Business round-up

Rwanda will not align its budget calendar with donors Rwanda and her development partners revealed last week, that the country is not mulling over a shift in the budget calendar after successfully aligning to the East African Community (EAC) financial year. This was after media reports suggested that EAC states are set to align their financial year calendars with major donors.
Minister james Musoni on the Budget Day(File photo)
Minister james Musoni on the Budget Day(File photo)

Rwanda will not align its budget calendar with donors

Rwanda and her development partners revealed last week, that the country is not mulling over a shift in the budget calendar after successfully aligning to the East African Community (EAC) financial year. This was after media reports suggested that EAC states are set to align their financial year calendars with major donors.

Media reports in Kenya recently indicated that EAC states of Kenya, Uganda, Tanzania, Rwanda and Burundi are set for a major review of their financial year calendars following pressure from major donors.

However, during a press briefing at a recent joint review meeting between the development partners and government, Dr. Heike Henn, the head of German Development Cooperation poured cold water on the media reports.

He said, “I heard it in the media and was very surprised. We as development partners in Rwanda would not want to see a new change.”

On his part, Elias Baingana, the Director of National Budget at the Ministry of Finance said that the process is not possible since the donor community does not have a harmonised budget calendar, saying that “to suggest that harmonising our budget calendar with donors will increase the amount of Aid given to EAC is absolutely incorrect.”

Rwanda to host regional financial services exhibition

The National Bank of Rwanda (BNR), in partnership with the Private Sector Federation (PSF), are organising the first ever East African Financial Service Exhibition from December 2 - 6, 2009.

This was revealed by Ephraim Karangwa, the promotions and affairs manager at PSF. The initiative, he said is intended to attract public and private companies that are directly or indirectly involved in the financial sector.

“The exhibition will provide a unique sale and marketing opportunity as well as a networking platform for the participants who will attend this important regional event” he said.

So far 10 Rwandan financial institutions, have confirmed their participation as many other foreign institutions continue to register.

The financial exhibition targets institutions like central banks, commercial banks, insurance companies and brokers, pension insurance companies and investment companies.

Besides the exhibition, there will be several activities like debates on financial issues, matchmaking of financial products and investment proposals, as well as a symposium whose main topic will reflect the financial status of the region.

‘Enterprise’ publications unveiled to Rwandans

‘Enterprise Technology’, published by Creative Technology (CT) was unveiled at the MTN Center in Nyarutarama, this week.

CT’s accounts executive Cynthia Mugaga, explained that ‘Enterprise Technology’ is the first solution oriented magazine that features case-based computing technology solutions for the problems in East Africa.

She also said that “the magazine aligns the business to business needs of medium to large enterprises, by creating a platform where problems find solutions.”

‘Enterprise Technology’ will also offer expert opinion; facts and figures that help executives navigate the growing maze of technologies, thus helping them to confidently make technology purchase decisions.

According to Mugaga, the company target is to reach 15,000 key technology buyers/decision makers in Kenya, Uganda, Rwanda and Sudan by December.
‘Enterprise Technology’ is published bi-monthly and distributed in four major countries in East Africa and its neighbours.

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