“Investors came from Asia, America as well as Africa, which to us is success in terms of investment promotion. We have also registered some investment projects estimated at over $60 million,” said the RDB’s Principal Deputy CEO
This week’s Construction Sector/Real Estate Roundtable in Kigali has been successful, according to officials of the Rwanda Development Board (RDB).
The RDB Principal Deputy Chief Executive Officer (CEO), George Mulamula in an interview with the New Times said that the event was a success considering the responses and turn-up of investors from across the world.
“They came from Asia, America as well as Africa, which to us is success in terms of investment promotion. We have also registered some investment projects estimated over $60 million,” he explained.
The roundtable attracted about 150 construction sector and real estate dealers from the region and afar. It was designed to showcase investment opportunities in one of Rwanda’s growing sectors, estimated at 16 percent.
Some of the investors were overwhelmed with the huge investment opportunities Rwanda possesses. Although RDB did not avail details, the one-on-one session saw some investors register their companies well, while others made investment deals.
Ferguson Enterprises Inc., a United State of America based firm that supplies plumbing and building materials was one of the companies registered to start operations in Rwanda.
The Project Executive of Ferguson Enterprises Inc., Shakib Deria, said, “We are absolutely impressed and we have a lot of investment ideas now. We will however start with infrastructure development.”
Security Options LTD, a Kenyan company dealing in security systems was also registered. The company’s Marketing Manager, Peter Mwaniki, they plan to open up a branch in Rwanda soon or later.
The CEO of Singida Wind Power, Chris Incheul Chae, who also doubles as the Secretary General of Africa Future Forum said that he was satisfied with the development of the economy and it potentials.
“As soon as we finalise our projects in Tanzania, we may consider coming to invest in Rwanda.”
He added that the Africa Future Forum will also lure Korean investors into Rwanda considering the investment opportunities showcased.
Singida Wind Power, a Korean infrastructure company is developing wind power generators in Tanzania.
The first ever sector-based forum for investment promotion also offered investor time for expressing their areas of concern regarding doing business in Rwanda.
According to RDB officials, this offers government a chance to continue improving its policies for a conducive investment environment.