Kagame Flags Off Ambitious Kigali Financial Towers

Equity Holding Venture Capital has laid a foundation stone to kick off construction of an ambitious Kigali Financial Towers aimed at advancing Rwanda’s dream of becoming a trusted hub for financial services.

Construction will take an estimated three years to complete. The project design was done early in 2021.

This futuristic Kigali Financial Towers site located in the Central Business district of Kigali will be composed of a hotel to accommodate people working at the centre.

On Wednesday at the sidelines of the Commonwealth Business Forum, President Paul Kagame unveiled a threshold stone alongside Dr. James Mwangi, Group CEO of Equity Group Holdings & Mark Allchin, MD of Equity Holding Venture Capital Rwanda.

“Regional financial hubs are critical to attracting new investment and getting us back on track,” President Kagame said at groundbreaking of Kigali Financial Square.

The Rwandan leader noted, “this project is also about the future of our people, our most valuable asset. That is our people. Over the years, we have created meaningful partnerships, which have contributed to our development.”

Equity Bank Group will fund the construction with a budget worth U$100milion.

“Rwanda has an ambition of becoming a financial hub and Equity’s transformational flagship projects are aligned to this agenda. Equity and all those investing in our country have our full support. I assure all investors that every dollar you invest in Rwanda will pay back,” President Kagame said.

Rwanda has previously signed a partnership with other financial centers in the world aimed at making KIFC attractive to multinational firms.

The legal framework has been overhauled as several laws were revised to build a conducive environment for wealth management firms, insurance companies, and big banks seeking to set up shop at the financial center.

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