93% of Rwandans financially included, study shows

Rwanda’s financial inclusion has grown to 93 per cent, according to preliminary findings of a recent Finscope study soon to be launched. Financial inclusion means that individuals have access to useful and affordable financial products and services that meet their needs ranging from...

Thursday, May 21, 2020, 6:01 PM

CHOGM investments not lost, govt reassures

Investment by the government and the private sector in readiness for the Commonwealth Heads of States and Government Meeting which was scheduled for July this year have not been lost or wasted, the foreign ministry has said. Though it is still unclear when the next CHOGM will be held, Foreign...

Tuesday, May 19, 2020, 12:00 AM

Relief for traders as Rwanda, Tanzania solve freight trucks stalemate

It’s a sigh of relief for cross-border traders, especially importers, after Rwanda and Tanzania finally agreed on a solution for cross-border movement of freight trucks. The stalemate had affected the flow of goods into the country as trucks destined for...

Saturday, May 16, 2020, 7:30 PM

Rwanda secures dry port in Kenya’s Naivasha town

Rwanda has secured a dry port in the Kenyan town of Naivasha which could ease the country’s access to the port of Mombasa for exports and imports. The dry port which is located about 560km from the Port of Mombasa will among other things reduce the journey freight trucks have to take for...

Saturday, May 16, 2020, 12:10 AM

Why Burundi and Tanzania were absent at EAC meeting

When Heads of State of the East African Community held a virtual consultative meeting on the Novel Coronavirus pandemic on May 12, two countries were absent: Burundi and Tanzania. This led to questions on the cohesion of the six-nation community. The meeting was led by President Paul Kagame, the...

Saturday, May 16, 2020, 12:00 AM

Rwanda, Tanzania in negotiations over cross-border cargo movement

Foreign Affairs Ministers of Rwanda and Tanzania will on Friday, May 15, hold. discussions on the way forward in regard to cross border movement of freight trucks. The development was confirmed by foreign minister and Government Spokesperson Vincent Biruta in a news conference on Friday morning...

Friday, May 15, 2020, 2:33 PM

Over 170 Rwandans set to be freed by Uganda

There is optimism over the restoration of ties between Rwanda and Uganda as 176 Rwandans currently held in the neighbouring country’s prisons are set to be released in the coming week. This was confirmed by the Minister of Foreign Affairs Dr. Vincent Biruta on Friday morning. Biruta...

Friday, May 15, 2020, 2:25 PM

Inside Rwanda’s Rwf186bn economic recovery fund

The Government will in coming days roll out a special economic recovery fund estimated at over $200 million (approximately Rwf186bn) aimed at supporting local businesses that are hardest hit by the coronavirus pandemic. The fund, according to sources, will help resuscitate the affected firms as...

Tuesday, May 12, 2020, 1:57 AM

Rwanda tourism sector turns to domestic market for survival and recovery

The tourism sector which has taken a hit from the COVID-19 pandemic is one of the country’s top foreign exchange earners and is expected to take longer than the rest of the economy to recover which necessitates implementation of a robust domestic tourism initiative. The sector’s best...

Tuesday, May 12, 2020, 1:38 AM

Rwf800 billion to accelerate Rwanda's economic recovery

Fixing the economic impact of the COVID-19 pandemic could cost the Government over Rwf800 billion over two fiscal years. The spending would propel economic growth rate to an average of 8 per cent by 2022.  With the recent partial lifting of the lockdown allowing resumption of economic...

Sunday, May 10, 2020, 11:16 PM

BPR donates Rwf100 million to support vulnerable communities

Banque Populaire du Rwanda Plc (BPR Plc.) has availed Rwf100 million to support the government's efforts in mitigating the impact of COVID-19 on vulnerable members of society. The Bank’s interventions come amidst the impact of COVID-19 on individuals which has affected cash flow and...

Friday, May 8, 2020, 12:00 AM

MTN Rwanda embroiled in copyright infringement row

Telecommunication operator MTN Rwanda has come under fire for executing a visibility concept allegedly developed by a local creative firm without authorisation. MTN Rwanda and Creaxion, a local creative agency which manages the telecom firm's advertisement and visibility, are...

Thursday, May 7, 2020, 11:50 PM

Government moves to address transport shortage as lockdown eases

Public transport system in Kigali had more demand than supply on Monday May 5, leaving many passengers stranded across the city. The demand followed a decision by the government to lift the COVID-19 lockdown on Monday. As the lockdown was eased, public buses were required to carry fewer...

Wednesday, May 6, 2020, 1:08 AM

Brace for remittances drop, World Bank says

Communities, societies and families that are dependent on foreign remittances should brace for a drop in their source of livelihoods as global remittances are expected to experience the sharpest decline in recent history. This is according to the World Bank Group partly basing on projections of...

Tuesday, May 5, 2020, 12:00 AM

40% of EAC businesses uncertain of continuity amid COVID-19

Over 40 per cent of the businesses in the East African Region are uncertain of their business continuity six months from now due to the COVID-19 pandemic, a survey by the East African Business Council has shown. The survey showed that the pandemic and measures to curb it have generated...

Tuesday, May 5, 2020, 12:00 AM

Will central bank's rate cut accelerate economic recovery?

The National Bank of Rwanda (BNR) is expecting increased private sector lending after it slashed its key repo rate— by 0.5 percentage point to 4.5 per cent. The key repo rate is the maximum rate at which commercial banks invest their money at the central bank. This is the first time in...

Friday, May 1, 2020, 12:00 AM

Central Bank revises key repo rate to encourage lending

The Central Bank has revised downwards its Key Repo rate from 5 per cent to 4.5 per cent with an aim to spur lending to the private sector to support economic recovery amid the Novel Coronavirus pandemic. This followed the quarterly Monetary Policy Committee (MPC) meeting, held on Wednesday,...

Thursday, April 30, 2020, 4:59 PM

COVID-19: Kagame makes case for African cooperation in supplies sourcing

President Paul Kagame has made the case for African cooperation and collaboration in the procurement of equipment and test kits used as the continent battles the Novel Coronavirus. President Kagame was speaking at a virtual meeting of African Union leaders from across the continent chaired by...

Thursday, April 30, 2020, 12:39 AM

Rwanda Pan-African trade fair postponed

The second Intra-African Trade Fair (IATF2020) which was initially set to take place from September 1 to 7 2020 in Kigali has been postponed to September 2021 in light of the COVID-19 pandemic. The decision was reached after consultation by the African Export-Import Bank (Afreximbank), the...

Wednesday, April 29, 2020, 4:42 PM

Government commits to supporting local tourism’s recovery post COVID-19

The local tourism sector will be one of the beneficiaries of the soon to be launched COVID-19 recovery fund aiming at fostering economic recovery of various economic sectors. With the sector among the worst affected by the COVID19 pandemic with the uncertainty of how soon the sector will recover...

Tuesday, April 28, 2020, 1:00 AM

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