IGIHE

Author: Abou-Shadadi

  • Mrs. Obama wants African women to engage in decision-making

    Speaking at a Young African Women leaders Forum in Johannesburg South Africa, Mrs. Obama has emphasized the need for collaboration among local leaders and the society as a way of enhancing accountability.

    Young African women are encouraged to take part in decision making since their ideas would address some of the challenges in the society.

    Participants at the forum took part in several activities meant to inspire them on the importance of teamwork with leaders in bringing change to their communities. The activities covered entrepreneurship education and health.

    The young women leaders together with the first lady took part in several community service projects. On her part Mrs Obama prepared a kitchen garden which is in line with her campaign to promote nutritious meals especially to those living with HIV/AIDS. It is also known that she has several gardens at the White House.

    Later on the team painted a social hall which will now be used by locals to organize meetings that particularly set a forum for locals to discuss issues affecting their society.

    Mrs Obama formed a Facebook page ‘first lady’s forum with young African women leaders’ to expand the discussion of among young women leaders in Africa.The network will also provide mentors to those in entrepreneurship and those who have income generating activities.

    Through a phone conference with Bruce Wharton , the deputy assistant secretary of state in the African bureau, he explained that the forum was sponsored by the US government and was attended by 76 young African women leaders, including 44 from the host country and 32 from other African countries.

    The young women leaders age are from 16 to 30 years and represent the fields of education, health, civil society, business and the media. Rwanda was represented by Diana Mukundwa a student leader at Kigali’s School of Finance and Banking, at her university she’s also the acting gender minister and board member.

  • Rwandans to gain from buying shares on stock market

    Introduced just less than five years ago, the Rwanda stock exchange market has excited many following the successful acquisition and profiting from Bralirwa shares. Bank of Kigali has revealed plans to issue an Initial Public Offering soon of which Rwandans are upbeat about…

    Robert Mathu, executive director of Capital Market Authority (CMA) has called upon Rwandans; especially the youth to embrace a savings culture most importantly through the acquisition of shares on the Rwanda Stock Exchange (RSE).

    A stock exchange is a marketplace for securities in the form of company shares and government bonds where the general public can acquire shares of a company at a specific fee per share. The shares fluctuate in value depending on the performance of the company.

    Recently Bralirwa, a brewery and soft drink company, sold its shares to the public for the first time; the new shareholders have seen their shares gain value by 62%. This has since encouraged the buying of shares on the stock exchange.

    The stock exchange market in Rwanda started in January 2008, preceded by Capital Markets Advisory Council (CMAC) setup in 2007 as a transitional body responsible for establishing a capital market in Rwanda and writing up regulations.

    CMAC has transformed into the current Capital Market Authority (CMA) a regulatory body of the Rwanda Stock Exchange (RSE).

    During its establishment, CMAC faced a challenge of finding Rwandan companies ready to sell shares on the new stock exchange. The government took the initiative to sell government bonds and set stage for private companies.

    Government bonds are a type of security issued by government, which pays back the money paid for the bond with interest after a certain period of time.

    While waiting for Rwandan companies to issue shares, CMAC ventured abroad. KCB and NMG, companies listed on the Nairobi Stock Exchange, were invited to sell their stock on the newly formed RSE. A company selling its stocks outside its original stock market is usually referred to as cross listing.

    Another major challenge was attracting foreign investors to invest in the RSE. The RSE started during the beginning of the global economic downturn, and foreign investors were cash-tight. Due to its underdevelopment, the RSE didn’t experience much repercussion from the global financial crisis.

    Mathu explains, “CMA is now working on implementing the legal framework and improving on investor protection.” A stock exchange just like any other marketplace needs regulation especially in protection of investors, who are essentially the buyers of securities.

    Mathu also stresses the need for transparency if the RSE is to mature into an efficient capital market. Transparency is especially needed in everyday transactions, transparency during transactions guarantees that sellers and buyers are given fair deals. Investors will be confident of the stock exchange if they see that it is fair and efficient.

    “We intend to introduce an electronic system within the next year. Such a system would improve on speed, transparency and efficiency.” Mathu said, explaining CMA’s future plans.

    The CMA in collaboration with stock brokers have embarked on an initiative aimed at educating the public about the stock exchange. Brokers act as middlemen between buyers and sellers on the stock exchange. As the RSE is still in its infancy, the Rwandan public needs to be educated on benefits accruing from investing on the stock exchange.

    “We have had to invest more time by meeting people on the streets explaining to them the benefits of capital market investments”, explained Shehzad Noordally, general manager of CDH Capital-Rwanda. CDH is a broker firm operating on the RSE.

