Home Business & Tech Indian Investors Pledge $ 1Billion Ventures for Rwanda

Indian Investors Pledge $ 1Billion Ventures for Rwanda

3:54 pm


Indian Investors have pledged to establish over 100 investments worth $1billion in Rwanda

Indian investors have pledged a $1 billion to invest in new technologies that would improve social wellbeing of Rwandans.

Under a 2 year program, the $1billion worth of investment will be distributed in over 100 investments.

The investors were part of the delegation led by India’s Vice President Shri Hamid Ansari currently in Rwanda for a 3-day official visit. The delegation included 11 exhibitors and 10 investors.

While meeting with Rwanda’s Private Sector Federation, the Indian investors said their companies are ready to register in Rwanda without further delays while others have already registered.

WaterLife an Indian water purifying company intends to establish up to 20 community based water processing facilities each worth $25,000 in the next five to ten years.

The facility will provide clean tap – water.

Rohith Radhakrishnan, technical manager with Waterlife Rwanda who registered the company last week at Rwanda Development Board said for the first time ever, Rwandans will pay between Rwf300 and Rwf400 per jerrycan (20 liters) to get clean water, ready to drink without any further treatment.

“To close a chapter on water shortage, we are investing heavily in this project. One of the facilities is already under clearance waiting for installation in the countryside, because Kigali already has access to water,” Roth told KT Press.

“Our equipment from India have a capacity of processing 1000 cubic litres per hour and this will make it easy to us to meet the water demand.”

Another Indian option for home water use is a $15 filter with 10 years warranty.

According to J Chandrasekaran the director of Watsan, the company also provides eco-friendly toilets- they may be useful in the Rwandan market.

You can use any dirty water in this water filter and after a few hours you will have clean water ready for drink.

“We are thinking of establishing in Rwanda as soon as we conduct a business study here,” said Chandrasekaran.

India’s Vice President Shri Hamid Ansari (extreme left) and Rwanda’s Prime Minister Anastase Murekezi (2nd L) guided around an exhibition

Among other deals also, the investors signed a Memorandum of Understanding (MoUs) to build entrepreneurship development and research centres.

They will consist of facilities equipped with computers and teaching the youth several skills; designing a computer App and, computer maintenance.

Another MoU signed was on mutual exemption for diplomatic and service visa between Rwanda and India.

The head of Indian business delegation, T. Muralidharan also Executive Chairman of the Federation of India Chambers of Commerce and Industry (FICCI said that the partnership is a transfer window for African countries starting with Rwanda.

Emmanuel Hategeka, the Chief Operating Officer for Rwanda Development Board (RDB) said that the deals will promote Rwanda that intends to become a global investment hub.

“We are ready to register any Indian business under this partnership immediately. We guarantee security, market access, returns and connectivity in this partnership,” Hategeka said before the deals were signed.

The deals signing event was overseen by Rwanda’s Prime Minister Anastase Murekezi and the visiting Indian Vice president.

Ansari hailed the existing bilateral relation between both countries and called for a need to strengthen the relationship that benefits all.

On day-two of his visit to Rwanda, the Indian vice president visited University of Rwanda, College of Science and Technology and said, “Bilateral trade between Rwanda and India has doubled from the last 5 years.”

He said the trip will have mutual benefits because, “We can learn from each other in terms of capacity building and innovation.”