Govt buys Phoenix Metals for Rwf1.2b

Since its privatisation in 2002, Phoenix Metals has not operated at full capacity. PHOTO | CYRIL NDEGEYA

By  KABONA ESIARA

What you need to know:

  • The government has bought back Phoenix Metals, a tin smelter for Rwf1.2 billion to save its initial investments in the plant.
  • The government bought the plant through Ngali Holdings, a business arm of the Ministry of Defence.
  • Last year, Phoenix Metals was put under receivership over a loan owed to I&M Bank Rwanda, which the company failed to service.

In the headlines

View All