Completion slated for Dec 2010
Kigali Free Trade Zone (KFTZ) has changed the name to Kigali Special Economic Zone, an official said during an exclusive interview.
Alexis Ruzibuka Chairman of the taskforce that is tasked to implement the project said KFTZ requires exporting 80 percent of the total production out of the region and only 20 percent would be sold domestically.
“Kigali Free Trade Zone would not be a good deal for us (Rwanda) because it has a threshold requirement and EAC is our target market and this was a big challenge in terms of investment returns,” Ruzibuka said.
Ruzibuka said with the new name, it will be more competitive with flexibility to accommodate different activities like ICT Park, trading facilities, free port and export processing zones.
The name was changed after different consultations with stakeholders and visiting other economic zones in the region.
“Kigali Special Economic Zone will sell itself; it will be easy to sell a soft ware or other services and products to the region,” he added.
According to Ruzibuka, the project has been implemented to the tune of 80 percent and is slate to be completed by end of this year.
“We have to have completed infrastructure development by November this year” he said.
The project is expected to cost between Rwf20 and 25 million and 70 percent of the resources has been disbursed.
Competent suppliers are hired to meet the deadline; they include East African cables that supplied the cable and installed by ABB, Zeneth limited supplying water tanks, Reco-Rwasco for electricity connectivity and water systems. Three months ago Reco installed offsite power for lighting the site.
“The implementation is an achievement to the country, because it was solely done by Rwandans and it is proof that Rwanda can do even bigger projects,” he emphasized.
The 100 infrastructures developed include sewage system, road network, electricity, water system and fibre optic.
“This is the first of its kind in the region which is tremendously modern even Mauritius does not have the fibre optic,” he stressed.
The project is expected to be launched in January next year and will have 70 percent occupancy. New investors will be transferred to the industrial park.
Ruzibuka is optimistic that the project will attract potential investors given the geographic position, business environment and good governance.
“Rwanda has something to sell because before, there was no specific area dedicated for investors,” he said.