Business

Rwf10 billion Treasury bond oversubscribed 293%

The recently issued Rwf10 billion ten-year Treasury bond has been oversubscribed by 293.46 per cent, the Central Bank has announced.  According to a statement from the National Bank of Rwanda, institutional investors took share of the bond at 25.4 per cent, individuals and retailers took 49.2...

Saturday, May 26, 2018 - 5:25am

Korea announces $5b package for Africa at AfDB meeting

The Government of Korea and the African Development Bank have issued a Joint Declaration following the conclusion of the Ministerial Roundtable of the Korea-Africa Economic Cooperation (KOAFEC) Conference taking place during the African Development Bank’s 53rd Annual Meetings in which Korea...

Friday, May 25, 2018 - 4:37am

Korea to share tech, industrial revolution experience with Africa

Korean President Moon Jae-in has committed to sharing Korea’s technological and industrial experience with Africa and to help it compete in the 4th Industrial Revolution. His message came at the opening ceremony of the 53rd Annual Meetings of the African Development Bank). “Africa is...

Friday, May 25, 2018 - 4:37am

AfDB and AIMs to partner in scaling investments in technology

The African Development Bank and the African Institute for Mathematical Sciences have signed an agreement to explore partnerships for scaling up investments in Science, Technology, Engineering and Mathematics The Partnership Program would be tasked with scaling up a strong, young African community...

Thursday, May 24, 2018 - 4:01am

Banks, Savings Group partnership to drive up financial inclusion

COMMERCIAL Banks and other financial institutions have been urged to work with community savings groups as part of efforts aimed at deepening formal financial inclusion. National Bank of Rwanda (BNR) Deputy Governor Monique Nsanzabaganwa made the call yesterday saying the move will help create...

Wednesday, May 23, 2018 - 1:31am

EA banks dominate 2018 African Banker Awards

Winners of the 2018 African Banker Awards have been announced at a prestigious gala dinner in Busan, South Korea. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. East Africa...

Wednesday, May 23, 2018 - 1:29am

No dividends for Crystal Telecom MTN investors

Shareholders of Crystal Telecom were Tuesday morning told that they would be missing out on a dividend payout this year following losses posted by MTN Rwanda, where they have a 20 per cent equity stake. During an Annual General Meeting, shareholders were told that there would be no pay out this...

Tuesday, May 22, 2018 - 7:10pm

Commodities exchange sees Rwandan farmers earn more

Like many other farmers across the region, Alice Akabera, the president of Gwiza cooperative, which works with over 290 cereal farmers in Rwamagana District, faced challenges related to post-harvest storage. Often, the farmers would count losses when their cereals went bad for lack of proper...

Tuesday, May 22, 2018 - 5:55am

Do Foreign Direct Investments contribute to Rwanda’s economic growth?

Foreign Direct Investment (FDI) has been appraised by many researchers, as an important contributor to the economic growth and development of nations (Borgean. C. 2015). However, there seems to be a required trend of performance for any economy to attain a sustainable flow of FDIs and maximise the...

Tuesday, May 22, 2018 - 5:55am

Meet Rubavu woman who produces lubricants from indigenous plant

When Asinatha Uwineza, a mother of three from Nyamyumba Sector of Rubavu District dropped out of secondary school in 2012, she did not think she would have a stable career. To make ends meet, she gathered her small savings and contributions from friends to start up a small shop around her...

Tuesday, May 22, 2018 - 5:43am

EBM Version 2 uptake on the rise, says RRA

Following the introduction of the EBM Version 2, which is supposed to replace the Electronic Billing Machines, city taxpayers are fast embracing the internet based software that is  being offered to all VAT registered taxpayers. The software, dubbed EBM Version 2, will replace the gadgets...

Tuesday, May 22, 2018 - 5:43am

African governments demand more from mining

For nearly six hours senior mining executives met privately with President Joseph Kabila in Kinshasa to debate the controversial mining code proposed for the Democratic Republic of Congo (DRC). Heads of industry giants like Glencore, Ivanhoe and China Molybdenum had all flown in for the meeting....

Tuesday, May 22, 2018 - 5:37am

Architect of CFTA: No way Nigeria will abandon trade pact

The African Continental Free Trade Area (CFTA) summit held in Kigali, Rwanda in March 2018 was supposed to be the culmination of former Ghanaian President Kwame Nkrumah’s dream of a truly united Africa. The CFTA, which was drafted in Niger in December 2017, envisages a trade area across the...

Tuesday, May 22, 2018 - 5:31am

How can agric be made attractive to the youth?

Agricultural experts have called for new measures to engage the Rwandan youth in agriculture transformation to help meet national food demand considering that young people in the country have historically shunned the sector.  According to Dr Charles Bucagu, the Deputy Director General in...

Tuesday, May 22, 2018 - 5:25am

Rwanda, Ghana sign air service agreement

The governments of Rwanda and Ghana on Monday signed a Bilateral Air Service Agreement (BASA) liberalizing commercial flights between the two countries. The agreement was signed between Rwanda’s Minister of State in charge of Transport, Eng. Jean De Dieu Uwihanganye and the Minister for...

Monday, May 21, 2018 - 5:58pm

Rwanda to get first fin-tech hub

Rwanda will soon be home to a hub for financial technology (Fintech), boosting start-ups in the sector. As part of this effort, a French Fintechfirm is in the process of setting up shop in Rwanda, The New Times has learnt. Joelle Durieux, the Chief Executive Officer of Finance Innovation, a...

Monday, May 21, 2018 - 12:34pm

How to turn that hobby into a thriving business

Do you have a hobby that people line up for to buy from you? If so, you really could create a profitable business. Hobbies that could potentially be monetised and turned into businesses include painting, woodworking, baking, web design, dog training -- literally anything that provides value to...

Sunday, May 20, 2018 - 2:54am

Ethiopia ready to ratify Africa free trade deal after Kenya, Ghana – PM

Prime Minister of Ethiopia Abiy Ahmed, has stated that the government is ready to ratify the African Continental Free Trade Area (AfCFTA) deal and deposit its instruments to the African Union. Ethiopia he said was ready to follow the move by Ghana and neighbouring Kenya – who became the...

Saturday, May 19, 2018 - 2:36am

Cambridge analytica files for bankruptcy in U.S. following Facebook debacle

Cambridge Analytica, the political consultancy at the center of Facebook Inc’s (FB.O) privacy scandal, filed for Chapter 7 bankruptcy in the United States late on Thursday. This past March allegations surfaced that Cambridge Analytica, hired by President Donald Trump’s 2016 U.S....

Saturday, May 19, 2018 - 2:30am

Airbus loses ground in bid to sell jets to United

Airbus’s hopes of winning an immediate respite from slow sales of its A330neo jetliner with an order from United Airlines are dwindling, leaving a gap in future production weeks before it is due to enter service, industry sources said on Friday. Airbus has been competing with Boeing to...

Saturday, May 19, 2018 - 2:30am