Jack Kayonga replaces Prof Nshuti at Crystal Ventures
By Staff writer
KIGALI, RWANDA- Professor Nshuti Manasseh has been sacked as the board chairman of the powerful business empire Crystal Ventures Ltd, the business arm of the ruling Rwandan Patriotic Front. The new Board chairman is Jack Kayonga, the head of Rwanda Development Bank [BRD].
Some reports indicate that Prof Nshuti was removed for alleged poor management practices though this was unconfirmed by press time. RPF Secretary General François Ngarambe did not answer our calls. It is well known that many workers at Crystal Ventures were not happy with Nshuti’s management style and welcomed his removal.
Prof Nshuti has recently been prominent writing newspaper series campaigning heavily for President Kagame to be retained when his term expires in 2017.
Among the companies held under Crystal Ventures are Inyange Industries, Bourbon coffee, Mutara enterprises, Intersec and owns two bombardier executive jets used by President Kagame. Crystal Ventures is said to be worth more than USD 500 million and is currently in the process of selling some of the companies it holds.
There have been allegations by some disgruntled RPF members that the management and benefits of Crystal Ventures are unknown to the general party membership.