Rwandex buyers to upgrade factory

KICUKIRO - The purchasers of the defunct Rwandex coffee factory, plan to upgrade the factory’s productive capacity and value addition in a bid to target a broader market for the product. In an interview with The Sunday Times, Marc Sacks, the buyer of Rwandex Gisenyi, revealed that he intends to repackage the factory and give it a specific new brand befitting the Rwandan and international markets. He also pointed out that he is planning to buy a roaster in order to produce finished coffee ready for the domestic and foreign markets. “I am going to buy a roaster such that value addition can be done here. This will enable the factory produce a fully accomplished product ready for regional and international markets,” pointed out Sacks. In another phone interview with Matt Smith, of Rwanda Trading Company, the buyers of Rwandex Gikondo, he said they are still finalizing with the sale processes but will embark on upgrading the factory as soon as the sale is wrapped up. “We are still finalizing with the sale but in a months time we shall be done and we shall do a makeover on the company, to step up its operation and productivity,” he pointed out. These companies were generally impressed by the coffee supply in Rwanda for instance Sacks noted that he foresees a good supply of coffee supply from local farmers as well as from outside. “I anticipate a good supply of coffee both from local farmers and outside and I see a great future in Rwanda,” noted Sacks. Both factories of Gikondo and Gisenyi were sold at a total of 1.533 billion Rwf, with Rwandex Gikondo going at 621 million Rwf and Gisenyi going for 912 million Rwf. The sale of Rwandex followed the company failing to clear a Rwf3 billion debt, which subsequently led to one of the biggest liquidations in Rwanda’s economic history. By the time of the liquidation, Bank de Kigali was demanding Rwf 2.169bn while Banque Populaire du Rwanda and COGEBAQUE combined were owed Rwf 1.1bn by Rwandex. Ends