Rwanda and US University Sign Deal to Invest in Social Impact

Wharton University MBA students meeting with President Paul Kagame

Rwanda is engaging social impact investors to take part in the country’s development agenda. Rwanda last year signed a deal with a US based Wharton University to facilitate knowledge exchange and encourage policy change in national markets. The academic institution is a global leader in Business and Finance studies. About 30 MBA students today met with President Paul Kagame at Village Urugwiro. The president told students that Rwanda has used its human capital to move from scratch to economic growth despite suffering the 1994 genocide against Tutsi. “22 years ago we saw bad things humans are capable of, today you see the good the same human beings are capable of,” Kagame said during interaction with…

Rwanda successfully issued Rwf 10Billion 15 year fixed coupon Treasury bond

John Rwangombwa, Governor of the Central Bank

The government has through the Central bank successfully issued a 15 year bond worth Rwf 10 billion on Wednesday, announcing its part of its regular issuance to finance infrastructure and development of capital markets. The Central bank says that the bond attracted more retail investors accounting for 48 orders from the 57 applications received by the bank which it says was higher compared to February this year. “This is the longest tenure bond issued ever since the government started issuing treasury bonds and it’s over subscription of 215.5 percent shows good appetite for government bonds,” said John Rwangombwa, Governor of the Central Bank on Thursday. Accordingly, the retail investment represented 14.61 percent of the total…

Rwanda to become Africa’s first digital economy

Rwanda to become Africa’s first digital economy

Rwanda has secured a deal with Ericsson that will help the country digitalise its economy. The seven-year agreement signed on the sidelines of the World Economic Forum on Africa in Kigali will support Rwanda’s vision to create a digital economy. For Rwanda, a digitalised economy drives greater financial and social inclusion for its society and citizens through intergration of informal sectors such as savings cooperatives and micro finance players in the ecosystem. Representing government of Rwanda at the signing, Finance Minister Claver Gatete said, “Mobile payment technology has the potential to advance financial inclusion and help people build savings”. He said this technology gives government and private sector a more cost-effective, efficient, transparent, and safer…

‘Catch up’Games In Africa May Derail Industrialisation

Discussants at a panel on Africa’s Fourth Industrial Revolution

For Africa to move into its fourth industrialisation phase, it may require cleaning up its mess of playing catch-up games. President Paul Kagame said the African countries should invest in human capacity of Africans and infrastructure as the only way to go. “Africa should not still be playing catch-up, by the time the Fifth Industrial Revolution comes around,” President Kagame said while featuring on a panel on Africa’s Fourth Industrial Revolution at the ongoing World Economic Forum on Africa taking place in the capital Kigali. Appearing on the same panel, the African Development Bank President, Akinwumi Adesina believes that it’s time Africa gets revolutionalised. “We must revolutionise Africa, we lost over 3000 youth in the…

EU Signs Rwanda €177m For Electricity Roll-out

EU envoy to Rwanda Michael Ryan and Rwanda’s Finance Minister Claver Gatete signing

Rwanda is getting closer to achieving its energy accessibility target of 70% by 2018. The European Union and government of Rwanda have this Tuesday signed a financing agreement worth €177 million (Frw157 Billion) to support the energy sector in the next five years. The funds will enable Rwanda improve electricity supply, transmission and distribution. This funding will also be used in management of the energy sector and  raising citizens accessibility to energy in all its forms: electricity, solar, biomass. Energy is one of the top priorities for Rwanda. “Access to modern energy for a major part of the Rwandan population and development of its productive activities is a prerequisite for achievement of its main development…

Funny photos: KCB employees pose as their clients in a new marketing strategy

FUNNY PHOTOS: KCB employees pause as their clients in a new marketing strategy

Kenya Commercial Bank-(KCB-Rwanda) staff on Tuesday showed up to work dressed like the Bank’s customers from different disciplines-a sign the Bank says is intended to ‘celebrate professions of the world.” The style coincides with Labour Day celebrations. On the Bank’s Tweeter Hashtag, all KCB staff including the Bank’s CEO, Joshua Oigara, were seen dressed in different professional attires like contractors, Air Hostess, Restaurant, soldiers, Journalists and doctors. Others at the Bank’s 12 branches across the country, staff members dressed like chefs, lawyers, Mobile Money Agents as well as waitresses. “We planned this special day for our customers. We thought there was a need to give them value and hence showing to work dressed like them,”…

