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…

Consumers expected to face rising food prices

Foodstuffs on display at a stall in a market.

  Experts say consumers will have to dig deep into their pockets to purchase the current food basket in the coming months as food prices continue to soar. This comes at the time supply of main food items in the daily food basket for households continue to slowdown hence forcing their prices on the market to rise since mid-last year. “Much as we can hope for the best in the next three months, we cannot rule out a possibility of a further rise in food prices,” said Job Opar, a consumer protection expert on Thursday. He adds, “And this is mainly driven by a short supply of these items which his mainly due to climate…

Youths still face challenges of accessing financing-experts

Youths still face challenges of accessing financing-experts

A new survey indicates that most youths are still impeded by lack of access to finance in a bid to start their own businesses. The Anzisha youth entrepreneurship survey shows that 48 percent of young entrepreneurs interviewed highlight access to finance as a biggest obstacle towards entrepreneurship. “This suggests that significant work remains to make it easier for young business people to succeed,” a survey released on Tuesday by African Leadership Academy stated. The survey indicated that youths (41 percent) do not get enough support as they venture into entrepreneurship which forces some entrepreneurs to close shop or struggle with a meagre profit margin. “There is a large deficiency of knowledge and insights on young…

Families Petition Kagame, As Fina Bank Faces Investigation

m_m_Families-Petition-Kagame-As-Fina-Bank-Faces-Investigation

President Paul Kagame has ordered the misery endured for five years by 75 families waiting for compensation from the national electricity utility (EWSA), be put to an end immediately. If not, Kagame said, the families should inform him right away. “Take the minister’s number, call her if the issue is not resolved in one week,” he said, referring the residents to the Minister in the President’s Office, Venantia Tugireyezu. Five years ago, hundreds of families in Mudende and Busasamana sectors of Rubavu district in Northern Province were expropriated as EWSA rolled-out electricity in the district. Some families were compensated, and others were not. The residents who were not compensated say they made several attempts to…

KCB Rwanda takes financial literacy campaign to schools

KCB Rwanda takes financial literacy campaign to schools

As part of activities to mark the 2016 Global Money Week, KCB Rwanda rolled out a campaign to boost financial education as part of its financial inclusion campaign. Global Money Week is sponsored by several commercial banks in partnership with AIESEC (Association Internationale des Etudiants en Sciences Economiques Commerciales) Rwanda, a global exchange organization headquartered in the Netherlands. The initiative which involves teaching young people how to save, plan and invest their money to ensure financial freedom in future, also saw the managing director of KCB Rwanda, Maurice Toroitich, make a presentation on financial literacy to students of the school. The KCB manager urged young Rwandan students to develop a saving culture at an early…

Tired Of Misery, Genocide Survivors Establish A Billion Francs Fund

Tired Of Misery, Genocide Survivors Establish A Billion Francs Fund

A group of students, all members of the association of survivors of genocide against Tutsi (AERG), has established a multimillion fund from which they will mobilise large capital to invest in profitable ventures. Any investment they will make, eventually, is expected to draw the orphans out of vulnerable groups. AERG members, now 43,000, from Universities, secondary schools and their alumni community, have agreed each to find at least Rwf20, 000 equivalent to one share in the planned Rwf1.3 billion scheme. The scheme is named the Youth Initiative for Mutual Support, Investment and Sustainable Development of which a member will own ten shares (worth Rwf200, 000) maximum. Since January, members from across the country were approached,…

Africa Must Stop Being A consumer Of Technology-Kagame

President Kagame received by Senegalese President, Macky Sall

President Paul Kagame has said that the current technological progress in other parts of the world is exerting pressure on Africa “to catch up and keep pace”. Kagame said it’s time for the continent to make a fundamental shift and embrace technological advancement and not just focus on fighting the biting poverty. “This starts with a change in our mindset. We really cannot be satisfied with just ending extreme poverty,” he said earlier in the day from Dakar, Senegal, where he is attending the Next Einstein Forum, a platform which showcases Africa’s top young scientists and connects them to leading global scientists, policy-makers and the business world. The idea of the forum is for Africans…