The New Times (Kigali)

Rwanda: Landmark Kigali Heights Complex to Boost Economy

The construction of $34-million (about Rwf23 billion) master piece complex has been launched with expectation to help change the face of the City of Kigali and boost the economy.

L-R; Dr Goodwin, Prof. Lwakabamba, Ndayisaba and Karera lay a foundation wall at the ground-breaking ceremony of the complex yesterday.

The complex will seat on 11,000 square meter piece of land at the former post office in Kacyiru.

The dual structure complex - nine-storey and seven-storey buildings - being developed by Kigali Heights, with the financial backing of Fusion Capital, a Kenyan firm, will act as a dual tower office and retail block when completed in the next 24 months, according to Denis Karera, the managing director of Kigali Heights.

During the ground-breaking ceremony in Gasabo District, Kigali, yesterday, Prof. Silas Lwakabamba, the minister for infrastructure, said the project highlights the robust opportunities and synergies between the public and private sector which are in line with the City plan and the overall country's vision.

Changing landscape:

Prof. Lwakabamba said the project will go a long way in enhancing city landscape, creating employment, providing avenues for the transfer of skills and boosting the economy through tax generation as well as feeding into the growth of other sectors.

"From the government perspective, we remain committed to supporting such private sector initiatives in all areas of the economy, after all, it's the private sector that is the number one driver of our economy," he said.

The minister challenged the business community to think and devise ways of positioning themselves and forging partnerships with the public sector in driving the country toward attaining middle income status by 2020.

Dr Phil Goodwin, the chairperson of Fusion Group, hailed the investment climate government has put in place and pledged more investments that will spur Rwanda's economic growth.

"We are investing in this country because of its economic stability, the confidence we have in it and the prevailing security. There is no doubt that Rwanda is one of the places where great things are happing on the continent."

Luke Kinoti, CEO, Fusion Capital, said the company is looking forward to providing long-term financial solutions that support the sustainable growth of the Rwandan economy.

He called upon local investors to find ways of partnering with other investors and pool resources so as to turn the country's vision into a reality.

The City of Kigali mayor, Fidèle Ndayisaba, said the dual structure complex tops the list of the well-designed business complexes in the city.

"We are pledging our support to all those investors, including Kigali Heights, who are coming to change the face of the city," Ndayisaba said.

The project has attracted some of the best engineers from across the globe, including China, Zimbabwe, Kenya and Uganda.

Century Real Estate will be tasked with letting out space once the complex is ready, Charles Haba, the managing director of the estate, said.

Established in 2006, Fusion Capital currently operates in Tanzania, Uganda, the UK, Kenya and Rwanda, and is also planning to launch operations in Burundi.

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