City investments reach Rwf 385Bn

KIGALI - Kigali City Construction One-Stop Centre has approved 64 investment projects worth Rwf384.6bn since its inception in April last year to facilitate doing business in the country. Joshua Ashimwe, the Acting Coordinator of the centre, revealed this yesterday in Kigali, while addressing the press on the current status regarding the implementation of the City Master Plan. Ashimwe said that 20 of the approved projects are currently under construction, and that the average period for approval of each project was 21 days.So far 169 construction applications have been received by the centre. Among the approved projects are five hotels valued at about Rwf4.9bn, 14 commercial complexes (Rwf73.1bn) and seven apartment buildings worth over Rwf15.1bn. Others are two industries (Rwf1.8bn), an oil reserve facility (Rwf288m) to be constructed in Kabuga and four Churches (over Rwf1.7bn), among others. By September last year only 36 construction permits worth Rwf 96.6 billion had been approved by the centre.City Mayor, Aisa Kirabo Kacyira said that investments worth Rwf300billion are in the Central Business District (CDB). She observed that the implementation process of the master plan is still at less than 10 percent, but added that “the core principles and the guidance and mobilization have gone further than that.” “Implementing the Master Plan is a process. First there has to be a common understanding in the community because we have stakeholders in the development of the city. The communities, politicians, the investment community, all need to come on board,” Kirabo noted. She added that currently the city has an investors’ forum where they meet with the private sector to iron out problems that could be affecting the investment process.The Mayor, however, said that they are currently facing challenges, which include the quality of project proposals submitted by the investors. “People have got the concept of what they want to do, but being able to scientifically express that in a manner that fulfils all the requirements is where we still have a challenge,” Kirabo said. The One Stop Centre was established to address challenges formerly faced by prospective investors, especially in the acquisition of documents like land titles. Ends

National

City investments reach Rwf 385Bn