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Old November 27th, 2010, 12:03 PM   #1
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Rwanda | Economy and Infrastructure News

Societe Tunisienne del L’Electricite et du Gaz, or STEG, signed a $68.6 million contract to connect 50,000 households to Rwanda’s electricity grid.

STEG will build the electricity network over two year, while Rwanda pays in installments over five years, Yves Muyange, managing director of Rwanda’s electricity and water utility, said by phone from the capital, Kigali, today.

The project is part of a $380 million program to increase the number of households with electricity to 350,000 from 110,000 as of June. The program is being financed by the government and its development partners, Muyange said.

“The project is part of government efforts to connect 50 percent of the population by 2017,” Muyange told reporters after signing the project agreement on Nov. 23.

http://www.bloomberg.com/news/2010-1...in-rwanda.html
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Old November 27th, 2010, 12:05 PM   #2
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Indian firms have shown interest in investing in Rwanda promising to start big projects worth millions of dollars.

They are interested in information technology, mining, agro-processing, education, pharmaceuticals and energy, Clare Akamanzi, Chief Operating Officer Rwanda Development Board told reporters recently.

Rwanda Developments Board (RDB), a government agency created to facilitate investments says at least 26 Indian companies have shown interest to invest in Rwanda. Some of them include, Essar Group, Tata Group, Karox Company, Hiranandani Hospital and Welingkar Institute of Management.

"We cannot say how much in terms of investments or give a time frame now, but project proposals we discussed are in the hundreds of million dollars, " said Akamanzi shortly after returning from India for an Investment Road show.

The shows were held in Mumbai, Ahmedabad, New Delhi and Bangalore cities. The Rwanda Development Board (RDB), and the Federation of Indian Chambers of commerce (FICCI), organized the show. Participating in the India road investment, according to John Gara, is part of Rwanda's new strategy to attract specific investors.

"[It is part] of targeted sector investment promotion," Gara explained. "The whole world is looking at India, China and Brazil. "Even American investors want to go to India," said Gara. So far 29 indian projects valued at $55 million have registered with the Rwanda Development Board. Akamanzi says, Essar Group may invest in Rwanda's geothermal industry, while Tata expressed interest in the transportation and information technology sectors.


The two Mumbai-based companies could begin feasibility studies before the end of this year, according to RDB. "New Delhi-based Universal Empire has handed the Rwanda Development Board a $250 million proposal to establish an education facility," a statement from RDB says.

The statement further says, Cadila Pharmaceuticals could set shop in Rwanda very soon. "This company is already negotiating with government to set up a pharmaceutical plant in Rwanda. Faustin Kananura Mbundu, Chairman East African Business Council said when the Indians invest in Rwanda the rest of the region benefits.

He said the team from Rwanda exchanged investment proposals and signed Memorandum of Understanding with associations representing Indian commerce and industry.

RDB's Akamanzi says, "The particular importance is the MOU with the Karnataka Small Scale Industries Association which provides for industrial attachments and training to Rwanda entrepreneurs and students at members' plants."

http://allafrica.com/stories/201011081413.html
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Old November 28th, 2010, 02:50 PM   #3
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Indian firms have shown interest in investing in Rwanda promising to start big projects worth millions of dollars.

They are interested in information technology, mining, agro-processing, education, pharmaceuticals and energy, Clare Akamanzi, Chief Operating Officer Rwanda Development Board told reporters recently.

Rwanda Developments Board (RDB), a government agency created to facilitate investments says at least 26 Indian companies have shown interest to invest in Rwanda. Some of them include, Essar Group, Tata Group, Karox Company, Hiranandani Hospital and Welingkar Institute of Management.

"We cannot say how much in terms of investments or give a time frame now, but project proposals we discussed are in the hundreds of million dollars, " said Akamanzi shortly after returning from India for an Investment Road show.

The shows were held in Mumbai, Ahmedabad, New Delhi and Bangalore cities. The Rwanda Development Board (RDB), and the Federation of Indian Chambers of commerce (FICCI), organized the show. Participating in the India road investment, according to John Gara, is part of Rwanda's new strategy to attract specific investors.

"[It is part] of targeted sector investment promotion," Gara explained. "The whole world is looking at India, China and Brazil. "Even American investors want to go to India," said Gara. So far 29 indian projects valued at $55 million have registered with the Rwanda Development Board. Akamanzi says, Essar Group may invest in Rwanda's geothermal industry, while Tata expressed interest in the transportation and information technology sectors.


