RECO-RWASCO makes profit after restructuring

HUYE - The Rwanda Electricity Corporation & Rwanda Water and Sanitation Corporation (RECO & RWASCO) is now making profits after undergoing massive restructuring, the Managing Director has said. Talking to The New Times on the sidelines of accountability day for the RECO & RWASCO Huye district office, Yves Muyange revealed that the Corporation which used to be classified as a ‘non-going concern’ prior to 2008 is now making profits. “The company made about Rwf300 million worth of profits in 2009,” said Muyange, “our financial statements are positive that is why the company is going forward in terms of investment, rehabilitation and service delivery.” Addressing clients from Huye district, Muyange revealed that the corporation is still undergoing changes. He said that in future, solar energy, gas, and water and sanitation in rural areas will also fall under the corporation to form the Energy, Water, and Sanitation Authority. He explained that the Electricity Access Scale-up Roll-out Program has set a five-year strategic target to increase the electrification rate in the country from the current 9 percent to 16 percent. Vedaste Tuyisenge, the RECO &RWASCO Huye branch manager noted that the number of people connected to electricity and water had grown tremendously since 2006. He highlighted a number of ongoing rehabilitation programmes all geared at improving water and electricity distribution in the districts of Huye and Gisagara. The Huye district Vice Mayor in charge of Economic affairs revealed that the district, with support from the Common Development Fund, has earmarked about Rwf280 million to rehabilitate public lighting in Butare town and the neighbouring sectors. Ends

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RECO-RWASCO makes profit after restructuring