The Promota Magazine
Kigali, a rising star in Africa
Rwanda, who has set its sights on becoming the gateway to East Africa for international business remains a largely virgin territory for investors. Politically stable, the country boasts the highest growth among East African countries with GDP increasing a 8, 8% a year.
The Rwanda Development Board came to Mipim to promote its messages to investors around the world : it is envisaged that Kigali’s Central Business District comprises of Muhima, Nyarugenge and Kimicanga be redeveloped as the regional financial, business and entertainment centres of both Rwanda and East Central Africa.
Paul Kagamé, President of the Republic of Rwanda says: “In Africa today, we recognize that trade and investment, not aid, are pillars of development.” Rwanda Development Board’s Claire Akamanzi adds: “Rwanda is one of the easiest places to do business in Africa and the second most improved business environment in the world over the last five years.”
The new Kigali’s Central Business District will feature 20 to 30-storey towers with mixed-use, offices, hotels and residences along an attractive green corridor in about 40-50 ha development, aiming at becoming Kigali’s premier financial hub. The Centreville Roundabout is proposed to be developed as Kigali’s key shopping precinct. Existing venues such as the Union Trade Center (with approximately 50 shops), adjacent outdoor restaurants are surrounded by an animated traditional commercial district. They are set within the surroundings of a fashionable residences and hotels embedded in leafy parks that will welcome the Hotel Des Milles Collines. Kimica will host the New Entertainment District, of about 20 hectares located close to the verdant wetland area at the entry point of the CBD. This district will feature a grand world-class performing Arts Centre and entertainment complex. It will be surrounded by relaxing outdoor spaces dotted with cafés, restaurants, art galleries, an amphitheater, contemporary art displays, pubs and boutiques.
The existing Nyarugenge Market, an exciting multicultural wholesale and retail market will be protected and enhanced: key buildings and existing charm will be preserved while allowing for redevelopment into an attractive high-activity shopping district. The seven hectares site will be transformed in a pedestrian area with “al fresco” dining areas, handicraft centers, souvenir shops and cafés.