KAYONZA– The Eastern Province Investment Cooperation (EPIC), over the weekend, raised Rwf1.7 billion towards the construction of a four-star hotel in Nyagatare town.
EPIC, a local investment consortium, had earlier raised Rwf1.5 billion for the same project, which brings the total amount to Rwf3.2 billion.
According to Charles Kamanzi, the EPIC Chairman, the hotel guests will enjoy high quality services in an exclusive environment.
“We already have more cash than we need...so, by August we should be able to start the construction. The modern hotel is no longer a dream,” he said.
“Guests will have all recreational services, including a swimming pool, sauna and will maintain a blend of traditional and modern trends.”
He noted that the hotel will be built at a cost of not more than Rwf2.5bn.
The EPIC chairman disclosed that the hotel will offer well-equipped conference facilities for up to 500 people.
Alfred Nkubiri, who is on the EPIC advisory committee, said that the consortium also intends to engage in commercial agriculture.
“It is unfortunate that some people still don’t know what investing in agriculture means...it means huge profits and wealth. I can testify. It is high time Rwandans thought big about modernising agriculture,” he said.
Dr. Aisa Kirabo Kacyira the Governor of Eastern Province, called upon the residents to buy shares in EPIC.
“I am a shareholder in EPIC because it will not only make profit, but it will also develop the Province and its people. So, let us mobilise more people into EPIC,” she said.
The ceremony was attended by all local leaders in the Province.