The Tourism and Hospitality industry was and continues to be a priority sector in Rwanda’s development agenda. Yet, the economic effects of COVID-19 have deeply affected the sector. It is against this backdrop, that Tourism Inc. continues to support the future champions of the sector. It is more important than ever to invest in these youth-led businesses to ensure they have the tools needed to develop their businesses and thrive in a post-COVID world.
The program seeks to create an engaging environment for participating entrepreneurs and ensures they receive a suite of practical support to turn their innovative tourism start-ups into sector champions in Rwanda. This support includes training on a range of key business skills, coaching to enable practical application of these learnings into their businesses, and practical resources including workspace and access to financing.
It is this wrap-around offering that has earned Tourism Inc. a reputation as a top incubation program that harnesses ideas and instills competencies that result in market success for its participants. Presently, Tourism Inc. has graduated 109 businesses and 67% of them are led by female owners. Tourism Inc. is currently in its fifth edition of the cohort and will soon be recruiting its sixth edition.
For its sixth cohort, 25 young entrepreneurs will be selected to join the Tourism Inc. program. They will receive six months of the right mix of technical skills, financing, and mentorship to help them grow their businesses.
The participants will also benefit from free co-working space and prototype incentives aimed at supporting the launch/growth of participating businesses. At the end of the program, the top five entrepreneurs will receive seed funding to help further expand their ventures.
ESP is now accepting applications for the sixth cohort of this exciting program.
{{Applicants who meet the following criteria are encouraged to apply:}}
● Must be a start-up (have a minimum viable product or be in business for less than five years) in the Tourism and Hospitality value chain (i.e., including suppliers to the sector)
● Must be a young person (18-35 years old)
● Must be based in Rwanda
● Must have a commitment to engage in activities and complete the program
● Women entrepreneurs are highly encouraged to apply
ESP will host online information sessions to provide interested potential participants with further details on the program and on how to apply.
For further information, interested individuals can visit the ESPartners website: [{{espartners.co}} ->https://espartners.co/] or Contact ESPartners Rwanda by email at thincubation@espartners.co
Application link: https://bit.ly/TOURISMINC6
{{About Entrepreneurial Solutions Partners}}
Entrepreneurial Solutions Partners (ESP) aims to enable innovative, scalable, and profitable enterprises to build prosperity. Our mission is “to foster entrepreneurial solutions for prosperity.” ESP enables people, firms, institutions, and nations to articulate and implement solutions to their economic challenges.
ESP’s approach is to provide Intelligent Capital™—the right combination of insights and capital—to address critical societal issues. We provide consulting and strategic advisory services to diverse clients, including governments, businesses, and development partners in Africa. We support innovative models and provide leadership training and entrepreneurial boot camps. With offices in Abidjan and Kigali, ESP has been in operation since 2011.
{{About Mastercard Foundation}}
The Mastercard Foundation works with visionary organizations to enable young people in Africa and in Indigenous communities in Canada to access dignified and fulfilling work. It is one of the largest, private foundations in the world with a mission to advance learning and promote financial inclusion to create an inclusive and equitable world. The Foundation was created by Mastercard in 2006 as an independent organization with its own Board of Directors and management.
Gen Kazura and accompanying delegation arrived in France on Monday for an official visit from 14th to 17th March 2022.
Gen Burkhard has via Twitter handle revealed that he hosted his Rwandan counterpart on Monday 14th March 2022 for discussions on different issues including security.
“yesterday, I held talks with my counterpart of Rwanda, Gen Kazura. We discussed on security situation in Central and Southern Africa as well as cooperation between Rwanda and French Armies,” he said.
Gen Kazura was accompanied by three senior military officials from RDF on the visit.
These include Brig Gen Patrick Karuretwa, the Head of International Military Cooperation ; Brig Gen Vincent Nyakarundi, RDF Head of Military Intelligence and Col Jean Chrysostome Ngendahimana, RDF Chief J3 (in Charge of Operation and Training).
