Madhvani Group, a multi million dollar group of companies valued at $200 million (Rwf113 billion) as of April, 2009 is planning to rollout further investments in Rwanda’s ICT and insurance sector within the course of next year, the groups’ director has revealed.
Jim Mwine Kabeho told The Business Times that the group’s Software Application firm will start as early as January, 2010. Software Applications Uganda is the channel partner for ‘Systems Union’ and ‘Sun Systems’ that provides business solutions such as accounting, and human resources.
“We are targeting a joint venture with local IT firms but even if there is none to partner with, we will rollout. The insurance firm will then follow within the course of next year,” he said.
Kabeho added that this IT investment project is a priority that was highlighted during the group’s meeting with President Paul Kagame.
The group which also owns Rwanda’s sole sugar factory, Kabuye Sugar Works (KSW) highlighted three investment projects; tourism, insurance and ICT during their meeting with the President.
The upcoming investments were valued at $20 million (Rwf11.3 billion) and will additions to about $13 million (Rwf7.3 billion) that was invested in the sugar industry.