ORIGINS AND EVOLUTION OF THE BUJA CITY PLAZA PROJECT INITIATED BY THE UBAKANATION GROUP
- May 25
- 3 min read
ORIGINS OF THE BUJA CITY PLAZA PROJECT
The idea of rebuilding the central market of Bujumbura, under the name "BUJA CITY PLAZA," was a long-standing project within the UBAKANATION GROUP. This idea originated from a personal initiative of Mr. Dieudonné MANIRAKIZA (Fablice), founder and chairman of the board of directors of the UBAKANATION GROUP.
The opportunity to bring this project to fruition arose in Kayanza on July 30, 2014. During Burundian Diaspora Week, Mr. Dieudonné MANIRAKIZA addressed His Excellency the President of the Republic of Burundi and requested authorization to implement the project to rebuild the central market of Bujumbura, which had been destroyed by fire on January 27, 2013.
Recognizing the economic and social importance of the Bujumbura Central Market, Mr. Dieudonné Manirakiza expressed his commitment to mobilizing the necessary technical, financial, and operational resources to realize his vision: a modern, multifunctional commercial complex, compliant with international standards and capable of sustainably revitalizing the economic activity of the city of Bujumbura and the entire country.
This spontaneous proposal from Mr. Dieudonné Manirakiza was welcomed by the High Authority, which also invited the UBAKANATION GROUP, represented by Mr. Dieudonné Manirakiza, to begin the necessary discussions with the Minister of Infrastructure in order to:
Evaluate the technical and financial aspects of the project;
Establish the appropriate legal and contractual framework;
Negotiate and sign a public-private partnership (PPP) contract
in accordance with applicable regulations. It was following the condemnation of the Ministry that, on September 2, 2024, an agreement concerning the provision of the land which housed the former central market of Bujumbura was concluded between UBAKANATION GROUP and the Ministry of Infrastructures.
Since then, the idea has went through several steps of negotiations, studies, analysing, approving, etc.
The notable steppingstone of process is as follows;
On the 30/07/2024, Fablice D. MANIRAKIZA made a proposal of financing and developing Bujumbura former central market.
On the 02/09/2024, The 1st Convention (Agreement) was signed between Burundi's Ministry of Infrastructure and UBAKANATION GROUP, allowing UBAKANATION GROUP to clean up the site and to the preliminary work, such as studies, earthworks, architectural design and more.
Mr. Fablice D. MANIRAKIZA held a public press conference during which he presented the financing structure, which led to the creation of the first Collective Investment Fund (CIF): ONE AFRICA INVESTMENT FUND, and announced the new name of the project: BUJA CITY PLAZA.
On the 27/02/2025, In light of the efforts undertaken and the technical and financial capabilities demonstrated by UBAKANATION GROUP, the Council of Ministers officially awarded the project to UBAKANATION GROUP on February 27, 2025, and authorized it to begin negotiations for a Public-Private Partnership (PPP) contract.
On The 11/09/2025, during the meeting between UBAKANATION GROUP and the Office of the Prime Minister of Burundi, chaired by His Excellency the Prime Minister, it was agreed that, in accordance with the law governing public-private partnership (PPP) contracts, the creation of a project company is a legal obligation allowing the Burundian State to participate in the capital.
On the 07/01/2026, a second session of cabinet meeting chaired by Burundi's president Évariste Ndayishimiye made a recommendations for the state of Burundi to join by being part of financing through a joint venture (JV) company. The ideas was discussed carefully and agreed by both parties. The state of Burundi invested through Burundi's youth bank (BIJE) and UBAKANATION GROUP invested through the Mutual Fund ONE AFRICA INVESTMENT FUND (1AIF) in a formed joint venture (JV) company; UBAKA LANDMARKS.
On the 26/02/2026, a third session of cabinet meeting chaired by Burundi's president Évariste Ndayishimiye analysed and approved the final contract of PPP, which granted a 3 years of Building BUJA CITY PLAZA and 24 Years of concession only for the first phase, which is five stores shopping mall.
On the 19/03/2026, the newly formed joint venture company UBAKA LANDMARKS Legally represented by Mr. Fablice D. MANIRAKIZA, officially signed the Public-Private Partnership (PPP) Contract with the Burundi’s Minister of Infrastructure and the Burundi’s Minister of Finance to began the work of BUJA CITY PLAZA.
On the 09/04/2026, the President of Burundi and other concerned Ministers signed a decree nominating 7 members to represent the state of Burundi in the board of directors in the company UBAKA LANDMARKS (https://presidence.gov.bi/2026/04/11/decret-n100-057-du-09-avril-2026-portant-nomination-des-administrateurs-representant-letat-du-burundi-au-conseil-dadministration-de-la-societe-de-projet-ubaka-landmarks-chargee-de-la-concep/)
The following has become a history in making.
This is the role of each company in developing BUJA CITY PLAZA;
Maître d’Ouvrage / Project Owner : STATE OF BURUNDI
Maître d’Ouvrage délégué / Project Owner's Representative : UBAKA LANDMARKS S.M
Entreprise / Developer : UBAKANATION GROUP
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