Rwanda lowers fuel prices

Picture By Tomas F
By BOSCO HITIMANA of The EABW

"KIGALI, RWANDA — Rwanda’s trade and industry ministry has announced a fall in fuel prices to about 13.6% effective this month. Both petrol and diesel pump prices have fallen from Rwf875 ($1.57) to Rwf756 ($1.3) per litre."

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Category: Rwanda + Energy + Economy

Written by BOSCO HITIMANA of The EABW

"KIGALI, RWANDA -- At least 307 exhibitors are attending the ongoing Rwanda International Trade Fair that started Thursday 28 in Rwanda’s capital Kigali.

The Annual 11th Rwanda fair, brought together 93 exhibitors from nine countries of which 82 came from other East African Community (EAC) member countries.

The fair which was officially opened by Rwanda’s President Paul Kagame on Thursday, covers a 4,000 square meter ground."

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Category: Rwanda + Economy + Trade + Expo

Tanzania, Rwanda ready for 24/7 customs

Written by EABW REPORTER

"KIGALI, RWANDA- The Rwanda Revenue Authority (RRA) last week launched 16 hour operations at Katuna, Rwanda-Uganda border post to facilitate rapid movement of goods and people.

Katuna is Rwanda’s customs border post neighbouring with Uganda in the west. The initiative on September 1 was presided over by the Deputy Commissioner General and Commissioner for Customs and Excise in RRA, Mr. Torero Eugene.

The exercise saw a fleet of inland and outland trailers moving as late as 8:00 pm.
During the launch, Torero said that the operation is one of the means put in place by the tax administration to facilitate the business community, enabling them to access customs services all day round."

Complete article at "Tanzania, Rwanda ready for 24/7 customs"

Category: Rwanda + Revenue + Taxation + Economy

South Africa’s Blue Financial enters Rwanda, eyes eight towns

Written by EABW REPORTER

"KIGALI, RWANDA - South Africa-based Blue Financial Services has opened a subsidiary in Rwanda, promising to offer competitive loan packages to the country’s growing private sector.

Rwanda becomes the 12th country on the African continent to accede Blue’s operations.

“We will be the first micro financier to offer a range of financial solutions in this country. Interest rates vary on the kind of product as well as the client’s risk profile,” Blue’s chief financial officer, Mr. Grant Chittenden said.

The financier was attracted to launch operations in Rwanda by several reasons key among them being the Rwanda government’s commitment to attract foreign investors."

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Foreign Investors Recognize Allure of Sub-Saharan Africa

By Stephanie McCrummen, Washington Post Foreign Service

"NAIROBI -- To a growing number of foreign investors, sub-Saharan Africa represents much more than the ethnic clashes, coups, bouts of genocide and natural disasters that have scarred many countries in the region. It represents dazzling opportunities to make money.

"If you look at sub-Saharan African markets, they've given annual returns that are substantially better than most around the world," said Ayo Salami, a chief investment officer for Duet, a London-based financial group that inaugurated its first Africa fund in December. "Even this year, most of the economies around the world are not seeing very much growth -- 2 percent would look optimistic. Whereas in Africa, it's been around 6 percent for years. One of the fastest-growing economies in the world is actually Angola, yet the perception is that it's still in a state of war.""

Complete story at "Foreign Investors Recognize Allure of Sub-Saharan Africa"

Category: Rwanda + Economy + Investment + Public Policy

Tourism Rwanda’s top earner, with $80m in half year

By KEZIO-MUSOKE DAVID of The East African

"Rwanda’s revenue from tourism has increased by 15 per cent to record $80 million in the just six months.

This figure has surpassed the $68 million targeted for the entire 2008.
According to officials of the Rwanda Office of Tourism and National Parks — the agency that regulates the tourism industry and the country’s national parks — this improvement in tourism revenue officially makes the industry the number one foreign exchange earner, contributing about 3.7 per cent to the national gross domestic product.

The $80 million earned is a 22 per cent increase on the same period last year, and the tourism agency also envisages that for the remaining months of this year, tourism earnings will peak at $148 million and visitors arrivals will reach 884,220.

Rwanda recorded 408,482 tourists in the period under review, a 3.4 per cent increase from last year’s figure of 390,000 foreign visitors."

Complete story can be found at "Tourism Rwanda’s top earner, with $80m in half year"

Category: Rwanda + Tourism + Economy

Rwanda launches $2m export fund for private investors

By David Kezio-Musoke, Monitor Correspondent

"Rwanda has launched a $2m export fund to help private companies that operate in Rwanda improve their competitiveness in domestic and export markets.

The Rwanda Competitiveness for Export Fund (RWACEF) launched recently by Rwanda’s Investment and Export Agency (RIEPA) will begin with a four-month pilot phase worth $300,000.

The RWACEF initiative comes just weeks after the government announced that it had collected $122m from exports in the first half of 2008 compared to $79m in the same period last year. The move is seen as a posture to enable Rwanda-based private companies to benefit from regional trade and firm up their competitiveness as the market becomes more fluid."

