Kigali Industrial Park set for next year

By ALEX NGARAMBE of The EABW

"KIGALI, RWANDA -The completion of the long awaited Kigali Industrial Park has been set for June next year, Rwanda Investment Group (RIG) has revealed.

The state-of the art industrial zone will be laid on 252.5 hectares of land, an investment being done by Rwanda Investment Group (RIG) and the government of Rwanda.

The zone, if fully set up, is expected to accommodate the emerging medium and heavy industries in Kigali, especially those in the old industrial zone, given ultimatum to relocate."

Complete article at "Kigali Industrial Park set for next year"

Category: Rwanda + Industry + Manufacturing + Investment

Rwanda: Young Kenyans in $200,000 Investment

A group of Kenyans below the age of 40 on Monday told President Paul Kagame that they have identified projects in the country where they want to invest up to $200,000 (about Rwf 100million).

The 26 Kenyans under a holdings company LK40 said they have decided to invest in Rwanda due to its 'determined leadership' to raise the standards of its people. The delegation had paid a courtesy call on the President.

According to Mr. Emmanuel Hategeka - Executive Secretary of the Private Sector Federation, the young investors will establish a nursing school and a vocational institute - aimed at tackling the skills gap in the country.

Complete article at "Rwanda: Young Kenyans in $200,000 Investment"

Category: Rwanda + Investment + Economy + Educations

Access Acquires 3 Banks in Cote D’Ivoire, Rwanda, DRC

By Linda Elueme of ThisDay Online

"In line with its African expansion strategy, which commenced in March 2007, Access Bank Plc has acquired three commercial banks operating in Cote D’Ivoire, Rwanda and the Democratic Republic of Congo (DRC).

Access Bank disclosed this in a statement made available to THISDAY over the weekend. Giving a breakdown of the terms of acquisition, Access Bank said it has acquired an 88 per cent interest in Omnifinance Bank, Cote D’Ivoire through a combination of purchase of existing shares and injection of additional capital. Omnifinance Bank now has a capital base in excess of US$20million.

Access Bank, which recently had a highly successful fund raising exercise, also acquired 75 per cent interest in Bancor Bank of Rwanda and a 90 per cent interest in Banque Privée du Congo."

Complete story at "Access Acquires 3 Banks in Cote D’Ivoire, Rwanda, DRC"

Category: Rwanda + Banking + Investment + Economy

Packaging industry in offing

BY EDDIE MUKAAYA of The New Times

"The move to have a packaging industry in the near future to improve the quality of products produced in Rwanda has gained momentum.

Claire Akamanzi, deputy director general Rwanda Investment and Export Promotion Agency (RIEPA) said a private consultancy firm has been hired to carry out a market survey on packaging needs.

“It is against the findings of the survey that we will act upon to attract investors in this sector,” she said.

The development comes at a time when Rwanda is importing about 90 per cent of packaging material."

Read the complete story at "Packaging industry in offing"

Category: Rwanda + Industry + Investment

Industrial park development starts

BY EDDIE MUKAAYA of The New Times

"Government has cleared about 20 hectares in Nyandungu paving way for industries to be built in place, State Minister for Industries and Export Promotion said. The planned park will be located in Nyandugu, 10 kilometers on the Eastern edge of Kigali City.

The move comes when Rwanda Environmental Management Authority (Rema) is up in arms saying Gikondo and Mburabuturo among others industrial areas are located in the wetlands."

Read on at "Industrial park development starts"

Category: Rwanda + Industry