    Bank of Kigali (BK) has revealed it will issue an Initial Public Offering (IPO) -financial jargon for selling new shares. The bank’s IPO may be another opportunity for Rwandans to make money on the stock exchange.

    BK’s IPO has caught attention of the people. There seems to be confidence for a successful IPO; much like that of Bralirwa, as was pointed out by Shehzad Noordally, “Many people made money from the Bralirwa IPO and have spoken to their friends. People will be happy to invest in the BK IPO.”

    Bank of Kigali hopes to use money from the IPO for small lending to customers, expanding more branches and electronic banking. The bank’s chief operating officer, Lawson Naibo, points out that the stock exchange is the best source for the bank to raise the funds for its projects.

    The stock exchange gives Rwandan businesses a new medium of acquiring cash for investment. The money invested on the stock exchange provides long term capital necessary for continual economic growth. The stock exchange is going to be crucial to maintain Rwanda’s economic growth.

    Increasing investment in the stock exchange by Rwandans will also boost Rwanda’s average income. Stockholders can earn an income through dividends paid out by companies.

    Rwanda has joined fellow EAC countries Kenya, Uganda and Tanzania in having a capital market. All regional stock exchanges have been around longer and are more active than the RSE-the Nairobi Stock Exchange being the most developed.

    The government’s privatisation scheme might see more companies issue shares on the RSE. The Bralirwa and upcoming BK IPO were triggered by the government selling off the shares it controlled in these companies.

    In the near future, the government might sell off more shares in other companies that will give Rwandans more investment options on the RSE. More IPOs may lead to more investment as Rwandans see the profits to be made on the stock exchange.

    Robert Mathu wants Rwandans to know that they can make money while helping build the economy through stock market investment.

  • Who is a Leopard in a Sheep’s skin?

    by Silver Bugingo

    I was reminiscing with a friend also a media practitioner as we analyzed the hottest news headlines in the recent past and our attentions coincided on Victiore Ingabire’s criminal trial and the arrest of criminal suspects, Colonel Norbert Ndererimana and five other co- accused in Kigali by national police.

    It’s indeed a coincidence! Imagine a criminal suspect at the rank of Colonel and head of an armed terrorists with five more co-accused in the rank and file of the FDLR group on a mission to blast bombs again?

    According to the Police Spokesman, Sup. Theos Badege through a police press release issued on June 21, the colonel’s alleged accomplices are Ramathan Sibomana, Ibrahim Niyonzima, Asifat Kansime, Emmanuel Higiro and John Mutabaruka.

    Apparently, all are armed militias who clandestinely crossed borders from their base with a criminal mission to blast grenades in Kigali. Subject to testimonies of suspects, their plans were committing terror acts in Rwanda from their bases- specifically from Binza, Rutchuru, in Virunga national park, North Kivu, Eastern DRC.

    The prime suspects now under the custody of police, voluntarily revealed to the entire Rwandans, on a live Radio-television news cast last night, that they targeted high populated areas, fuel storage facilities and fuel transport vehicles, national leaders as well as diplomats in Kigali.

    This incident happens at a time the controversial leader of yet to be registered FDU-Ikingi political party and terrorist suspect, Ingabire has finally been granted her plea to postpone the beginning of her trial to September, on grounds that her defense team needed more time to extensively study he dossier.Owing to the fact two of her lawyers are foreigners, the documents also had to be translated into English as all have been prepared in Kinyarwanda.

    Of course these are logical grounds upon which any accused cannot be denied time to prepare his or her defense. After all, in principle and practice, the accused are presumed innocent until proved guilty beyond reasonable doubt by a competent court.

    For new readers in and out of Rwanda not conversant with this subject, Ingabire has among many serious charges been accused of promoting ethnic divisionism, setting up of a terrorist organization and collaborating and financing the Rwandan FDLR rebels in the Eastern Democratic Republic of Congo.

    She had been living Europe since the 1994 Rwandan genocide but came back late 2009 with a political ambition to vie for the post of president against the incumbent President Paul Kagame in the recently concluded presidential elections held August last year.

    She wanted to be elected under the auspices of FDU-Inkingi political party. But like anywhere in the world, genuine political ambitions must be pursued within the confines of the law and the reason her political party has never been registered is unquestionable.

    The fact she allegedly helped create terrorist groups threatening national security and public order put her ambitions in question. I say “allegedly” because the onus is still on prosecution’s team to prove her guilty on all or any of the criminal charges.

