FEATURED: KTN Rwanda, Letshego Rwanda Plc sign agreement to provide affordable plots in Rusororo

KTN Rwanda, a property management company, has on March 24 signed a business partnership agreement with Letshego Rwanda Plc, a bank, whereby it will channel its customers – who wish to borrow mortgage loans – to the bank. As the partnership unfolds KTN Rwanda customers with 50 per cent of the value of the plots will be channeled to Letshego Rwanda Plc for another 50 per cent plot financing and the plots bought will be pledged as collateral. Letshego Rwanda will also be able to finance up to 100 per cent to any KTN customer subject to loan approval criteria. KTN Rwanda Ltd usually provides exclusive service with high level of satisfaction to its customers in Property management, Property renovation management and obtaining lease contract, Application of construction permits, and Document ownership mutation services. According to Philemon Hagenimana, Chief Executive Officer of KTN Rwanda, the company seeks to sell 450 plots, equivalent to around 25 hectares. He revealed that each plot costs Rwf 4.5 million and that a customer can pay Rwf 2.5 million and Letshego Rwanda PLC can offer the rest of the money as a loan within seven days. He noted that the company has license of every plot, adding that an agreement between the land owner and the buyer is signed in the district’s notice which prevents future conflicts that may occur between the two parties. The Rusororo site where KTN Rwanda has plots is located in Gasabo District just less than twenty minutes’ car drive to Kigali’s city center. According to Hagenimana, all the plots at the site are between 300 to 400 square metres and they can support houses of either one or two families. He also called upon youth to grab the opportunity since Letshego Rwanda will provide them with a rent to be paid in three years. He added: “We are proud of our market share and competitive advantage and we will keep improving our service delivery as a key to success. With a great honor of serving our customers, we are extremely proud to partner with Letshego Rwanda in our journey of ensuring an exclusive service delivery to our valuable customers and help our customers to find the best property at an affordable price ever in Rwanda.” Gilbert Ndahimana, Head of Sales at Letshego Rwanda Plc said that the interest on the loans it will offer will be between 18 and 30 per cent and will be set in favour of the customers. He declared that in case a customer faces a challenge regarding the payment they will discuss with them and either increase the time to pay the loan or reduce interest rate. The bank is celebrating ten years in Rwanda providing financial solutions to underserved business owners and entrepreneurs and salaried employees. Desire Matabishi Nsabimana, Executive Secretary of Rusororo Sector, was among the local dignitaries who witnessed the signing. He said that many plots at the site were just farms and no people lived there and urged people who own plots to be the first to build preferred houses there. He noted that they are going to work with Rwanda Energy Group (REG) and Water and Sanitation Cooperation (WASAC) so that they can install water and electricity at the site as soon as possible.

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FEATURED: KTN Rwanda, Letshego Rwanda Plc sign agreement to provide affordable plots in Rusororo