Business

Are Rwanda’s tax incentives good for the economy?

Rwanda’s tax incentives are probably too generous and risk being unsustainable in the long run, finance experts from the International Monetary Fund (IMF) said yesterday. According to the IMF, the tax-based incentives are important to attract investors, however, in the long run, such...

Friday, June 22, 2018 - 12:41am

BRD, Swedish body in $50m deal to boost energy sector

The Swedish International Development Cooperation Agency (Sida) and the Development Bank of Rwanda (BRD) have signed two energy agreements guarantees that will see the bank lending to energy sector investors. The signing ceremony was held Thursday at BRD headquarters between the Head of...

Friday, June 22, 2018 - 12:15am

Tax incentives to boost industry in EAC

EAC countries have turned to tax incentives in a bid to boost industralisation. Finance ministers from Kenya Uganda, Rwanda and Tanzania all presented their budgets on Thursday last week. The four countries also had one common theme; ‘Industrialisation for Job Creation and Shared Prosperity...

Thursday, June 21, 2018 - 10:34am

South Africa proposes 5% black ownership in mining firms

South Africa plans to raise black ownership at permit-holding mining companies to 30 percent from 26 percent within five years, the latest draft of a hotly-contested new industry charter showed on Friday. The government and miners had been at loggerheads over a previous version of the charter,...

Wednesday, June 20, 2018 - 8:26pm

Israeli investor to construct up to 10,000 housing units

Rwanda Development Board (RDB) on Monday signed a Memorandum of Understanding (MoU) with Mitrelli Group, an Israeli conglomerate that specialises in large-scale long-term projects. Mitrelli Group is seeking to develop up to 10,000 housing units in Rwanda with a majority of them under the...

Tuesday, June 19, 2018 - 9:56pm

VW names interim Audi boss, seeking to steady brand after CEO arrest

Volkswagen suspended Audi boss Rupert Stadler and announced an interim replacement on Tuesday, seeking to steady its most profitable business after German authorities arrested Stadler as part of an emissions probe. Audi said Stadler, 55, had requested to temporarily step down from his position,...

Tuesday, June 19, 2018 - 9:54pm

Salma Ingabire appointed new Visa Country Manager

Visa (Visa Inc), a global payments technology company has appointed Salma Ingabire as its representative in Rwanda, replacing Lucy Mbabazi who was previously representing the firm in Rwanda, Burundi and Malawi. Ingabire will be representing the company in Rwanda. She has been serving as a Chief...

Tuesday, June 19, 2018 - 3:09pm

Irish potato farmers upbeat as government moves to address seed shortage

Irish potato farmers from Northern Province can breathe a sigh of relief as the government is stepping in to establish  modern seed potato warehouses and greenhouse to address the existing gap in the supply of seeds. The Ministry of Agriculture and partners have pledged to establish modern...

Tuesday, June 19, 2018 - 9:57am

Why micro-finance institutions must have consumer protection policies

The association of Microfinance Institutions in Rwanda (AMIR) has urged key sector players to design appropriate products to improve consumer protection and reduce losses both clients and financial institutions. According to Jackson Kwikiriza, Senior Programme Manager at the Association of...

Monday, June 18, 2018 - 10:10pm

Budget 2018/19: Govt moves to reduce revenue leakage

Firms will now pay more taxes following a new regime that caps tax deductibles at 2 per cent of the turnover. The new tax regime is part of the measures geared towards closing loopholes and enabling the government to raise more domestic revenue. The deductions on taxable income include management...

Monday, June 18, 2018 - 9:45pm

COMESA searching for solutions to transform and sustain competitive businesses

The COMESA Connect Industry Dialogue set for June 21st to 22th, in Kigali, will bring together high level technical expertise from the public and private sector to provide common solutions that will prepare, protect, revolutionize and sustain competitive businesses, organizers say. Formed in...

Monday, June 18, 2018 - 9:29pm

Banking through Mobile Money Technology in Africa

Expansion of mobile phone usage expanded opportunities to bank the unbanked population. With mobile banking, low-income people no longer need to use scarce time and financial resources to travel to distant bank branches. Since mobile banking transactions cost far less to process than transactions...

Monday, June 18, 2018 - 9:25pm

[FEATURED]: MTN’s “21 days of Y’ello care” reaches Murama School

Students of Groupe Scolaire Muramba were the beneficiaries of MTN’s “21 days of Yello Care”, an annual drive where the Telcom operator gives back to the community. The school, located in Rwamagana district received a massive water tank with a capacity of 10,000 litres. With...

Monday, June 18, 2018 - 1:01pm

CrimsonLogic sets up African hub in Rwanda

To increase their footprint in Africa, CrimsonLogic, a partner of  RwandaOnline Platform Limited (ROPL) and a leading provider of eGovernment products and services, has opened a local office in Kigali. With its headquarters in Singapore, the office will become the firm’s regional hub...

Monday, June 18, 2018 - 8:56am

German court says investors can seek redress from Porsche in Volswagen case

A German court ruled on Friday that investors pushing for damages over a sharp fall in Volkswagen shares after the carmaker disclosed emissions cheating in 2015 can also seek redress from majority shareholder Porsche SE. Investors from around the world have lodged lawsuits at a regional court in...

Saturday, June 16, 2018 - 12:39am

Trump sets $50 billion in China tariffs

U.S. President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind, in a move that looks set to ignite a trade war between the world’s two largest economies. Trump, whose hardline stance on trade has led him to wrangle...

Saturday, June 16, 2018 - 12:33am

South Sudan’s cabinet passes $63 million budget for 2018/19

South Sudan’scabinet adopted on Thursday a budget of 81.6 billion South Sudanese pounds ($62 million) for the 2018-19 fiscal year, an increase of 75 per cent from the previous period, the government said. More than four years of civil war have destroyed South Sudan’s economy. Inflation...

Friday, June 15, 2018 - 12:13am

FEATURED: Trust Industries upgrades production to promote ‘Made-in-Rwanda’

Trust Industries is set to give its competitors -that include mostly foreign brands- a run for their money after completing installation works on what is now a fully-fledged bar soap semi-automated production line at the Kanzenze, Nyamata, based plant. Since diversifying into manufacturing in 2012...

Thursday, June 14, 2018 - 12:27pm

RDB to shut down discriminatory businesses

The Rwanda Development Board has issued a stern warning to tourism operators and service sector players that they risk being shut down if found to be discriminatory. The warning specifically targets entities including restaurants, nightclubs, tour operators, guides and hotels. Closure of a...

Thursday, June 14, 2018 - 11:56am

Rwanda coffee to be showcased at the World of Coffee exhibition in Amsterdam

Rwandan coffee will be showcased at the World of Coffee exhibition in Amsterdam, The Netherlands from June 21 to- 23, the National Agricultural Export Development Board (NAEB) has confirmed. The World of Coffee exhibition is Europe’s largest coffee gathering and one of the world’s...

Thursday, June 14, 2018 - 8:31am