The two Mumbai-based companies could begin feasibility studies before the end of this year, according to RDB. "New Delhi-based Universal Empire has handed the Rwanda Development Board a $250 million proposal to establish an education facility," a statement from RDB says.

The statement further says, Cadila Pharmaceuticals could set shop in Rwanda very soon. "This company is already negotiating with government to set up a pharmaceutical plant in Rwanda. Faustin Kananura Mbundu, Chairman East African Business Council said when the Indians invest in Rwanda the rest of the region benefits.

He said the team from Rwanda exchanged investment proposals and signed Memorandum of Understanding with associations representing Indian commerce and industry.

RDB's Akamanzi says, "The particular importance is the MOU with the Karnataka Small Scale Industries Association which provides for industrial attachments and training to Rwanda entrepreneurs and students at members' plants."

http://allafrica.com/stories/201011081413.html
29 projects at $55 million? Thats nothing- thats just $2 million for each project.

The $250 million education thing sounds interetsing though- im guessing it will be a campus of an Indian university or some sort of IT training facility.
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Old November 28th, 2010, 10:39 PM   #4
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29 projects at $55 million? Thats nothing- thats just $2 million for each project.

The $250 million education thing sounds interetsing though- im guessing it will be a campus of an Indian university or some sort of IT training facility.
an education facility for 250 million dollars? are they going to introduce nanotechnology. i mean the equipment for nanotechnology cost about 27 million dollars.
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Old November 29th, 2010, 12:51 AM   #5
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29 projects at $55 million? Thats nothing- thats just $2 million for each project.
Your thinking of developed countries. You forgot how cheap it is to do things in Africa. Just convert that money into local currency.

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The $250 million education thing sounds interetsing though- im guessing it will be a campus of an Indian university or some sort of IT training facility.
Thats a good amount of a small country and for a start. They will just plant 1 or 2 large campuses in Kigali. That can welcome more than 5000 students. That very good for 1 single higher learning Institute. It 's not like it will be for the entire education system.

So imagine opening another amounts like that for 3 or 4 more technical institutes in 8 years.
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Old November 29th, 2010, 10:15 PM   #6
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I think it will be an ICT university, cause Rwanda want to become an ICT hub in Africa.
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Old December 11th, 2010, 02:50 PM   #7
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Rwanda hosted a 17-member delegation from Singapore on a four-day trade mission to explore investment opportunities, as well as, establish closer and more concrete business relationships between Rwanda and Singaporean business communities.

The delegation comprised investors from various sectors including, Manufacturing, Energy, agriculture, IT, Security, retail and other services.

Welcoming the delegation, the Trade and Commerce Minister, Monique Nsanzabaganwa, described the trade mission as an important step towards development and realizing the country’s goals.

She added that Rwanda has a lot to learn from Singapore, in terms of facilitating investors and effectively involving them in the country’s economic development. She advised them to make the most of Rwanda’s untapped investment opportunities in the various sectors.

The RDB Chief Operation Officer, Clare Akamanzi, reminded the delegation that Rwanda is on the fast track to development, and was in 2010 ranked as the 2nd top global reformer in Doing Business. She reminded them that one could open and register their company in less than 24hours either online or at the RDB offices.

By close of day, some members had confirmed their commitment to invest in Rwanda by registering their business.

Speaking to The New Times, the head of delegation, Hon. Rasheed Abidin Zainul, a Senior Minister of State in the Ministry of Foreign Affairs in Singapore, said

“Considering that more can be done for trade and business between Rwanda and Singapore, We are very excited to meet our counterparts in Rwanda. We are here to promote trade agreements that will facilitate exports between the two countries and we hope to forge partnerships with Rwanda companies for mutual gains as we develop as governments, and our people.”

The delegation was inspired to come to Rwanda after Minister Zainul met President Paul Kagame and was convinced that Rwandan people must be equally focused and serious about the country’s development.

The delegation will have networking sessions with some government officials to discuss the business environment, trade promotion, presentation on various sectors, one-on-one business meetings, site visits to Kigali Industrial Park and other venues.