    What broadens Ingabire’s case is a likely relation with the new terrorist group, besides her co-accused Lt. Col.Vital Uwumuremyi, Lt. Col.Noel Habiyaremye, Lt.Col. Tharcisse Nditurende and Capt. Jean Marie Karuta, that also belong to the same FDLR.

    Like the recent ones, Lt. Col.Uwumuremyi and company that were arrested last year confessed to be close associates to the adventurous Ingabire. This did not and won’t surprise many as we eagerly await the conclusion by the courts of law.

    All I know for sure is that we are now under the rule of law; the courts are now a place anyone can go to seek justice, unlike in the past when there were a handful of judges, advocates and prosecutors who were qualified and experienced to administer justice in the interests of ordinary citizens.

    What sounds unique to me in yesterday’s confession by the arrested militias was the revelation that they received orders from renegade Generals Kayumba Nyamwasa, Patrick Karegeya and Emmanuel Habyarimana through Rwanda National Congress (RNC) and Convention National des Republicains (CNR) respectively to carryout terror attacks in Rwanda.

    To be honest dear readers, when the two former RPA renegade senior officers, Kayumba Nyamwasa and Patrick Karegeya were linked to the bomb blasts that claimed some innocent citizens in cold blood, I was among the many biblical “doubting Thomas’s”. Know why?

    I was so naïve to accept, later on believe that military officer in then Gen. Kayumba’s or Karegeya’s calibre would think of allying with genocidaires he took a key role in defeating during the 1994 liberation! But at the moment, my doubt has waned like a moon.

    It’s normal for comrades in the political arena to fall out due to disagreements in principle and practice and become arch-rivals in a democratic political competition. Yes, Ugandan President Gen. Yoweri Museveni fell out with his former guerilla combatant and personal doctor Col. Dr Kiiza Besigye and Maj.Gen Mugisha Muntu the longest serving army commander it was normal and accepted as such.

    But it’s unbelievable and illogical to many, for such an elite senior officers of Kayumba’s calibre- a lawyer by profession and a freedom fighter to share interests with criminals who masterminded the most inhuman catastrophe that extinguished a million citizens of your own ethnic group moreover! So is there any difference between the renegades and the genocidaires?

    No wonder the two renegade freedom fighters-come-terrorists were convicted on almost all the criminal counts, sentenced to jail for decades and stripped-off the army ranks in absentia. It’s still their right to challenge the court decision and seek for judgment review but of course there’s a time limit for seeking case review or else we take them to be the biblical “leopards in a sheep’s skin.

    bugisr@yahoo.com

  • Kagame reacts to failed states report

    KIGALI, RWANDA: President Paul kagame has rejected claims from a recently released report indicating the status of various states in which Rwanda is ranked as a failed state at position 34 of the 60 countries evaluated.

    Speaking to journalists at a monthly press briefing, President Kagame lambasted the report saying, “If you think Rwanda is a failed state then you must be on another planet”.

    The Failed States Index (FSI) ranks 177 countries using 12 social, economic and political indicators of pressure on the state, along with over 100 sub-indicators.

    In the FSI 2011 report, Rwanda performed poorly under Demographic Pressures, Group Grievances, Human Rights and Factionalized Elites. Other indicators of state vulnerability include Refugees/Internally Displaced People, Uneven Development, Economic Decline, and Delegitimization of the State, Public Services, Security Apparatus and External Intervention.

    Each indicator is rated on a scale of 1-10, based on the analysis of millions of publicly available documents, other quantitative data and assessments by analysts. A high score indicates high pressure on the state, and therefore a higher risk of instability.

    Some sections of foreign press have described Rwanda government as increasing authoritarianism of including further restrictions on the media and opposition groups, thus this affecting Rwanda’s FSI score card.

    Somali was ranked the number one failed state for the fourth consecutive year, citing widespread lawlessness, ineffective government, insurgency, crime and well publicized pirate attacks against foreign vessels.

    President Kagame also attacked rights groups including Human Rights Watch, Amnesty International which have called the Rwandan government repressive and criticized the soon to conclude Gacaca courts.

    “Gacaca handled over a million cases and allowed people to settle back in their homes and live together and it cost us only 25 million dollars. But some people think we should spend 2billion dollars as they did ICTR yet they only tried 58 people.” He continued, “I don’t care who HRW is. I have never gone to Amnesty International for help so I don’t give a damn about them,” he said.

    Regarding warnings given by the United Kingdom to dissidents living in Britain, Kagame said, “There is something fundamentally wrong. I can’t explain these rumors because I don’t know where they came from. But you don’t apprehend just one person and then hold the government of Rwanda responsible,” Kagame said questioning the rationale of UK officials stopping a suspected assassin but then releasing him the same day.