According to Rwanda’s Ministry of Defence, bilateral discussions between Gen Kazura and his counterpart of France are centered around opportunities to revive and strengthen Defence Cooperation in areas of mutual interest. Also discussed were regional and global security dynamics.
Lt Gen Muhoozi arrived in Rwanda on Monday 14th March 2022. As he arrived in Rwanda, he was received by Chargé d’Affaires at Uganda’s Embassy in Kigali, Anne Katusiime ; the Commandant of Republican Guard, Brigadier General Willy Rwagasana and the Spokesperson of Rwanda Defence Force (RDF), Col Ronald Rwivanga.
He is coming to Rwanda for the second time after the recent visit aimed at creating new avenues for normalized ties between Rwanda and Uganda.
Gatuna border had been closed in 2019 following Rwanda’s concerns over Uganda’s support to dissidents intending to threaten its security and series of arrests of Rwandans incarcerated illegally in the country.
At the time, Rwanda advised citizens not to travel to Uganda for their security following testimonies of over 1000 Rwandans tortured and deported from Uganda.
The decision has had negative impact to citizens’ of both neighboring countries.
Apart from worsened relations, the value of trade between both countries dropped from US$250 million in 2018 to US$10 million.
Talks between Lt Gen Muhoozi and President Kagame on 22nd January 2022 are believed to have bore fruits leading to a step further towards restoring relations to normal.
Following the visit to Rwanda of Lt Gen Muhoozi, on 22nd January 2022, the Government of Rwanda announced that Gatuna border connecting the country to Uganda would reopen effective from 31st January 2022 following the country’s willingness to address issues raised by Rwanda.
The move was followed by the reopening of all land borders on 7th March 2022.
Passengers crossing to Uganda are required to present different travel documents including Passport and Laissez – Passer.
The country has also requested passengers living far from the borders to present negative COVID-19 PCR Test Results. However, residents nearby the borders with Uganda are allowed to present Rapid Test.
Charles made the revelation on Monday 14th March 2022 at the celebration of the Commonwealth Day.
As the world works to recover from the Covid-19 pandemic, he said, it is more important than ever that the countries of the Commonwealth ‘come together in this Jubilee year’.
“As a family of some 2.6 billion people from fifty-four nations across six continents, the Commonwealth represents a rich diversity of traditions, experience and talents which can help to build a more equal, sustainable and prosperous future.
With this shared sense of common purpose, and in view of recent, enforced postponements, my wife and I are delighted to be attending the Commonwealth Heads of Government Meeting in Kigali, Rwanda, in June,” Charles said.
The Prince of Wales has been an active supporter of the Commonwealth for over fifty years. Together with The Duchess of Cornwall, His Royal Highness shows his support through official visits, military links, charitable activities and other special events such as the opening of the Commonwealth Games in 2010 in New Delhi, India; in 2014 Glasgow, Scotland and in 2018 on the Gold Coast, Australia.
The Prince has attended the Commonwealth Heads of Government Meeting (CHOGM) on five previous occasions – Edinburgh in 1997, Uganda in 2007, Sri Lanka in 2013 (where The Prince represented Her Majesty The Queen), Malta in 2015 and in the U.K in 2018. During the 2018 CHOGM in the UK, Commonwealth leaders formally announced that The Prince of Wales would succeed The Queen as Head of the Commonwealth.
Since 1969, The Prince has visited forty-six Commonwealth countries, many of them on several occasions. The Duchess of Cornwall has accompanied The Prince on many of his visits to Commonwealth countries and Her Royal Highness has visited twenty-four Commonwealth countries.
As he arrived in Rwanda, Lt Gen Muhoozi has been received by Chargé d’Affaires at Uganda’s Embassy in Kigali, Anne Katusiime; the Commandant of Republican Guard, Brigadier General Willy Rwagasana and the Spokesperson of Rwanda Defence Force (RDF), Col Ronald Rwivanga.
He is coming to Rwanda for the second time after the recent visit aimed at creating new avenues for normalized ties between Rwanda and Uganda.
