Rwanda

About ICM Rwanda

ICM was invited by the Government of Rwanda to investigate how it might assist the people of Rwanda to upgrade and expand their domestic rice industry. Following detailed investigations, ICM provided a proposal for a staged investment in long-term, sustainable, and profitable rice production in Rwanda. The model is based around private equity investment, coupled with philanthropic support, married into partnerships and co-ownership arrangements. It is aimed at producing a positive result for the investor and creating lasting and significant benefits for Rwanda, its people and the vital industry of rice production.

ICM has agreed to investigate how it can assist the people of Rwanda to restructure their domestic rice industry

The project utilises a sound mix of global technology and manual labour for crop establishment and management, followed by mechanical harvesting, handling and processing, to maximize yield and quality.

The farmers and farmer cooperatives are shareholders in the corporate farms and mills and participate in management decisions and receive dividends from the transparent operation of the business.

Stage 1 comprises a joint venture between ICM and designated rice grower cooperatives. ICM provides the capital to upgrade the mills in return for an equity percentage of each operation.

Two of the mills are now owned separately by two newly incorporated Rwandan companies, managed by Boards of Management, and are supported by ICM expatriate staff in the replacement and upgrade of the mills, the development of a new Rwandan Seed Rice Multiplication scheme, and the broad extension of new rice growing techniques.

Stage 2 will be also be a joint venture between ICM and the rice growers cooperatives, supported by the Rwandan Government and organizations such as the African Development Bank and the International Finance Corporation.