La société française Groupe Duval s’apprête à construire un bâtiment commercial à Kigali.

Cette semaine, le bureau du président rwandais a annoncé la rencontre de Paul Kagame avec le PDG du Groupe Duval, Eric Duval, et son équipe, pour discuter des projets que la société envisage de lancer au Rwanda.

Le Groupe Duval est une société française fondée en 1996 par Eric Duval et dirigée par Pauline Duval. Elle compte plus de 4 000 employés et au cours des 25 dernières années, Elle a gagné 700 millions de dollars grâce à l’investissement dans les  projets de construction.

Au Rwanda, ses activités sont gérées par Duval Great Lakes Ltd dirigée par Vicky Murabukirwa, Ingénieur de formation.

Le Groupe Duval a investi dans des projets de bâtiments et travaux publics, d’hôtellerie et d’agro alimentaire parmi d’autres.

Parmi les projets de Duval Great Lakes Ltd pour le Rwanda, citons l’un des plus uniques : celui de la construction du Inzovu Mall à Kimihurura à côté du Kigali Convention Center et qui abritera des magasins de renom tels que Zara, Levi’s, Lacoste ou H&M entre autre.

Le bâtiment commercial moderne sera construit de manière à respecter les normes écologiques. Le bâtiment accueillera également la société hôtelière française Odalys City Business Apart Hotel.

Nommé «INZOVU», le bâtiment présente une variété d’activités commerciales, de jeux, de divertissements, de restaurants parmi d’autres services.

On s’attend également à ce qu’il participe a l’attraction de touristes visitant le Rwanda.

L’année 2021 verra le commencement du projet et le début travaux de construction.

La société sera également chargée de la gestion du nouveau parcours de golf qui se situe dans un quartier chic de Nyarutarama  et cette gestion se fera via UGolf Great Lakes Ltd, une filiale d’UGolf actuellement contrôlée par le Groupe Duval.


French Company “Groupe Duval” sets to construct an Environmental Friendly Commercial building Near Kigali Convention Centre

On Tuesday, the Office of the Rwandan President announced that President Kagame had received the CEO of Group Duval, Eric Duval, and his team, to discuss the projects the company plans to launch in Rwanda soon.

Groupe Duval is a French-based company, founded in 1996 by Eric Duval but managed by Pauline Duval. It has more than 4,000 employees and over the past 25 years, it has raised more than $ 700 million from construction investment.

In Rwanda its activities will be managed by a company called Duval Great Lakes Ltd headed by Vicky Murabukirwa.

Groupe Duval has invested in construction projects, hospitality, food processing and more.

Among the projects Duval Great Lakes Ltd plans for Rwanda include one of the most unique to construct a commercial building in Kimihurura next to the Kigali Convention Center, TOP Africa news has learnt from IGIHE.COM.

The modern commercial building will be constructed in a way that is environmentally friendly. It will also include the French Hotel Company, Odalys City Business Apart Hotel.

Named “INZOVU”, the building will feature a variety of business activities, games, entertainment, restaurants and more.

It is also expected to be a bridge to increase the number of tourists visiting Rwanda.

This year is expected to be the start of the project, where construction work will be fast-tracked.

The company is also set to take over the management of the new Golf Course through UGolf Great Lakes Ltd, a subsidiary of UGolf which is currently controlled by Groupe Duval.

Read the original story here:


Rwanda says ready to triple its international trade in 10 years as AfCFTA Starts

Minister of Trade and Industry of Rwanda Ms. Soraya Hakuziyaremye

By Ange de la Victoire DUSABEMUNGU

Minister of Trade and Industry of Rwanda Ms. Soraya Hakuziyaremye has said Rwanda is ready to export goods to the wider African market adding that no one should worry that some of the countries with the largest economies on the continent will give less value to the market.

Minister Hakuziyaremye made the remarks while answering questions from reporters at the AfCFTA Start of Trading Virtual Launch event which was organised by the Rwanda’s Ministry of Trade on Friday, 15th January 2021.

The African Continental Free Trade Area (AfCFTA) is a free trade area founded in 2018, with trade commencing as of 1 January 2021.

 It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations

Minister Hakuziyaremye said Rwanda is ready to compete on this market

Rwanda’s economic policy is open to foreign trade which accounts for 51.5% of the GDP (World Bank, 2018). … In 2018, merchandise imports from Rwanda reached USD 2.58 billion, while exports amounted to USD 1.1 billion. The country exported services worth USD 798 million and imported USD 931 million (WTO, 2018).

Regarding the exemption of taxes on traders who will be importing goods, Hakuziyaremye explained that “80% of the goods made in Africa will be the first to be exempted from taxes.”

“In our country, it is a process that will take 10 years to get rid of 10% of the tax to 0% of the tax,” she said.

She added that in Rwanda, agriculture, agribusiness and clothing products are some of the commodities that the country is ready to take to the market.

She encouraged ordinary people as well as the Private Sector to take part in taking the benefits from this big market.

“We, as Rwandans, find that in the next 10 years, we will have tripled our trade with foreign countries,” she said.

