District to construct new hotel

GAKENKE - The Business community in Gakenke District under the umbrella association, Gakenke Investment Promoters-GIP, have agreed to construct a hotel in the district through a joint investment programme. At the group’s meeting recently, it was revealed that up to 75 registered members hope to collect over Rwf150 million towards the initial capital requirements of the project. Under the investment scheme members are expected to buy at least four shares with each share costing Rwf100,000. The scheme stipulates that no shareholder will be allowed to subscribe into more than 20% of the initial capital stock of the venture. The vice-Mayor in charge of Economic Affairs, Felicien Mporanyimana, said that the project is part of the district’s plan to develop the tourism sector. He further noted that while Gakenke, is one of the biggest districts in the Northern Province, it lacks hospitality outlets. He added that there are other untapped opportunities in the district including coffee processing and as well as opportunity within brick-making industry. He called on residents to embrace entrepreneurship for the purposes of boosting new development initiatives. Ends