Rwanda reaps big from coffee, tea export Last week, the National Agriculture Export Board (NAEB) announced that Rwanda’s foreign exchange earnings from tea and coffee rose by 8.9 per cent and 34 per cent respectively in 2011. Coffee revenues obtained last year, 2011, were US$75m and 34 per cent higher (US$56m) than those generated in 2010. This was due to favorable prices on the international market and most importantly thehigh demand for the country’s high quality output. The year 2010 was considered the high cycle where production was expected to be higher compared to 2011 but 2011 targets for coffee revenues were exceeded by 3 percent making these are the highest revenues obtained in the coffeeexports in the Rwanda. Reality show boots entrepreneurship The chairman of the Private Sector Federation, Faustin Mbundu, says that Inspire Africa’s business competition reality show will help inspire young entrepreneurs to set up businesses needed to provide a strong backbone to the private sector. The Business Competition reality show is a project initiated by Inspire Africa where participants drawn from across the region present their ideas and go through business tasks. The participants are thenevicted at intervals until few are left for a grand finale. Mbundu is optimistic that the programme will invigorate competitiveness among Rwandan entrepreneurs to enable them to compete within the East African region and Africa. Norwegians explore investment opportunities Last week, Several Norwegian investors and experts, who attended a one-day seminar Under the theme ‘Develop and Expand your Business - Networking and Financing Possibilities’, organised by the RwandaDevelopment Board (RDB), in collaboration with the Norfund (Norwegian Investment Fund for Developing Countries) and the Royal Norwegian Embassy. Dutch tourists to Rwanda surge The number of Dutch tourists to Rwanda increased by 30 per cent between January and September last year, boosting overall European visitors by 6 per cent. Netherlands comes sixth after United Kingdom in terms of tourists to Rwanda. The increase is a result of Rwanda’s constant participation in the Vakantiebeurs, an annual Dutch tourism fair which is held in the Netherlands. Ignorance undermines access to loans The Association of Microfinance Institutions f Rwanda last week said that Limited knowledge about the products, costs as well as charges by financial institutions is halting access to finance for small andmicro businesses. It is believed that most borrowers in Rwanda lack basic knowledge about financial products offered by lenders. dias.nyesiga@newtimes.co.rw
