Business

Pan-African Parliament views on Africa’s food crisis

There is a need for African governments to come up with sound agricultural policies to address the food crisis in Africa. This was the general commentary made by Parliamentarians at the ninth ordinary session of Pan African parliament in Midrand, South Africa, during a debate on the food crisis in...

Tuesday, May 20, 2008 - 12:00am

Rwanda coffee prices will not dip—coffee authority

Reports that coffee prices on the international markets could dip following a larger than expected yield by Brazil — the world’s largest producer may not affect Rwanda, authorities have said. "We are not threatened by high production. We will produce what we can, and aim at upper quality that...

Tuesday, May 20, 2008 - 12:00am

Uganda Baati moves to Kigali

Rwanda to be regional supplier Uganda Baati Ltd, a Ugandan-based steel processing company has announced the construction of a factory in Kicuciro, one of the suburbs in Kigali City. The factory similar to that they have in Kampala will soon start producing galvanised iron sheets. According to the...

Friday, May 16, 2008 - 12:00am

Tuvugane operators ordered off the streets

Mobile public pay phone vendors usually referred to as Tuvugane, the name of the brand of the product they sell, have been directed off the streets. The police has asked them to operate in booths. The move comes after Business Communication Solution (BCS), MTN and Kigali City Council (KCC) agreed...

Friday, May 16, 2008 - 12:00am

2000 clear VAT, PAYE

About 2000 clients have been cleared this month for VAT and Pay As You Earn (PAYE) duties that have been levied against them. Flavia Busingye, the Rwanda Revenue Auhority (RRA) publicist said the figure is slightly less than last month’s number. Busingye said that the clearance exercise forced RRA...

Friday, May 16, 2008 - 12:00am

CMAC in public awareness campaign

Rwanda Capital Markets Advisory Council (CMAC), a body instituted to oversee the development and regulation of capital markets in the country has embarked on a national public-education campaign. The move is aimed at educating the public about the capital market. It is also aimed at convincing...

Thursday, May 15, 2008 - 12:00am

Thousands rush to pay VAT and PAYE

Rwanda Revenue Authority (RRA) says tax clearance points countrywide were overwhelmed by the large number of tax payers who rushed to pay up before the midnight deadline yesterday. Some of them waited for hours fearing a fine of between Frw100,000—for small tax payers and 350,000—large ones. RRA...

Thursday, May 15, 2008 - 12:00am

Customs union: RRA trains 1,000

Rwanda Revenue Authority (RRA) has intensified its campaign to sesitise Rwandans on benefits of joining the East African Community (EAC). The process that started 6th March this year comes at a time Rwanda is set to join the East African Community Customs Union (EACCU). Rwanda became a member of...

Thursday, May 15, 2008 - 12:00am

Liquidation of Rwandex not soon – coffee authority

Rwanda Coffee Development Authority (RCDA) says Rwandex is still fatigued with debts. The coffee regulators say because of these debts Rwandex’s liquidation now hangs in balance. Alex Kanyankole, Director General, RCDA said that the liquidation process is complex and that it may take many years...

Wednesday, May 14, 2008 - 12:00am

RRA realise target by Frw400m

Set Frw70 billion next quarter The Rwanda Revenue Authority (RRA) collected Frw69 b at the close of the first quarter of this year. This figure exceeds the Frw65b revenue target by 7.1 per cent. The state has therefore asked the tax body to collect Frw70.446 billion next quarter. The next quarter...

Wednesday, May 14, 2008 - 12:00am

BCR to spend Frw540 million on expansion

Rwanda Commercial Bank (BCR) is set to spend Frw540m on an expansion and rehabilitation drive. The move is to handle the increasing number of customers and also penetrate underserved areas in the country. David Kuwana, BCR Managing Director said the growing number of products the bank offers...

Tuesday, May 13, 2008 - 12:00am

Jua Kali expo postponed

The annual Jua Kali Expo that was meant to be held here in Kigali in October has now been postponed to November. The Expo promotes the informal sector, especially those in the craft and art industry. Chantal Magnifique, of the Rwanda Private Sector (PSF) Chambers of Craft, Art and Artisans said...

Monday, May 12, 2008 - 12:00am

EAC ministers on a working visit to China

Infrastructure development high on agenda A delegation of Ministers responsible for affairs of the East African Community (EAC) is on a working visit to the Peoples Republic of China. The delegation travelled with senior government officials of the EAC partner states including Uganda, Kenya,...

Thursday, May 8, 2008 - 12:00am

Audit firms, RRA to net tax evaders

Rwanda Revenue Authority (RRA) and different audit firms have join hands to fight tax evasion. The move comes after RRA’s audit team discovered that auditors connive with tax payers to evade duties levied on them. They were also found not to be declaring imports as required and forging receipts, a...

Thursday, May 8, 2008 - 12:00am

Bird watching: Rwanda to launch

Bird watching tourism should be promoted to diversify other potentials in the sector, an American consultancy group has advised. Officials of the, ‘On The Frontier’ (OTF) believe the move will help government attract tap more export revenues and create more jobs in the country. The group on Tuesday...

Wednesday, May 7, 2008 - 12:00am

Isaka – Kigali railway line: Govts to discuss shareholding

Governments sharing the Dar es Salaam-Isaka Railway line project are to meet in Maputo Mozambique to discuss the share structures in the project. James Musoni, the Minister Finance and Economic Planning said that the three states will discuss which country to own how many shares, how to manage the...

Wednesday, May 7, 2008 - 12:00am

International body to audit vet. services

Experts from the World Animal Health Organisation (OIE) are here to ascertain whether veterinary services in the country meet international standards. Dr. Theogène Rutagwenda, Director General of Rwanda Animal Resources and Development Agency (Rarda) said government requested to be audited. The OIE...

Tuesday, May 6, 2008 - 12:00am

Cogebanque trades 40 per cent shares, to raise capital

Cogebanque has sold 40 per cent shares to Shorecap International, Africainvest and Belgium Investment Company (BIO). The three investors paid Frw6 billion, to recapitalising the bank that had failed to raise Frw5 billion, a legal reserve requirement set by the central bank if a financial...

Monday, May 5, 2008 - 12:00am

Nigeria’s insurance company to build a Frw5.4 billion hotel

Nigeria’s leading insurance company, Industrial and General Insurance (IGI) is to invest at least $10 million (Frw5.4 billion) to construct a hotel in Kacyiru, Kigali City. The investment comes days after the company acquired 35 percent stake in Société Nationale des Assurances au Rwanda (Sonarwa...

Monday, May 5, 2008 - 12:00am

Govt sourcing Frw109 billion to scale up agric. production

A least US$200m (about Frw109b) is to be injected in the agriculture sector. A move that may scale up crop production, boost household incomes and ensure food security in the country. According to officials from the Finance Ministry, the money will finance irrigation and help in soil conservation...

Monday, May 5, 2008 - 12:00am

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