Rwanda: Inside French Firm Duval's Business Interests in Rwanda

27 January 2021

President Paul Kagame on January 26, received a delegation from renowned French firm, Groupe Duval, led by the founder Eric Duval.

Groupe Duval is a French firm that has been in existence for about 25 years with stakes in real estate development, hospitality sector, food production and investment funds among others.

In Rwanda, the international firm has a local subsidiary, Duval Great Lakes Ltd which they own in partnership with a local businessman Vicky Murabukirwa.

Murabukirwa is the Managing Director of Duval Great Lakes Ltd.

The local subsidiary is undertaking a number of projects including a multi-billion mall at the former Ministry of Justice location, adjacent to the Kigali Convention Centre dubbed Inzovu.

The mixed-use complex according to the developers will have aspects of green technology.

Already the project has confirmation from tenants such as French brand Odalys City Business Apart Hotel, a global renowned hypermarket brand among others.

The mall will feature a range of facilities including indoor gaming facilities, gaming arcades, a wide range of retailers, restaurants among others.

The mall is expected to complement the tourism experience for guests in the country.

The project is expected to break ground in coming months.

The firm has a subsidiary in golf club management, UGolf which manages over 50 golf courses on behalf of public or private owners.

UGolf has created a local subsidiary in partnership with Murabukirwa to create UGolf Great Lakes Ltd which will manage the new Kigali Golf Club.

The new golf course is an 18 hole-course built on international standards.

Murabukirwa told The New Times that the Duval Great Lakes Ltd will also soon launch other real estate projects as well as the finance sector.

The group's interest in the country's finance sector comes at a time when Rwanda is in the process of rolling out the Kigali International Finance Centre which is aimed at positioning Rwanda as a regional financial hub.

He said that commitment for investment at a time of global uncertainty is proof of the French Group's confidence in the Rwandan market and ecosystem.

Among the impact he said they intend to have on the local market include job creation, skills transfer as well as showcase further opportunities for investment in the country.

Groupe Duval has a staff of 4,500 people and recorded a total turnover of €700 million in 2018.

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