Sunday 20 August 2017
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal of establishing a true partnership for the future", Lighthizer said. "By lowering barriers and tackling other constraints that impede trade and investment, we are poised to see U.S.-Africa trade flourish", he said, underscoring that "much...
(Others 08/08/17)
Tea growers and residents in Nyamasheke and Rusizi districts have resolved to begin consuming their own tea instead of imported tea. “It’s unbelievable. We only drink our own tea in hotels in Kigali. A cup of tea costs more in hotels yet I can have the same cup here locally without having to travel” said Emmanuel Nzayisenga one of the tea farmers. For over 50 years tea farmers from Shangi, Ruharambuga, Bushenge, Nkungu, Karengera and Giheke sectors in both districts have been consuming imported tea packed in sachets from Uganda and Burundi. “After considering validity of tea farmers complaints, we agreed that part of processed tea will be sold to farmers and the rest exported as usual,” said Azalias Niyibizi,...
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year,...
(AfricaNews 08/02/17)
Three young technology entrepreneurs in Rwanda have decided to take on the job of providing free app development skills and training to the youth in the country. The trio – Ildephonse Mungwarakarama, Theogene Niyonsenga and Jerome Habimana – started a company in 2014 called House of Technology. Their aim is to bring technology to the youth all over the country so as to improve academic outcomes and prepare the future workforce. They launched a programme last week called Code for...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands...
(AFP (eng) 07/31/17)
In a two-year-old mall in Kigali's city centre, bored shopkeepers chat idly as muzak echoes through the quiet interior, with barely a client in sight on a weekday morning. The gleaming building is one of several developments that have shot up in the Rwandan capital, a window to an ambitious future in which a thriving middle class built on a services-based economy will have replaced a nation of largely poor, rural farmers. But the Rwandan dream is decades away and...
(AFP (eng) 07/31/17)
Rwanda's ruling party has tightly controlled the political sphere for over two decades, but it is also accused of monopolising the economy via its very own conglomerate: Crystal Ventures. The investment arm of the Rwandan Patriotic Front is the country's top private employer, with assets estimated at $500 million (426 million euros). It is present in almost every sector, from food processing to private security, building materials and real estate. The company, formerly named Tristar, was born in 1995, a...
(APA 07/31/17)
APA-Kigali(Rwanda) - The Rwandan government is currently accessing the potential of all secondary cities as it seeks to distribute headquarters or key departments of parastatals across different parts of the country, reports said on Monday. The move, according to Rwanda Housing Authority (RHA), aims at boosting economic activity in secondary cities that have been designated in different regions of the country. The six secondary cities are Musanze in Northern Province, Nyagatare in Eastern Province, Huye and Muhanga in Southern Province,...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15...
(The New Times 07/27/17)
The Minister for Trade, Industry and EAC Affairs, François Kanimba, has commended 'Get It Rwanda', a local company that washes and processes fruits and vegetables mainly for export purpose. He made the remarks Tuesday during his visit to the plant located in Kicukiro District. The company recently acquired ISO 22000, the highest level of food safety certification, and is the first local firm dealing in distribution of fresh fruits and vegetables to achieve this certification. "The good thing about this...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with...
(AFP (eng) 07/26/17)
Nicaraguan singer Hernaldo Zuniga brought his entire family to trek through the lush forests and mist-shrouded volcanoes of northwestern Rwanda in search of mountain gorillas. He described their encounter with the critically endangered primates as "an almost spiritual" experience, and said it was the only reason they made Rwanda a stop on a trip taking in a safari in Kenya, and a tour of South Africa. But Rwanda is no longer content with being a whirlwind stop on a tourist's...
(The New Times 07/25/17)
The International Monetary Fund is set to disburse about $25 million as part of the Standby Credit Facility of $204 million (about Rwf159.7 billion) approved last year in June to help government keep external reserves above the critical level. The $204 million facility was approved last year at a time when the government was working to tackle diminishing commodity prices and rising import bill which had adversely affected export earnings and put pressure on foreign exchange reserves. The first disbursement...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread...
(AFP (eng) 07/19/17)
Inside a metal shed in southeastern Rwanda, Nicholas Hitimana brandished a plastic container holding a green liquid: geranium essential oil, freshly distilled and ready for export at more than $200 (175 euros) a kilo. The pioneer of essential oils in Rwanda, Hitimana said he understood over a decade ago "the need to develop high-value crops" in his hilly nation of just 2.6 million hectares (6.4 million acres). Agriculture accounts for nearly a third of GDP and employs four-fifths of the...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30...
(The New Times 07/18/17)
The Government and the World Bank on Monday signed a $120 million (about Rwf100 billion) financial agreement to support skills development across multiple sectors of the economy. The 38-year concessional loan, according to Finance and Economic Planning minister Claver Gatete, will mainly focus on priority sectors, including manufacturing, energy, transport and logistics, among other sectors. The 3-year Priority Skills Programme for Growth (PSG) project will focus on high priority economic sectors, including energy, transport and logistics, and manufacturing with a focus on 'Made in Rwanda' products, Minister Gatete said during the signing ceremony in Kigali.
(Xinhuanet 07/18/17)
The World Bank announced Monday 120 million U.S. dollars credit to support Rwanda's skills development. The World Bank's country manager to Rwanda Yasser El-Gammal said the credit facility was expected to help in the implementation of programs under Rwanda's development blueprint, the second Economic Development and Poverty Reduction Strategy (EDPRS2). "It will also help Rwanda achieve its target of creating more than 200,000 off-farm jobs as prescribed in the EDPRS2 blueprint," he said at the signing ceremony of the financing...
(Xinhuanet 07/17/17)
Africa is making progress towards the establishment of a trade zone by Oct. 30 that will cover approximately half of the continent's member states. The Common Market for the Eastern and Southern Africa (COMESA) Director of Trade and Customs, Francis Mangeni, said in a commentary published in the Star Newspaper on Monday that so far 19 of the 26 countries involved have signed the agreement. "Three outstanding annexes had meant the tripartite agreement was not complete and this was advanced...

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