SOUTHERN PROVINCE

RUHANGO — The business community in the Ruhango district have launched an investment group to spearhead development in the area.

Monique Nsanzabaganwa, the Minister of Commerce, officially launched the Ruhango Investment Company (RIC s.a) on Sunday, at the district cultural center.

RIC will invest in a wide range of projects including building hotels, tourism development, mining, constructing factories to developing agro businesses among other things. 

The minister commended the ambitious initiative saying:

"Investment societies will help residents to consolidate funds and contribute to the development of the province through value added to local products.” She added that through such activities, many residents will be employed and thus reduce poverty.

At the function, initial shareholders also signed a binding pact. The pact however, leaves room for the involvement of other interested parties countrywide, so as to raise the initial capital of Rwf500million.

The event was marked with residents buying more shares each at a cost of Rwf100,000 and local leaders urged the business community to attract more residents to join.

Citing cassava and pineapple fruit production, Catherine Mukayire, the acting Mayor, pointed out that Ruhango has a big investment potential with a lot of untapped opportunities. She called on investors to explore various available opportunities to attain development goals of the district.

MP François Byabarumwanzi, urged the business community to mobilise more shareholders in the country. Similar district investment groups in the province have been established in Kamonyi, Huye, Muhanga and Nyaruguru districts.

Ends