MUHANGA— The minister of Commerce, Monique Nsanzabaganwa, has commissioned Muhanga Investment Group.
The minister launched the Frw325m Group on August 31 at Muhanga cultural center. The Group will invest in a wide range of businesses including hotels, tourism, housing estates, radio broadcasting, mining, coffee washing stations and rural banking, among other things.
During the launch, initial shareholders signed documents committing their membership. The documents leave room for entry of other interested parties countrywide in order to raise the initial capital of Frw500m. The initial capital was agreed upon during an earlier meeting chaired by the Minister of Local Government, Protais Musoni.
At the launch, several residents bought shares totaling to 3250. Each share costs at least Frw100.000.
Muhanga district acquired the biggest number of shares (600 shares) amounting to Frw600m.
Muhanga district and Sonarwa Insurance Company were elected as President and Vice president of the elected administrative committee.
Fidel Ndayisaba, the Governor of the Southern Province, said that three more investment groups will soon be established in Huye and Ruhango districts; adding to the already established similar groups in Kamonyi and Nyaruguru.
Ndayisaba commended the initiative by Muhanga residents, saying, “Investment societies will help residents to pool funds and contribute to the development of the province. Through such activities, many will get employed and poverty will be reduced.”