aid should spend on schools and clinics first. Human rights groups have also asked clubs to end the deals because of Congo.

F1 is the same idea, bigger. The deal is "presented by Visit Rwanda". The track will sit about 40 km south of Kigali, next to the new airport. F1 says it will also host conferences and concerts all year.

Photo: Charles J. Sharp / Wikimedia Commons, CC BY-SA 4.0

How poor are most Rwandans?

Still very poor. The World Bank says 27.4% of Rwandans lived below the national poverty line in 2023, down from about 40% in 2016. Income per person of about $1,143 is a fraction of South Africa's.

The jobs problem is bigger than the headline. The Conversation's author says the unemployment rate was 12.4% in 2025, well above the government's 7% target. When you add people who work fewer hours than they want, the figure passes 50%. He argues the services-first model has not made enough formal jobs.

More than 250,000 young people enter the job market every year, says the Observer Research Foundation. Over 60% of Rwandans are under 25.

Photo: ITU Regional Development Forum for Africa / Wikimedia Commons, CC BY 2.0

Is Rwanda drowning in debt and aid?

Debt is climbing. The Observer Research Foundation says public debt rose from 58% of GDP in 2019 to about 80% in 2025. That is almost exactly where South Africa's debt sits.

Aid matters less than it did. In the mid-2000s, foreign grants paid for over 40% of the budget. In 2025/26 it is 8.3%. The UN Economic Commission for Africa says Rwanda spent nearly 8% of government revenue on interest in 2024. Kenya spent about 24%.

Rwanda also buys far more than it sells. In 2024 it imported about $6.9 billion of goods and exported about $3.2 billion, says the same think tank.

What do UN experts say about Rwanda and Congo?

This is the part Rwanda's marketing avoids. In 2025, a UN expert panel told the Security Council that Rwanda held command and control over the M23 rebels in eastern Congo, according to a report seen by Reuters. The experts said Rwanda trained and armed them. They also said looted minerals were mixed into Rwandan production and exported as Rwandan.

A July 2026 UN experts report estimated Rwandan troops in Congo at 8,000 to 10,000 in South Kivu and 6,000 to 8,000 in North Kivu.

Rwanda denies backing M23. Its government says its forces act in self-defence against the FDLR, a Hutu group that includes fighters linked to the 1994 genocide. President Kagame has said the experts wrote what they already believed.

Gold, tin and tantalum are among Rwanda's top exports, the Observer Research Foundation says. Nobody in the research we read says how much of that came from Congo.

How much control does Kagame have?

Paul Kagame has led Rwanda since the genocide ended. He won a fourth term in July 2024, and his party's coalition took 68.8% of parliament seats, says the World Bank. Critics say there is little room for opposition.

The pension-fund researcher notes that some business people who fell out with the government went on to fund opposition groups abroad. The state also owns or backs firms in almost every sector.

Fans of the model say that stability is why investors and F1 trust Rwanda. Critics say it is why nobody can easily say no.

Who was watching Rwanda in 1994, and who is watching now?

In April 1994, the world cut its peacekeepers in Rwanda to 270 and looked away. Early in the 2030s, the world will fly in, buy tickets, and watch cars race on a track 40 km from the same city.