GLADS Hotel Driven by BK to Elevate Kigali's Hospitality

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Bank of Kigali Supports Local Real Estate Development with GLADS Apartment Hotel

Bank of Kigali Plc has played a pivotal role in the development of the GLADS Apartment Hotel, a new hospitality venture located in the Ndera Sector of Kigali. The hotel was officially launched on December 30 and marks a significant milestone in Rwanda’s real estate and hospitality sectors. With an investment of over Rwf2.5 billion, the bank has demonstrated its commitment to supporting local entrepreneurs and promoting private-sector growth aligned with national economic objectives.

GLADS Apartment Ltd, the company behind the project, was founded in April 2019 by Wilson Gafurama and his wife, Aileth Gakwaya. The company was established to manage and operate their apartment and rental housing investments. The newly opened GLADS Apartment Hotel features 37 apartments and 70 rooms, designed to cater to both short-stay and long-stay guests. This facility addresses the growing demand for quality accommodation in Kigali's rapidly expanding residential and business areas.

The hotel offers a wide range of services and amenities, including meeting rooms, fully furnished apartments, a bar and restaurant, a coffee shop, a supermarket, a gym, a swimming pool, a jacuzzi, a sauna, and massage services. Additionally, the hotel includes a large conference hall that can accommodate events such as conferences, concerts, weddings, live recordings, and collaborations. Full wedding service packages are available, with seating for over 1,500 people. The layout of the hall is flexible, allowing it to be adjusted according to the event's needs.

Darius Mukunzi, Head of SME at Bank of Kigali, expressed his satisfaction with the partnership with GLADS Apartment. He emphasized the importance of strong capacity and preparedness when working with the bank. "BK offers investment loans that can be repaid over 10 years, and they are accessible to everyone," he said. "The challenge is that many people do not know this is possible."

Mukunzi highlighted the bank's readiness to provide financial advice to encourage Rwandans to take on large investments. He noted that BK is the leading local bank financing major projects, prioritizing Rwandans first. "We are proud to serve Rwandans, and our doors are open to everyone. Across our branches, we have business specialists and offer all types of loans, both short- and long-term. Anyone with an idea should not hesitate to approach us, we will welcome them warmly."

The financing of GLADS Apartment Hotel follows several other real estate projects funded by Bank of Kigali this year. This reflects the bank’s ongoing commitment to supporting residential, commercial, and hospitality developments. Through locally financed projects, BK continues to empower local entrepreneurs and family-owned businesses, create jobs, support urban development, and strengthen Rwanda’s investment environment while promoting private-sector-led economic growth.

Wilson Gafurama, founder and chairman of GLADS Apartments, described the project as a long-awaited child born out of purpose. He emphasized the need for trust in financing institutions that have been strengthened by good governance. "All they need is a clear and well-presented idea. We should not condemn banks, especially when some borrowers fail and their properties are auctioned. That is the bank’s last option. There are many more success stories than a few failures."

Gafurama also warned against using loans for personal luxury or purposes that do not generate profit. Instead, he stressed the importance of investing strictly in business. "I thank the Bank of Kigali for financing my projects. Their support contributed a lot. Anyone who helps you complete your project and achieve your dream is an important partner. They truly care about their clients."

Alphonse Safari, Quality Management Specialist at Rwanda Development Board (RDB), commended the initiative and the continued collaboration between investors and the government. He noted that such a facility in hospitality and tourism demonstrates projects that serve as pillars for the country’s development, contributing directly to economic growth. "It has already created jobs for many people," he said. "Taxes will be generated, innovations encouraged, and suppliers, hospitality players, and others will benefit. We need such collaborations to continue utilising available resources for collective development."

GLADS Apartment Hotel began operations in July and has so far created over 90 jobs, highlighting the positive impact of such ventures on the local economy.