Business

Entrepreneur’s tales: Closing food shop to start a shoe making plant

Entrepreneurship is not always as rosy as it often appears. Often, it requires one to walk away from a venture that is not as profitable or that is leading to losses.  That is the story of 52-year-old Xavera Mamamukali of Kicukiro District. After years of running a food shop in her...

Tuesday, August 7, 2018 - 12:25am

We need a wholesale approach to infrastructure investments – AfDB

In 2017 the African Development Bank (AfDB) made disbursements of $6.7bn, the most it has made in a single year. Over the past 10 years, says Pierre Guislain, vice president of the bank’s, private sector, infrastructure and industrialisation department, it has funded over $33bn of...

Tuesday, August 7, 2018 - 12:08am

Agro-processing is the sector that will provide jobs – Carlos Lopes

Carlos Lopes, the former executive secretary of the United Nations Economic Commission for Africa gave insights on ways African, can learn from South Korea’s development path ways to create more jobs in the continent measurement of growth and gains. What can we learn from South Korea’s...

Tuesday, August 7, 2018 - 12:07am

Swiss’ Fracht Group launches logistics operations Rwanda

Swiss firm Fracht Group has opened a logistics services in Rwanda that will accommodate its main operations for the East African Region. The company, which was founded in 1955 in Switzerland, currently has over 1,250 employees in 34 countries with 93. The company works to provide innovative,...

Monday, August 6, 2018 - 1:27am

Race is on for second place after Apple's $1 trillion valuation

Amazon, Microsoft and Alphabet are locked in a tight race to become the second publicly-listed U.S company to reach a $1 trillion stock market value after Apple became the first to touch the 13-digit milestone. Wall Street’s optimism about last year’s 10th anniversary iPhone, coupled...

Monday, August 6, 2018 - 12:47am

China Eastern, Japan Airlines team up to tap Chinese tourism boom

China Eastern Airlines Corp Ltd, and Japan Airlines Co Ltd on Thursday, said they would form a joint venture (JV) to capitalise on a boom in Chinese tourism, in the first such deal between a Chinese and Japanese carrier. The pair, which already has a code sharing agreement, said the venture will...

Friday, August 3, 2018 - 11:16pm

Kenya’s Mombasa-Nairobi rail service to break even by 2020

A $3.8 billion railway project linking Kenya’s largest port Mombasa and the capital Nairobi is doing well, and the railway will reach the break-even point by 2020, an employee of State-owned China Communication Construction Corp (CCCC) has said recently. The comment came after some foreign...

Friday, August 3, 2018 - 11:12pm

Airtel-Tigo to pay Rwf120 million in interest to mobile money subscribers

Airtel-Tigo customers who deposit on the telecom’s financial platforms will from this quarter onwards be paid interest on funds held on their Airtel Money and Tigo Cash wallets on a daily basis. The development comes after the National Bank of Rwanda (BNR) gave a greenlight to the telecom...

Thursday, August 2, 2018 - 11:29pm

EAC mobilises resources for clean energy projects

The East African Community (EAC) is mobilising funds for renewable energy projects which can lead to the reduction of firewood and charcoal use by 50 per cent. The new drive would start with formulation of the Regional Renewable Energy Master plan alongside with energy efficiency and conservation...

Thursday, August 2, 2018 - 11:27pm

Hotels face stiff competition from Airbnb

Airbnb, an international marketplace for rental accommodation, is fast growing in popularity in comparison to the traditional hotels model. The platform allows ordinary people to rent out extra space in their homes to visitors and tourists. The platform is growing in popularity in Rwanda...

Thursday, August 2, 2018 - 9:58am

Expo: Foreign firms keen to set up shop in Rwanda

Many foreign firms taking part in the ongoing 2018 Rwanda International Trade Fair have expressed interest in registering their business in the country, it has emerged. Business Times has established that hardly a week after the opening of the three-week exhibition, eight foreign...

Thursday, August 2, 2018 - 9:50am

Eritrea, Nigeria, G-Bissau yet to commit to Africa free trade deal

Africa’s most populous nation and biggest economy, Nigeria, Eritrea and Guinea Bissau are the only African nations that are yet to make any commitment to the African Union’s Continental Free Trade Area (AfCFTA). According to the A.U. Commission chairperson, Moussa Faki Mahamat,...

Wednesday, August 1, 2018 - 10:59pm

Five unique products at the Expo 2018

Over 500 business entities from 23 countries are attending the expo taking place at Gikondo Expo Ground from July 26 to August 15. On display at this year’s Kigali International Trade Fair, commonly known as Expo, is a variety of products from Rwanda as well as foreign goods. We bring...

Wednesday, August 1, 2018 - 9:52am

Kenya projects economic growth by 6.2% in 2018

Kenya’s economy is likely to expand by 6.2 per cent this year, the country’s central bank’s governor said on Tuesday. This offers a rosier outlook than the country’s Finance Ministry, which expects growth of 5.8 per cent. The East African economy expanded by 5.7 per cent...

Wednesday, August 1, 2018 - 9:32am

Samsung Electronics profit growth slows as Galaxy S9 misses sales targets

Samsung Electronics posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market. The Apple Inc components supplier and smartphone rival said operating...

Wednesday, August 1, 2018 - 9:29am

CFTA to benefit entire continent, economists say

The Economic Commission for Africa has said that the entire continent stands to gain much more from AfCFTA than it benefits from other trading arrangements with regions outside the continent. The statements were made during a policy dialogue to discuss the African Continental Free Trade Area (...

Tuesday, July 31, 2018 - 10:47am

Local farmers lose 30% in post-harvest processes

Rwanda Agricultural Export Development Board (NAEB) has urged vegetable and fruits farmers to adopt the use of modern farming techniques and technologies for reducing post-harvest losses. The call is founded on post-harvest loss assessment of different crops such as tomatoes, pepper, bananas,...

Tuesday, July 31, 2018 - 10:47am

Why finance graduate chose pig farming

Peter Dukundane is a farmer who rears pigs. He, however, learnt the skill through self-training online to get started. The 24-year-old who is based in Musanze District is also a finance graduate. After school, he set out to start his own business, choosing farming. Despite the challenges...

Tuesday, July 31, 2018 - 10:42am

Inside Rwanda, China bilateral agreements

Rwanda and China last week signed 15 bilateral memorandum of understanding (MoUs) and agreements during China’s President Xi Jinping’s state visit to Rwanda. The signing ceremony was one of the major highlights of Xi’s two-day visit. Here is what some of these agreements...

Tuesday, July 31, 2018 - 10:34am

CNBC’s Georgie Ndirangu moves to BBC

CNBC Africa has lost one of its top presenters and producers to BBC Africa. Georgie Ndirangu till recently served as presenter and producer at CNBC Africa satellite office broadcasting out of Kigali. The youthful presenter will soon debut on BBC Africa, according to reports reaching The...

Tuesday, July 31, 2018 - 9:53am