Zainul said. “The first thing we have to look at is how to invest in our own people and we are doing this together through programmes identified by Rwanda through the Singapore Cooperation Enterprise.”

He commended Rwanda for initiating the Workforce Development Authority (WDA), which he said is a major strategy in development.

Singapore Business Federation (SBF) represents the business community in bilateral, regional and multilateral forums for the purpose of promoting trade expansion and business networking and help the Singaporean companies to expand internationally.

Having been one of the less developed countries in 1960s, Singapore is now the world’s fourth leading financial centre and a world cosmopolitan city.

Newtimes
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Old December 11th, 2010, 06:56 PM   #8
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What Rwandas main export, resources wise, that t offers to investors?
also wats its population?
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Old December 11th, 2010, 07:05 PM   #9
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What Rwandas main export, resources wise, that t offers to investors?
also wats its population?
Coffee and Tea are their export.

Population 10 million.

Investments ? I think ITC and manufacturing is what they are interested in.

Its believed to be easy to do business there because its highly organized.
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Old December 19th, 2010, 03:06 PM   #10
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n Indian company has signed a pact with the Rwanda Development Board (RDB) to invest $250 million for a knowledge hub and an integrated food park in this East African country, once associated with its fratricidal conflict that claimed nearly a million lives. India's Universal Empire
Infrastructures (UEIL) has been in discussion with the Government of Rwanda for a few months and the company delegation also visited here, the capital of Rwanda. The delegation also held detailed discussions with six cabinet ministers of the Rwandan government.

The memorandum of understanding inked now is a follow-up of the recent road shows held by RDB in New Delhi, Mumbai, Bangalore and Ahmedabad, officials said.

Clare Akamanzi, chief operating officer, and K Balachandran Nair, chairman and managing director, signed the pact on behalf of RDB and UEIL, respectively, in the presence of Munish Gupta, director of UEIL, and Rosemary Mbabazi, director for investment promotion with RDB.

The pact focusses on the establishment of a knowledge hub that entails a multi-disciplinary university that comprises all schools, especially for medicine, in collaboration with Royal Colleges of either Scotland, Ireland or England, as also those for engineering, management, commerce, education, agriculture, arts and humanities, and basic sciences.

It also calls for centres on employable skill development, IT, biotech and research, apart from a sports complex and convention centre, a medical resort with 300 rooms, wellness centre, naturopathy and water sports to spur tourism.

The second part of the pact focusses on the establishment of an integrated food processing park to develop agriculture and animal husbandry.

Rwanda, now led by its second-term, democratically-elected President Paul Kagame, wants to leave the catastrophic genocide in 1994 behind and forge pacts globally to lift the impoverished country. Around 90 percent of the population of this country is engaged mainly in subsistence agriculture and processing of some minerals.

http://www.hindustantimes.com/India-...e1-639868.aspx
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Old January 8th, 2011, 05:25 PM   #11
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Informative article

Doing business in Rwanda: Go for it, but remember the proverb of low-hanging fruit.

By LLOYD IGANE

Judging from the increasing throngs of Kenyan and Somali-speaking businessmen jamming the airports and bus termini with their excess baggage and incessant complaints, there is no doubt that Rwanda is fast becoming the East African businessman’s new Mecca, and has no shortage of eager pilgrims.

And as Meccas go, the “land of a thousand opportunities” has not only generously thrown its gates open to all friends and neighbours of goodwill, but done it in award-winning style: The country has been named the globe’s top business reformer by the World Bank Group’s Doing Business Report 2010.

The World Economic Forum’s 2010 Competitiveness Award and the Commonwealth Business Council’s African Business Award 2010, among others, have recently honoured the hilly little country in the heart of Africa.

So what, one wonders, has made Rwanda so attractive to investors and professional types?

To begin with, private investment is of such priority for President Paul Kagame, he has established a whole industry around it in the name of the Rwanda Development Board.

Headed by John Gara, a lawyer, the RDB has the mandate to bend over backwards to accelerate national growth through private sector development.

The government has also pushed through major reforms, one of which is to ensure no sectors are barred to foreign investors and no restrictions are placed by the government on the percentage of equity such investors may hold.

Indicators of the country’s favourable economic climate are myriad and include strong macroeconomic growth that encompasses an 8.8 per cent GDP growth rate, controlled inflation, increasing government tax revenues and stable exchange rates.

