New Forests Company (Rwanda) Limited
Region and country of operations: Africa, Rwanda
Jurisdiction of registration: Rwanda
Business sector: Forestry and wood products
Date of agreement (month/year): 10/2016
Finnfund’s financing: USD 7,500,000
Size of project/financing: USD 13,000,000
Environmental and social category: B+
New Forests Company Rwanda is a forestry development company domiciled in Rwanda and owned by New Forests Company Holdings Limited (Mauritius). The Company has a forest concession of mature pine of approximately 8,000 hectares in Southwestern Rwanda. The Company also operates a pole treatment facility and sawmills.
Main development impact
The company provides employment to a significant number of local people and supports outgrowers and farmers in the communities. The company has an extensive, well-designed CSR program which is partly financed by the company but has also managed to collect funds from other sources, e.g. NGO’s. The company’s forests are managed in a sustainable manner and in 2018 the company achieved FSC certification. The planting program together with sustainable forest management practices contribute to climate change mitigation and reducing deforestation.