Gatuna border had been closed in 2019 following Rwanda’s concerns over Uganda’s support to dissidents intending to threaten its security and series of arrests of Rwandans incarcerated illegally in the country.
At the time, Rwanda advised citizens not to travel to Uganda for their security following testimonies of over 1000 Rwandans tortured and deported from Uganda.
The decision has had negative impact to citizens’ of both neighboring countries.
Apart from worsened relations, the value of trade between both countries dropped from US$250 million in 2018 to US$10 million.
Talks between Lt Gen Muhoozi and President Kagame on 22nd January 2022 are believed to have bore fruits leading to a step further towards restoring relations to normal.
Before the visit of Lt Gen Muhoozi, Rwanda and Uganda had tried to mend relations through the mediation of DRC and Angola but ended up in vain.
Lt Gen Muhoozi recently revealed that he planned to return to Kigali in the following days to resolve pending issues affecting relations between Rwanda and Uganda.
“After a long discussion with my uncle, President Kagame, this morning we have agreed that I return to Kigali in the coming days to sort out all outstanding issues between Uganda and Rwanda,” he tweeted towards the end of February 2022.
Following the visit to Rwanda of Lt Gen Muhoozi Kainerugaba, Senior Presidential Advisor on Special Operations and Commander of Land Forces of the Uganda People’s Defence Forces (UPDF) on 22nd January 2022, the Government of Rwanda announced that Gatuna border connecting the country to Uganda will reopen effective from 31st January 2022 following the country’s willingness to address issues raised by Rwanda.
The move was followed by the reopening of all land borders on 7th March 2022.
Passengers crossing to Uganda are required to present different travel documents including Passport and Laissez – Passer.
The country has also requested passengers living far from the borders to present negative COVID-19 PCR Test Results. However, residents nearby the borders with Uganda are allowed to present Rapid Test.
Karl Platt and Habimana Jean Eric won the fourth stage clocking 2 hours 36 minutes and 17 seconds.
Kenyan Suleiman Kangangi riding for Giant was the first to arrive at the finishing line in front of Palm Beach Hotel followed by Habimana Jean Eric who teamed up with German Karl Platt.
The last stage saw the duo leading the race on the general classification with 8 hours 22 minutes and 55 seconds. They were 38 minutes ahead of Daniel Gathof and Renay Groustra who took the second position.
Karl Platt, 43, was participating in Rwandan Epic for the first time. He revealed that it was an amazing experience to take part in the race noting that he enjoyed wonderful sojourn in Rwanda where he plans to return.
“It was an amazing tournament. I enjoyed wonderful moments throughout the race’s route along with Jean Eric. I will come back to Rwanda because I have got many friends,” he said.
In the category of women, Leone Verster and Catherine Colyn have won the last stage clocking 3 hours 54 minutes and 8 seconds while Umwamikazi Jazilla and Nirere Xaverine clocked 5 hours 34 minutes and 22 seconds.
On the general classification, Leone Verster and Catherine Colyn led the race with 12 hours 39 minutes and 29 seconds. They are five hours ahead of next rivals.
In the mixed category, Jennifer Wagouman and Daniel Klemmer registered 5 hours 37 minutes and 6 seconds. They led the race in the category with 17 hours 43 minutes and 53 seconds.
The last stage of the tournament attracted more 11 riders from different countries.
Jakob Schule was the first among racers who joined on the last day registering 2 hours 57 minutes and 55 seconds.
His rivals include Reno Ziondato, Evan Meyers, Pelden Dorji, Arthur Franzon, Alexander Lamberts, Didier, Habiyambere Olivier, Neza Violette, Paulo van der Ven and Arjan Sleurink.
The ceremony to handover prizes to winners was also graced by the mayor of Rubavu district, Ildephonse Kambogo.
Sponsors of Rwandan Epic 2022 include Amstel, Rwanda Convention Bureau (RCB), Winnaz, Radisson Blu Hotel & Kigali Convention Centre, Trans Link, Qoryx Energy, Peloton de Paris and SunRace among others.
