GE forays into Rwandan market

Local businesses are set to benefit from long term financing, mainly through leasing as General Electric, an American firm announced it has set shop in Rwanda. According to Jay Ireland, the President and Chief Executive Officer of GE Africa—which has its headquarters in airobi, Kenya— through GE capital, finance and leasing division, Rwandan businesses will be able to access capital to boost their business. “We use our array of financial products and services to make sure we meet our customer needs and with our experience in development of aviation infrastructure, Rwanda is going to benefit a lot,” he told Business Times, Tuesday. Last year, GE facilitated RwandAir to secure two Boeing 737-500s allowing the national carrier to adequately serve its market and expand flights to West Africa and Dubai. “We will look for projects to finance as well as financing equity,” Ireland said. GE also deals in energy, healthcare, aviation and transportation. Ireland the company was inspired by Rwanda’s wide-range of business reforms. “We have financed both private and public hospitals in Rwanda with medical equipment which we believe will improve health in the country and increase the economy,” he added. The Minister of Finance and Economic Planning, John Rwangombwa, noted that despite challenges in energy and infrastructure sectors, the country has managed to rank high in doing businesses due to favourable policies and stable macroeconomics. “We have come up with a strategy to market specific areas of interest for investments,” he said. dias.nyesiga@newtimes.co.rw

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GE forays into Rwandan market