GICUMBI —  Members of Gicumbi Private Sector Federation (PSF) are set to start an investment company that shall spearhead development in the area.

The company named Gicumbi Global Investment was launched on Saturday by the Minister of State for Primary and Secondary Education, Mathias Harabamungu, together with governor of the Northern Province, Aime Bosenibamwe at Byumba’s Hotel Urumuli.

It will bring together 400 shareholders and each shareholder shall be required to pay a minimum of Rwf500,000. 

At the inaugural ceremony, the acting chairman of Gicumbi Global Investment Company, Etienne Ndimukaga, said the company intends to invest in profit generating economic ventures such as agro business, industry, hotels and tourism.

"The company intends to inject funds in putting up ventures such as establishment of milk processing plants while considering making investments in  passion fruits juice manufacturing.

We are also considering venturing into the hospitality industry through construction of hotels along Muhazi and Rugezi lakes,” said Ndimukaga.

Minister Harabamungu called on shareholders of the new company to invest largely in milk processing plants, because there is a ready market.

"Government is committed to providing milk to all primary school pupils, which is why you should take this opportunity of a ready market to produce milk in large quantities,” he said.

He hailed the initiators of Gicumbi Global Investment Company, saying it is in line with government’s  strategies to attain Vision 2020. 

Governor Bosenibamwe advised members of Gicumbi Private Sector to work as a team in their quest to eradicate poverty and steer economic development.

"Through pulling together your resources to invest in income generating ventures, you create employment for many residents who in turn earn a decent living,” he said.

A representative of Rwanda Development Board (RDB) Francois Kavatiri assured the new investment company of RDB’s full support.

"RDB shall assist Gicumbi Global Investment Company through making business plans, availing investment opportunities and market for their products,” said Kavatiri. 

Also present was Gicumbi District Mayor Bonane Nyangezi, Rwanda Defense Forces (RDF) 408 Brigade Commander Brig. General Eric Murokore, Sector Executive Secretaries and sector agronomists. 

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