    Kagame also responded to assertions that Rwanda could experience a new form of colonialism through its relationship with China and other developed nations, “Rwandan will not accept neo-colonialism from China or the West. The days of colonialism are over. If we can’t agree how to invest for the both of us then we won’t have it”.

  • RSE market highlights as at 23 June

    Today the RSE recorded one transaction of 1,000 BRALIRWA shares traded at Rwf 220; the closing price for the last 5 trading days and the total turnover for the day was Rwf 220,000.

    BRALIRWA had the first Annual General Meeting (AGM) after going public last Tuesday, June 21st, 2011 and the company’s books were also closed on the same day. Dividends will be paid on July 21st, 2011.

    At the close of business, there were outstanding offers of 21,900 BRALIRWA shares at Rwf 220 and 2,100 KCB shares at
    Rwf 180 and no bids.

    KCB and NMG counters did not record any transaction today and their share prices remained unchanged from yesterday’s closing prices of Rwf 175 and Rwf 1200 respectively.

  • Gov’t to compensate animal attack Victims

    The loss of crops and vandalism caused during a recent impromptu invasion by about 70 stray elephants from Akagera national park has prompted government in passing of a compensation bill into law that provides for compensation of residents attacked by wild animals.

    The lawmakers on 20 June 2011 deliberated on the new law that directs the state to compensate persons attacked by wild animals from any gazzetted national park including any other place during official duty.

    Specific provisions of the law include; awarding compensation to members of family of victim including both child and adult attacked and killed by the wild animals.

    Compensation shall be awarded to the child or adult victim both attacked and injured or hurt or affected in any form by the wild animals.

    Lastly, compensation shall be awarded to a child or adult whose property has been vandalized by the wild animals.
    elephant.jpg
    In the recent attack by a herd of elephants, no deaths were reported however, three residents were injured during the invading massive herbivores that also destroyed more than 80 hectares of crops valued at over frw 6Million.

    Intervention of a noisy RDF helicopter scared the elephants away until the elephants returned into the park.

    In February the governor of Eastern province Aisha Kirabo kacyira had promised that residents in the area attacked by invading animals from the national parks would be compensated, “the long standing issue of Park animals, is about to be resolved…it was discussed at all levels. Very soon, victims will start to get compensation, so no more worries”.

    additional reporting by Andrew Kareba

  • Gov’t to strengthen craft business

    The minister of trade and industry Mr Francois Kanimba has announced that government plans to establish a permanent exhibition that would strategically promote and strengthen the untapped handcraft business.

    Speaking at the launching of the annual Handcraft Excellence Award program at Amahoro stadium Remera recently, Kanimbla said, “The event aims at promoting handcraft business by showcasing craft products and making people more aware. We also aim at supporting the business by evaluating and finding for challenges handcrafters are facing and obtaining solutions both individual and collective. However, some of these problems they face are unknown”.

    The weeklong exhibition aims at honouring talented artisans from across the country for their innovative achievements while supporting their work and displaying their inventive and inspiring creations.

    The tight competition started with 455 participants in 11 categories from 30 districts across the country narrowing down to 92 selected artisans currently competing at the country level. The handcrafts include imaginative works for various home decorations, products made from recyclable material, basket weaves, fruit processed products, leather and hides products among many others.

    Handcraft sector has great potential for improving standards of living by generating substantial income and providing employment opportunities and could help regulating the trade deficit through exportation of handcraft products.

    Mukandoli Judith an ex farmer and founder of COOPAFU association at Nyamagabe says “ Things have turned out much better for me and my family , I can afford to pay for my children’s school fees while before it was quite a struggle to do so “.

    The craft business that targets women and disabled people has consequently spawned a positive impact among some of the artisans.

    Antoine Bangandwinshi of KOVADI association specialises in producing goods from recyclable materials has been an artisan since 2008 says “, Even though we struggle to get market for our products the standards of living are still better compared to when I was still a farmer 4 years ago. ”

  • Ex. German President to invest in Rwanda

    The former German president Prof.Horst Köhler recently announced his intentions to invest in Rwanda inspired by the country’s sustainable development.

    “I have particularly chosen to invest in Rwanda because of the country’s sustainable development compared to other countries in the region,” Kohler noted while emphasizing that the proper investment atmosphere seen in Rwanda has motivated him and mobilised other German investors to consider investing in Rwanda.

    Köhler also met with President Paul Kagame at village urigwiro.

    According to Foreign Affairs Minister, Louise Mushikiwabo , the former German leader wants to contribute to the development in the region where Rwanda is located, “Kohler wants to know much about the ongoing regional integration and devise appropriate ways of partnering with the region’s investors”.

