Rwandans turn to SMS as mobile phone ownership grows to 70 per cent

More Rwandans have turned to short text messages (SMSs) to communicate, with the number of SMSs sent last year rising by over six billion for on-net texts compared to the previous year.  According to the telecom sector 2014 report by the Rwanda Utilities Regulatory Authority (RURA), close to...

Thursday, April 16, 2015, 12:00 AM

Business travellers boost tourism sector with visitors up 24 per cent

The number of business travellers who lodged in the country last year increased by 24 per cent, with the government attributing the development to the new strategy to focus on business travellers as supplement to those that come to the country for leisure.  Last year, Rwanda Development Board...

Wednesday, April 15, 2015, 12:00 AM

Crystal Ventures to list MTN shares on local bourse

Rwandans will have an opportunity to co-own MTN Rwanda when Crystal Ventures Limited, one of the country’s top firms, sells its 20 per cent stake in the firm through an initial public offering (IPO). A statement from the firm indicates that the IPO will be issued under Crystal Telecom, a...

Wednesday, April 15, 2015, 12:00 AM

Art exhibition at Kigali Serena Hotel

Art lovers will have themselves to blame if they fail to attend the on-going art exhibition at the Kigali Serena Hotel. More than twelve Rwandan painters have been exhibiting their work at the five-star hotel since  April 7  for people who love, understand and appreciate art to come and buy....

Wednesday, April 15, 2015, 12:00 AM

Bank of Kigali rakes in Rwf1.3 billion

Bank of Kigali was the only active counter yesterday. The bank raked in Rwf1.3 billion, higher than the combined total turnover realised at the bourse the whole of last week, the Rwanda Stock Exchange market report for Monday indicates. The counter sold over 4.5 million shares yesterday at Rwf296...

Tuesday, April 14, 2015, 12:00 AM

Bralirwa counter sheds Rwf2 in slow trade at the local bourse

Bralirwa counter shed Rwf2 yesterday to trade at Rwf377 compared to Rwf379 on Tuesday, the Rwanda Stock Exchange (RSE) daily market report for Thursday indicates. The company traded 5,000 shares, raking in Rwf1.9 million. This was an increase in volume and value compared to Wednesday, where the...

Friday, April 10, 2015, 12:00 AM

Equity Bank listing props up market capitalisation in the first quarter

The cross-listing of Kenyan financial services giant, Equity Group Holdings at the Rwanda Stock Exchange (RSE) in February, led to doubling of the bourse’s total market capitalisation during the first quarter of this year, the market’s quarterly report indicates. The report indicates...

Friday, April 10, 2015, 12:00 AM

Rwanda franc performs better than expected in first quarter of 2015

The Rwanda franc made gains against the euro and the pound over the first quarter of this year (January-March, 2015), but declined by 1.95 per cent against the US dollar, a statement from the central bank indicates. The National Bank of Rwanda (BNR) quarterly forex report shows that the franc...

Thursday, April 9, 2015, 12:00 AM

Grain farmers excited as banks move to disburse EAX loans

Thedeal between the East African Exchange (EAX) and selected banks to offer grain farmers low interest loans has started to bear fruit as the first batch of beneficiaries prepare to receive funding from Ecobank. Alfah Kadri, the EAX chief executive officer, said over six farmers are awaiting...

Wednesday, April 8, 2015, 12:00 AM

Bank of Kigali sheds Rwf1, other counters quiet

There was low activity on the Rwanda Stock Exchange, with only Bank of Kigali shares exchanging hands, the daily market report indicates. The counter, however, shed Rwf1 during the week to close at Rwf295 yesterday, down from Rwf296 last Monday, the report shows. According to the report, the bank...

Tuesday, April 7, 2015, 12:00 AM

Travellers to buy air tickets using Airtel Money

Telecom services provider, Airtel Rwanda has introduced air travel ticket payment options on its airtel money platform, a development that takes the cuttthroat competition in the mobile money transfer services a notch higher. According to a statement from the firm, Airtel customers registered on...

Tuesday, April 7, 2015, 12:00 AM

Government to sell its stake in I&M Bank to public through an IPO

The government will soon sell its 19.8 per cent stake in I&M Bank, a statement from the Ministry of Finance and Economic Planning indicates. According to the statement, the shares will be offered to the public in an initial public offering (IPO) through the Rwanda Stock Exchange (RSE), a move...

Tuesday, April 7, 2015, 12:00 AM

How cloud-based business solutions can grow your firm

How would you feel if you got an option to access all the office work or stuff that is saved on your computer at home while on the road, anywhere in the world? Or it could be that after leaving office in the evening you suddenly remember there is a document you should have sent to your boss by the...

Tuesday, April 7, 2015, 12:00 AM

Zigama CSS mulls slashing interest rate

Zigama Co-operative and Savings Society (Zigama CSS) customers could soon start enjoying a low interest rate after the bank’s board expressed willingness to review the current interest rate, James Ndahiro, the board chairperson, has revealed.  The development follows complaints from...

Monday, April 6, 2015, 12:00 AM

Ecobank rebounds from 2013 loss

Ecobank made a turnaround from a Rwf563.1 million loss in 2013 to post a Rwf518.4 million after tax profit last year, the bank’s financial statement released Thursday indicates. According to the statement, the bank performance was driven by increase in net interest to Rwf7.7 billion last...

Saturday, April 4, 2015, 12:00 AM

Tigo unveils a mobile savings service

Telecom firms are taking advantage of advances in information and communication technologies to rollout a myriad of customer-friendly products to grow their customer base. Tigo Rwanda on its part, is using ICTs to rollout a mobile savings product that targets the unbanked masses in partnership...

Thursday, April 2, 2015, 12:00 AM

Equity counter ends weeks of inactivity at the bourse

Equity Bank ended weeks of inactivity yesterday, trading 100 shares worth Rwf43,000, according to the Rwanda Stock Exchange (RSE) daily market report for Tuesday. The counter traded at Rwf430 a share, unchanged for the past two or so weeks.  The Bralirwa counter was active yesterday, selling...

Wednesday, April 1, 2015, 12:00 AM

Gasabo residents urged to safeguard land resources

Rwandans should value the environment through careful use of land resources, Ebenezer Asante, the MTN Rwanda chief executive officer, has urged. Speaking during Saturday’s monthly community work, known as ‘Umuganda’ in Gatunga Cell, Nduba Sector in Gasabo District, Asante advised...

Tuesday, March 31, 2015, 12:00 AM

Airtel to give clients soft loans

A micro-money lending platform whereby subscribers will be able to borrow up to Rwf50,000 payable in two weeks has been launched by telecom services provider, Airtel Rwanda and Atlantis Limited, a micro-finance institution. The service is dubbed ‘Igurize Amafaranga’. Speaking at the...

Tuesday, March 31, 2015, 12:00 AM

Equity Bank records Rwf1.3b profit

Kenyan bank subsidiary, Equity Bank Rwanda, has rebounded from a Rwf1.1 billion loss in 2013 to record Rwf1.3 billion profit last year, a financial statement from the lender indicates. The bank’s parent company, Equity Group Holdings Limited is listed at the Nairobi Stock Exchange and is...

Tuesday, March 31, 2015, 12:00 AM