Greedy Paul Kagame involved in a scam of raising US$400 million in a debut sale of Eurobonds in order to enrich himself
By Jean Pierre Gatimbo, Toronto, Canada
The government of the Rwandan strongman Paul Kagame just announced that it plans to raise US$400 million in a debut sale of Eurobonds supposedly to stimulate economic development.On close examination, however, the true intention of the Rwandan dictator becomes clear to loot from the Rwandan taxpayers.
According to the prospectus issued by Rwandan regime, US$200 million will repay loans on the Kigali Convention Centre and a development plan for Rwanda Air. Another US$150 million will be spent completing the Kigali Convention Centre.
In other words, only US$50 million will target real development building a new hydro power plant.
Even by Kagames well-established thieving, this latest shameless behavior is utterly shocking.
The Kigali Convention Centre will consume over 60% of the bond proceeds.
But here is the saddest indicator of how low the Rwandan dictator has sunk. The money raised on the bond market will be used to repay Crystal Venture who is financing the construction the Kigali Convention Centre. In other words Kagame is looting from the state and Rwandan taxpayers to repay himself, as chairman of Crystal Venture.
Wonders never cease! Kagame is about to mortgage Rwanda in broad daylight. While Rwandans and their children will be repaying these loans, Kagame and his children will be sipping champagne and laughing on the way to the bank.
Source: Umuvugizi.com
By Jean Pierre Gatimbo, Toronto, Canada
The government of the Rwandan strongman Paul Kagame just announced that it plans to raise US$400 million in a debut sale of Eurobonds supposedly to stimulate economic development.On close examination, however, the true intention of the Rwandan dictator becomes clear to loot from the Rwandan taxpayers.
According to the prospectus issued by Rwandan regime, US$200 million will repay loans on the Kigali Convention Centre and a development plan for Rwanda Air. Another US$150 million will be spent completing the Kigali Convention Centre.
In other words, only US$50 million will target real development building a new hydro power plant.
Even by Kagames well-established thieving, this latest shameless behavior is utterly shocking.
The Kigali Convention Centre will consume over 60% of the bond proceeds.
But here is the saddest indicator of how low the Rwandan dictator has sunk. The money raised on the bond market will be used to repay Crystal Venture who is financing the construction the Kigali Convention Centre. In other words Kagame is looting from the state and Rwandan taxpayers to repay himself, as chairman of Crystal Venture.
Wonders never cease! Kagame is about to mortgage Rwanda in broad daylight. While Rwandans and their children will be repaying these loans, Kagame and his children will be sipping champagne and laughing on the way to the bank.
Source: Umuvugizi.com