Home GENERAL NEWS It was a year of big deals in key sectors for Rwanda

It was a year of big deals in key sectors for Rwanda

by biasharadigest
BEN MUNEZA

By BEN MUNEZA
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Several deals made in 2019 are expected to boost Rwanda’s economy. They include:

$400 million Gasmeth Energy deal: In February, Rwanda and Gasmeth Energy signed a deal estimated at $400 million to extract and process methane gas from Lake Kivu. Under the deal, Gasmeth Energy will finance, construct and maintain a gas extraction, processing and compression plant. Compressed gas will be sold on local and international markets. The project is expected to create 600-800 jobs during construction and 400 after.

Ellen DeGeneres Campus: The Ellen DeGeneres Campus of the Dian Fossey Gorilla Fund, whose ground-breaking took place in February, will be located in Kinigi, Musanze District. The campus, whose construction is expected to be complete in two years, will boost gorilla conservation. In 2017, Volcanoes National Park got more than 35,000 visitors who directly generated $16.75 million.

Qatar Airways stake in Bugesera Airport: In December, Rwanda and Qatar Airways entered a partnership where the carrier will own a 60 per cent controlling stake in the $1.3 billion international airport in Bugesera. The construction of the airport will be in two phases; the first one is expected to provide facilities for seven million passengers a year, and the second to be complete by 2032, will double capacity to 14 million passengers a year.

The government has spent billions to brand the country as a key tourist destination; finance the growth of RwandAir; upgrade the existing Kigali International Airport and offer incentives for investments in the tourism sector.

Paris St. Germain deal: Rwanda’s tourism promotion drive has seen the country sponsoring football clubs like Arsenal and now French club Paris St. Germain (PSG). Starting in December, the three-year sponsorship deal seeks to promote the country’s tourism through branding on the women’s team and stadium. The deal is worth between $9 million and $11 million, compared with the “Visit Rwanda” sleeve sponsorship deal with Arsenal Football Club at $39 million.

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