Aloys Manzi, who spent many years in the United Kingdom, recognized this issue and launched a project aimed at providing different types of homes tailored to clients' preferences. This initiative allows members of the diaspora to own homes in Rwanda without the usual difficulties.
In an exclusive interview with IGIHE, Manzi and Ignatius Mugabo explained that anyone wishing to build a home in Rwanda needs to pay 20% of the construction cost upfront. If they lack the full amount, the remaining balance can be financed by a bank, which they will repay gradually.
They confirmed that those interested in building a home do not need to oversee the construction process themselves, as Blackrock handles everything, including finding tenants if the owner is not yet ready to live in the house.
Excerpts:
IGIHE: Could you please describe the 'Blackrock' project?
Mugabo: The 'Blackrock' project is a reliable and well-structured initiative designed with the diaspora in mind. Many members of the diaspora don't have the time to manage a construction project.
They often visit Rwanda for a few weeks and leave without completing what they started due to time constraints. Our project simplifies this process by taking care of everything for them. From purchasing land to building the house, we handle it all.
The process is even more accessible, as clients can begin with a 20% upfront payment, and a major Rwandan bank supporting this project will finance the rest. This ensures that their investment is protected, as the bank oversees the progress of the construction.
IGIHE: What sets these homes apart from others?
Manzi: Our homes stand out because we focus on building high-quality houses customized to the client's specifications. Clients can request specific modifications, and once the construction is complete, we even assist in finding tenants if they are not ready to move in.
While similar services may exist, they are not as widely available, especially for the diaspora. We understand their unique challenges and are here to help them navigate the process easily.
IGIHE: How do you assist those who may not have enough money?
Manzi: We collaborate with a leading bank in Rwanda that is keen to support the diaspora. If a client has 20% of the required funds, the bank will provide an 80% loan to cover the remaining costs. The bank's involvement means they will monitor the project's progress, ensuring everything goes according to plan. This approach differs from simply handing over money to a relative, where there's a risk of being shown photos of someone else's house.
That's why Blackrock is here, and we have other plans for the future, including helping someone with land by building houses on it and assisting them to run other income generating ventures.
IGIHE: Is it possible for someone to request a custom-built home?
Manzi: Absolutely. For example, one of our clients from the United States wanted to use only part of his house and rent out the rest.
He requested that the first and second floors be designed as rental units while he lived on the top floor.
We cater to such needs, whether a client wants to live in the entire house, rent out parts of it, or customize the space for other purposes. Each room is self-contained, making it easy to adapt to different needs. Our dedicated team is always available to assist with customization, ensuring that each home meets the client's desires.
Karirima Aimable Ngarambe