She reassured those concerned about major economies such as South Africa and Nigeria that they would belittle the market saying that there should be no worries because in general all countries are willing to join this market.

“It’s not an easy journey because even during the negotiations there have been shown that there is a lot to be done to set up this trade area “She explains

“but again, these great economies have their own business needs in this market,” Minister Hakuziyaremye added.

Regarding the free movement of people, Minister Hakuziyaremye said that this would also be facilitated as people would be able to trade and travel more easily under the AfCFTA agreement.

The fact that Rwanda has entered the wider market, it means that joining the market is not meant for Government as an institution rather a trade member with the people who might start thinking broadly, especially those who do business even at the local level.

Victor Nkindi, one of the Rwandans who have gained experience in International business through Hooza Media Company, says that this is a time for Rwandans to think broadly.

“Now, boarders are opening to allow more shipment at lower cost” He said.

“By start with regional integration, Tanzania, DRC or Kenya are great countries to start business with” Mr. Victor Nkindi commented

“Let us be bold and look after opportunities the continent is offering” He advised.

read the original story here:


2G, 3G, 4G Networks continue to play an important role in the safety of Rwandans during COVID 19 pandemic Time

2G, 3G, 4G Networks continue to play an important role in the rise of Rwanda’s Economic growth while during the COVID 19 pandemic time, the use of above-mentioned networks has undoubtedly contributed to the reduction of the spread of the Coronavirus epidemic, TOP AFRICA NEWS reports

Rwandan President Paul Kagame on Monday, 21 December 2020 during a State of the Nation address announced that 4G Network has now reached 127 locations across the country.

With the modern 4G Network, it is considered to be a technology that signals a shift from voice- to the data-based transmission with high-speed in time for the onset of smartphone era and the next step forward in Rwanda.

In November 2019, Korea Telecom Rwanda Networks (KTRN) commenced the process of a network upgrade and optimization that included software and hardware upgrade along with coverage expansion in order to meet Quality of Service (QoS) demands from its customers and fill the coverage gaps experienced.

In a bid to deliver on its promise for a reliable and quality nationwide 4G network, KTRN invested more than USD 10 million in this network and system upgrade exercise and this has yielded instant good results in improving user experience on the 4G network.

“As a result of 4 G network and system upgrade, currently, KTRN possesses a more reliable network infrastructure that matches the rate of growth, meets 4G Internet demands, and increases performance to 4G full speed.” According to information retrieved from KTRN website.

With the recent upgrade and coverage expansion countrywide, KTRN is still the first telecom company in Rwanda to provide the largest network coverage with more than 98% of the population coverage.

KTRN’s wide population coverage offers a huge opportunity to private companies, public institutions, and NGOs to expand their reach in the entire country, on a reliable and fast network.

The upgrade coincided with the novel COVID-19 global epidemic that saw the world shut down, but as the world was shutting down, the internet became an even more necessary essential needed at home as work and schools relocated to homes.

However, Rwandans find that there are still a lot to be done to get connected to the fastest Internet Networks as the modern communications speed increases.

This is in addition to the high cost of Internet such as 4 G based on the capacity of those who want a fast-growing network among them are predominantly young people who are very fond of knowing what is happening around the world.

President Paul Kagame presented the State of the Nation on 21st December 2020

Although President Kagame did not comment much on the 4G Network during the State of the Nation address on Monday, 21 December 2020 in Kigali, he pointed out that telecommunications technology had supported Rwanda during the COVID 19 time and this is confirmed by the way he successfully conducted an interactive session with citizens in different rural and urban areas across the country.

President Kagame said “Due to the COVID-19 situation and the need to keep people safe, I was unfortunately unable to meet physically with many of you at the annual National Umushyikirano Council and the RPF Congress this year.”

However, President Kagame added “Thanks to technology, we were able to have a virtual interaction this afternoon with citizens across the country and the press. It was an opportunity to highlight important issues to thank all Rwandans for your dedication and resilience in tackling domestic and global challenges”

ICT experts believe that the development of Internet communications in Rwanda, despite the high cost for some, has made a significant contribution to the safety of the citizens during the pandemic time.

It is clear that if the deployment of Networks such as 4G is successfully and wisely used, much benefits are set to arise.

For instance, Jacques Kabandana, Country Manager at Ericsson Rwanda which is heavily involved in deploying other technologies such as 2G and 3G with its partners namely MTN Rwanda and Airtel Rwanda, finds that in this hardship times of Covid19 pandemic, it is imperative to make use of the technologies available in Rwanda whether it is 2G, 3G or 4G.

“By doing so, it will certainly help bridge the digital divide that we are all seeing. That would mean, more and more Rwandans will have access to Internet as a basic need but the latter are just infrastructure such as roads, electricity, etc…. I would call it the first step.” He explains

“The second step will now be to stem use cases that will actually make an impact to our lives. He we think about 4G use case in agriculture sector where the technology will help you determine the amount of water needed for farming, etc… in the health sector whereby you can do an e-consultation, etc…” Kabandana noted

“The use cases are even beyond our imagination.” He added.

