The Rwanda Grain and Cereals Corporation (RGCC) a newly established and registered company launched by the Ministry of Trade and Commerce (MINICOM) aims at addressing challenges affect grain and cereals trading.
RGCC will establish a structured grain and cereals trading systems to better organize the national trade, practices, and promoting approaches to trade that help farmers, suppliers, traders, processors transform their business, the ministry recommends.
Minister François Kanimba told press that RGCC is an extremely important venture for Rwandans, for the shareholders and for the Ministry of Trade and Industry.
“We have achieved a very important step forward. Everything is going to move smoothly,” Kanimba said.
He added,“Priority is to make sure that farmers’ cooperatives have money from financial Institutions so that they can start to collect cereals and grain produced countrywide.”
Kanimba stressed that RGCC will support the on-going work in the Crop Intensification Program in coordination with MINAGRI focusing on socio-economic benefits in trading and marketing of grain and cereals productivity.
This will be done through capacity development of farmers, promotion of agri-business, and institutional improvement of the corporation to support structured trade in Rwanda.
RGCC is a private company limited by shares, whose initial capital funds are Government of Rwanda that will invest Rwf 2,845,000,000 and will have a controlling stake of 56.9% of the company and will shade the shares as private sector expresses interest to buy the shares; Cevitaland Benamor, Algerian Investors who will invest Rwf 2,000,000,000 worth 40% of the company’s stake.
Finally the local private investors will invest Rwf 155,000,000 worth 3.1% of the company’s stake.
Competitive advantages to be developed for RGCC include online and interactive regional agricultural market information systems and Geographical Information Systems.
It is expected that the RGCC will be operational by February 2012. In the meantime it`s board members plan to meet in few days to approve the six months action plan and budget.
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