The stability of government with a president who might as well be called “CEO of Rwanda Inc” goes hand in hand with zero tolerance for corruption and extremely low crime levels.

But these are just indicators of the country’s investment climate. So exactly what has made Rwanda Inc so attractive to investors and professionals?

Why is it that everyone you ask tells you what a breeze it is to do business in Rwanda?

The government will tell you that the ease with which you can register a business is a major factor.

Thanks to economic and legal reforms, what used to take several procedures over several weeks has now been reduced to two procedures taking no more than 24 hours.

They will also go on and on about other reforms that have made it easier to register intellectual property, attractive incentives and simple taxation, and how easy it is to do business with the rest of East Africa from Rwanda.

Rwanda is also in the process of establishing an industrial park, a technology park and Free Trade Zone, and has started developing a robust capital markets authority beginning with the stock exchange.

While still on the topic of starting a business, they will tell you that online business registration is now operational.

This means by simply visiting the relevant RDB website, you can incorporate a company remotely from abroad without going to RDB’s offices at all.

They will also tell you about e-regulations. A web-based information portal aimed at putting all doing-business procedures online, e-regulations is currently under implementation by the RDB in association with the the United Nations’ Unctad.

It is an online step-by-step guide to all business procedures that brings total transparency to investment procedures and is also a truly one-stop concept, the only one of its kind in East Africa.

E-guidelines

Hence, for every doing-business procedure, e-regulations offers detailed step-by-step guidelines (every mandatory interaction with a civil servant is considered a step) and for each step, a step sheet that shows what one should get from the civil servant at the end of the step; complete contact details of the civil servant in charge and of the person one can complain to in case of a problem; forms and other documents one needs to submit; and finally, time, cost, and legal justifications for the step.

So far, potential investors can enjoy online access to all the steps necessary for business registration, business licensing and permits, land and property, immigration, intellectual property, and taxation.

There are many other reforms aimed at making doing business in Rwanda a breeze, many of which one never knows about until they check the RDB website.

These include reforms relating to the ease of acquiring construction permits, registration of property getting credit and winding up.

But most of all, they will tell you that, despite remarkable progress, Rwanda remains largely virgin territory with limitless unexploited opportunities in agroprocessing, ICT, infrastructure, tourism, energy, mining services, real estate and construction.

However, even as the excited Kenyan businessmen and other investors flock into RDB to register their businesses for as little as Rwf25,000 (slightly more than $40), they quickly find out that these “low-hanging fruit” have thorns around them.

“They said that Rwanda is open for business and they have made it easier,” complains a frustrated Kenyan businessman at Magerwa, the Customs warehouses in Gikondo, “but they surely make it very difficult for one to make money!”

Like all Kenyans, he is frustrated by the slow pace of life and work in Rwanda compared with go-getting Nairobi.

He is also frustrated that what he imagined would be only a five per cent import duty for imports from Kenya (under the EAC) has turned out to be a lot more and has almost depleted his margins.

He is not alone. At the single-terminal Kigali International Airport, a bunch of Kenyan ladies are yelling at an airline staffer who has told them they can’t take the flight they want for they have reported long after the gates were closed and have to wait for the next morning’s flight.

“Why,” asks one of the ladies, “do we have to pay for your incompetence?”

To his credit, the airline staffer keeps his cool and slowly goes about his business of serving the airline’s customers.

Not a muscle twitches on his face to indicate that these foreigners have just insulted him for doing his job and unfairly lumped him with all the lazy local employees of service companies whose work ethic does not even remotely include the concept of customer service.

A case in point is the experience of a regional supermarket chain when they first opened in Kigali city more than a year ago and had to fire the whole lot of local customer service people they had hired and replace them with a more carefully picked, easier to train lot.

It is not unusual to have a bank cashier staring blankly at your passport clearly not registering what is written on it; his/her mind clearly elsewhere, while you, the customer, stands there waiting for him/her to come back to the present and give you your hard-earned money.

To a visitor from fast-paced Nairobi or Kampala or, heaven forbid, New York, most service people of local extraction seem to be deliberately dragging their feet with the sole purpose of rankling the customer.

In fact, Davie, the former resident wag at the old CarWash — a gathering place for Kenyan expats — once coined the phrase, “The only person in a hurry in Rwanda is Paul Kagame.”

