The Higher Education Council in Rwanda is requiring MACU-Rwanda to have a physical address (property and appropriate building(s), etc.) in Rwanda. After a two and a half year journey we closed on the property and two buildings pictured on the right. Both buildings are finished and fully occupied with renters.
We needed to borrow from the bank in Rwanda to fully cover the cost of the buildings and property. The rental income will more than cover the monthly mortgage.
Decisions will be assessed in the middle of September 2023 concerning rental space, campus space, furnishings, etc. The plan is to rent as much as we can for as long as we can to provide a sustainable path to cover the overhead for the operation of the campus/school.
Rwanda Challenge must raise the funds for the phases below which are now being adjusted with the purchase of these buildings and property.
Clockwise from top right:
Eleven Rental units - Main Building and Shoe Shop
Classroom in Duplex Building
Duplex Building Housing the MACU-Rwanda Campus
Phase 1: Initial Expenses
Phase 2: Finish Building
Phase 3: Furnish Campus
Phase 4: Ongoing Expenses