Business

RRA seeks additional budget for value added tax refunds

Rwanda Revenue Authority (RRA) is seeking a supplementary budget to be able to make value added tax refunds, which have been pending and accumulating over time. This comes at a time when a section of large taxpayers have expressed concern over delays by the revenue body to pay back refunds which...

Friday, April 20, 2018 - 10:27am

East Africa growth prospects strong – World Bank report

Economic growth in Africa rebounded, but “not fast enough” in recent past, according to Africa’s Pulse, a bi-annual analysis of the state of African economies conducted by the World Bank, released on Wednesday in Washington. The report, which was released during the World Bank...

Thursday, April 19, 2018 - 2:42pm

TMEA commits $1.05m for regional infrastructure initiative

TradeMark East Africa (TMEA) and the Northern Corridor Transit and Transport Coordination Authority (NCTTCA) yesterday signed a financing agreement worth US$ 1.05 million.TMEA will disburse the money to the NCTTFA secretariat over a 3-year period (2018 – 2021). Funding will enable the agency...

Wednesday, April 18, 2018 - 3:51pm

Jack Ma’s Africa fellowship second intake application on

Rwandan entrepreneurs whose startups are based in the technology space can be part of this year’s edition of eFounders Fellowship, a brainchild of Chinese billionaire and founder of Alibaba Group, Jack Ma. The fellowship, co-organised by the United Nations Conference on Trade and Development...

Tuesday, April 17, 2018 - 9:54pm

Nyamirambo artisan shapes future of needy youth with leather-making skills

A chance encounter with an Israeli soldier stationed at Kanombe introduced Juvenal Gatorano to the art of leather production. That was in 1965, when the then 18-year-old first tried his hand at making shoes. Gatorano says the chance encounter with the soldier, one Colonel Baram, who was based at...

Tuesday, April 17, 2018 - 11:40am

Mukareta: A former peasant turned coffee millionaire

The life of Francine Mukareta and Vincent Bakundukize was characterised by subsistence farming 10 years ago. The couple from Huye District lived from hand to mouth with no savings or investments to their name. However, all this was to change after Mukareta mooted the idea of growing coffee on part...

Tuesday, April 17, 2018 - 11:36am

Why maize flour prices are going up

Are you a lover of maize meal? Or do you enjoy that hot and refreshing cup of porridge? Well, you will have to dig deeper into your pockets following increase in maize flour prices over the past few weeks countrywide. According to a mini-survey by The New Times, prices of various brands of locally...

Tuesday, April 17, 2018 - 11:34am

How Huye businessman is reaping millions from growing grapes, making juice

When one talks about grapes, many people most likely envision them (grapes) in Catholic Church compound or garden. Besides, for many, growing grapes is still considered as an activity for nuns in some convent somewhere in the countryside. However, one businessman cum farmer in Huye District is out...

Tuesday, April 17, 2018 - 11:32am

How tea growing is transforming lives of rural women in Nyamagabe

It’s a beehive of activity as a group women move back and forth ferrying bags of freshly picked green leaf tea from their plantations onto a waiting delivery truck. The tea growers seem unfazed by the mildly hot mid-morning weather on this sunny Tuesday morning. Speciose Uwimana, one of the...

Tuesday, April 17, 2018 - 11:23am

23-year-old entrepreneur building wide reaching tech enterprise

A 23-year-old ICT graduate from University of Rwanda, Bovine Ishemaryayo, recently designed and launched a software dubbed ‘e-Saving’ that seeks to help vulnerable youth, especially those in rural areas to save in Savings and Credit Cooperatives (SACCOs). The initiative targets youth...

Tuesday, April 17, 2018 - 2:48am

Survivors association achieving self-reliance through agri-business

The Association of Student survivors of Genocide against the Tutsi (AERG) has over the years improved their self-reliance by making use of a 120-hectare farm in Karangazi Sector in Nyagatare District. The plot of land in Eastern Province is a gift to the association from President Paul Kagame to...

Tuesday, April 17, 2018 - 2:42am

The African free trade dividend

Africa’s increasing integration has been much talked about over the past couple of weeks. The progress displayed on this project is one for which Africa’s political leadership deserves praise, and is one of the most significant developments on the continent for many years. Africa...

Tuesday, April 17, 2018 - 2:30am

KCB Rwanda donates equipment to AVEGA-Agahozo health centre

KCB Bank Rwanda, over the weekend, donated high-tech medical equipment to the AVEGA health centre in Rwamagana District. AVEGA-Agahozo is an association of Genocide widows. The support, valued at Rwf5 million, aims at supporting treatment of patients at the facility. The biochemistry medical...

Monday, April 16, 2018 - 2:48am

Africa, Asia to take strong stand on energy

Africa and Asian countries are expected to take a strong stand on energy at the World Bank/International Monetary Fund (IMF) spring meetings in Washington, next week. They would be pushing for the Bretton Wood Institution to change the position that it would not officially be funding coal-fired...

Monday, April 16, 2018 - 2:47am

AfDB, export trading group sign $100m loan agreement

The African Development Bank has signed a loan agreement for a soft commodity finance facility (SCFF) with the Export Trading Group (ETC). This Facility is structured as two successive loans of $100 million, each with a tenor of up to 2 years, thus signifying the African Development Bank’s...

Friday, April 13, 2018 - 11:01pm

Global tech firms team up to eliminate wildlife sales

A coalition of companies in technology industry has agreed to render online platforms and apps inoperable for wildlife traffickers to trade in endangered species. A group of e-commerce, technology and social media firms globally, will work with World Wildlife Fund (WWF), Traffic International and...

Friday, April 13, 2018 - 11:01pm

What’s holding back deployment of solar energy in Africa?

Solar power is often touted as the obvious solution for the 600 million Africans who live without electricity. But some of the biggest solar power-focused businesses on the continent say some bumps remain on the way to large-scale deployment of solar power either as an alternative to or complement...

Friday, April 13, 2018 - 12:00am

Google releases new Africa app to beat slow internet speeds

Google is releasing an app in Africa that will help internet users overcome obstacles such as the lack of high-speed connectivity and the cost of data on the continent. The release of Google Go is the U.S. technology giant’s latest attempt to extend its reach into emerging markets such as...

Friday, April 13, 2018 - 12:00am

Zimbabwe seeks to replicate RDB model

Zimbabwe is seeking to replicate Rwanda Development Board’s model to set up its own one-stop investment promotion agency, Business Times understands. As such, Harare invited Rwanda to help with the process. Subsequently, Zimbabwe’s President Emmerson Mnangagwa invited RDB chief...

Wednesday, April 11, 2018 - 11:01pm

RDB named among top investment promotion agencies in the region

Rwanda Development Board was on Monday night feted as one of the eastern Africa’s best investment promotion agencies at an annual investment meeting conference in Dubai, United Arab Emirates. The Annual Investment Meeting is a Foreign Direct Investment summit bringing together investors,...

Wednesday, April 11, 2018 - 12:55am