Business

Capturing Africa’s high returns

Over the next 12 years, Africa's expanding population and strong economic growth across globally competitive sectors could translate into especially high returns for investors. If Western firms do not step in to meet the consumer demand of Africa's growing middle class, their Chinese...

Tuesday, April 10, 2018 - 1:45am

Rwanda’s SafeMotos to expand to DR Congo

Rwanda-based motorcycle taxi app SafeMotos is set to expand to the Democratic Republic of Congo later this year as it targets large, underserved markets to boost its growth.  Launched in Rwanda in 2015, SafeMotos is an Uber-style app designed to make the motorcycle taxi industry more...

Tuesday, April 10, 2018 - 1:42am

IATA launches certification programme to improve safety of animals travelling by air

The International Air Transport Association (IATA) has launched a new standardized global certification program to improve the safety and welfare of animals travelling by air. The Center of Excellence for Independent Validators for Live Animals Logistics (CEIV Live Animals) provides stakeholders...

Tuesday, April 10, 2018 - 1:39am

U.S. vintners fear potential pushback from Chinese consumers

SAN FRANCISCO – Despite the short term negative effects of sales, U.S. vintners are concerned about the potential backlash from Chinese consumers, said Michael Parr, vice president of international sales for Wente Family Estates, on Sunday. The escalation of the tariff battle between the...

Tuesday, April 10, 2018 - 1:39am

Nissan eyes bigger East African market

Nissan Motor plans to start assembling vehicles in Kenya, bolstering plans to develop a regional auto-manufacturing hub in East Africa’s biggest economy. The Japanese automaker is the latest to target Kenya after Volkswagen AG, PSA Peugeot and CNH Industrial NV announced plans for assembly...

Tuesday, April 10, 2018 - 1:39am

Stakeholders upbeat as RNIT Iterambere Fund posts strong performance

Recent strong performance by Rwanda National Investment Trust (RNIT) has led to increased shareholder confidence in the Fund. RNIT Iterambere Fund grew to Rwf1.530 billion in February, up from Rwf1.476 billion in January, according to the Fund’s performance report.  It registered an...

Monday, April 9, 2018 - 1:57am

Facebook suspends AIQ data firm used in Brexit campaign

Facebook has suspended a Canadian data firm that played a key role in the campaign for the UK to leave the EU. The social media giant said AggregateIQ (AIQ) may have improperly received users' data. It cites reported links with the parent company of Cambridge Analytica (CA), the consultancy...

Monday, April 9, 2018 - 1:55am

PSF, standards board ink deal to facilitate businesses

The Private Sector Federation has signed a partnership agreement with Rwanda Standards Board to enhance standardisation of local products and services to boost their competitiveness globally. The deal was signed by PSF chief executive Stephen Ruzibiza and RSB director-general Raymond Murenzi. It...

Friday, April 6, 2018 - 10:46pm

Crystal Telecom projects improved performance

There is a lot of optimism among Crystal Telecom shareholders who are likely to receive a dividend payout this year after missing out last year as funds went into paying the $8.5 million fine by Rwanda Utilities Regulatory Authority (RURA). The fine was paid in full last year with funds that would...

Friday, April 6, 2018 - 10:41pm

Facebook, Carnegie Mellon University in joint effort to tackle cybercrime

With cybercrime increasingly becoming a major threat both in Rwanda and globally, social media firm Facebook and Carnegie Mellon University Africa have joined hands to devise viable solutions to the problem. Rwanda hosts the Carnegie Mellon University (CMU) Africa campus. The two entities...

Friday, April 6, 2018 - 12:00am

Karusisi to remain at helm of BK Group

Diane Karusisi will continue to serve as the head of BK Group PLC, The New Times has learned. Karusisi is also the Chief Executive Officer of Bank of Kigali Ltd, a subsidiary of the Group. BK Group PLC was formed in December. Under the new structure, the Group operates as an investment company...

Thursday, April 5, 2018 - 8:03pm

BRD, saving coops ink deals to accelerate rural electrification

Citizens and small businesses from different parts of the country working with community Savings and Credit Cooperatives (SACCOs) will soon be able to access affordable finance to purchase solar energy equipment. This follows agreements entered between Rwanda Development Bank (BRD) and different...

Thursday, April 5, 2018 - 1:19pm

Zipline introduces faster drone model

Zipline Inc, a California-based robotics firm which operates delivery of blood supplies to remote areas in Rwanda, has developed the fastest commercial delivery drone, it said. The new model, which the firm says has a top speed of about 128km per hour, is set to improve the efficiency of local...

Thursday, April 5, 2018 - 12:14am

How technology is transforming Africa’s financial sector

The pace of adoption of emerging technologies across regional countries has increased in recent years consequently impacting lives of end users. For instance, Emmanuel who resides in Nyabugogo, a Kigali suburb, is able to pay for food at the market as well as moto fare via his mobile phone. This...

Tuesday, April 3, 2018 - 9:36am

Rwandans urged to leverage green climate funding facility

Do you have an environmentally conscious project and are short of funding? The Green Climate Fund is looking for such projects to fund in an effort to support the country’s climate resilience ambitions. Local environmental players have been advised to develop environment conscious projects...

Tuesday, April 3, 2018 - 12:29am

Over 1,600 exhibitors apply to attend China import expo

SHANGHAI – More than 1,600 companies from over 120 countries and regions have applied to attend the China International Import Expo to be held in Shanghai in November. Over 600 applicants have signed contracts for the expo, set to occupy a display area of more than 120,000 square meters, the...

Tuesday, April 3, 2018 - 12:25am

Ignition time for Africa’s auto sector

Take a journey through any African city and it’s clear that the continent is permanently on the move. Minibuses crammed with commuters weave manically through traffic, pickup trucks overflow perilously with construction workers, and decades-old Japanese taxis spew diesel fumes among...

Tuesday, April 3, 2018 - 12:21am

Beijing Benz to recall automobiles over faulty airbag

BEIJING – Beijing Benz Automotive Co., Ltd. will recall 4,152 Chrysler 300C vehicles in China due to defective airbags, according to China's top quality watchdog. The recall is for 2006 and 2007 models of Chrysler 300C vehicles manufactured between Sept. 11, 2006 and April 16, 2008, said...

Tuesday, April 3, 2018 - 12:19am

Regional business council upbeat on CFTA

The East African Community (EAC) stands to benefit from the recently unveiled African free trade area if it consolidates its internal market, according to the East African Business Council (EABC). “Failure to remove trade impediments means that our bloc will remain weakened,” EABC...

Monday, April 2, 2018 - 12:43am

Tanzania mulls banning plastic materials

Tanzania is still weighing the impact of the envisaged ban on the use of polythene materials before effecting it. The country’s minister for State responsible for Union Affairs and Environment, January Makamba, said that the authorities were concerned over the likely massive loss of jobs....

Monday, April 2, 2018 - 12:40am