Nakumatt to invest Frw3.5b in Rwanda

NAKUMATT, a leading department store in Kenya has opened a branch in Rwanda promising to invest $7m (about Frw3.5 billion) in a world class supermarket. Nakumatt Rwanda is hiring 25,000 square foot space to stock more than 20,000 products which include foods, beverages, stationeries, electronics, toiletries and furniture. Nakumatt City Centre Supermarket opens ahead of an upcoming Nakumatt Gateway Mall at Kimuhurura. Land occupied by the Republican Guards in Kimuhuru has been allocated to Virunga Property Development LTD the developers of the Gateway Mall. The mall will also habour offices space and apartments. As Nakumatt holdings we are delighted to register our first regional presence outside Kenya in Rwanda as a testimony of the vibrant local economy and conducive investment conditions, Thiagarajan Ramamurthy, director of operations in Nakumatt said at the launching of store in Kigali on Monday. The government through Rwanda Investment and Export Promotions Agency Riepa has been very instrumental at Nakumatt’s entry in the Rwandan market. Nakumatt promises to employ 60 Rwandans, develop the capacity of the employees. At the launch, Vincent Karega State Minister for Industry and Investment Promotion said the coming of Nakumatt is timely. He hopes the department store will exploit the retail sector. The entry of Nakumatt in the Rwanda will not only benefit direct beneficiaries but also the government in terms of taxes and other duties, Karega said.Ends