{Private investors play a major role in development, supporting government in various activities. However, they sometimes dilly-dally in keeping quality and observing timelines spelt out in their performance commitment.}
Private investors who didn’t execute contracts of projects they committed to achieve in Eastern Province have declared their guilty and apologized before President Paul Kagame pledging to correct such faults.
President Paul Kagame highlighted that Rwandan can’t wait for development from strangers but, rather, private sector players have to ably play their role and ask for with they are unable to eloquently execute.
He noted this Thursday evening as he met opinion leaders in Ngoma district including local governments’ officials, private investors, civil society and representatives of churches from Eastern province.
The Eastern Province governor, Odette Uwamariya, revealed that private investors expensively execute government development projects.
“It is understandable that private investors have a will and execute various activities in different corners. However, we found that many projects are cheaply executed by the government,” she said.
Uwamariya pointed out an example of EPIC Hotel built in Nyagatare district .The hotel would have taken Rwf 13.9 billion for construction activities. However only Rwf 5.2billion has been invested in the facility with 54% of the funds from the financial budget of districts from Eastern Province, 24% represents shares of Rwanda Development Bank, 19% is the contribution of Rwanda Social security Board while private investors have only 3% of shares.
Kagame decried private investors’ lack of commitment.
“At the beginning, Epic hotel supposed to be built by private investors and we committed to fund them. But they absconded. Stepping back from activities of the already launched projects should be avoided,” he advised.
President Kagame urged private investors to first demonstrate tangible results before asking assistance.
The representative of opinion leaders and the president of private investors in Eastern Province, Habanabakize Fabrice requested forgiveness on behalf of the team he represents and promised to avoid reoccurrence of similar faults.
Eastern Province has 2.5 million citizens .It is the largest province of the country.
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