SOUTHERN PROVINCE

RUHANGO — The Minister of Commerce, Monique Nsanzabaganwa, has advised the business community in the Ruhango district to fully utilise the newly established Ruhango Investment Company (RIC).

Nsanzabaganwa made the call on November 30 during a meeting to assess the progress of RIC at Ruhango district offices. 

The meeting was convened to set strategies for the company to start operating as soon as possible and was attended by members of the district leadership and the business community.

The minister said: "There is need to increase the participation of residents by buying more shares, and this call for awareness campaign in rural areas including in the Sectors, in villages they all need information about the project.”

The participants unanimously resolved that local leaders should spearhead the mobilisation of funds through residents especially during community work (Umuganda) so as to raise at least the initial capital of Rwf300million.

"The company is not for town people alone. We need serious action and involvement of rural tycoons, who have money to expand our investment prospectus to the level of bigger investors in Kigali,” one participant said.

So far Rwf153m has been raised.

According to Catherine Mukayire, the district vice Mayor, the investment group has embarked on mass campaigns to increase the number of share holders so as to enable the company kick off by January 2009.

The first general assembly is slated for next year, during which shareholders will sign up for their shares and endorse the company statute. 

Priority investment areas for RIC include: hotels, tiles, brick laying projects, education, agriculture and processing of livestock products.

Ends