President Paul Kagame Inaugurates Radiant insurance’s new building in Kigali

By Esther Muhozi
On 25 May 2024 at 07:33

President Paul Kagame recently inaugurated the new Radiant Building in Kigali, which is owned by Radiant Insurance Company, a provider of various insurance services.

During the ceremony, President Kagame, accompanied by Marc Rugenera, CEO of Radiant Insurance Company Ltd., expressed his satisfaction with the progress of private sector projects. He highlighted, "This is what we desire throughout our country, both in the City of Kigali and in the provinces. We want to see investment flourish and economic activities go well."

President Paul Kagame inaugurates Radiant insurance's new building in Kigali

He emphasized the government’s role in supporting the private sector, asserting, "It is the duty of various government sectors to assist where possible in ways that are legal and policy-driven to promote people and various activities, including those involving investment."

President Kagame also pointed out ongoing challenges in the insurance sector and urged relevant authorities to address these issues.

He encouraged other investors to follow suit to enhance their business investments and warned against the repercussions of substandard operations, which can lead to considerable losses.

The Radiant Building, valued at 22 billion Rwandan Francs and standing 35 meters tall with 13 floors, was built over five years. Remarkably, 80% of the construction materials were sourced locally, and the entire building process, from design to painting, was carried out by Rwandans.

Marc Rugenera thanked the President for providing the land where the building now stands, stating, “It is you who gave us this plot on which this building stands.” He acknowledged the President’s role in supporting Rwanda’s development, remarking, "I greatly appreciate your joining us to celebrate this milestone that Radiant Society has achieved."

Marc Rugenera appreciating his Excellency Paul Kagame for the Piece of Land

Apian Ndoli, a construction expert, noted the building’s use of 80% locally made materials and its environmentally friendly construction. He proudly said, "This building was designed, constructed, and supervised by Rwandans. We are proud that young architects were trusted with constructing such significant buildings, and we are proud to have contributed to a project that will benefit Rwanda’s economic development."

Radiant Insurance Company has seen significant growth, increasing its capital from 1 billion to 6.5 billion Rwandan Francs. Last year, the company generated 17.5 billion Rwandan Francs in revenue, paid out 11 billion Rwandan Francs, and reported assets totaling 10 billion Rwandan Francs. It offers a wide range of insurance services including travel, health, fire, motor vehicle, agricultural and livestock, building and machinery, surety, and more.

Radiant Insurance New Building
Many Different Individuals had attended the event