Libya to expand investments in Rwanda

KIGALI - The investment arm of the Libyan government, Libya African Investments Portfolio (LAP), is keen on investing large sums of money in other sectors of the Rwandan economy. The Chief Executive Officer of Rwanda Development Board, John Gara, revealed that the Libyans have hopes of exploring opportunities in mining, agriculture, real estate and tourism. LAP has already invested in telecommunications and hospitality with the acquisition of controlling stakes in Rwandatel SA and Laico Umubano Hotel respectively.  “The amount of their investments may increase because they are still identifying more opportunities in the country,” Gara said.