RwandAir makes inflight changes ahead of reopening

With about two weeks to the resumption of flights on August 1st, National Carrier RwandAir is working on changes with an aim to improve the safety of passengers amid the Covid-19 pandemic. Like other airlines across the world, RwandAir will be making adjustments on a number of inflight...

Thursday, July 16, 2020, 9:10 PM

Kinuma moves to head TransUnion from Mobicash

Credit risk management firm TransUnion has named Emile Kinuma as its new Rwanda Chief Executive. Kinuma was until recently the Chief Executive of Mobicash, the popular mobile payment and Fintech Company. The global information and insights company’s announcement comes as at a time when...

Tuesday, July 14, 2020, 12:28 AM

World Bank outlines Rwanda's 6-year support framework

The World Bank Group Board of Executive Directors on Monday 13th July discussed the Rwanda Country Partnership Framework (CPF) for the period 2021-26. Partnership framework will guide the Bank Group’s work for the next 6 years supporting the government’s strategic priorities as laid...

Tuesday, July 14, 2020, 12:27 AM

How Kigali's Financial Centre is progressing amid global capital constraints

In 2019, plans to establish Kigali International Financial Centre picked up pace and a formal launch had been scheduled to take place on the sidelines of the Commonwealth Heads of State and Government Meeting. Kigali International Financial Centre (KIFC), an initiative by the...

Monday, July 13, 2020, 12:00 AM

Kagame speaks out on cross border trade challenges

President Paul Kagame has spoken out on trade and cross border cargo movement that Rwanda is currently experiencing noting Rwanda’s readiness to engage neighbours in search of a solution. The President was speaking Friday July 10 during a broadcasted live Instagram session ...

Saturday, July 11, 2020, 2:14 AM

Tourism begins to pick up, thanks to local travellers

The local tourism sector is showing signs of recovery following the reopening of the sector on June 17, preliminary statistics show. Statistics from Rwanda Development Board (RDB) show that major facilities across the country are starting to see a growth in traffic with the optimism of...

Thursday, July 9, 2020, 10:47 PM

Rwanda receives Rwf152bn boost for skills development

Local skills development and market relevance ambitions on Wednesday, July 8, received a boost of a total of Rwf152 billion following the signing of two financing agreements with the European Union and the World Bank. The two financing agreements were signed by the Ministry of Finance and...

Thursday, July 9, 2020, 12:25 AM

RRA collected 93% tax in 2019/20

Rwanda Revenue Authority (RRA) collected 93 per cent of the agency’s revenue projection for the just-concluded 2019/20 fiscal year. The agency managed to collect Rwf1,461.3bn from a target of Rwf1,568.5bn, according to RRA Commissioner General Pascal Bizimana Ruganintwali....

Friday, July 3, 2020, 12:00 AM

One&Only resort supporting communities amid Covid-19

One&Only resorts in Rwanda have rolled out support to communities in Gisakura and Kinigi where the two ultra-luxury resorts, One&Only Nyungwe House and One&Only Gorilla’s Nest are located. Considering the coronavirus pandemic which has affected the livelihoods of...

Tuesday, June 30, 2020, 2:22 PM

Crystal Telecom, MTN Rwanda project 12% revenue growth

Crystal Telecom and its associate firm, MTN Rwanda are projecting revenue growth in 2020 of about 12 per cent buoyed by increased Mobile Money and data usage. This emerged at Crystal Telecom’s Annual General Meeting virtually on June 29. Crystal Telecom holds a 20 per cent stake in MTN...

Tuesday, June 30, 2020, 12:04 AM

Crystal Telecom approves dividend payout of Rwf1bn profit

Crystal Telecom, which holds a 20 per cent stake in MTN Rwanda has approved a dividend payout of Rwf1,006,141,541 with shareholders set to receive a payout Rwf 3.72 per share. At the Annual General Meeting held virtually on Monday, June 29, the shareholders approved the payout which will be...

Monday, June 29, 2020, 1:57 PM

Why financial institutions will not pay out dividends in 2020

Shareholders of local financial institutions will not be receiving dividend payout for 2019 profits in the course of this year as is usually the case. Dividends for profits of a given are usually paid out in the course of the following year, 2020 will be an exception. This is in compliance...

Sunday, June 28, 2020, 11:34 PM

How government will fund 2020/21 budget amidst financial constraints

Unlike previous budgets, the 2020/21 budget presented to parliament earlier this week did not specify any new fiscal policies to boost revenue mobilization. While previous budgets are often analyzed in the context of winners and losers, the recent budget whose implementation will start...

Thursday, June 25, 2020, 1:55 PM

Atlas Mara explores further acquisition options

Atlas Mara Group, which owns Banque Populaire du Rwanda will continue to explore options in pursuit of adjustment towards improving performance in core markets, streamlining the holding company structure and related costs, and exiting or partnering in certain countries. Following the end of...

Thursday, June 25, 2020, 12:03 AM

Local event company repurposes operations to groceries delivery

Before the Covid-19 pandemic, RG-Consult Inc was synonymous for live events in Kigali with the monthly Jazz Junction concerts hosting local, regional and international artists. However, when the pandemic struck, the local events scene was one of the most severely affected with physical concerts...

Thursday, June 25, 2020, 12:03 AM

Kagame invites US investors to Africa’s economic recovery process

President Paul Kagame encouraged American investors to participate in economic opportunities as Africa emerges out of the Covid-19 recovery process for mutual benefit. The President made the call while opening the four-day Corporate Council on Africa (CCA) Leaders Forum. CCA, which was...

Wednesday, June 24, 2020, 12:23 AM

BPR introduces card-less transaction at agent outlets

The Rwandan banking scene is witnessing further innovation following the introduction of card-less transactions at Banque Populaire du Rwanda agent outlets (popularly known as BPR Hafi Agents). Banque Populaire du Rwanda Plc (BPR Plc.) has improved clients’ convenience at agent outlets by...

Wednesday, June 24, 2020, 12:23 AM

Why Equity Bank’s plans to acquire BPR have been called off

The planned acquisition of 62 per cent stake in Banque Populaire du Rwanda Limited (BPR) by Equity Bank Group has been called off. The acquisition talks that opened in April 2019 and a binding term sheet signed to allow for due diligence. However, Equity Bank has terminated...

Tuesday, June 23, 2020, 11:16 AM

I&M Bank to raise Rwf10 billion by rights issue

I&M Bank Rwanda PLC will in the course of the year be seeking to raise Rwf10bn by rights issue in a bid to capitalize operations of the bank. The rights issue will see existing shareholders of the bank  existing shareholders offered an opportunity to buy more shares in proportion to their...

Tuesday, June 23, 2020, 12:00 AM

Central bank reinstates mobile money charges

After three months of free mobile money transactions, charges will be reinstated on Monday 22nd June according to an announcement by the Central Bank. The charges had been suspended for a 3 month period on March 18th to encourage uptake of cashless payments and reduce cash handling...

Friday, June 19, 2020, 1:38 AM

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