The second phase of Rusizi District’s modern market that was initially due for completion in 2013 has now been pushed to October this year. Jean Bosco Seminega, the president of Rusizi Investment Corporation (RIC), a consortium of 49 business people behind the construction of the market, said poor management and delay in disbursement of funds had hindered the implementation of the project RIC was set up in 2011 and construction of the market begun in 2012. “We went to various banks requesting for loans but we could not get a positive feedback. The company used over Rwf300 million from its own coffers and in 2013, received a Rwf990 million loan from Rwanda Development Bank (BRD) at 16 per cent interest rate,” he said. The total cost of the three-storey building with over 300 rooms is estimated at Rwf2 billion. Rusizi Vice Mayor in charge of Finance and Economic Development, Léoncie Kankindi, said the market would accomodate many traders, including those who have been operating behind commercial buildings in Rusizi City. Some of the construction delays were due to mismanagement issues. She said some members of the administrative committee of RIC resigned due to mismanagement, and after the election of the new committee, there was no handover, which made the construction activities stall for about two years.