The organizer of the just concluded international tournament, Rwanda Alternative Riding Events (RaR) is making preparations for another tournament dubbed “Race Around Rwanda” to be held on 19th March 2022 and “Gorilla Gravel” to be held between 9th and 12th June 2022.
{{Stage four classification of Rwandan Epic 2022:}}
{{Men}}
1. Karl Platt & Habimana Jean Eric: 2h36’17”
2. Daniel Gathof & Renay Groustra: 2h48’38”
3. Suleiman Kangangi & Mael Desrieux: 2h55’45”
4. Mitch Elliot: 2h58’10”
5. Josh Ibbett & Ruberwa Jean: 2h59’05”
6. Kwizera Elie & Uwitonze Edouard: 3h06’38”
7. Marc Schut & Rhys Manners: 3h13’57”
8. Nduwayo Eric & Nkurunziza Yves: 3h15’44”
9. David Caroll & Niringiyimana Ramadhan: 3h41’40”
10. Ishimwe Jean Claude & Nshutiraguma Kevin: 4h18’56”
{{Women}}
1. Leone Verster & Catherine Colyn: 3h54’08”
2. Umwamikazi Jazilla & Nirere Xaverine: 5h34’22”
{{Mixed category}}
1. Jennifer Wagouman & Daniel Klemmer: 5h37’06”
{{General classification:}}
{{Men}}
1. Karl Platt & Habimana Jean Eric: 8h22’55”
2. Daniel Gathof & Renay Groustra: 8h54’50”
3. Suleiman Kangangi & Mael Desrieux: 9h26’46”
4. Josh Ibbett & Ruberwa Jean: 9h57’58”
5. Kwizera Elie & Uwitonze Edouard: 10h53’18”
6. Marc Schut & Rhys Manners: 11h05’52”
7. David Caroll & Niringiyimana Ramadhan: 12h03’41”
Gen Kazura will be accompanied by three senior military officials from RDF on the three-day official visit.
These include Brig Gen Patrick Karuretwa, the Head of International Military Cooperation; Brig Gen Vincent Nyakarundi, RDF Head of Military Intelligence and Col Jean Chrysostome Ngendahimana, RDF Chief J3 (in Charge of Operation and Training).
The senior military officers are to visit France following giant strides to normalize relations between Rwanda and the country.
Rwanda, France relations wavered in the past over the role France is accused to have played during the 1994 Genocide against Tutsi.
However, both countries’ relations have been on good progress since Macron took office in 2017.
In 2021, Macron came to Rwanda for a two-day maiden visit from 27th to 28th May where he admitted his country’s responsibility during the 1994 Genocide against Tutsi.
“Standing here today, with humility and respect, by your side, I have come to recognize our responsibilities,” said Macron as he visited Kigali Genocide Memorial.
At the time, he said that France had a duty to admit the “suffering it inflicted on the Rwandan people by too long valuing silence over the examination of the truth.”
Macron said that only those who had survived the horrors “can perhaps forgive ; give us the gift of forgiveness”.
The visit was held shortly after the release of Duclert report that reviewed archives on France’s role during the 1994 Genocide against Tutsi.
It was made by an expert committee of French historians led by Prof. Vincent Duclert.
The report by French historians revealed that France bears “heavy and overwhelming responsibilities” over tragic history that led to the 1994 Genocide against the Tutsi which took lives of over 1 million victims.
The report blames the then French President, François Mitterrand, for a “failure” of policy towards Rwanda in 1994. The findings were made public after years of French official secrecy over links to the Government led by Juvenal Habyarimana.
On the first day of his visit to Rwanda last year, Macron visited Kigali Genocide Memorial where he paid tribute to over 250,000 victims of the 1994 Genocide against Tutsi.
He also participated in a joint press conference with his host, President Paul Kagame, visited Tumba College of Technology where a Department of Mechatronics would be set up through a partnership with French Agency for Development (AFD).
