He invested in infrastructure projects, particularly in real estate developments that have completely transformed the face of the country.
In a youth-focused program on Rwanda Television called 'Password', Dennis Karera shared how he ventured into business, the various roles he undertook in the army that liberated the country, and also offered advice to young people.
Karera's story begins in Uganda, where he was born as a refugee, like many other Rwandans who were exiled because of the bad governance that existed in Rwanda at the time.
After enduring the hardships of exile, Karera, together with other energetic young men, decided to join the Ugandan army as a way to learn how they could one day fight for rights to return to their homeland.
'We felt that it wasn't enough to simply be refugees where we were, living there unhappily. So, we decided to join the Ugandan army, saying to ourselves, 'Let's go and learn how we might find a way forward.''
'We went and became soldiers while we were still very young. We joined the war, most of us aged 21, 22, 23, 24, or 25, driven by the conviction that we could not continue living as refugees.'
He explained that the struggle to liberate the country was not easy, but that as challenges increased, they gained new knowledge and became even more determined, because they had a purpose and a goal to fight for.
'There were many challenges. We were young, but should we have given up just because we were young? The idea was: you are there, so fight for this cause, and indeed, that work was done. Honestly, if we hadn't been young, I doubt we would have had the same courage,' he said.
In 1992, a meeting was held in Volcanoes National Park, where military operations were being coordinated. It was a gathering to pool ideas and discuss what would be done after defeating the enemy. Everyone had an opportunity to share what they thought they could contribute in order to achieve complete liberation for the country.
After the struggle to liberate the country and stop the Genocide against the Tutsi, there followed another battle, that of building the development of a nation that had been devastated.
Many of those who played a role in the country's liberation initially worked in various government positions, while others chose to invest in different sectors.
Karera also worked for the government in different roles, including in security services, the Ministry of Education, and others, although from time to time he also engaged in business activities.
In 1997, he requested a bank loan of 70 million Rwandan francs (Frw), presenting a project he wanted to implement and explaining how it would have a positive impact on society.
Although it was uncommon for an individual to seek such a large loan at the time, he was eventually approved and received the funds in phases, and the venture turned out to be successful.
'Within two years, the project was doing extremely well. I repaid the millions and was left with resources to continue growing my businesses,' hennoted.
After concluding his government service, he reflected on how he could contribute both to his personal growth and the country as a whole. While initially considering continuing his previous activities, he decided that expanding them would be a more impactful approach.
In 2008, he embarked on a project valued at 500 million Rwandan francs. He applied for a loan from the Development Bank of Rwanda (BRD), secured the funding, and successfully executed the project, which progressed smoothly.
After a short period, he returned to the bank to request a loan of Frw 1 billion, embarking on a major project to construct the Crown Conference Hall in Nyarutarama. Located near the Tennis Club and Golf Course, this venue hosts a wide range of meetings and events.
He continued expanding his business ventures, and in 2011, he sought out business partners. Starting with an initial investment of Frw 1 billion, he and his partners successfully raised about $40 million, which they used to embark on groundbreaking projects. This led to the construction of Kigali Heights, a landmark development in the city.
Inaugurated in 2016, the building was later sold to Yyussa, a Rwandan-owned company, for approximately $31 million (equivalent to over Frw 43.8 billion).
Karera also shared that he remains active in business and, along with his partners, now manages investments worth at least $200 million (over Frw 280 billion) across various sectors.
One of the most promising projects currently underway is being developed by Savannah Creek Development Company, which is modernizing the Kangondo neighborhood. The project will feature 600 residential units, including apartments and unique housing structures that reflect Kigali's distinctive architecture.
The housing units will be designed in a range of styles, such as Tuscan, Classical, Mediterranean, Contemporary, and Apartment designs, to cater to the purchasing power of different buyers. The project is expected to cost at least $60 million.
The buildings being constructed in Nyarutarama are modern in design and construction.
Advice to young people
Karera also emphasized that when you perform well, it gets noticed, helping to build a strong reputation and open doors of opportunity. He encouraged young people to dedicate themselves fully to everything they do.
He explained that having a clear vision of who you want to become from a young age is crucial, as it helps you stay focused on your goals.
'Let me offer some guidance to young people: start preparing now for the person you want to become in the future. Begin to envision yourself and ask, 'Who are the people doing the things I see and hear about?' To expand your knowledge, you need to listen attentively.
Today, there are many distractions, unlike in our time when we didn't even have mobile phones,' he said.
Karera urged young people to continue broadening their knowledge through reading diverse books, as reading expands the mind. He also suggested educational trips and engaging in meaningful conversations as valuable ways to learn.
Karera further reminded young people to uphold truth and integrity, avoiding anything that could undermine their dreams.
IGIHE
