French conglomerate Vivendi (VIVEF) which operates businesses throughout the media value chain is exploring investment potentials in Rwanda to diversify its tourism sector by opening up new cultural entertainment avenues, an official source revealed Thursday in Kigali.
The move follows an agreement signed in August this year between the Rwanda Development Board (RDB) and Vivendi Group, a global leader in cultural content and media for the development and occupancy of the Kigali Cultural Village (KCV) in Rebero, a hill overlooking Kigali city.
The village sits on 30.1 hectares and will have facilities intended to showcase Rwanda’s traditional and contemporary arts, nature, biodiversity, traditional lifestyle and history, it said.
Under the 20-year lease agreement, the French conglomerate which is controlled by billionaire Vincent Bollore, will spend between $ 3-4 million in Phase 1 of the project.
Phase 1 is expected be completed in six months and will include a 300-seat modern cinema hall, a 15,000-people open concert area, a food court and a children’s gaming area
In addition, the facilities will host 19 movie sessions a week, live concerts, cultural and artistic festivals, seminars and conferences.
The KCV project is estimated to cost over US$ 40 Million.
CU/as/APA