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For more details about the fund guide and application, go to "The Rwanda Competitiveness & Export Fund (RWACEF) Guide and Application Form"

Category: Rwanda + Investment + Export + Economy

Rwanda to build second $50million cement factory

Written by ALEX NGARAMBE of The EABW


"KIGALI, RWANDA-- Rwanda Investment Group (RIG), a consortium of local investors has announced plans to set up a second cement factory worth US$50million.


The company aims at satisfying the increasing cement demand in the country despite fuel crisis that forced price increase.


The chairman of RIG, Mr. Tribert Rujugiro said that the company has already finalised agreements with a Chinese firm, Pengfei Group Co. Ltd to carry out construction work and the factory should be ready in June 2010.


Pengfei Group is a state large-sized enterprise famous for its building materials for industries, homes and abroad exporter of complete set of cement machinery and equipment."

Complete story at "Rwanda to build second $50million cement factory"

Category: Rwanda + Manufacturing + Investment + Economy

Rwanda in big plans to auction coffee online

Written by BOSCO HITIMANA of The EABW

"KIGALI, RWANDA- Coffees produced within Rwanda are under a serious scrutiny to select the best coffees that meet the international coffee quality standards.

Dubbed the “Cup of Excellence”, the competition seeks to select the very best coffees produced in Rwanda that meet the international coffee quality standards.

These coffees are perfectly ripe, carefully picked with well developed body, pleasant aroma and a lively sweetness that only extremely high quality specialty coffees retain.

Each winning coffee has its own flavour signature from the earth where it grows and all have been handcrafted in such a way as to enhance these unique characteristics."

Complete article at "Rwanda in big plans to auction coffee online"

Category: Rwanda + Economy + Agriculture

Cargo delivery from Mombasa port to be done 24 hours daily

By Joseph Olanyo of the Monitor

"It is now official. Cargo delivery from Mombasa Port and all border entry ports to the hinterland land locked countries will now be done 24 hrs seven days a week, a move expected to speed up cargo movement on the northern corridor route.

Police roadblocks that have been hampering free movement of goods on the lucrative sea route have also been reduced from 47 to 15, while trucks with four axle loads have been banned on Kenyan roads. The decision arrived at after a meeting between Kenyan President Mr Mwai Kibaki, ministers and permanent secretaries in various trade ministries on August 11, takes immediate effect."

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Category: Rwanda + Transportation + Economy

Rwanda: Parliament OKs Break Up of Large Utility Provider

From the Rwanda News Agency/Agence Rwandaise d'Information (Kigali)

"Amid a biting electricity and water crisis, government has decided to dismantle the mega utility provider Electrogaz into two separate entities, RNA reports.

A new bill passed on Tuesday by both Chambers of Parliament establishes the Rwanda Electricity Corporation (RECO) for power and the Rwanda Water and Sanitation Corporation (RWASCO) directly charged with water provision.

Electrogaz was incorporated several decades ago to provide electricity and running water to consumers but the large parastatal can barely cope to even keep the few clients mainly in urban centers."

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Category: Rwanda + Energy + Economy + Public Policy

Rwanda: Serena Hotel to Get 15 Million US Dollars Facelift

By Moses Gahigi of The New Times (Kigali)

"In an effort to step up and widen their services in Rwanda, Serena Hotels has earmarked US$15 million (Frw8 billion) to be used in the refurbishment and extension of the Kigali Serena Hotel.

This was revealed yesterday during a press conference held at the Hotel shortly after the construction contract-signing ceremony with the main contractor, Roko Construction.

During his speech, the Managing Director of Serena Hotels, Mr. Mahmud Jan Mohamed, said the refurbishments are geared towards availing superior services to the customer and at the same time play a pivotal role in the growth of Rwanda's economy."

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Category: Rwanda + Tourism + Economy

Rwanda: Agriculture Regains Major Role in Economy

From Rwanda News Agency/Agence Rwandaise d'Information (Kigali)

"Agriculture has moved back as the second biggest contributor to the national economy after a worrying drop seen in the period ending 2006, new macro economic figures suggest.

The service sector continuously contributed most to the GDP at 48%, followed by the agricultural sector that is now adding some 31% to growth, according to the Quarterly Economic Review for January-May 2008 from the National Institute of Statistics."

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Category: Rwanda + Agriculture + Economy

Kibaki announces key transport reforms

From the Business Daily Africa

"Containers at the port of MombasaAugust 12, 2008: President Kibaki yesterday announced far-reaching reforms in the transport sector, allowing 24-hour operations at major border points.


The reforms, which will be implemented in a week will also include a reduction in road blocks on the northern corridor from 46 to 15 — the bare minimum required for security purposes and for enforcing axle load limits.


