Rujugiro Ayabatwa's UTC bought at RWF 6.7 billion ($8.1 M)
Today’s auction saw Rujugiro Ayabatwa’s UTC bought at RWF 6.7 billion ($8.1 M) by Kigali Investment Company LTD (KIC).
KIC is an investment group made of two people, Paul Karangwa Gashabana and James Rudasingwa.
The reality being, Paul Karangwa Gashabana and James Rudasingwa are simply managers of Gen James Kabarebe assets.
One of the other assets of Kabarebe they manage is Kigali City Market Complex (KCMC).
To highlight the sham behind auctioning UTC. Rujugiro valued UTC at $20 M. KIC’s KCMC is valued by Kigali City Council at $25 M. Yet, in reality, KCMC is of so much less value compared to UTC.
KCMC is a 350-tenant complex constructed at the site that used to be home to the former Nyarugenge Market.
Kabarebe acquired this land without paying a single penny to Kigali City authority, after forcibly evicting retailers.
After completion of KCMC’s construction, activities started without receiving an authorization from Kigali City Council (KCC).
KCC closed KCMC on allegations of lacking CCTV cameras and walkthrough detectors.
However, due to Kabarebe’s dictation, activities at the complex resumed in 3 days without meeting KCC’s requirements.
To jump back to Kabarebe-Rujugiro rift, recently Kabarebe was eavesdropped saying that Rujugiro’s wealth would collapse because he (Rujugiro) acquired his wealth by selling, to South African Apartheid, hearts of Burundian Hutus killed in 1965-1973. During that conversation, Kabarebe also claimed that it was why South African doctors were the first to successfully complete a heart transplantation.
Criminal Paul Kagame