Kigali Cement plant auction postponed

Kigali Cement plant auction postponed
26 September 2018

The auctioning of Kigali Cement’s plant in Nyarugenge, Rwanda, has been postponed, allowing more time for talks between the involved parties. The sale was being made to allow the company to pay its creditors, Rwanda Enterprise Investment Company (REIC).

However, Kigali Cement and REIC have now agreed to hold talks, according to Aloys Bizimana, court baliff in charge of the auction.

"We can postpone one, two or three times but we cannot continue [to postpone the auction] forever. We have our way of doing this in line with the law. If one is willing to pay [the debt] or if both parties are willing to hold talks over their case, we cannot refuse it. What is important is that the case gets closed successfully with respect to the law," said Mr Bizimana.

Published under Cement News