    Köhler of the Christian Democratic Union in German was first elected in May 2004 and was re-elected five years later in May 2009. He also led the International Monetary Fund (IMF).

    During his east African tour Köhler also a distinguished economist held high level round table discussion held to address East African Community (EAC) integration, under the theme “Ambition for and reality of the EAC in globalized world.

    Köhler said, “the EA Monetary Union will never happen in 2012 or anytime soon and the process should never be rushed,” he said, adding that if the project is to be executed carefully and practically, then the EAMU should happen in ten-years or so from now, that is if the European Union experience is anything to go by”.

    “We started negotiations in 1991 and the European Monetary Union only got established in 1999 and the single currency coins began rolling out in 2001, which means it was a decade-long process,” said the former German President.

  • Police arrests Kayumba’s grenade syndicate

    Rwanda National Police in conjunction with other security organs have arrested a terror network on a mission to conduct terror activities in Rwanda.

    The arrested criminals are led by Colonel Norbert Ndererimana commonly known as Gaheza who heads an armed group based in Binza, Rutchuru, in Virunga national park, North Kivu, Eastern DRC.

    Colonel Ndererimana was arrested with Ramathan Sibomana, Ibrahim Niyonzima, Asifat Kansime, Emmanuel Higiro also known as Kabasha and John Mutabaruka.

    Investigations have shown a strong link between this group and Kayumba’s terror activities. They have testified how they received orders from Kayumba and Emmanuel Habyarimana through Rwanda National Congress (RNC) and Convention National des Republicains (CNR) respectively to conduct terror activities in Rwanda.

    They have been receiving financial, material and political support from Kayumba’s extensive network in Uganda and DRC to commit terror acts and wage war on Rwanda.

    The arrested terrorist criminals revealed their plans of committing terror acts in Rwanda from their bases in Eastern DRC.

    They were to target high populated areas, fuel storage facilities and fuel transport vehicles, national leaders as well as diplomats.

    This revelation has been corroborated by earlier investigations linking Kayumba to terror activities in Kigali and his alliance with other terror groups operating from outside of Rwanda.

    The Rwanda National Police take this opportunity to thank members of the public who have provided vital information that led to the uprooting of this terror network.

    It assures the public of their security against these terrorists. Every effort will be done to bring the terrorists especially their leaders to justice.

  • 21 days of Yellow Care to save environment

    A total of 3300 trees have been planted during a 21-day MTN ‘yellow care’ campaign at six sites in Kigali city and upcountry.

    Speaking at the conclusion of the ‘yellow care’ campaign at Rulindo district, the MTN Rwanda CEO Khaled Mikkawi noted, “It has been 21 days that have made a difference and will continue to make a difference. Almost one million nursery bed trees will in the near future help all Rwandans”.

    Mikkawi commended the existing strong public-private partnership particularly the great collaboration the company has enjoyed with the Rwanda Environment Management Authority (REMA) and the Ministry of Local Government through various district authorities and the City Council of Kigali.

    Present at the ceremony REMA’s Director General, Rose Mukankomeje thanked MTN involvement in environmental conservation saying, “I have noted MTN demanding us to buy airtime and others services which require money. It is good since the company knows where this money is coming from. If Rwanda doesn’t get enough rain, even money to buy such MTN products can’t be seen”.

    MTN CEO Khaled Mikkawi(left) and REMA’s Director General, Rose Mukankomeje(right) preparing a tree nursery bed

    She challenged other business companies to do the same and involve in social activities that are helpful to the community.

    The Mayor of Rulindo district, Justus Kangwagye, hailed the activity as a reward of MTN to the district for the support in buying MTN telephones recently.

    He said that the district through BRD bought telephones worth Frw 35M for the people and that now MTN has rewarded them in greening the environment in the area.

    In further contribution to global conservation efforts, MTN Rwanda will join its sister companies across Africa and the Middle East in planting 150,000trees by December 2011.

    The 150,000 trees target has been set to celebrate MTN Group reaching 150M subscriber mark milestone and each operation will plant a minimum of 7,500 trees.

    The 21 days of ‘Yellow Care’ also involved the construction of two energy saving cooking stoves at a rehabilitation center at Gikondo sector, Kicukiro district and another one at Musha at an orphanage and building terraces for soil conservation including waste management and recycling activities in Kigali and Rulindo district.

    The 21 days ended in an event signifying the preparation of tree nursery beds for future tree planting in the district of Rulindo, Bushoke sector and the cell of Mukoto.