10-year bond listed on bourse

The 10-year Rwf10 billion Treasury bond issued last week by the central bank started trading at the Rwanda Stock Exchange (RSE) on Tuesday, writes Ben Gasore.  The bond has the longest maturity of 10 years compared to the other bonds. There are seven government TBs listed at the bourse and...

Thursday, June 4, 2015, 12:00 AM

Umwalimu Sacco extends Rwf40 million to Agaciro Fund

Teachers’ savings and credit cooperative, Umwalimu SACCO, has donated Rwf 40 million towards the Agaciro Development Fund. Handing over a dummy cheque to the Fund’s manager, Vianney Kagabo, yesterday, Jean Marie Nzagahimana, the chairperson of Umwalimu, said the funds were raised from...

Wednesday, June 3, 2015, 12:00 AM

CMA tips govt on bond issuances

The government should continue with its quarterly Treasury bond issuances because it is positively impacting the local financial market.  Speaking to Bsuiness Times in an exclusive interview yesterday, Robert Mathu, the Capital Markets Authority (CMA) executive director, said the government...

Tuesday, June 2, 2015, 12:00 AM

Prime unveils fire insurance cover for low-income earners

Ordinary Rwandans could soon be able to safeguard their property against fire, thanks to a new insurance product introduced on the market by Prime Insurance.  John Bugunya, the chief executive officer, said the product will see clients buy premiums against fire for as low as Rwf1,000 per...

Monday, June 1, 2015, 12:00 AM

Commodities exchange to start trading in coffee, beans

East African Exchange (EAX), Kigali-based commodities exchange, will start trading in coffee and beans in coming weeks, Alfa Kadri, the EAX chief executive, has said. Kadri said the move aimed at attracting more farmers to use the platform and expand tradable products on the EAX. Kadri the plan...

Monday, June 1, 2015, 12:00 AM

BRD donates Rwf42m to Kirehe Genocide survivors

The Development Bank of Rwanda (BRD), yesterday, handed over a cheque of Rwf 42.4 million to Genocide survivors in Kirehe District, for the renovation of their houses and payment for health insurance premiums. Peter Rwambala, the BRD Director of Corporate Affairs, said the money would be used to...

Friday, May 29, 2015, 12:00 AM

GT Bank records Rwf260.4m net profit in Q1

GT Bank recorded a Rwf260.4 million net profit during the first quarter of the year, up from Rwf208.8 million during the similar period last year, the lender indicated in a financial statement. The bank attributed the growth in profits to increase in net interest income which went up from Rwf1.25...

Friday, May 29, 2015, 12:00 AM

RBA promises satellite broadcasting as Azam TV launches

Public broadcaster, Rwanda Broadcasting Agency (RBA), will be on satellite by August this year, Arthur Asiimwe, RBA managing director, has said. The development will make it possible for the broadcaster, which is a free-to-air television station, to be accessed by pay TV subscribers. Asiimwe said...

Thursday, May 28, 2015, 12:00 AM

Why Crystal Telecom shares are a must buy for Rwandans

Crystal Telecom, a subsidiary of Crystal Ventures Limited, launched its Initial Public Offering (IPO) to investors last week, giving a chance to Rwandans and foreigners to own a piece of Rwanda’s largest telecom firm, MTN Rwanda. Business Times’ Ben Gasore caught up with Jack Kayonga, the Crystal...

Tuesday, May 26, 2015, 12:00 AM

Crystal Telecom stock listing raises prospects

After three years of trying to get on the stock market, Crystal Telecom became the first private sector firm in Rwanda to go public after its shares were offered to the public yesterday. The Minister for Finance and Economic Planning, Amb. Claver Gatete, unveiled the firm’s share price at Rwf105...

Friday, May 22, 2015, 12:00 AM

Olleh Rwanda unveils innovative 4G internet products

Customers of Olleh Rwanda Networks (ORN) will now be able to monitor their homes and offices on their phones and PCs, thanks to the introduction of new innovative products by the firm on the local market.  Patrick Yoon, the ORN chief executive officer, the Fourth Generation Long Term Evolution (...

Thursday, May 21, 2015, 12:00 AM

Crystal Telecom shares to debut on stock market

MTN Rwanda shareholder, Crystal Telecom, is set to launch its much-awaited Initial Public Offering (IPO) this morning at the Kigali Serena Hotel. The company will be selling off its 20 per cent stake in MTN Rwanda, the largest telecom operator in the country, to the public. The move is part of...

Thursday, May 21, 2015, 12:00 AM

Crystal Telecom IPO launched at Rwf105 a share

The Minister of Finance and Economic Planning, Amb Claver Gatete this morning unveiled Crystal Telecom’s share price at Rwf 105 each in a well-attended breakfast at the Kigali Serena Hotel. According to the company prospectus, Crystal Telecom is offering over 270.17 million shares it has in...

Thursday, May 21, 2015, 12:00 AM

Rwanda Franc continues to gain ground against US dollar

The Rwanda franc continued to make gains last month, depreciating by 0.39 per cent against the dollar, lower than 0.52 per cent depreciation rate recorded in March, a statement from the central bank indicates. The franc’s depreciation was also lower compared to the other East African...

Tuesday, May 19, 2015, 12:00 AM

Credit rating system will help reduce interest rates, experts say

For the habitual cross-borrowers the introduction of the former Credit Reference Bureau Africa (now TransUnion Rwanda) in 2010 must have been like an unwelcome visitor who never goes away.  CRB that rebranded to TransUnion Rwanda recently, has played a big role in reducing bad loans that had...

Tuesday, May 19, 2015, 12:00 AM

Disparities in implementation of tax incentives irk manufacturers

Manufacturers have decried the way tax incentives offered by the Rwanda Development Board are being implemented by the Rwanda Revenue Authority (RRA). The Rwanda Association of Manufacturers (RAM) and industrialists says though they are given some tax incentives when registering their businesses,...

Monday, May 18, 2015, 12:00 AM

I&M Bank net profits drop slightly in first quarter

i&M bank recorded a slight drop in its net profit during the first quarter of the year compared to the same period last year, a financial statement from the lender indicates. The firm’s net profit declined to Rwf1.14 billion at the end of March this year, down from Rwf1.17 billion in...

Thursday, May 14, 2015, 12:00 AM

CRB rebrands to Transunion, unveils new credit rating system

Credit risk management firm, Credit Reference Bureau (CRB), has rebranded to Transunion Rwanda.  Aimable Nkuranga, the Transunion Rwanda country manager, announced the rebranding at a press briefing in Kigali yesterday. Transunion Rwanda is a subsidiary of Transunion Africa Holdings, which...

Thursday, May 14, 2015, 12:00 AM

Bourse records Rwf 2.6 billion in bond sales

The secondary bond market was active again yesterday after a fortnight of inactivity as 25 million bonds of a three-year government bond issued last year were traded at Rwf 102.5 each, yesterday’s market report indicates. This translated into an estimated turnover of Rwf 2.6 billion from the...

Tuesday, May 12, 2015, 12:00 AM

Airtel Rwanda donates Rwf2.5m to the Genocide widows

Airtel Rwanda last week donated Rwf2.5m to support the housing project for elderly Genocide widows. The money will be channeled through Association of Genocide Widows, (AVEGA Agahozo) and will go towards the fund basket for construction of more than 30 housing units for the elderly widows. Regine...

Tuesday, May 12, 2015, 12:00 AM

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