S. African firm gets Nyungwe forest deal


The Nyungwe National Forest concessionaire will set up factories to process timber locally to boost the construction sector. The company will also set up two energy and infrastructure industries.

Insurance firms in panic as new entrants join market


The entry of foreign insurance firms into the local market is keeping indegenous companies on their toes as they try to devise means to keep clients and attract new ones.

Hawkers worry Nyarugenge market traders


The increasing number of hawkers in Biryogo, Nyarugenge District is worrying market traders, who are calling on the authorities to evict them from the streets.

South Sudan restarts oil production

JUBA – South Sudan has restarted oil production, more than a year after it was halted by disputes with its neighbour Sudan.

Akanyaru gets one-stop customs border post


Local and regional traders using the Akanyaru customs post on the Rwanda/Burundi border will no longer spend a lot of time once the construction of a one-stop customs centre is...

Uganda wins $434m oil tax case against Heritage Oil

London –Uganda has won a landmark $434m oil tax case in London against Heritage Oil and Gas.A three-member arbitration team ruled against the three core tax claims by Heritage, which...

Kenya central bank to compel banks to disclose shareholders


Nairobi – The Central Bank of Kenya is seeking powers to compel holding companies of banks to disclose the identity of their true owners, including nominees.

Poor people are better money managers– survey

Rwandans with less access to finance, especially the poor, are better money managers, a study by Visa and Access to Finance Rwanda has indicated.

Mobile phones have enhanced access to services, says ICT minister

Increased use of mobile phones has improved access to services and boosted the economy, the Youth and ICT Minister, Jean-Philbert Nsengimana, has said.

Tigo launches new BlackBerry internet plan promotion

Tigo has unveiled a new promotion where subscribers who activate their BlackBerry Internet Services (BIS) plan will be rewarded with a complimentary subscription of the equivalent value.

Foreign capital inflows increase to Rwf226b


Rwanda received $357m (Rwf226.4b) foreign private capital inflows in 2011, an increase of over 4 per cent compared to $343m (Rwf217.5b) recorded in 2010.

Kenya looks for economic peace reward after calm vote


Nairobi – Kenya’s tourism industry may be a swift winner from the election of Uhuru Kenyatta, owner of hotels and a vast business empire, as East Africa’s biggest economy seeks...

Bank of Kigali introduces an e-commerce gateway


Bank of Kigali attained an e-payment gateway from iVeri Payment Technologies, making it the first bank in Rwanda to use e-commerce merchant transactions viewed as important in evolving business environment.

Microfinance institutions call for review of tax laws


For the past two years or so, the microfinance sector has been calling for industry-friendly laws, arguing that their services help the most needy citizens, besides supporting the government’s efforts...

Girinka programme to get 500 exotic cattle


Rwanda milk production could double by the end of 2014 following government efforts to give farmers dairy cattle. Already, it has finalised plans to import 500 exotic heifers from Holland...

WHO calls for heavy taxes on tobacco products

The east African Community (EAC) governments should increase taxes on tobacco products to discourage smoking.

Eastern Province genocide widows get exotic heifers


Genocide widows from Rwamagana and Kayonza districts in the Eastern Province have received 35 exotic heifers from the MSAAD project in Ireland.

Bank of Kigali to pay about Rwf6 billion in dividends


The Bank of Kigali shareholders will share a total dividend payout of Rwf5.9b for 2012, James Gatera, the Bank of Kigali chief executive officer, said.

15,000 attend Rwanda trade fair in Burundi


Over 15,000 showgoers braved bad weather to attend the just-concluded Rwanda Business Week exhibition in Bujunbura, Burundi.

Revenue body moves to streamline VAT collection

The rwanda Revenue Authority (RRA) has launched the first phase of the value added tax (VAT) electronic billing scheme, saying it was a major step towards combating tax evasion and...

RwandAir acquires aircraft, to start two new routes

RwandAir has acquired two Boeing 737-700NG aircraft to boost its fleet. Robert Nsinga, the RwandAir senior marketing manager, told The New Times yesterday that the two Boeing 737-700NG planes would...

Private sector roots for free movement of labour

The east African Community (EAC) partner states should expedite implementation of free movement of labour to spur trade and other economic activities, especially in the service industry, the private sector...

Minister tips ICT industry to drive growth


The growth of information communication technologies will increase employment and boost the country’s competitiveness and economic growth overtime,” Jean Philbert Nsengimana, the youth and ICT minister, has said.

Uganda sees improved coffee output next season

Kampala – Heavy rains in Uganda are expected to produce a rich coffee harvest between June and September and could see the country beat its export forecast of three million...