Rujugiro’s UTC goes for Rwf 6.8 billion

By IGIHE
On 26 September 2017 at 08:20

One of the first buildings to be erected in Kigali in a liberated Rwanda, Union Trade Center (UTC) belonging to Rujugiro Ayabatwa Tribert was yesterday auctioned at Rwf 6.8 billion by Kigali Investment Company (KIC).

Court bailiff Ms Nsabimana Vedatse conducted the auction.

Eleven individuals and companies had tendered in their interest to prequalify in bidding for the mall, but two companies and one individual namely; Kigali Investment Company, Four Unit Company and Pascal Kanyandekwe reached the competitive bidding.

Tribert Rujugiro Ayabatwa had 97% shares in the mall with others taking the remaining 3%.

The auctioning of UTC comes at time when the property owed tax arrears amounting to Rwf 1.2 billion, to Rwanda Revenue Authority (RRA) accumulated between tax 2007 and 2013 when Nyarugenge district took over as its caretaker and managers.


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