Home NewsNational Kagame Tips Investors, Inaugurates $50M Kigali Complexes

Kagame Tips Investors, Inaugurates $50M Kigali Complexes

by Dan Ngabonziza
6:53 pm
M. Peace Plaza

M. Peace Plaza

President Paul Kagame has said that he prefers investors who put their money into sustainable investments than nondurable ventures.

The head of state made the remarks on Monday, August 10, as he inaugurated two complexes worth Frw11.7 billion ($54m) in Kigali City.

“There are investors who invest in profitable ventures, which is good…but you [government] must be demanding so that your contractors provide durable and quality services.”

Kagame’s remarks meant to highlight and appreciate the likes of  local investor Bertin Makuza whose $42 million 15-storey building was inaugurated.

According to Makuza, construction of his building cost $22 million from his personal savings, while $20 million was obtained as a loan from International Finance Corporation (IFC) and GT-Bank.

Makuza told KT Press that raising this complex “ was a long journey.”

“But I constructed this building out of confidence I have in this country’s security and peace,” Makuza added. “That’s why I named it M. Peace Plaza.”

Indeed, as Kagame addressed the business community in attendance, he said that for Rwanda to develop at a level where it is today, “there was a sense of belief.”

“We believed that this country must resurrect from the dark period it went through to where it is and even beyond.”

Kagame said that these investments are a reflection of Rwanda’s transformation. Such transformation, he said, is a message to those who attempted to destroy the country.  “We survived and we will thrive.”

Meanwhile, the president also inaugurated the new Kigali City Hall that was constructed at a tune of $14 million.

City mayor, Fidel Ndayisaba told KT Press that the new hall will help the city save Rwf12 million spent on rent every month.

And Makuza’s 10,000 square meter complex will provide space for offices and parking yards, as well as apartments for the growing city.

New Kigali City Hall

New Kigali City Hall