This, in a way, is quite true because despite the slowness of waiter service in most places, all government projects such as schools, roads, and so on are done in record time.

Not all is lost though. Pockets of exemplary service are emerging and shining brightly.

Having taken the best part of half a working day to open an ordinary local currency savings account less than two years ago — a dollar account would have taken longer — a writer we know was recently amazed to open one in a different bank, complete with SMS banking, in less than 20 minutes.

Yes, banks in Kigali are open till 8pm on working days and are flexible about weekends too.

And still the queues at most bank branches mostly overspill the chairs and extend outside.

Again, yes, every banking hall in Kigali has many chairs for customers to wait in, which means you walk into a bank with a novel and prepare to read a few chapters.

And while Rwandans don’t seem to mind enjoying this hospitality, the aforementioned foreign investor/ professional can’t help but wish this easy-to-do-business-in place could move a little faster.

The good news is that the “impatient” foreign investor/professional is bravely soldiering on as a fearless agent of change — the service standards at the few foreign supermarkets in Kigali are, for instance, exemplars for all others to look up to.

To this end, there have been several government and pseudo-government efforts to improve service standards.

RDB has been running outdoor and print ads aimed at dignifying a culture of service.

The board has also supported the production of the widely advertised and professionally produced Service Mag, spearheaded several customer service training events, and – through its human resource development arm – set up several initiatives to improve the quality of the growing local work force.

It is clear to the casual observer that the limitless low hanging fruits available in Rwanda right now are a function of the ongoing long term reconstruction efforts aimed at getting Rwanda firmly back on its economic feet after the ravages of genocide.

But the question of what happens when Rwandans are finally able to manage on their own is never far from the mind of any forward-planning businessperson — and that explains the palpable apprehension of the Kenyan businessmen and professionals even as they jam airports and bus termini with their wares and portfolios. -THE EAST AFRICAN
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Old January 9th, 2011, 04:08 AM   #12
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Its not just Rwanda, most of Africa is slow-paced and ineffecient. I was at a Chinese restauarant today- now THOSE guys are so quick and effecient. No wonder their economies are booming and people want to invest in them. If Africans take this attitude into the factory, who will want to build a factory in Africa? The Chinese were recently complaining about Ghanaian workers and they have a point.
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Old January 9th, 2011, 06:04 AM   #13
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Its not just Rwanda, most of Africa is slow-paced and ineffecient. I was at a Chinese restauarant today- now THOSE guys are so quick and effecient. No wonder their economies are booming and people want to invest in them. If Africans take this attitude into the factory, who will want to build a factory in Africa? The Chinese were recently complaining about Ghanaian workers and they have a point.
This african workers mentality must change if the continent is to be uplifted.

No respect for is the biggest one.
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Old January 25th, 2011, 12:16 PM   #14
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Rwanda and the Saudi Fund for Development yesterday signed two loan agreements worth $17 million for the rehabilitation of Butare-Kitabi-Ntendezi Road and increase electricity access in three areas in the country.

According to the agreement, the road rehabilitation project amounts to about $5million and comes to reinforce the rehabilitation of Butare-Ntendezi project whose works are expected to begin soon.

The Butare-Ntendezi road network links Kigali to the western and southern parts of the country, and serves as the main access to the eastern part of the Democratic Republic of Congo (DRC), notably Bukavu region.

Speaking at the signing ceremony, the Minister of Finance, John Rwangombwa, highlighted the importance of rehabilitating the road and said that it also connects a major agricultural area and to Nyungwe Game Park which is one the tourist attractions in the country.

"We will pay back this concessional loan in a period of 30 years with an interest rate of 1percent," said Rwangombwa.

Meanwhile the Vice Chairman and Managing Director of Saudi Fund for Development, Eng. Yousef Ibn Ibrahim Al-Bassam, hailed the cooperation between Rwanda and the Kingdom of Saudi Arabia, saying that relations between the two countries dates back to the early 80s and that Saudi Development Programmes in Rwanda are worth over US$78m.

Regarding the electricity project, it was financed to the tune of $11.7 million.

"This will greatly enhance Rwanda Energy Roll-out Programme and will contribute to efforts to connect at least 16 percent of the population (or 350,000 clients) to the national grid by 2012 from the current 6percent," said Rwangombwa, adding that this will stimulate economic growth.
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The Minister of Infrastructure, Vincent Karega, attended the ceremony and made a brief presentation on the energy sector in the country.

