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I&M Bank lending grows by 21% in 9 months

I&M Bank (Rwanda) Plc grew its loan book in the first nine months of 2020 by 21 per cent from Rwf172B to Rwf 208B as of end September 2020, the financier’s financials show. Despite the pandemic, economic slowdown and uncertainty, the Bank maintained operations including lending to its...

Monday, November 30, 2020, 6:55 AM

FEATURED: What does it take to promote women-led businesses?

Early this year, Alphonsine Uwimana commenced the execution of her business idea which had been in incubation for about two years dubbed Ikaze Luggage Storage. At the time, as a first-time entrepreneur, she said she lacked insights to aspects such as market structure, storytelling among others...

Monday, November 30, 2020, 12:00 AM

BPR reassures clients ahead of KCB acquisition

Banque Populaire du Rwanda Plc has reassured its clientele that it will not cease or halt business engagements despite the ongoing acquisition by KCB Group. The two entities on Thursday morning announced the commencement of an acquisition of a 62.06 per cent stake in Banque Populaire du Rwanda...

Friday, November 27, 2020, 12:00 AM

KCB in process of acquiring BPR

KCB Group is in the process of acquiring a 62.06 per cent stake in Banque Populaire du Rwanda Plc which is owned by Atlas Mara Group. KCB Group, a Kenyan based financial services holding company with presence across the region and Atlas Mara on Wednesday, 25th November 2020 entered a share...

Thursday, November 26, 2020, 9:37 AM

RSSB’s next plan? Homes at Rwf35m

In an attempt to address the growing deficit of affordable housing in the City of Kigali, Rwanda Social Security Board (RSSB) has announced plans to ‘soon’ break ground for a housing estate that will deliver homes for as little as Rwf35 million. This is part of the plan by...

Wednesday, November 25, 2020, 12:00 AM

Lending rates drop, albeit slowly

Rwandan banks’ lending rates have declined, though minimally in response to central bank rates and monetary policy framework, the latest figures from the Central Bank show. According to the central bank’s Monetary Policy Committee, the average lending rate dropped in 2020 to 16.31...

Tuesday, November 24, 2020, 12:00 AM

Why RSSB is pushing to become autonomous

The Rwanda Social Security Board (RSSB) will soon gain more autonomy from the state in terms of governance, following the approval of a draft cabinet paper that provides the legal framework paving way for the move. The process is subject to parliament’s approval and if all goes according...

Monday, November 23, 2020, 12:00 AM

Covid-19 crisis has widened gender disparity — Kagame

President Paul Kagame has called for action against continued structural gender disparities saying that it shouldn’t be the case in a truly inclusive and sustainable future. The President was speaking at the virtual G20 summit on Building an Inclusive, Sustainable, and Resilient...

Sunday, November 22, 2020, 7:34 PM

Ethiopian deputy Premier briefs Kagame on ongoing crisis

Ethiopia’s Deputy Prime Minister and Minister of Foreign Affairs Demeke Mekonnen was in Rwanda on Tuesday to brief President Paul Kagame on the ongoing crisis that has made global headlines. Demeke and his delegation were delivering a message from Ethiopia’s Prime Minister Abiy Ahmed...

Wednesday, November 18, 2020, 12:11 PM

Bank of Kigali’s data systems failure hamper services

A number of Bank of Kigali’s services have been unavailable beginning the weekend leaving thousands of clients stranded or seeking alternatives. The Bank has explained the challenge as resulting from a power incident on the primary data centre which led to equipment failure and multi-...

Tuesday, November 17, 2020, 3:31 PM

Govt reviews conditions for recovery fund amid low uptake

The Government is reviewing the terms and conditions for local firms eligible to receive the Economic Recovery Fund to increase the number of local businesses eligible for the support. The Rwf100 billion Economic Recovery Fund was launched in June to aid the recovery of local businesses...

Monday, November 16, 2020, 6:37 AM

Experts weigh in on new Rwanda Finance Limited board members

The appointment of a 7-member board of Rwanda Finance Limited has excited industry enthusiasts and stakeholders largely due to the profiles and diversity of the appointees. Rwanda Finance Limited (RFL) is a corporation owned by the government whose primary responsibility is to develop and...

Friday, November 13, 2020, 12:10 AM

Central Bank explains franc depreciation

Recent months have seen the market value of the Rwandan Franc against the dollar depreciate fast with the rates in a majority of forex bureaus nearing Rwf1000 for Dollar. The subject was on the agenda of the Central Bank’s quarterly Monetary Policy Committee (MPC) meeting, held on...

Friday, November 13, 2020, 12:00 AM

Ex-Credit Suisse boss appointed Rwanda Finance Limited board chair

Tidjane Thiam, a renowned Ivorian banker who is the immediate former Chief Executive Officer of Swiss bank Credit Suisse, was on Wednesday, November 12, appointed by cabinet to head the Board of Rwanda Finance Limited. Rwanda Finance Limited (RFL) is a corporation owned by the government...

Thursday, November 12, 2020, 11:47 AM

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

The central bank has maintained its key repo rate at 4.5 per cent aimed at encouraging continued lending to the private sector to support economic recovery following the Covid-19 pandemic which has caused economic slowdown. This followed the quarterly Monetary Policy Committee (MPC) meeting...

Thursday, November 12, 2020, 11:04 AM

Kigali International Financial Centre - 5 things you need to know

Kigali International FinancialCentre (KIFC) has been in the news in recent months with huge expectations on its role in the country's economic development. However, there still exists questions on the Centre, its ambitions and affiliated institutions. Below are key points about the...

Thursday, November 12, 2020, 2:13 AM

Inside World Bank’s $1.2 billion investment in Rwanda

The World Bank Group last week launched a 6-year Rwanda Country Framework for the period between 2021 and 2026 which will see up to $1.2 billion invested by 2023 across key sectors. The partnership framework and funds committed are expected to play a role in the recovery from the economic...

Monday, November 9, 2020, 7:54 AM

Germany to disburse Rwf113bn in Rwanda in 2 years

Germany has committed to disburse 113.5 billion in Rwanda over the next two years with funds earmarked for decentralization and good governance, sustainable economic development, Technical and Vocational Education and Training as well as climate protection. The commitment follows virtual...

Wednesday, November 4, 2020, 10:15 PM

WB to disburse $1.2bn to Rwanda in three years

The World Bank Group will inject an estimated $1.2 billion (approximately Rwf1.1 trillion) as part of the Rwanda Country Framework for the period between 2021 and 2023. The partnership framework and funds committed on Monday this week are expected to play a major role in the country’s...

Wednesday, November 4, 2020, 1:20 AM

What next for stock exchange after 10 players milestone?

The Rwanda Stock Exchange this year gained two additional players to reach the minimum 10 players requirement for consideration under the World Bank Doing Business Report’s protection of minority investors indicator. This follows the entrance of two new players; cross listing of RH Bophelo...

Tuesday, November 3, 2020, 8:00 AM

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