Fusion Capital has acquired a 46.5 per cent equity stake in Rwandan large scale aggregate mining company Rusororo Aggregate
Fusion said it will partner with the existing management team to take the business operation to a new level of efficiency and mechanisation.
Rusororo Aggregate specialises in stone crushing for commercial purposes and owns multiple sites in the region.
Fusion said that its investment will be directed into the mechanisation of the quarry, to increase production capacity to more than 100 cubic meters per hour to meet the country’s growing construction demand.
A Rusororo Aggregate spokesperson said, “We are delighted that Fusion has shown this confidence in us. It is great to have a financial partner with the experience Fusion has to offer. The company has helped us in every step and this investment will allow us to increase the output of our business at least eight times.”
Fusion Kigali office director Kajuju Kageenu said, “It is great to play a part in enhancing a business which is so vitally important to Rwanda’s development objectives. We are delighted to be on board.”