Freight forwarders decry ‘unfair’ rules

When Rwandan companies and individuals are importing goods to the country, they procure the services of clearing and forwarding agents who handle the formalities, clearing taxes and necessary documentation. However, the agents who are regulated by the Rwanda Revenue Authority, are now decrying...

Tuesday, February 18, 2020, 12:00 AM

Rwanda on track to host CHOGM – UK Envoy

Does Kigali look like a city hosting CHOGM in less than 5 months? What does a city hosting CHOGM look like? What has not been done yet? Are we even ready? These are some of the questions that Rwandans can often be heard asking out loud in regards to the oncoming Common Wealth Heads of State and...

Monday, February 17, 2020, 12:00 AM

AfDB, World Bank clash over lending to Africa

The African Development Bank and the World Bank have clashed over the latter’s comments on lending to African countries. World Bank President David Malpass on Monday said that some development banks such as the African Development Bank were making already challenging bad situations worse...

Thursday, February 13, 2020, 10:29 PM

Rating agency reaffirms Rwanda’s creditworthiness

Standard & Poor’s (S&P), an international financial services company, has maintained  Rwanda’s rating at “B+” thereby boosting investor confidence in the country. The international credit rating agency observed that the ratings on Rwanda are supported by...

Wednesday, February 12, 2020, 12:00 AM

Kagame condoles with Kenya over death of former president Moi

President Paul Kagame delivered his condolences to Kenyans for the death of the country’s former President Daniel Moi, during a State Funeral Service held at Nyayo Stadium in Nairobi. Moi passed on last week at the age of 95. He was the country’s second President ruling between 1978...

Tuesday, February 11, 2020, 11:56 PM

Trade sector leads in non-performing loans

Trade sector is leading among industries with the highest Non-Performing Loans (NPLs) ratio, the Central Bank says. Following last week’s Financial Stability Committee sitting, the Central Bank noted that NPL’s had generally declined from 6.4 per cent in December 2018 to 4.9 per cent...

Tuesday, February 11, 2020, 12:00 AM

I&M Bank raises limit on unsecured loans

Accessing credit in Rwanda has for long been characterized by rigorous processes and requirements that have been seen as frustrating for many. A local financial institution, I&M Bank is attempting to change the trend. The bank has revised its Éclair Loan product where they will lend up to...

Monday, February 10, 2020, 12:43 AM

Central Bank: Inflation to remain manageable in 2020

The National Bank of Rwanda has maintained the Key Repo rate at 5 per cent following the Monetary Policy Committee meeting held on Friday February 7. The key repo rate is the maximum rate at which commercial banks invest their money with the central bank. A lower rate means that it’s...

Saturday, February 8, 2020, 12:00 AM

Kagame: Beyond using drones, Africans should make them too

Adoption and integration of drone technology can and should go beyond using them to designing and manufacturing them, President Paul Kagame has challenged African countries. Kagame was speaking on Wednesday, February 5 at the opening of the inaugural Africa Drone Forum that is underway at the...

Thursday, February 6, 2020, 12:19 AM

Govt to set up drones operation centre

The government is in the process of designing a drone operation centre that will serve to develop the uptake, training and regulation of unmanned aerial vehicles commonly known as drones. According to Minister of ICT and Innovation Paula Ingabire, the feasibility study for the operation centre...

Wednesday, February 5, 2020, 3:17 PM

Minister Uwizeyimana under fire over alleged assault

Evode Uwizeyimana, the Minister of State in charge of Constitutional and Legal Affairs, has come under fire on social media for an alleged assault on a security guard at a city mall. An eyewitness reported that, during the incident, the minister did not want to walk through a metal detector as...

Tuesday, February 4, 2020, 10:47 AM

Top 5 instances that undermine cashless payments uptake

While the Government, through the Central Bank, has been calling on Rwandans to adopt cashless payments, a few sectors in the local economy make it hard for the general public to adopt cashless payments. With Rwandans making attempts to adopt cashless systems through debit cards and mobile money...

Tuesday, February 4, 2020, 12:00 AM

Uganda commits to releasing Rwandan nationals

The third Quadripartite summit resolved that Uganda and Rwanda would release nationals of each country held and lists were submitted to facilitate the objective. The summit hosted by President Lourenço was also attended by President Tshisekedi of the Democratic Republic of Congo and President...

Monday, February 3, 2020, 12:22 AM

Will the irregular rain patterns have an impact on food security?

There is little chance of food security challenges, the hike of food prices, despite the unusual rain patterns, the Minister of Finance and Economic Planning, Uzziel Ndagijimana has said. The unusual rain patterns and volumes had caused concerns on the potential impact on food security, food...

Monday, February 3, 2020, 12:14 AM

Kigali Green City Project receives Rwf 10B investment

The Kigali Green City project has received its first capital injection from the German Government through KFW Development Bank worth €10 million (Approximately Rwf 10 billion). The German envoy to Rwanda Thomas Kurz and the Minister of Finance and Economic Planning Uzziel Ndagijimana signed...

Saturday, February 1, 2020, 2:55 AM

Integration is not a slogan, it happens by doing the right thing, Kagame says

The integration of regions and communities does not happen just because of slogans, but by doing the right thing, President Paul Kagame has said.   Kagame was speaking at the annual diplomatic corps luncheon which he hosted on Wednesday, January 29, at the Kigali Convention Centre. The...

Thursday, January 30, 2020, 1:01 AM

A look at Rwanda’s effort to bridge the digital gap

With digital transformation being continuously positioned as a key enabler for the country’s development agenda, is Rwanda ready for the transition? A World Bank study and analysis on the subject shows that there is need to adjust approach in a number of sectors to make the most of the...

Wednesday, January 29, 2020, 12:00 AM

Central bank unlikely to revise key repo in February

The central bank is unlikely to reduce the Key Repo rate in February when the Monetary Policy Committee holds its first meeting for the year. The key repo rate is the maximum rate at which commercial banks invest their money with the central bank. A lower rate means that it’s more...

Tuesday, January 28, 2020, 3:19 PM

Government bio-medical waste incinerator finally gets a buyer

The government-owned bio-medical waste incinerator that has been lying idle for about a decade in Kigali City’s Mageragere site in Nyarugenge district has finally found a buyer who will put it to use. The government is expected to hand over the incinerator to the private investor who...

Monday, January 27, 2020, 12:00 AM

Akagera Park records 25% revenue growth

Akagera National Park received more than 49,000 visitors and generated $2.5 million in park revenue last year (2019), a 25 per cent increase compared to 2018. The park’s management said that the revenues made last year account for about 90 per cent of their annual budget. The number of...

Thursday, January 23, 2020, 12:12 AM

Subscribe to The New Times E-Paper