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

BRD signs Rwf2bn credit line for agric, energy and education sectors

The Development Bank of Rwanda (BRD) has signed a $3 million (about Rwf2.2 billion) credit facility with the Great Lakes Development Bank that will see it extend credit to businesses in the agricultural, energy and education sectors. Speaking during the signing ceremony, last week, Alex...

Monday, May 11, 2015, 12:00 AM

KCB pre-tax profit up by 12 per cent

Pre- tax profits at KCB bank increased by 12% during the first quarter of 2015, a new report has indicated. Pre-tax profit is the profit for a particular period of time before tax deductions. According to the statement from the bank, KCB in 2015 got net profit of Rwf44 billion from its interest...

Saturday, May 9, 2015, 12:00 AM

UAExchange opens third branch in Rwanda

Money transfer and foreign exchange firm, UAExchange has opened its latest branch in Nyabugogo. The outlet is the third branch in Rwanda and is expected to facilitate business around Nyabugogo business area in Nyarugenge district. Riyaz Naghoor, the firm’s Head of operations said that the...

Friday, May 8, 2015, 12:00 AM

More maize cooperatives to benefit from EAX credit scheme

More farmers under maize growing cooperatives are set to benefit from the warehouse receipt financing scheme, thanks to the East African Exchange (EAX). In an interview with The New Times on Monday, Kadri Alfah, the EAX chief executive officer said about 10 maize cooperatives are already receiving...

Wednesday, May 6, 2015, 12:00 AM

BK, Bralirwa share price drop causes share index to shed 1.49 points

The Rwanda Stock Exchange (RSE) shed 1.49 points on its share index during the week, mainly due to the drop in Bank of Kigali (BK) and Bralirwa’s share prices, yesterday’s market report indicates. BK’s share price dropped from Rwf 296 last Monday to Rwf 295 yesterday while...

Tuesday, May 5, 2015, 12:00 AM

About 415,300 shareholders could lose stake in Banque Populaire

Thousands of Banque Populaire du Rwanda (BPR) shareholders could lose their shares if they don’t register themselves by July 18 to confirm their status. According to a notice by the commercial bank, up to 415,292 unregistered shareholders could lose their stakes in financier.  Ephraim...

Tuesday, May 5, 2015, 12:00 AM

Bralirwa set to announce dividend payout

Bralirwa is set to propose Rwf7.5 dividend payout per share next month. The proposed dividend which is the same as last year’s, follows a drop in the firm’s profits last year. According to a press statement from Rwanda’s largest brewer and soft beverage company, its net profit...

Monday, May 4, 2015, 12:00 AM

BRD earmarks Rwf68b for power, agric funding

Development Bank of Rwanda (BRD) will extend a tune of Rwf68 billion long-term credit to the private sector this year, Alex Kanyankole, the chief executive officer, has said. Kanyankole explained that following the formation and sale of BRD Commercial Bank to Atlas Mara last year, the bank ceased...

Friday, May 1, 2015, 12:00 AM

Private healthcare providers to moot ways to improve services at Kigali regional meet

The role played by the private sector in the financial sustainability of health care delivery systems will be the main focus during the fourth annual East African Healthcare Federation Conference that takes place in Kigali next month. Dr Jean Nyirinkwaya, chairman of the Rwanda Healthcare...

Thursday, April 30, 2015, 12:00 AM

Banks to beef financial muscle of miners

Bankers have agreed to examine the possibility of increasing financing of mining projects in the country. This was one of the issues agreed at a meeting of members of the Rwanda Miners Association (RMA), Rwanda Bankers Association (RBA), and government officials yesterday, in Kigali. Lack of...

Thursday, April 30, 2015, 12:00 AM

Secondary market ends months of inactivity

About100,000 bonds of the government five-year paper exchanged hands yesterday on the Rwanda Stock Exchange (RSE), ending months of inactivity at the secondary market segment. According to the RSE daily report for Monday April 27, the bond that was issued last year traded at Rwf99.9 each. The...

Tuesday, April 28, 2015, 12:00 AM

Creating a robust cashless financial system essential for sector growth

Mobile money and electronic banking is seen as the next big thing for the banking sector and telecoms, perhaps this is the reason why a lot of attention is being paid to them. However, the future of Rwanda’s all-inclusive cash-less economy could be elsewhere, according to sector analysts....

Tuesday, April 28, 2015, 12:00 AM

MTN Rwanda, Safaricom to interlink mobile money services

MTN Rwanda subscribers will soon be able to make cross-border mobile money transactions, thanks to a deal MTN Group signed with Vodafone Group. The deal will see MTN users in Rwanda transfer cash to Kenya or Tanzania through Safaricom and Tanzania’s Vodacom M-Pesa platform “within...

Friday, April 24, 2015, 12:00 AM

MTN donates Rwf8m to Genocide widows

MTN Rwanda has donated Rwf8 million to the Association of Genocide Widows (AVEGA) to support the group’s activities. While handing over the money to AVEGA leaders MTN chief executive officer, Ebenezer Asante, said the telecom supports efforts geared at empowering communities, including...

Wednesday, April 22, 2015, 12:00 AM

Azam TV entry to intensify rivalry in pay TV market

Competition in the local pay TV market could intensify following the entry of Tanzania-based Azam TV.  StarTimes and Tele10, which markets DStv, Canal+ and GOtv, have been the only pay TV service providers before Azam’s entry. The company, owned by Tanzania’s Bakhresa Group...

Wednesday, April 22, 2015, 12:00 AM

Bourse quiet as poor run continues

The bourse was quiet yesterday, with none of the listed stocks or bonds trading, the Rwanda Stock Exchange (RSE) daily market report indicates. Domestic firms Bank of Kigali and Bralirwa, which are the most active counters, have also been having a poor run over the past two months. Yesterday, Bank...

Tuesday, April 21, 2015, 12:00 AM

RURA cautions telecom operators on unsolicited messages

Hardly a day passes without one’s phone buzzing with an unsolicited text message. However, this is against the law.  Official at the Rwanda Utilities and Regulatory Authority (RURA), say that sending unsolicited text messages without the ‘unsubscribe’ option contravenes the...

Tuesday, April 21, 2015, 12:00 AM

Bakhresa employees remember 1994 Genocide victims

Private sector firms should engage their employees more in nation-building during the on-going Genocide commemoration period in order to harness the reconciliation process, Julius Ndunga, the head miller at grain milling firm Bakhresa, has said. Ndunga was speaking after a visit to the Kigali...

Tuesday, April 21, 2015, 12:00 AM

MTN launches mobile money school fees payment service

MTN Rwanda has partnered with 21 schools from across the country to enable parents pay school fees using the telecom’s mobile money platform.  Norman Munyampundu, the MTN general manager for business, said the new service enables parents to transfer school dues from their mobile money...

Friday, April 17, 2015, 12:00 AM

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