Business

I&M Bank cuts base lending rate to reduce clients’ loan burden

I&M Bank Rwanda clients are set to have some relief on their loan repayment burden as the lender has reduced its base lending rate from 16.5 per cent to 16 per cent. Base lending rate is initial interest rates that a lender has internally before setting the commercial interest rate for...

Friday, April 10, 2020 - 12:12am

How the tourism industry can recover post COVID-19

The tourism sector is one of the most affected economic aspects by the novel Coronavirus as countries implement lockdown measures to curb transmission of the ailment. The sector has also been affected by halting of flights and travel as well as stoppage of all events. Regional tourism experts...

Tuesday, April 7, 2020 - 2:09am

23-year-old artist earning a living from abstract and realism art

Daddy Ishimwe views art in a unique way to change the world.  By using acrylic and oil painting, he has created his own art style that is popular among enthusiasts as “Daddyisme.” Daddyisme, is a unique style that combines the The African way of living and culture in a positive...

Tuesday, April 7, 2020 - 2:08am

Bweyeye Border Post workers accuse contractor of Rwf100m in unpaid arrears

About 200 construction workers and sub-contractors in Rusizi District are accusing the contractor of Bweyeye Border post over millions of unpaid arrears. In 2015, Rwanda Housing Authority hired Alphonse Twagiramungu as the contractor to construct the Bweyeye border post between Rwanda and...

Tuesday, April 7, 2020 - 2:07am

Young entrepreneurs harnessing alternative protein as animal feed

The global animal feed supply business holds great potential in developing countries, many of them in Africa.  This is among other things due to with the population growth and projections that the continent’s population (currently at one billion) is predicted to rise to 2.3 billion in...

Tuesday, April 7, 2020 - 2:06am

It’s time to prioritise public health over the economy

When it comes to the intersectionality of public health and economics, it’s complex to try to assign which is more instrumental in the wellbeing of a nation, or has more value compared to the other in an ecosystem that thrives on the interconnectivity between different sectors. A few months...

Tuesday, April 7, 2020 - 2:05am

Medical technology is Africa’s best chance for fighting COVID-19

For the past few weeks, the scenario we all feared is starting to materialize. Every day, more COVID-19 patients are discovered in various countries across Sub-Saharan Africa, in an exponential rate. The growing numbers of both patients and affected countries leave many international experts...

Tuesday, April 7, 2020 - 2:04am

Before it’s too late: What governments should do to keep the economy alive

These are unprecedented times. The spread of the Coronavirus throughout the world and the entire world led many governments to enforce extreme social distancing policies, ordering residents to stay in their homes, with the hopes of stopping (or at least slowing down) the spread of the virus....

Tuesday, March 31, 2020 - 12:46am

Rwanda’s satellite partner files for debt restructuring

OneWeb, global communications company with a mission to bring connectivity to everyone everywhere has announced that the Company and certain of its controlled affiliates have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District...

Tuesday, March 31, 2020 - 12:44am

Seven key actions business can take to mitigate the effects of COVID-19

We are living in uncertain times. When 2020 started, it seemed a year full of great potential, but we slowly came face to face with Covid 19. Estimating the virus’s effect on the global economy is hard. The SARS outbreak is believed to have cost about US$40 billion; the economist...

Tuesday, March 24, 2020 - 7:48pm

Entrepreneur’s experience: Starting a pedicure and manicure business

Idi Nuwagaba is one of many young people trying to make a living from practical skills. Having worked in a hair salon before in pedicure and manicure since 2002, he had no doubt that it is the kind of job anyone can do, whether educated or not. He is a nail technician offering various services,...

Tuesday, March 24, 2020 - 1:22am

MTN further encourages sellers to go cashless

MTN Rwanda on Monday, March 23, said that, in partnership with several Government institutions, it is further encouraging sellers across the country to go cashless amidst COVID-19. The move is in line with discouraging cash exchanges, as it increases the chances of transmission of this pandemic...

Tuesday, March 24, 2020 - 1:21am

COVID-19: COMESA Business Council cites trade disruptions

The Common Market for Eastern and Southern Africa (COMESA) Business Council, through its special edition covering business insights of the COVID- 19 virus, has reported that there have been serious trade disruptions between country members, region and international trading partners due to the virus...

Tuesday, March 24, 2020 - 1:20am

Almost 25 million jobs could be lost worldwide as a result of COVID-19, says ILO

The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million, according to a new assessment by the International Labour Organization (ILO). However, if we see an internationally coordinated policy response, as happened in the global...

Tuesday, March 24, 2020 - 1:19am

Fight or flight: Business leaders’ action now will determine the survival rate of firms

The COVID-19 crisis that has been rattling our world in the past few weeks reminds us that no matter what we do, we are part of a worldwide biological ecosystem.  Despite the tremendous technological developments of our time, we are still vulnerable; and a microscopic virus is enough to...

Tuesday, March 24, 2020 - 1:17am

UAE suspends flights in and out of Dubai, city on lockdown

The United Arab Emirates on Monday suspended all passenger and transit flights to and from the country for two amidst global outbreak of the coronavirus, also known as COVID-19). The decision to suspend flights to and from Dubai International Airport followed the death of two people over the...

Tuesday, March 24, 2020 - 12:56am

COVID-19: Central Bank cautions public against panic

In light of the measures adopted during the Coronavirus containment period, the Central Bank has cautioned the public against panic saying that measures have been put in place to ensure continuity and access to financial services. In a statement by the Central Bank Governor John Rwangombwa, the...

Tuesday, March 24, 2020 - 12:53am

Top 6 business opportunities for local investors during CHOGM 2020

With the confirmation that preparations for Commonwealth Heads of Government Meeting (CHOGM) continue as planned despite the ongoing Corona outbreak in optimism that it will have been contained by June this year, what are some of the top business opportunities the meeting will bring? The New...

Tuesday, March 17, 2020 - 12:38pm

Banks urge customers to go digital amidst coronavirus outbreak

Since Rwanda confirmed its first Coronavirus case, members of the public have been avoiding public spaces as recommended by the Ministry of Health in the country. Banks,  which are often characterized by long queues and gatherings, seemed to have less traffic at the beginning of the...

Tuesday, March 17, 2020 - 9:45am

Coronavirus: Kenyan Central Bank directs use of Mobile Money to reduce transmission risk

The Central Bank of Kenya (CBK) has issued emergency measures to facilitate greater use of mobile money in a bid to reduce the risk of spreading the novel coronavirus, or COVID-19, through exchange of banknotes. Kenya has reported three confirmed COVI19 cases while some 22 cases are under...

Tuesday, March 17, 2020 - 9:25am

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