Investment opportunities

Fresh Wholesale Food Market

Project Description
  • An initial feasibility study for the development of a fresh food market has taken place
  • The necessary land has been acquired and a specific feasibility study together with an architectural design are expected to be conducted by end 2010
  • It is estimated that Rwanda is consuming about 3,077,660 MT of FFVs (Fresh Fruits and Vegetables) annually
  • Consumption figures per annum for Kigali City are estimated as follows
    • Current: 363,144 MT of FFVs and 36,621 MT of livestock-related products
    • Projected by 2020: 581,000 MT of FFVs (60% increase) and 60,000 MT of livestock-related (39% increase)
  • The main sources of revenue and their expected contribution in total revenues include:
    • Produce entry market fees (38%)
    • Rental fees from trading stalls (21%)
    • Supermarket, cold-room, loading user charges (19%)
    • Banking and administration halls and other (22%)
    • Business transactions are planned to be based on a card system while the revenue model will be based on a rental method.
Expected Results
  • Development of a wholesale market complex including trading stalls, cold storage facilities, a banana ripening centre, shopping mall, premium produce mall, meat and milk trading block and admin halls
  • The food market is expected to serve the domestic market as well as tap regional and international export markets (there is only one wholesale food market in East Africa)
  • Trigger local farmers’ incentives towards increased productivity, improved quality and marketing beyond the local areas; thereby increasing farm incomes
Expected Cost USD 48 million
Actions Required or Implementation Arrangements Public Private Partnership
Status
  • Total revenues in the 6 years until break-even is expected to be USD 175 million
  • Funding for the initial feasibility study has been provided by the Uganda based Kilimo Trust
  • Collaborators in the project are Ministry of Agriculture, RDB, PSF (Private Sector Federation) and Kigali City Council
Contact Rwanda Development Board
Clare Akamanzi
Chief Operations Officer
Tel : +250 78830 1661
Email : clare.akamanzi@rdb.rw