"We have a full programme of electricity roll-out all over the country. This means, connecting the whole country to transmission lines and in the end connecting our subscribers to the transmission lines," he said

He added that; "So far we have covered 65% of the country meaning that most of our population within 65percent of the territory are not 5km away from the grid."

"The overall rollout programme is estimated to cost $290m and 95 percent has been committed and this is five-year plan," said Minister Karega.

All Africa
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Old February 11th, 2011, 12:10 AM   #15
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Bourbon Coffee Rwanda's successful coffee brand





Starbucks is coming to South Africa, and Africa’s retort is? Bourbon Coffee. Arthur Karuletwa, who worked for Proctor & Gamble Co. in Seattle and whose wife worked for Starbucks Corp returned to Rwanda to help sort out his beleaguered homeland.

Karuletwa’s plan was to halt the exodus of Rwandan coffee beans for low profits and ultimately little revenue for local Rwandans. He intended on opening a brewing house Bourbon Coffee. There was only one problem, Rwandans were tea drinkers. That is “was” because Karuletwa managed to change all of that, and transformed his burden into a burgeoning success which now serves 800 customers daily who enjoy a cosy nook in Kigali which as a traveler on TripAdvisor put it includes “chic Rwandan art, contemporary music, free wifi and the most beautiful swirls on your latte.”

Karuletwa and his business partner Emmanuel Murekezi didn’t merely settle on converting Rwandans to coffee drinkers, they intended on taking their brand back to the states where they sought to work with Starbucks as part of their black apron programme. Unhappy with being overshadowed by the Starbucks brand the pair opened their first store in Washington, and intend on starting two more in Boston and New York by the end of 2010.

With expansion plans into Tanzania, and into Europe who knows where the brewing duo are headed – let’s just hope that their entrepreneurial spirit is rewarded handsomely!

http://moralfibre.co.za/2010/06/02/b...rwanda-boston/

Bourbon Coffee Seeks Franchise Expansion

Kigali — Bourbon Coffee, Rwanda's chain Coffee Store has launched franchise plans, saying it is set to grant, to five independent operators, the right to distribute its products, techniques, and trademarks.

Emmanuel Murekezi, Bourbon Coffee's Operations Manager said the coffee retail conglomerate is weighing up options of franchising Bourbon's trademark to other private companies in DR Congo, Tanzania, Sweden and Canada.

He also added that franchising is going to be a very profitable venture which will increase the company's market base.

Bourbon Coffee has seen significant expansion in the last four year with three corporate shops in Rwanda and one unit in the US, Washington D.C.

Murekezi said the company is planning to open two coffee shops in Boston and New York by the end of 2010.

He also revealed that the company is planning to open up more shops in Kigali city.

"The task is to fulfil the minimum requirements we are being asked by the authorities from the two states and when we have them, it will take us only three Months to design the places and then we can start working," Mulekezi explained.

The Coffee store started it operations in 2006 with first store at Union Trade Centre (UTC).

After two years another one was opened up at MTN centre and Kanombe International Airport.

http://allafrica.com/stories/201001150036.html
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Old February 23rd, 2011, 01:41 AM   #16
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Kigali: Hilton Hotels have announced plans to open a $30 million dollar 4 star hotel in Kigali after completing registration of their investment with the Rwandan Development Board, RNA reports.

The luxury hotel group plans a 160 room hotel along luxury apartments on 20 acres of land in Kigali City Park acquired by Opulent Hotel Group as part of their partnership with Hilton Hotels Corporation in Africa.

The hotel expected to be opened in 2012 comes as the third luxury hotel brand to enter the city after Belgium-based Rezidor announced last march it would manage the 300-room Kigali convention centre and Marriott’s plans for its own 237-room hotel.

Rwanda Development Board CEO John Gara said in a statement that, “Hilton’s investment is a great vote of confidence for Kigali. It shows that people are increasingly looking to Rwanda as a place to come to invest in and to do business.”

“Kigali is an increasingly attractive destination for tourists and business visitors,” he added.

