Nyaruguru cross-border trade complex
Nyaruguru district to get a cross-border trade complex
The Minister of Trade and Industry (MINICOM) in Rwanda Mr. Kanimba François, laid a foundation stone on Friday (9th May 2014) for construction work of a cross-border trade complex at Akanyaru River border post. The new complex is expected to arrest informal trade among Rwanda and Burundi border communities. It should be noted that informal trade is common in this area between Rwanda and Burindi communities. Mr. Kanimba François in hos words said that the cross-border trade complex will facilitate much more imports’ flow.
The three-part cross border trade complex will consist of a main building – also consisting of bank branches, foreign exchange bureaus and a warehouse, accommodation facilities, Restaurants and a market. The whole plan is worth 1.7 billion Rwf. According to François Habitegeko, The Mayor of Nyaruguru district, this idea of constructing this cross-border trade complex – which is, the Mayor said, Nyaruguru district’s own initiative – fits in the broader, national plan to fix the import-export imbalance, with Rwanda still importing more than it exports.
François Habitegeko analyzed that this cross-border trade complex is expected to also help formalize the booming informal trade within border communities. He added that he hopes the district’s partners shall also co-operate in this project and work together.
In 2012, a Nyaruguru-MINICOM-led study found out that the size of informal trade transactions at the Akanyaru River border post hit 1.2 billion Rwf, and Mayor Habitegeko suspects the figure could be even much higher as some of this informal trade could not be recorded. It is still unclear when exactly this gigantic, two-phase construction project will come to an end. Mayor Habitegeko only did hint that phase one will be done before the end of next year.