Dr. Gatera appointed new board chairman for Crystal telecom

Dr. James Gatera

Crystal Telecom, a subsidiary of Crystal ventures limited has appointed Dr. James Gatera has its new board chairman replacing Jack Kayonga. Gatera  who  is  currently the  Chief Executive Officer of crystal Ventures  limited  and also head of bank of Kigali  since 20017, comes with a vast experience from the financial sector that is likely to bolster the company’s performance. “Under his stewardship, the bank had sustained profitability and market leadership with approximately 35 percent market share across all the balance sheet metrics,” said a statement by the board in the meeting held on Friday. Dr. Gatera was also instrumental in the initiation of Bank of Kigali as a one stop center for financial services which…

With New Tax Policy, Rwandans Digging Deep For Cars

With New Tax Policy, Rwandans Digging Deep For Cars

Effective April 21, Rwandans begun digging deeper into their pockets to own an imported secondhand vehicle. Rwanda has began implementing the East African Community(EAC) Depreciation schedule through a Free on Board depreciation rate ranging between 20% for 2 year old cars to 75% for 9 year old cars. A 10 year old car and above, the depreciation has increased to 80%. Under the new conditions, the price of mostly preferred secondhand car brands including; Toyota Corolla, Toyota RAV4 and Toyota Carina E have almost doubled. New vehicles with an engine capacity of less than 1500cc pay 5%, between 1500 and 2500 cc pay 10% and capacity of above 2500 cc pay 15%. “A Toyota Carina…

Rwanda’s King Faisal Hospital Sold

(r) Oshens Group representative Alexis Lifschtz shakes hands with Francis Gatare(l) of RDB as Finance Minister Claver Gatete looks on

Oshens Group, an international health services company has a €21 million investment deal to upgrade Rwanda’s referral Hospital, King Faisal, to international standards. The deal signed on Monday afternoon, between Oshens Group company and the government of Rwanda represented by Rwanda Development Board and Ministry of Finance and Planning, is aimed at transforming King Faisal hospital entirely. KT Press has established that there will be a gradual handover until a time when the investor takes over management of the hospital completely. King Faisal has suffered prolonged mismanagement yet government has always wanted the hospital elevated to international standards. Rwanda’s Finance Minister Claver Gatete said that, “Oshens Group has come as one of the most competent…

Bavuga ko bagihura n’imbogamizi mu bucuruzi bwa EAC

Abakorera mu bihugu bigize umuryango wa Afurika y'Iburasirazuba baragaragaza ko bagihura n'imbogamizi z'imisoro

Bamwe mu Karere ka Rusizi bakora imirimo itandukanye bavuga ko basobanukiwe n’umuryango wa Afurika y’uburasirazuba n’inyungu ubafitiye mu buhahiranire. Mu ruzinduko Abasenateri bagize komisiyo y’ububanyi n’amahanga ubutwererane n’umutekano bagirira muri ako Karere ku wa 20 Mata 2016, babonanye n’inzego zikora imirimo itandukanye yiganjemo iy’ubucuruzi babagaragariza ko hakiri imbogamizi muri ubu buhahirane. Aba baturage bavuga ko hari amahirwe bakura mu bufatanye bw’ibi bihugu bigize umuryango wa Afurika y’uburasirazuba arimo kuba bakora ingendo bitabagoye dore ko batagisabwa impapuro z’inzira zabahendaga no kuba bakora izi ngendo mu mutekano. Gusa ariko abakora ibikorwa by’ubucuruzi bagaragaza ko bagihura n’imbogamizi z’uko bagisoreshwa ibicuruzwa bakura mu bihugu bigize uyu muryango iyo bigeze mu Rwanda kandi hari amasezerano akuraho imisoro kubikorerwa mu bihugu…