On the same day, Macron visited Gikondo Health Center before officiating the launch of French Cultural Center located near Kigali Convention Center, Kimihurura Sector, Gasabo District.
The center has a section dedicated to learning French, culture-based training and providing official French language certification, boasts a large outdoor stage that can host shows and concerts.
On Thursday night, Macron and Kagame also watched quarter-finals of the inaugural season of Basketball Africa League (BAL) during which Patriots BBC representing Rwanda beat Ferroviário de Maputo representing Mozambique73-71 at Kigali Arena.
Among others, his visit left various agreements signed between both countries. The pacts include a framework for bilateral cooperation signed between French Minister for Europe and Foreign Affairs Jean-Yves Le Drian and Rwanda’s Minister of Foreign Affairs Vincent Biruta.
The two countries signed an agreement for sports and talent development which saw Rwanda receiving €1.5 million (approximately Rwf1.84 billion) for sport and talent development.
Rwanda’s Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana also signed a Euro 60 million financing agreement with Rémy Rioux the Director-General of French Agency for Development (AFD).
His coming to Rwanda is considered a major milestone to turning a new page for both countries relations blurred by France’s failure to admit its role during the 1994 Genocide against Tutsi.
In May 2021, President Paul Kagame also held talks with former French senior military officers who served in Rwanda between 1990 and 1994 for a candid discussion about history of Genocide against Tutsi.
Rwanda, France diplomatic relations date back in 1962 after obtaining Independence.
She was speaking at the 8th “Ring the bell for gender equality” ceremony held on Friday 11th March 2022.
The ceremony seeks to bring to limelight the importance of private sector collaboration towards attaining gender equality and women empowerment.
It was organized by Rwanda Stock Exchange (RSE) in partnership with UN Women and the International Finance Corporation (IFC), aims to attract attention to the pivotal role the private sector can play in advancing gender equality to achieve Sustainable Development Goals.
Hakuziyaremye said that BNR has put in place initiatives to support women through financial inclusion and access to financial services from all relevant institutions in Rwanda.
She stressed that research is of critical significance to identify the gaps and challenges that women face in the financial sector.
“We make research-informed decisions to advocate for women. Research has proved that informal traders pay loans at 95%. When these women face challenges, we intervene as the National Bank of Rwanda through advocacy to enable access to requested loan” she said.
Hakuziyaremye underscored that BNR remains committed to support women and encouraged financial institutions to use research findings to accelerate women empowerment.
Pierre Célestin Rwabukumba, the CEO of RSE observed that financial institutions need to give attention to gender equality and women empowerment for sustainable development.
“If people are given needed resources, they will contribute to national development. We call upon the private sector to increase its efforts in gender equality and women empowerment because it is not only beneficial to individuals but also to the country at large,” he said
Rwabukumba also talked about various RSE initiatives for women empowerment like the investment clinic and advocating for investment in profitable women startups.
Denise Umwali wa Ngoga, the Gender Joint Programme Manager at UN Women said that their partnership with RSE gives a clear picture of what can be achieved with regards to gender equality and women empowerment.
“Our strong partnership has evidenced that it is possible to achieve desired outcomes in women’s economic empowerment and gender equality,” she noted.
Even though there is still a long way to go, other participants of the event called for multisectoral collaboration to meet envisaged objectives.
Through initiatives like the affordable housing program, the government seeks to address low and middle-income communities’ housing challenges.
Speaking at the recent launch of “Bwiza Riverside Homes” project in Karama, Kigali sector of Nyarugenge district, President Paul Kagame said that the country is committed to make possible efforts to help people access affordable houses that are needed in large numbers.
“If we can move faster, that should be our aim. On the side of Government, we feel we should do whatever is possible within our means to have our people access the kind of affordable houses that are needed in so large numbers. But today, we saw what is possible; we are going to stick with it and will demand that every one of us in the Government system does what we can possibly do to make significant progress,” Kagame noted.
“We have partners who want to support the Government to be able to house our people. I think they have seen what is possible with this model. I also think, it invites all of us for this strong partnership we can forge to be able to achieve what needs to be done,” he added.
