Business

SONARWA chief blames low life insurance subscription on awareness

Low penetration of life insurance in the Rwandan market is largely due to low levels of awareness on the need for insurance, Sonarwa Life’s Managing Director, Aurore Mimosa Munyangaju, has said. Munyangaju was speaking at the launch of a two-day capacity building workshop of Insurance Agents...

Wednesday, April 25, 2018 - 10:02pm

Marriott International tops Africa hotel growth ranking

By Times Reporter   Marriott International tops this year’s table for the most planned new hotel rooms under construction in Africa, according to the influential annual hotel pipeline survey by W Hospitality Group.   Details of the report will be one of the key discussions at...

Wednesday, April 25, 2018 - 9:59pm

Bralirwa after-tax profit up by over 260%

Shareholders of Bralirwa are set to see an increase in earnings of their shares after the firm registered an after tax profit of 263.3 per cent in 2017. The firm, which is Rwanda’s oldest brewery, announced that their after tax income had gone up from Rwf 1.4 billion in 2016 to Rwf 5 billion...

Wednesday, April 25, 2018 - 10:33am

How Rwanda’s largest climate resilience investment is taking shape

Weather related disasters such as flooding and landslides affecting the livelihoods of residents of Gicumbi District, Northern Province could soon be curbed following the launch of a $32.8m initiative funded by the Green Climate Fund. The initiative is a partnership with the Ministry of...

Tuesday, April 24, 2018 - 12:25am

Nakumatt’s financial woes spread to its Rwanda operations

Regional retailer Nakumatt Holdings has been going through financial problems for the past two years, making it difficult for the retail chain to pay pending debts to its creditors. It has now emerged that Nakumatt Rwanda whose managers have previously claimed that the Kigali chain had been...

Tuesday, April 24, 2018 - 12:18am

China-Africa summit could open for future investments, officials

Earlier this year, Chinese Foreign Minister Wang Yi was in the country and, among other engagements, was to invite Rwanda to take part in the upcoming Forum on China-Africa Cooperation (FOCAC) summit to be held in Beijing this year. Rwanda accepted the invitation to the forum, which is among the...

Tuesday, April 24, 2018 - 12:14am

Top Tigo Rwanda executive defects to MTN Rwanda

MTN Rwanda has appointed Chantal Umutoni Kagame as the new Chief Business and Corporate Affairs Officer. Kagame was until recently the deputy Chief Executive Officer of Tigo Rwanda which was recently acquired by Bharti Airtel Ltd. She had served in that post since June 2015. Officials at MTN...

Tuesday, April 24, 2018 - 12:09am

Can African tech startups succeed in a world dominated by Facebook and Google?

Last year Facebook became the second largest e-commerce company in Africa after Jumia, the industry leader. The American social media giant did not celebrate that feat, though, because it never promoted itself as an e-commerce firm. But as global technology brands penetrate African economies, it is...

Tuesday, April 24, 2018 - 12:06am

IMF chief calls on U.S., China to resolve trade tensions through rules-based multilateral institutions

WASHINGTON – Christine Lagarde, managing director of the International Monetary Fund (IMF), Saturday called on the United States and China to resolve trade tensions through rules-based multilateral institutions. At a press conference after concluding a meeting of the International Monetary...

Monday, April 23, 2018 - 11:51pm

Mo Ibrahim Foundation releases report on state of Africa’s public services

A report on the state of public services in Africa has just been released by the Mo Ibrahim Foundation. And its findings are a damning indictment of the failure by the African leadership to deliver on some of the continent’s most pressing areas for development. The 128-page report will be a...

Monday, April 23, 2018 - 8:39am

New case opened against Facebook

Facebook’s attempt to limit fallout from a massive data breach hit trouble in Germany on Friday as a privacy watchdog opened a case against the social network and politicians accused its bosses of evasion. The social network has been at the center of controversy over suspected Russian...

Saturday, April 21, 2018 - 12:26am

Britain to ban sale of plastic straws, urges Commonwealth action

Britain plans to ban the sale of plastic straws and other single use products The UK is also pressing Commonwealth allies to also take action to tackle marine waste, the office of Britain’s Prime Minister Theresa May said. May has pledged to eradicate avoidable plastic waste by 2042 as part...

Saturday, April 21, 2018 - 12:23am

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