Govt to issue another bond on Aug 26

The government will issue another Rwf15 billion five-year bond later this month under its quarterly bond issuance programme. This will be the fifth Treasury bond since the government started its quarterly issuance programme last year. The bond market has been inactive for most of the year, a...

Tuesday, August 11, 2015, 12:00 AM

Design for Muvumba multipurpose dam in Nyagatare due in October

A detailed design for the construction of Muvumba multipurpose dam in Nyagatare District in the Eastern Province should be out by October after the Korean International Cooperation Agency (KOICA) presented a detailed feasibility study of the project yesterday. The study was carried out by K-Water...

Tuesday, August 11, 2015, 12:00 AM

Bank of Kigali half year net profit surges to Rwf10.7b

Bank of Kigali recorded a net profit of over Rwf10.7 billion during the first six months of the year, which is a 9.3 per cent increase compared to Rwf9.8 billion the bank registered in the same period last year. Bank of Kigali chief executive officer James Gatera. (File) The bank made gains...

Monday, August 10, 2015, 12:00 AM

Mixed fortunes for traders as expo nears end

Business at the ongoing International Trade Expo at Gikondo Showground in Kicukiro has been low, with exhibitors saying buyers were few.  The organisers, Private Sector Federation (PSF), had projected that up to 270,000 people would visit the expo this year, an increase from 265,000 showgoers...

Monday, August 10, 2015, 12:00 AM

Nestle moves to consolidate fortified foods footprint

Nestle, a Swiss multinational foods and beverages company, has moved to consolidate its presence on the local fortified foods market by introducing more products.  The firm last week unveiled Maggi cubes, which is used for food seasoning. The Nestle head of East Africa cluster, Ciru Miring...

Thursday, August 6, 2015, 12:00 AM

Equity Group half-year net profit up 12%

Equity Group Holdings pretax profit grew 12 per cent to Ksh12.1 billion (Rwf88 billion) in the first half of the year, up from Ksh10.8 billion (Rwf78 billion) recorded over the similar period last year, the firm’s financial results indicate.  Ben Gasore reports that the group’s...

Wednesday, August 5, 2015, 12:00 AM

Start-ups contest on

Local start-ups stand to win part of the $1.5 million (Rwf1.08 billion) investment funding in the ongoing International Seedstars World competition. “Start-ups interested in the competition can contact Seedstars World’s Rwandan partners, like Inkomoko, BDC Rwanda, African Innovation...

Wednesday, August 5, 2015, 12:00 AM

KCB counter ends months of inactivity

Months of inactivity for cross-listed financial services firm, KCB Bank Group, could be over after the firm traded 1,000 shares worth Rwf370,000 on Friday at the Rwanda Stock Exchange (RSE) at Rwf370 each. The counter was also active yesterday, with 1,500 of its shares exchanging hands, the RSE...

Tuesday, August 4, 2015, 12:00 AM

KCB Group half year gross profit increases by 13%

Regional financial services provider, KCB Group, profit before tax grew 13 per cent in the first half of the year, driven by rise in funded and non-funded income, international business returns and efficient cost management, a statement from the firm indicates. During the January-June period, the...

Monday, August 3, 2015, 12:00 AM

Hi-tech cooking gas cylinders hit market

A new liquefied petroleum gas (LPG) dealership has opened shop in Kigali. Safe Gas has also introduced enhanced and safer packaging material for LPG, which prevent explosions in case of fire accidents, according to Liban Mugabo, the chief executive officer.  “We have made a breakthrough...

Thursday, July 30, 2015, 12:00 AM

Tigo unveils new slogan

Tigo Rwanda has unveiled a new brand slogan as it moves to re-position itself in the market and provide more innovative products that add value to clients’ lives, Tongai Maramba, the firm’s chief executive officer, has said. Speaking at the launch of the firm’s new slogan:...

Thursday, July 30, 2015, 12:00 AM

Crystal Telecom counter dominates

Shareholdersof recently-listed Crystal Telecom are cashing in on the stocks they bought during the Initial Public Offering last month, with the firm joining the ‘league’ of the most active counters at the Rwanda Stock Exchange (RSE). According to the RSE daily market report for Monday...

Tuesday, July 28, 2015, 12:00 AM

UAP-Old Mutual looks to better prospects following merger

Rwandans will be able to access an enhanced range of professional services from insurer, UAP Holding following its merger with South African insurance giant, Old Mutual last month. Old Mutual increased its shareholding in the group from 23.3 per cent to a 60.7 per cent controlling stake in the...

Tuesday, July 28, 2015, 12:00 AM

I&M Bank Rwanda's Anand resigns

i&M bank Rwanda managing director, Sanjeev Anand, has resigned his role at the lender due to what he calls “personal reasons”. In a phone interview with The New Times on Friday, Anand, who also doubles as the chairman of the Rwanda Bankers’ Association (RBA), said he had...

Monday, July 27, 2015, 12:00 AM

BRD staff raise Rwf10 million towards Gen Karake bail fee

The Development Bank of Rwanda (BRD) and its staff, yesterday donated over Rwf10 million towards the ‘Ishema Ryacu’ campaign aimed at raising the £1 million (about Rwf1.2 billion) bail fee for Lt Gen Karenzi Karake. Karake was arrested in the United Kingdom last month, while on...

Saturday, July 25, 2015, 12:00 AM

Price undercutting erodes gains made by insurance sector - BNR

The local insurance industry continues to suffer big losses due to persistent price undercutting practices among insurers, the industry regulator, the National Bank of Rwanda (BNR) first quarter monetary policy and financial stability statement indicates.  The central bank indicated that many...

Friday, July 24, 2015, 12:00 AM

Crystal Telecom rakes in Rwf9.3m

Newly Rwanda Stock Exchange (RSE) listed firm, Crystal Telecom, raked in Rwf9.3 million total turnover on its second day of trading at the bourse.  The firm traded 68,600 shares in four deals at Rwf136 each, yesterday’s market report indicates. The counter however shed Rwf8, down...

Tuesday, July 21, 2015, 12:00 AM

Bio-metric technology is the future for Rwanda's cashless society

The significant growth in the use of mobile money and electronic cards at Point of Sale (PoS) devices and Automated Teller Machines (ATMs) is hard to ignore. This has enabled the country to make huge inroads in its goal toward achieving a cashless economy, a development that has attracted numerous...

Tuesday, July 21, 2015, 12:00 AM

Businesses urged to own country's devt agenda by paying taxes

The business community should own the country’s development agenda by paying taxes willingly and timely, as well as considering tax administrators as partners in development, Richard Tusabe, the Rwanda Revenue Authority (RRA) Commissioner General, has said. Tusabe said taxes should not be...

Monday, July 20, 2015, 12:00 AM

Crystal Telecom first day of stock trading closes at Rwf144

Crystal Telecom shares were the most traded on their debut on the stock market recording the highest turnover compared to the other counters, yesterday’s market report indicates. The company made its first trade at the secondary market of 2,000 shares at Rwf145 each, then went on to trade 4,000...

Friday, July 17, 2015, 12:00 AM

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