France to invest Frw 36Bn as Kagame’s visit winds up

By Joram Muhoozi
On 14 September 2011 at 02:18

After the end of President Paul Kagame’s two day official visit to France, the Head of State met with the France Business community under Mouvement des Entreprises de France (MEDEF)-the organization of business associates in France and challenged them to invest their businesses in Rwanda. The foreign investment is intended to strengthen bilateral ties between the two countries as were also emphasized during the roundtable talks by the three Rwandan Ministers Louise Mushikiwabo, Foreign (...)

After the end of President Paul Kagame’s two day official visit to France, the Head of State met with the France Business community under Mouvement des Entreprises de France (MEDEF)-the organization of business associates in France and challenged them to invest their businesses in Rwanda.

The foreign investment is intended to strengthen bilateral ties between the two countries as were also emphasized during the roundtable talks by the three Rwandan Ministers Louise Mushikiwabo, Foreign Affairs Minister, François Kanimba of MINICOM, and Tharcisse Karugarama, the Minister of Justice along with John Gara of RDB in a press briefing.

Gara said that the French business in Rwanda is still low and that they count not more than U.S$3.5. He added that after the Presidential visit, a lot will be transformed and new investments from France are to crown Rwanda’s fastest growing business environment.

The communications Office from the France’s Presidents’ office had during the trip issued a communiqué anticipating investing almost 42 million Euros (est. Frw36b) in Rwanda soon.

Minister Kanimba said the talks are underway to find selected sectors in Rwanda for the France business community to invest in. The minister said that they will invest in tourism sector, Methane gas, facilitate the construction of the new International Airport, construction of the railway transport that will connect Rwanda to the Indian Ocean, and the gold mining construction among others.

For the new International Airport construction and other infrastructures, the government of Rwanda put the system of allowing the private investors to contribute which will earn them a lot of profits.

Kanimba also recommended the exportation of tea, gold, coffee, flowers to France.

According to a press statement from the office of the Government Spokesperson released prior to the trip, the visit followed the French President Nicholas Sarkozy’s visit to Rwanda in February 2010 that marked a major step forward in diplomatic relations with France, that were renewed at the end of 2009, and it was the Kagame’s first official visit to France since the 1994 genocide against the Tutsis, where Rwanda has accused France of complicity in massacres, an accusation which Paris always and continuously denies.


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