Banana growers in Rwamagana district are set to enjoy double profits from the paper factory to be built in Rubona sector in Rwamagana district.
Rwamagana is known for large scale banana growing. The planned paper factory that will be using banana stems as raw material is expected to cost over Rwf4.7 billion.
According to Nehemie Uwimana, mayor of Rwamagana district said thatthe factory will be using banana plants as the raw materials to make stationery paper and packaging boxes in Rubona sector of Rwamagana district.
“Farmers are set to make double profits from selling bananas and banana stems,” he added.
Uwimana also explained that through the chamber of commerce at the district, they have the commitment from a Luxembourg-based Erasmus Investment International which will acquire a 75 per cent stake in the plant, while the rest of the shares open for the public to subscribe.
“Rwandans are encouraged to invest in this venture because it is bankable. Each share is worthy Rwf589, 000”. The mayor explained
The mayor also noted that besides promoting social development in the district the factory will employ over 300 residents.
The construction will kick off after environment assessment report is done by REMA officials.
Rwamagana district revealed doors are open to the Rwandans willing to buy shares; one share is Rwf590.000
Apart from paper factory, there is a wine processing factory in Rwamagana where residents sell their banana produce.