Opulent Hotel Group visited Rwanda in 2010 as part of the Rwanda Investment Forum and their Director announced interest in starting a business in Rwanda. Opulent recently entered Tanzania as well, opening a hotel in Dar es Salaam and another in Zanzibar. (End)

http://rnanews.com/business/4777-hil...ith-30-million
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Old February 23rd, 2011, 07:05 AM   #17
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Originally Posted by Rayman87 View Post
Bourbon Coffee Rwanda's successful coffee brand






Starbucks is coming to South Africa, and Africa’s retort is? Bourbon Coffee. Arthur Karuletwa, who worked for Proctor & Gamble Co. in Seattle and whose wife worked for Starbucks Corp returned to Rwanda to help sort out his beleaguered homeland.

Karuletwa’s plan was to halt the exodus of Rwandan coffee beans for low profits and ultimately little revenue for local Rwandans. He intended on opening a brewing house Bourbon Coffee. There was only one problem, Rwandans were tea drinkers. That is “was” because Karuletwa managed to change all of that, and transformed his burden into a burgeoning success which now serves 800 customers daily who enjoy a cosy nook in Kigali which as a traveler on TripAdvisor put it includes “chic Rwandan art, contemporary music, free wifi and the most beautiful swirls on your latte.”

Karuletwa and his business partner Emmanuel Murekezi didn’t merely settle on converting Rwandans to coffee drinkers, they intended on taking their brand back to the states where they sought to work with Starbucks as part of their black apron programme. Unhappy with being overshadowed by the Starbucks brand the pair opened their first store in Washington, and intend on starting two more in Boston and New York by the end of 2010.

With expansion plans into Tanzania, and into Europe who knows where the brewing duo are headed – let’s just hope that their entrepreneurial spirit is rewarded handsomely!


http://allafrica.com/stories/201001150036.html

with the rate at which kenyans are investing in rwanda, very soon you will see either of the three kenyan coffee chains(savanah, java, dormans) opening doors in rwanda and try to compete with bourbon
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Old February 25th, 2011, 05:07 PM   #18
Kenguy
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with the rate at which kenyans are investing in rwanda, very soon you will see either of the three kenyan coffee chains(savanah, java, dormans) opening doors in rwanda and try to compete with bourbon
I don't see it happening soon. They still have to consolidate their market within Kenya before moving out. When they embark on regional expansion, they will opt for the larger E.A.C countries first which have a larger substantial middle class than Rwanda.
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Old February 27th, 2011, 05:34 PM   #19
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Originally Posted by nairoberry View Post
with the rate at which kenyans are investing in rwanda, very soon you will see either of the three kenyan coffee chains(savanah, java, dormans) opening doors in rwanda and try to compete with bourbon


does someone know how big are these coffee chains or are they still small as bourbon coffee ?
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Old April 25th, 2011, 02:55 PM   #20
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DN International to construct 700-unit housing estate


One of the mushrooming new estates in Kigali City. DN International has returned to the industry after months of inactivity (File Photo)


KIGALI - DN International, a local real estate developer will, this year, begin construction work on Satellite City, a project that will feature a 700-unit housing estate, school, and hospital among other properties.

Satellite City will be built in Gisozi, Gasabo District at an estimated cost of Rwf45bn ($ 75 million).

According to Nathan Loyd, the CEO of DN International, the housing estate will constitute 700 units of mixed categories, a three-star hotel, and a state-of–the-art road and communication network.

Loyd said that the project would be the firm’s third after the completion of Hill View Estate and the ongoing Green Park Villas, both in Gasabo District.

“Today is our new dawn. We are informing the citizenry that we have re-opened our projects,” he said while re-launching the company’s Rusororo project.

Loyd said that the company closed the Rusororo project, mid last year, after issues with the mortgage law and crisis within the banking sector, that affected most of the real estate developers.

“The mortgage law handicapped us last year and led us into a loss of Rwf 1bn ($ 1.67 million), since as developers, we could not construct houses. This meant we were not in business but now that it (mortgage law) has been revised, we believe we are going to recover,” Loyd said.
“It will take us 6-8 months to fully recover but we have to start today.”

He noted that the current demand for houses in Rwanda was 10,000 units a year among all categories. However, the absence of the mortgage law last year saw a sharp shortfall of 9,700 houses with only 300 units built.

Loyd added that the current demand for units has shifted from high income earners to the middle class, who demand for apartments.

Last edited by Rayman87; April 25th, 2011 at 03:02 PM.
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