Connect with us

Real Estate

BRD finances Nyabugogo Coop. to complete Rwf 5.5 bn. complex



Traders in Kigali’s busiest suburb, Nyabugogo are set to benefit from the completion of a Rwf 5.5 billion complex that will house over 2,000 shops, giving many Rwandans a source of employment and accelerating economic growth.

This was announced by the chief executive officer of the Development Bank of Rwanda (BRD), Alex Kanyankole during a tour of the building yesterday.

Kanyankole said the building will provide adequate space, in line with the City of Kigali’s Master Plan, for members of the Inkundamahoro Cooperative, putting up the building and other business people to trade their different merchandise ranging from hardware, pharmaceutical products to food items.

“The complex is currently under completion and we expect to be opened in June or July this year for the traders to move in,” he told journalists after the visit.

He added that the building will also have apartments to accommodate traders coming from outside Kigali.

The financing of the building is part of the BRD’s over Rwf 130 billion credit schemes issued to small and medium enterprises, affordable housing, agriculture, energy and education.

Kanyankole said they target their loan book to grow to over Rwf 350 billion in all economic sectors.

He commended traders who came together to work under cooperatives such as Inkundamahoro to seek financing from the bank, noting that they are able to position themselves well for faster growth under the groups, creating more jobs for the unemployed and giving assurance that they will pay back the loans.

Sylvere Karera, the Chairman of the Inkundamahoro Cooperative said they were optimistic that the building will be fully rented ensuring that they pay back the bank.

“Our business plan was sound when we took our loan application to BRD. We believe it will be profitable given the nature of the stalls that will allow traders to rent for their businesses,” he explained.

The building is expected to be completed in July 2016 and trade activities will immediately commence. Overall, BRD has financed construction of new commercial complex buildings cooperative premises



BRD has financed similar structures in Gakinjiro and Gahanga in Gasabo and Kicukiro districts respectively.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Amethyst Streams
App3 weeks ago

5 Reasons Why Amethyst Streams is the Ultimate Destination for Relaxation and Healing

Casting Room Backstage
Entertainment3 weeks ago

5 Essential Elements for a Successful Casting Room Backstage

Ibomma UK
Entertainment3 weeks ago

5 Must-Watch Movies on Ibomma UK for Telugu Movie Lovers

Health & Fitness3 weeks ago

10 Surprising Health Benefits of Piperine You Didn’t Know About

Phone Number
Tech3 weeks ago

5 Reasons Why You Should Save This Phone Number Now

Travel3 weeks ago

Uncovering the Mysteries of Beliktal: 10 Hidden Gems to Explore

James Joyce
Life Style4 weeks ago

5 Fascinating Facts About James Joyce and His Literary Style “Joyciano”

Life Style4 weeks ago

The Top 10 Literotica Tags to Spice Up Your Reading List

Emergency Hotline
App4 weeks ago

10 Tips to Remember When Calling the Emergency Hotline (02045996818)

Red and White Magazine
Life Style4 weeks ago

The Ultimate Guide to Red and White Magazine: Everything You Need to Know

Entertainment4 weeks ago

Exploring the World of Manga: A Guide to Mangatoto

App4 weeks ago

HQFlix: Your Gateway to Premium Streaming Content

Home and Garden4 weeks ago

Chaleturi: The Ultimate Mountain Retreat Experience

Live Sports
App1 month ago

Discover the Benefits of Watching Live Sports with Streameast

Martie Allen
Celebrity1 month ago

The Untold Story of Martie Allen: From Personal Life to Career Success

Entertainment1 month ago

The Shocking Truth Revealed in Chapter 36: I’m Being Raised by Villains

Unsuccessful Draft Pick
Sports1 month ago

The Highs and Lows of Sports: Reflecting on an Unsuccessful Draft Pick

Pata Seca
Food1 month ago

Discover the Delicious Tradition of Pata Seca: A Guide to This Mexican Delicacy

TOTK Techniques
Gaming1 month ago

Level Up Your Gaming Skills with TOTK Techniques for PC Players

Travel1 month ago

Shipn Utsunomiya: Unraveling the Hidden Gems of this Charming City