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Will a mortgage bank ease rigours of owning a home?

The following article was suggested by one of our readers—if there's an idea you would like us to cover, please submit it here. This week, a new financial institution announced joining the Rwandan market. This new institution – a mortgage bank – will exclusively deal...

Wednesday, March 3, 2021, 12:24 AM

How MTN Rwanda’s fin-tech firm will impact the economy

The following article was suggested by one of our readers—if there's an idea you would like us to cover, please submit it here. Last month, MTN Rwanda revealed plans of setting up an independent company to run its financial technology (fin-tech) operations which will see its...

Tuesday, March 2, 2021, 1:15 AM

Who are Kigali’s top corporate lawyers?

With increased business activity in the country in recent years, corporate law firms and lawyers are increasingly featuring in transactions in multiple roles such as dispute resolution, advisory, negotiation among others. This has driven the opportunities for local corporate lawyers as well as...

Tuesday, March 2, 2021, 12:46 AM

Mortgage firm enters Rwandan market, sets eyes on local bank

A new mortgage firm, Westbridge Mortgage, has debuted the local market with investment plans including acquisition of a local bank. Westbridge Mortgage is a Canadian bank-holding company operating lending institutions in several markets in Africa. The firm is structured as a Mortgage Real...

Monday, March 1, 2021, 7:18 AM

Kagame calls for continued EAC cooperation to tackle Covid effects

President Paul Kagame has called on the East African Community (EAC) partner states to maintain cooperation to build resilience in face of the Covid-19 pandemic and consequent economic challenges. Kagame was speaking at the 21st ordinary meeting of the Summit of the East African Community Heads...

Sunday, February 28, 2021, 2:46 PM

Rwanda, Belgium in new financial sector partnership

Rwanda and Belgium are set to increase ties and cooperation in the financial sector, buoyed by an agreement between Rwanda Finance Limited (RFL) and the Belgian Finance Centre (BFC). RFL is the agency whose responsibility is to promote and develop the Kigali International Financial Centre, an...

Friday, February 26, 2021, 12:41 AM

Central bank maintains key repo rate at 4.5% to encourage lending

The National Bank of Rwanda (BNR) has maintained its key repo rate at 4.5 per cent to encourage continued lending to the private sector by banks to support economic recovery following the Covid-19 pandemic. This followed the quarterly Central Bank’s Monetary Policy Committee (MPC) meeting...

Tuesday, February 23, 2021, 11:19 AM

Mobile payment transactions grow by 206 per cent

The value of mobile payment volumes increased by 206 per cent in 2020 to Rwf 7.177 billion from Rwf2.349 billion in the previous year, statistics from the central bank show. Mobile payment transactions increased by 85 percent from 378.8 million transactions in 2019 to 701 million transactions...

Tuesday, February 23, 2021, 12:00 AM

Central bank tightens banking oversight

Amidst growing credit uncertainty among local banks, the Central Bank is increasing supervisory oversight over local banks.  This is aimed at ensuring prudent assessment of borrowers that are unlikely to pay, assessment of Business Continuity Management as well as accurate provisioning to...

Monday, February 22, 2021, 12:03 AM

Rwandan banks experiencing increased credit risk

The Covid-19 pandemic and measures to curb it have seen local finance institutions experience increased credit risk, the central bank has said. The central bank’s latest assessment of the financial sector has revealed that the pandemic had weakened the capacity of borrowers to service...

Friday, February 19, 2021, 12:53 PM

Will Africa get its fair share under new WTO leadership?

This week, Ngozi Okonjo-Iweala, was formally appointed as the seventh director-general of the World Trade Organisation (WTO), becoming the first African and the first woman to lead the organsation. With the new position comes expectations from African countries not only because of her African...

Friday, February 19, 2021, 1:09 AM

Local, regional exports recover after slump

Local and regional exports have recovered to pre-Covid-19 levels following a sharp decline in April 2020 as a result of the Covid-19 pandemic according to a report by the United Nations Economic Commission for Africa, TradeMark East Africa and African Economic Research Consortium (AERC). The...

Thursday, February 18, 2021, 12:50 AM

How Covid restrictions could affect Rwanda’s education

The following article was suggested by one of our readers—if there's an idea you would like us to cover, please submit it here. With about 3.5 million learners across the country spending months out of school in 2020 and part of 2021, experts fear that it could have lasting impact on...

Monday, February 15, 2021, 12:00 AM

MTN considers setting up financial tech firm

MTN Rwanda is considering setting up an independent company to take on and operate its financial technology operations. The development is an attempt by the telecom operator to increase relevance to financial technology which is increasingly characterizing the financial industry in aspects such...

Friday, February 12, 2021, 12:11 AM

Top five investments in Rwanda in 2020

Rwanda registered investments valued at $1.3 billion (Rwf1.2 trillion) in 2020, a reduction of about 47 per cent compared to 2019 when the country raked in $2.46 billion, statistics from Rwanda Development Board (RDB) show. The decline in investment was attributed to the Covid-19 pandemic...

Thursday, February 11, 2021, 12:50 PM

World Bank pledges $500m to support Rwanda’s Covid-19 recovery plan

The World Bank Group is preparing a pipeline of projects estimated at $500 million to be approved and announced in the course of 2021.  The support will go into supporting vaccine procurement and deployment, financial support to Micro and Small and Medium Enterprises,...

Wednesday, February 10, 2021, 12:41 AM

Rwanda to get 2.6 million Covid-19 vaccine doses through AU framework

Rwanda is set to get Covid-19 vaccine doses through the African Union’s African Vaccine Acquisition Task Team (AVATT) initiative amounting to 2.6 million in addition to vaccines expected through other arrangements, the Minister for Health, Dr Daniel Ngamije, has said. Dr Ngamije was...

Tuesday, February 9, 2021, 2:02 AM

Rwanda’s Nsanzabaganwa is new AU Commission deputy chairperson

Rwanda's candidate Monique Nsanzabaganwa has been elected as the African Union Commission Deputy Chairperson.  Nsanzabaganwa was elected by 42 out of 55 votes during the 34th Ordinary Session of the African Union Assembly held virtually. She contested against Uganda's...

Saturday, February 6, 2021, 8:24 PM

Kagame calls on AU to prioritize domestic health financing

President Paul Kagame has called on African Union member states to prioritize domestic health financing especially in light of the Covid-19 pandemic to improve health outcomes and resilience. Kagame was speaking at the 34th Ordinary Session of the African Union Assembly which was held virtually...

Saturday, February 6, 2021, 6:57 PM

S&P affirms Rwanda’s creditworthiness despite pandemic

Standard & Poor’s (S&P), an international financial services company, has maintained Rwanda’s rating at “B+” but observed that the outlook remained negative. A sovereign credit rating is an independent assessment of a country’s creditworthiness. It serves...

Saturday, February 6, 2021, 2:38 PM