Affordable housing projects are expected to help the Government of Rwanda meet targets to increase urbanization rate from 18% to 35% in 2024 to support economic growth.
Particularly, Kigali City needs more 310,000 housing units between 2017 and 2023. Meeting the target, will help middle income earners to own houses and address the issue of informal settlements.
In this article, we have compiled ten affordable housing projects expected to give boost to ongoing efforts to address housing demand in Kigali.
{{Bwiza Riverside Homes}}
The estate located in Karama, Kigali sector of Nyarugenge district was inaugurated by President Paul Kagame on 11th February 2022.
The multibillion eco-friendly homes are developed under a project dubbed ‘Bwiza Riverside Homes’ run by ADHI Rwanda Ltd. ADHI Rwanda is a subsidiary of ADHI Corporate Group established in 2011 in Gabon.
The Bwiza Riverside affordable homes community project was designed primarily with first-time homeowners in mind. Qualifying buyers will choose from four distinct affordable home sizes and styles.
Each of housing units at the estate is estimated to cost between Rwf16 million and Rwf35 million. Rwanda entered agreements with ADHI Rwanda Ltd in November 2020 to implement the project to be completed in five phases.
So far, seven model units have been completed. They are part of out of 245 units expected to be completed this year.
At least 300 million housing units are needed globally not later than 2030 to address housing needs particularly in the Sub-Saharan Africa and Southern Asia.
Commenting on the project, Clare Akamanzi, RDB CEO welcomed the investment by ADHI in the provision of affordable housing.
“It boosts the government’s goal for urbanisation to reach 35 per cent by 2024. However, we need to see more houses being built as there is still a significant gap to meet the demand for affordable housing. We encourage more developers to take advantage of the existing incentives, which include the provision of infrastructures like roads, water and electricity, and a reduced corporate income tax of 15 per cent,” she said.
During the unveiling, guests toured five completed model homes, which will serve as the “blueprints” for all other housing units to be built over the next two years. Upon completion of the development, Bwiza Riverside will comprise 1,680 affordable houses and 720 luxury units.
In addition to the affordable homes, ADHI Corporate has established a training academy for Innovative and Sustainable light steel frame construction. Academy students receive on-site, competence-based training to prepare them for future employment opportunities. As such, the academy students will form a key component in the building of Bwiza Riverside.
To ensure access to affordable financing, enabling more Rwandans to purchase homes in the project, ADHI Corporate has partnered with the Development Bank of Rwanda (BRD).
{{Rugarama Park Estate}}
Rugarama Park Estate project run by Remote Group seeks to build 2000 affordable homes on 42 hectares in Nyamirambo sector of Nyarugenge district.
Rugarama Park Estate is a joint venture between Shelter Afrique, a Pan-African housing finance institution, the Development Bank of Rwanda (BRD) and Remote Group – an engineering and construction firm. The project is also in accordance with the City of Kigali master plan and the affordable housing program under the National Housing Policy. The estate will also be comprised of recreational facilities and shopping malls among others.
Rugarama Park Estate will have 1,200 stacked townhouses priced between Rwf 12 million for a-one-bedroom studio to Rwf 35 million for a convertible 4-bedroom units. The likely buyer into this mixed-income mixed-use community will have an income ranging anywhere from Rwf200,000 to Rwf700,000 and they must be first-time homeowners.
The project is estimated to cost US$131 million. It is expected to accommodate 14,000 residents and provide jobs to hundreds of people during construction and various opportunities after construction due to the traffic in the area.
{{Kinyinya Park Estate Project}}
Kinyinya Park Estate Project is expected to build 10,000 modern homes in Kinyinya. The housing units are set to be completed in the next three years to accommodate 50,000 Rwandans. The project is valued at US$400 million.
The project is a joint venture between the Development Bank of Rwanda (BRD), Rwanda Social Security Board (RSSB), Development Funding Institution (DFI), Eastern and Southern African Trade & Development Bank (TDB), Ultimate Developers Limited (UDL) and Engineering, Procurement and Construction (EPC).It will be implemented between three and five years in five phases.
