RUHANGO — Leaders and the business community in Muhanga district have agreed on plans to establish an investment group that would act as the vehicle to developmental projects.
At a stake holders’ meeting held on October 5 at the district, members agreed that they would use the Ruhango Investment Group to eradicate poverty by harnessing all the necessary resources.
The meeting chaired by the Minister of Commerce, Monique Nsanzabaganwa, and attended by various Ruhango tycoons, decision-makers and local leaders called for serious and committed investors, and formation of a committee to come up with a statute that would regulate their operations.
They also resolved to carry out mass mobilisation to bring residents on board.
“We need to move into a capitalistic direction and get rid of cowardice in business investment so as to stop the trend of other investors exploiting our resources,” Jean Rutayisire, an official of the Private Sector said.
An initial capital and number of shares is yet to be decided by the steering committee after an investment study. A meeting would be convened late this month to approve the laws and guidelines before the official launch.
Priority areas for investment include: hotels, tiles and brick projects, education, produce and milk processing.
At the meeting, Minister Nsanzabaganwa said, “Ruhango has a big investment potential and it’s better if a few projects are chosen and implemented with modern technology and sustainable development.”
Nsanzabaganwa also encouraged the business community to encourage other residents to invest as a way of eradicating poverty.
“The biggest challenge for the investment will be focused on building star hotels, modern secondary schools and a university-which are currently the most crucial needs in the district. Other districts have moved to this level and its high time Ruhango sets pace,” a participant said.