The border points affected are Lunga Lunga, Taveta, Namanga, Isabenia and Malaba in what is being seen as a huge relief to importers and traders doing cross-border business in Tanzania, Uganda, Rwanda and Burundi and who will now have the opportunity to clear their goods and move them easily throughout the day."


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Category: Rwanda + Transportation + Economy

BHEL achieves breakthrough in East Africa with Maiden Entry in Rwanda

"New Delhi, Engineering major Bharat Heavy Electricals Limited BHEL has achieved one more breakthrough in international business by winning a turnkey contract for setting up a Hydro Power Project in Rwanda.

Significantly, this order for setting up the Nyaborongo Hydro Electric Power Project 2x14 MW is the first order received by BHEL from this East-African country. The company has already established its presence in a number of African nations like Sudan, Libya, Ethiopia, Egypt, Zambia, Tanzania, Uganda, Nigeria, etc.

This success in the East-African region comes close on the heels of a string of recent successes in BHEL's overseas business including maiden entries in the Syrian and Vietnamese power sectors."

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Category: Rwanda + Energy + Economy

Ministry meets target for financial management

By Monitor Correspondent, The Monitor

"Rwanda has recorded a significant improvement in the quality of her public financial management system over the period 2005-2007. This improvement means that the country has met an international agreed target well in advance of its 2010 deadline.

The finding according to a communiqué from the Ministry of Finance and Economic Planning was revealed in the results of thee 2008 Survey on Monitoring the Paris Declaration which asses Rwanda’s progress in the implementation of the Paris Declaration on Aid Effectiveness. This is a high level international agreement between donors and partner countries to increase the quality of foreign aid.

This survey uses an assessment undertaken by the World Bank to score countires on the strength of their system following a six point scale with 1 as the weakest and 6 as the most advanced.According to the survey over the two-year period Rwanda’s score increased from 3.5 to 4.0 which was the agreed target to be reached by 2010."

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Category: Rwanda + Economy + Development

Kenol/Kobil expansion in high gear

Written by Michael Omondi of The Business Daily Africa

"A Kenol petrol stationJuly 23, 2008: Kenol/Kobil has made another acquisition in the Rwandan market as it races to diversify its earnings away from the Kenyan market.

The oil marketer, through is subsidiary Kobil Rwanda, yesterday announced its buyout of STIPPAG from the Rwandese tycoon Gahunde Jean Mafutamingi for an undisclosed fee.

The deal will strengthen the oil marketer’s presence in Rwanda and give it a foothold to enter the lucrative but untapped Great lakes markets of DR Congo, Burundi and Northern Tanzania."

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Category: Rwanda + Investment + Energy + Economy

Rwanda in US$17.5m flower export project

Written by ALEX NGARAMBE/From EABW

"KIGALI, RWANDA–– Rwanda seeks to boost flower exports by cultivating 50-200 hectares of land in flower farming under the project ‘one flower park’ estimated to cost $17.5million.
The project seeks to pull together local and foreign investors to grow quality flowers mainly for export. Currently, a feasibility study is being undertaken on the two identified sites in the country’s eastern and southern provinces.

The sites have access to water, electricity and have favourable climate for flower farming.

“Since these two sites have got all these factors, Rwanda will start exporting flowers in six months,” the chairman of Rwanda Horticulture Development Authority (RHODA), Mr. Peter Muvara said. Muvara is optimistic that the move will increase the country’s flower exports and improve on the quality of the produce."

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Category: Rwanda + Agriculture + Economy

Rwanda: Young Kenyans in $200,000 Investment

A group of Kenyans below the age of 40 on Monday told President Paul Kagame that they have identified projects in the country where they want to invest up to $200,000 (about Rwf 100million).

The 26 Kenyans under a holdings company LK40 said they have decided to invest in Rwanda due to its 'determined leadership' to raise the standards of its people. The delegation had paid a courtesy call on the President.

According to Mr. Emmanuel Hategeka - Executive Secretary of the Private Sector Federation, the young investors will establish a nursing school and a vocational institute - aimed at tackling the skills gap in the country.

Complete article at "Rwanda: Young Kenyans in $200,000 Investment"

Category: Rwanda + Investment + Economy + Educations

Starbucks reaches out to coffee farmers with Rwanda Blue Bourbon Coffee

Starbucks launched its latest Black Apron Exclusive (BAE), Rwanda Blue Bourbon Coffee across most of its stores in the Middle East, the 18th in the line of exceptional gourmet coffees sourced from the best coffee growing regions of the world.

The unique Black Apron Exclusives will help sustain coffee communities around the world through Starbucks awards to farmers for each BAE coffee produced. The production and sale of this high-quality unique specialty coffee will significantly help Rwanda's economy, and enable Rwandan farmers to improve their homes, afford medical care and provide educational opportunities for their children, through these Starbucks awards.

Complete story at "Starbucks reaches out to coffee farmers with Rwanda Blue Bourbon Coffee"

Category: Rwanda + Economy + Agriculture