{{Batsinda Project}}
Batsinda Project seeks to build affordable houses for salaried workers. The Government introduced a subsidy program to cater for 30% of the total price estimated between Rwf20 million and Rwf30 million.
These housing units will only be available for first time home owners. Initially, 548 housing units will be built in Batsinda in Kinyinya sector.
As per figures from Rwanda Housing Authority (RHA), the project’s progress is at 25%.
{{Busanza Housing Estate}}
Busanza Housing Estate is located in Kanombe sector in Kicukiro district. It is comprised of different blocks to accommodate families who were living in Kigali’s largest slum bringing together three zones; Kangondo I, Kangondo II, and Kibiraro I.
Over 570 families have been resettled in Busanza estate while more than 800 families from Kangondo and Kibiraro are to be relocated. So far, 1200 housing units at the Busanza estate have been completed.
Each of resettled residents will receive a unit equivalent to his/her properties in Kangondo and Kibiraro.
{{Vision City Project }}
Vision City is multi-phase housing development in Kigali, Rwanda currently being built by Ultimate Developers Ltd for the Rwanda Social Security Board.
Construction activities for the estate located in Gacuriro of Gasabo district began in 2013. The first phase is comprised of 504 housing units while the entire project is expected to provide 4500 units at a total cost of US$150 million.
The first phase comprises villas and apartments among other categories.
Figures released in 2020 show that 77% of housing units at the estate have been already sold out while 87% of the total cost has been paid. The statistics also indicate that 37% of buyers are public servants, 27% are members of Rwandan diaspora while 9% are foreigners.
In September 2018, the apartments under Vision City estate saw prices slashed to 60% to allow ‘eligible’ civil servants to buy apartments on a mortgage deal to be repaid in 20 years at 11% interest rate.
The discount saw the cost of two-room unit sold at Rwf108 million reducing to Rwf63 million.
Among others, the cost of three-room housing unit reduced from Rwf163 million to Rwf94 million and Rwf187 million to Rwf108 million for a four-room house.
{{Masaka Housing Project}}
A total of 278 housing units under Masaka Housing Project are expected to be built by Remote Estate. They will be classified into five categories namely; 162 apartments, 24 Semi-Detached buildings, 54 townhouses, 7 luxury villas and 34 commercial buildings. Construction of units in the first phase stands at 10%.
The estate will have infrastructures including roads, selling points, garages and playgrounds among other recreational facilities.
Individuals willing to own homes through Remote Estates pays 20% of the total cost in five phases.
A three-bedroom house with a washing room and storage room costs from US$35,000 (approximately Rwf30 million) and above.
{{Riverside City Estate}}
Riverside City Estate has a mega project to build 100 affordable homes in Gahanga of Kicukiro district.
The developer has plots of land in Kagasa cell, Gahanga, nearby Cricket Stadium.
Housing units at the estate cost below Rwf50 million. Interested individuals have options to pay in installments.
Each of houses being constructed at the estate has three rooms, sitting room, dining room, toilets and kitchen.
Each house has a parking for two to three cars, an annex building with an outdoor kitchen, storage room, and another one for security guard.
One house at Riverside City Estate, is stretched on between 300 and 350 square meters.
The second phase of this project is expected to build more 200 housing units in Gahanga. The estate will consist of a nursery school, health center, supermarket and space dedicated for children’s leisure.
{{Project to build 1300 housing units in Ndera}}
The Development Bank of Rwanda (BRD) in collaboration with partners have designed a mega project to build a modern estate in Ndera with affordable housing units ranging from Rwf27 million and above.
The estate will be comprised of 13000 houses on 18.6 hectares. It is estimated to be completed at a cost of Rwf60 billion. Once completed, the estate is expected to address housing unit demand for employees with income ranging from Rwf261,000 to Rwf1.2 million per month.
