Flydubai 2014 net profits up by 12%

Flydubai, a United Arab Emirates-based budget airline, which entered the Rwandan market last year, has announced plans to increase flights from the region to Dubai, a statement from the firm indicates. This comes on the heels of a surge in its 2014 net profits, which grew by 12.3 per cent, from...

Friday, March 6, 2015, 12:00 AM

MTN Rwanda slashes call charges to South Sudan

Traders and other Rwandans travelling to South Sudan will now find it easier to make calls and carry out transactions after MTN Rwanda cut charges for calls between the two countries.  Calling South Sudan is now at Rwf60 per minute for both pre-paid and post-paid MTN customers, while roaming...

Thursday, March 5, 2015, 12:00 AM

Indian firms to invest in agric, health sectors

Two Indian firms have registered in Rwanda and plan to invest $2.25 million (about Rwf1.6 billion) in the agricultural and health sectors over the next three to five years. Vinay Goel, the medical director of Mumbai-based Lifecare Diagnostic and Research Centre and one of the investors, told The...

Wednesday, March 4, 2015, 12:00 AM

KCB Bank 2014 profit up by 18%

Kenya-based Kenya Commercial Bank (KCB) Group, the mother company of KCB Bank Rwanda, posted an 18 per cent growth in full-year pre-tax profit last year. The group’s profit before tax rose from Ksh20.12 billion (about Rwf148 billion) to Ksh23.79 billion (about Rwf174.4 billion), KCB Group...

Wednesday, March 4, 2015, 12:00 AM

Rwf15b govt bond starts trading on the bourse today

The Rwf15 billion three-year Treasury bond, which was issued by the central bank last week, will start trading at the bourse today. The bond, issued under the government’s quarterly Treasury bond issuance programme, was oversubscribed by 106 per cent last week and fetched a coupon rate of 11...

Tuesday, March 3, 2015, 12:00 AM

Airtel appoints inaugural CSR committee

In a move that is intended to drive its Corporate Social Responsibility (CSR) agenda in the country, telecom firm Airtel has appointed its inaugural CSR committee made up of distinguished public figures.  They are Joseph Nkurunziza, a public health physician and activist, who is also the...

Tuesday, March 3, 2015, 12:00 AM

Trust Law Chambers appoints Balenzi as partner

Trust Law Chambers, a Kigali-based law firm, has appointed seasoned lawyer Richard Balenzi as partner. “Balenzi joined the law firm as an associate in 2008 and has rapidly risen through the ranks, thanks to his brilliance, diligence and commitment. His appointment is consistent with our...

Tuesday, March 3, 2015, 12:00 AM

Tough central bank guidelines tame third party insurance underselling

The move by the central bank to introduce a minimum rate for third party insurance premiums has helped tame the vice of underselling, which had taken root in the local insurance sector.  Motor vehicle insurance cover makes up 40 per cent of the sector’s total underwritten premiums....

Friday, February 27, 2015, 12:00 AM

Rwf15bn Treasury bond attracts more investors

The Rwf15 billion Treasury bond (TB) issued by the central bank on Wednesday has attracted more retail investors compared to the one issued in November. Of the 62 applications the National Bank of Rwanda (BNR) received for the three-year TB, 39 were individuals and Savings and Credit Cooperatives...

Friday, February 27, 2015, 12:00 AM

Students advised on career, employment

Many students do not know what they want to become in future, while those that have a clue cannot explain why they want to take that direction in particular. That is why Tigo and Imbuto Foundation recently organised a workshop in Kigali to enlighten 100 students from the Association of Students...

Wednesday, February 25, 2015, 12:00 AM

Higher interest returns push up BK's 2014 profit

BK chief James Gatera. Bank of Kigali (BK) net profit rose by 23.5 per cent last year, mainly driven by increases in net interest and non-interest incomes, a statement from the lender indicates. The bank’s net interest income grew by 11.5 per cent, from Rwf35.2 billion to Rwf39.3 billion,...

Wednesday, February 25, 2015, 12:00 AM

Low activity on the bourse

There was low activity at the local bourse yesterday, according to the Rwanda Stock Exchange (RSE) market report for Monday. The RSE All Share Index, however, gained 0.03 points to close at 137.57 yesterday, while the RSI inched up 0.26 points to close at 236.68. The Bank of Kigali counter closed...

Tuesday, February 24, 2015, 12:00 AM

4G internet uptake gathers pace despite concerns among retailers

In 2013, the government signed a $260 million (Rwf187.2 billion) 25-year agreement with Korea Telecom, the biggest telecom company in South Korea, to deploy 4G Long Term Evolution (4G LTE) broadband network across the country to ensure fast, reliable and affordable Internet services for Rwandans....

Tuesday, February 24, 2015, 12:00 AM

Govt to issue fourth Treasury bond on Wednesday

The National Bank of Rwanda (BNR) will on Wednesday issue a three-year Rwf15 billion bond, the fourth TB to be issued under government’s quarterly issuance programme.  Emmanuel Rugamba, the operations supervisor at CDH Capital, a brokerage firm, said they are already receiving a lot of...

Monday, February 23, 2015, 12:00 AM

Central bank dispels fears of deflation

The central bank has allayed fears that the Rwandan economy could be heading into a deflation. “We are not moving towards a deflation...our core inflation, which is linked to the output of the economy, it is still above two per cent. The reduction in headline inflation (normally influenced...

Monday, February 23, 2015, 12:00 AM

IHS, Airtel finalise tower takeover deal

Airtel Rwanda and IHS, Africa’s leading independent mobile telecommunications infrastructure provider, have finalised a takeover deal of the telecom firm’s 200 towers countrywide, a move is expected to improve the telecom’s service delivery and ensure affordable rates for...

Friday, February 20, 2015, 12:00 AM

Rwanda's export earnings up despite low global prices

Rwanda’s exports performed relatively better in both value and volumes last year compared to the previous year, the central bank says in its Monetary Policy And Financial Stability Statement released on Tuesday.  The country’s total export receipts increased by 4.7 per cent in...

Thursday, February 19, 2015, 12:00 AM

RSE share index sheds 2 points

The bourse was quiet yesterday, with no shares traded across all the six counters, the Rwanda Stock Exchange market report indicates. However, the stock market was active during the past week, with regional financier, Equity Group Holdings, cross-listing on Thursday and trading a total of 45,000...

Tuesday, February 17, 2015, 12:00 AM

Local bourse: Will Equity Bank break the jinx?

Regional financial services firm, Equity Group Holdings, cross-listed on the Rwanda Stock Exchange (RSE) last week, bringing the profitable company’s stocks closer to Rwandan investors. The bank is the fourth cross-listed company to float its shares on the local bourse, after Uchumi...

Tuesday, February 17, 2015, 12:00 AM

IFC issues first Rwanda Franc offshore bond

In what capped the events of the East Africa Capital Markets conference that ended yesterday, in Kigali, International Finance Corporation (IFC), the private sector lending arm of the World Bank, issued Rwanda’s first offshore bond in Rwandan francs. The three-year $5 million (Rwf3.5 billion...

Saturday, February 14, 2015, 12:00 AM