Read the original story here:


Rwanda encourages more U.S, EU Investments as Private sector strives to recover from COVID 19 impacts

The European Union and the US Embassy in Rwanda have pledged to sustain cooperation with the Government of Rwanda in continuing to promote investment while the country continues to deal with the impact of COVID 19 on economic growth as well as the investment and trade sectors.

The talks on cooperation between the two partners and the Government of Rwanda were held at the European Business Chamber (EBCR) and American Chamber in Rwanda (AmCham) Webinar with the Chief Executive Officer of  Rwanda Development Board Clare Akamanzi who highlighted how the Government of Rwanda managed the complicated times of COVID 19 and how the recovery programs will need joint effort as the country’s economic growth has hardly hit by the pandemic despite positive hopes in the recovery.

The webinar was attended by Board members for the EU and the American Chambers of Commerce, the EU Ambassador to Rwanda, the US Ambassador to the Rwanda as well as Claire Akamanzi, the CEO of the RDB and ‘others.

In the course of the webinar, the EU Ambassador Nicola Bellomo commends the Government of Rwanda’s efforts to combat COVID 19 and the Establishment of the Economic Recovery Fund, which was created to address the impact of the epidemic on the economy and especially on the Private sector.

Ambassador Bellomo also commends the government and the people of Rwanda for the effective and timely response to COVID 19 adding that “We as European Union, we are strongly supporting thanks to what we call the team Europe approach the government of Rwanda in the response to this crisis.”

He added that “On the social economic response, we also particularly welcome the establishment of the economic recovery fund” while at the same time both partners might also identify through the crises some unseen opportunities with a shared interest in supporting the government of Rwanda in laying the foundation for a stronger and more resilient economic development model.

On the U.S support, Ambassador Peter Vrooman said that since the beginning of COVID, the United States has been helping Rwanda cope with the epidemic through a variety of recovery support, including in health, the private sector and also contribution to the Recovery Fund.

Claire Akamanzi comment on the existing measures to promote investment in Rwanda in the face of the global economic crisis, says that the Rwandan government has revised its investment code including facilitating investors through various incentives and this gives hope that the Rwanda’s economy will return to normal.

Madam Akamanzi explains that the new investment code is going to be very catalytic in attracting more investments in Rwanda and the reason for that is that “we’ve created an investment code that is very pragmatic and also very much aligned with our performance.”

She says “We have new sectors that we are giving incentives like financial services because of the international financial Centre that we’re putting in place.”

Recently, the cabinet meeting led by President Paul Kagame has approved the composition of IFC (International financial Corporation) which is tasked to provide a wide range of investment and advisory services that help businesses and entrepreneurs meet the challenges they face in the marketplace.

Claire Akamanzi added that this is part of supporting innovation by coming up with seed capital fund in the investments sector.

“We are also incentivizing industrial park development because it has been a very good source of manufacturing I think if you read the investment code at the draft investment code you see exactly where what to expect to be in terms of economic priorities, because those have been very specifically located incentives.” She noted

“I am also really excited that we’re increasingly seeing companies coming to set up their headquarters in Rwanda, or their regional offices and we’ve catered for their needs.” Akamanzi told the Webinar

She commends philanthropic organizations that are looking at Africa and looking for regional offices in Africa.

Clare Akamanzi also expressed gratitudes to all the chambers (EU and American) and assuring them that RDB is ready to continue to help all investors through various departments including one that has access to information on Investment in Rwanda.

She says that the US and the European region geographies remained very important sources for investment in Rwanda.

“So, we’re very happy to see that this platform is an added platform for engagement, but on the recovery fund, obviously, first of all, and the whole recovery of our economy.” She noted

“This year is going to be something that we are learning about as we go on and many of you have followed the economy performance over the last year’s 2019 for me was probably the best year you know in our achievements, the economy grew at 9.4% one of the highest in a while our investments reached a record $2.4 billion of investment deals that we registered in Rwanda development Board.

“We had the biggest growth of tourism at $ 490 million dollars in 2019 and so 2020 for us we started very excited thinking it’s going to be a sustained high performance on the economy on tourism and investment and then of course COVID 19 happened and the picture is not as we had expected in January of this year, we expect the economy to contract by point 2% that’s the latest projection from IMF” Akamanzi explains.

The contractions on the economy will happen because of the tough decisions that the government had to take in order to contain COVID 19 which was important.

“And so, we’ve seen that the tough decisions that slowed down the economy helped manage better COVID 19 and we’re very encouraged when we see how Rwanda is being viewed by the rest of the world in terms of the pandemic control.

COVID 19 has had a detrimental effect on the country’s economy where it has slowed down the existing economy and hit most the private sector and tourism while they are the cornerstone of Rwanda’s economy.

Such discussions are hopefully to play a role in reminding investors that Rwanda is still the best place to bring investment as a fresh and growing market destination.

Read the original story here:

Follow our hashtag #HoozaLive for live updates