Of the houses to be built, 80% will be affordable with a price ranging from Rwf27 million to Rwf35 million while 20% will be comprised of luxurious homes.
{{Isange Estate}}
Isange Estate is being developed by Imara Properties at Rebero Hill in Kigali City. The first phase of the project comprised of 14 housing units is expected to be completed in July this year to be followed by the second comprised of 16 units.
These units constructed in compliance with Kigali City master plan are environment friendly while most of construction materials are sourced locally.
Imara Properties was created with a vision to help Rwandans, particularly Kigali City dwellers to get modern homes.
The CEO and Co-founder of Imara Properties, David Benazeraf recently told IGIHE that increased clients’ demand encouraged them to carry on their activities with the second phase.
He said that the first phase will be completed in July while 93% of housing units have been sold.
The second phase of the project will be comprised of 12 apartments and six villas for main residence or rental investment.
It comprises of housing units of different designs featuring sleeping rooms, bathrooms, parking space, kitchen, garden and gym.
Clients can pay 90% of the total cost upfront and the balance later.
There are other options for payments in installments where interested buyers can pay 10%, 20% respectively in the first two months, 30% in the third and fourth month and the remaining 10% in the fifth month. One can also pay 30% upfront and 70% later. Each house has three to four rooms.
A person standing at Isange Estate at Rebero Hill gets a better view Kigali City. It is home to other infrastructures including Kigali Cultural Village.
‘Isange Estate’ was conceived by three Rwandans along with their colleagues from France and Belgium.
To meet the housing unit demand, Rwanda introduced incentives including the provision of infrastructures like roads, water and electricity, and a reduced corporate income tax of 15 per cent to facilitate investors.
The Government of Rwanda has also earmarked 1100 hectares for affordable housing units. So far, 1692 houses have been built in Kigali and secondary cities through six projects while 13 more projects expected to provide 9000 housing units are underway.
IGIHE has learnt from credible sources that the refinery is no longer operational because Alain Goetz, an investor owning 50% shares withdrew his interest. Goetz runs other refineries including Aldabra.
Aldango Ltd started operations in 2017 following agreements signed in February 2017. Each of the shareholders including Alain Goetz and Ngali Holdings owned 50 percent shares.
Aldango was initially running as a business dealing in gold and later set up a Gold refinery on the request of the Government of Rwanda.
The refinery opened in June 2019 to melt and process Gold to get 99.99% of quality before exporting to the international market.
However, the plant did not deliver on expectations after inconsistencies in payments of taxes to Rwanda Revenue Authority (RRA).
It is said that the plant had the capacity to process at least 480 kgs of Gold within 30 hours.
IGIHE has learnt that the company owed tax arrears worth Rwf113 billion to RRA as at the end of 2019.
RRA approached the company’s management for negotiations, but Goetz refused to pay explaining that he was exempted from taxes when he was granted license to operate in Rwanda.
The investor failed to provide related documents until the case was filed to court.
It is also reported that the investor might have dragged himself in Gold trafficking, hence tarnishing Rwanda’s image.
On 27th January 2021, the Government of Rwanda suspended Aldango’s license to export Gold processed from Rwanda.
IGIHE could not access copies of detailed rulings but learnt that the court ordered the sale of Aldango’s properties to pay the tax arrears.
Following the ruling, the investor expressed dissatisfaction through a statement published on Aldango’s website.
Goetz explained that he was deceived when asked to pay taxes yet ‘Aldango was exempted from taxes in consideration of its major purpose to add value to the gold supply chain and promote Made in Rwanda’.
Goetz underscored that he will not stop complaining to have the assets handed back to ‘the rightful owner’ claiming that he has enough evidences.
One of individuals familiar with the issue has told IGIHE, on condition of anonymity, that Goetz had totally refused to pay taxes.
“The company had accumulated huge tax arrears until RRA exempted fines but it bore no fruits,” he said.
It is said that Goetz might have filed his case to French courts with international competencies to get justice.
We tried to speak to RRA officials but could not get comments by press time.
