Clarification of RDB position on Nakumatt and Madhvani projects in Rwanda

Editor, I wish to clarify statements associated to me in the story that run in The New Times of 21st July 2009 titled “Madhvani group takes over Nakumatt land” , where I was quoted as having claimed ignorance to the Madhvani hotel project in Rwanda. In response to a question put before me, to comment on whether it was true that the Nakumatt project had withdrawn its expansion plans in Rwanda, and that Madhvani had taken over the land initially allocated to Nakumatt, my response was that I was unaware of the claim that Nakumatt had no further plans of expanding in Rwanda, because our most recent discussions with Nakumatt indicate that they still have plans to expand to a second supermarket, after their experience with the current store at the UTC building. I therefore advised that Nakumatt would be best placed to provide their exact plans. With regard to Madhvani, I was erroneously quoted as having claimed to be knowledgeable of the project. RDB is fully aware of Madhvani’s intentions to build a Hotel in Kigali, and that discussions with Kigali city on land are ongoing. What I could not confirm was that Madhvani had taken over Nakumatt land as intimated by the reporter, as I expected discussions were still ongoing. I advised that those details be sought from Kigali city. RDB is not only aware of Madhvani’s planned investments but also very much welcomes the investment in Rwanda, as an significant boost to Rwanda’s tourism industry. At the same time, RDB pledges its continued support to Nakumatt, as it develops its plan to expand in Rwanda. With the Kigali Master Plan and improved land regulations, Investors will be assisted to determine land allocation suitable for their projects. Investors are reminded that RDB’s one stop centre currently houses Representatives from all three districts of Kigali City (Nyarugenge, Gasabo and Kicukiro) who process land applications for investors within RDB, on behalf of the districts. The same is true for a Representative from Electrogaz who is handling water and electricity applications. Clare AKAMANZIDeputy CEO, Business Operations and ServicesRwanda Development Board

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Clarification of RDB position on Nakumatt and Madhvani projects in Rwanda