A new partnership that focuses on developing Rwanda’s automotive industry by establishing a centralised service centre for maintenance, repairs, remanufacturing, and parts distribution, was signed on Monday, December 16, with potential expansion into hospitality and real estate, the Rwanda Development Board (RDB) said.

RDB CEO Francis Gatare and Oweis Zahran, Group CEO of Melt Holdings, signed a related memorandum of understanding (MoU) with Omar Al Mulla, CEO of Investment at Sharjah Asset Management.

Sharjah Asset Management is the investment arm of the Government of Sharjah in the United Arab Emirates (UAE).

The government-owned investment company has investment portfolio that consists of core target sectors including banking sector, real estate, oil and gas, logistic and transportation, commercial and retail, and technology and Communication.