Rwanda: PSF Signs Trade Deal With Namibia Firm

7 November 2019

Rwanda's Private Sector Federation (PSF) and a Namibian company, Habesha African Investments, have signed a Memorandum of Understanding to strengthen trade ties between both countries.

The signing took place on Wednesday in Kigali.

The agreement seeks to facilitate collaboration between both countries in matters of common interest.

It also aims at establishing the working arrangements necessary for the implementation of the agreement.

The trade partnership will focus on sectors that engage in technical facilities, education, food processing, construction, technology gadgets, tourism and hospitality, officials said.

The CEO of Habesha African Investments, Parstus Nepolo, during the signing, said that the company realized that there were some products on the Rwandan market such as air conditioners and dry meat that are produced in Namibia.

"We can fill the market gap on what we could produce in Namibia and there is hope that with this MoU, we will do more," he said.

Habesha Africa will send Namibian entrepreneurs and investors to explore investment and trading opportunities in Rwanda as it looks to enhance intra-Africa trade.

The company, with operations in Kigali and Windhoek, already has 11 Namibian entrepreneurs to engage their Rwandan counterparts for business and investment opportunities.

The CEO also disclosed that they will establish vocational training centres on both sides to train young people and share knowledge.

PSF welcomes the agreements, calling for RwandaAir intervention link the two nations through passenger and cargo transportation.

Habesha Investment's CEO told the media after the signing of the agreement that Rwanda is a good place to do business and a good spot to access neighbouring markets.

"We can easily access DRC, Uganda, or Tanzania's markets from here. We are committed to encouraging free movement of people and goods among African countries," he said.

The agreements come after President Kagame and the First Lady travelled to Namibia in August.

The visit saw the signing of a General Cooperation Agreement, effectively opening doors for further cooperation between the two nations in different areas.

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