IGIHE

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  • School honours Students,teachers killed in genocide

    {{ {Construction is set to takeoff at the school of a Frw 15M documentation centre in memory of the students and teachers that perished in the 1994 Tutsi genocide that left a million people dead. }
    }}

    Lycee de Kigali (LDK) has honoured 13 students and 24 teachers that were massacred at the school in the 1994 genocide against the Tutsi.

    A group of 150 students and 35 teachers travelled to Ntarama genocide memorial centre in Bugesera district and received explanations on how genocide was prepared and shown tools used to kill people during the genocide.

    “We learned a lot during the visit especially focusing on the future while rebuilding our nation,” the school director Martin Masabo said.

    In an interview with{ Igihe.com}, Emily Mworoha, the Chairperson of the survivors association (AERG) at LDK said during the week, students were lectured about Rwanda’s history with particular emphasis on the 1994 Tutsi genocide that left a million people dead.

    “The information provided during the week will help us in knowing better where we are coming from and where we are heading to,” he pointed out.

    AERG association at LDK introduced the idea of building a memorial site at a cost of Frw15M that will be a centre of documentation for other schools. The school’s administration will cater for its construction.

  • Rwanda honey wanted in Middle East,Europe

    By: {Igihe.com} Reporter

    {{Export opportunities await honey producers in Rwanda following the increasing demand of the country’s high quality honey on the international market.}}

    According to the Rwanda Bureau of Standards (RBS) Director General Dr. Mark Cyubahiro Bagabe, Rwanda honey is on high demand in big markets of the Middle East and Europe. “But the challenge is the low production volume”, he notes with concern.

    In response to increasing export, quality Dr. Bagabe reveals that, “RBS has adopted a multiple-pronged approach aimed at ensuring compliance of Rwandan honey with international Standards”.

    The Bureau has since offered training to local honey producers on the aspects of producing quality honey targeting the whole value chain. Currently RBS has certified five honey-processing companies and some are already exporting their products.

    Dr. Bagabe advises farmers to opt for high volume beehives that would increase quantity of honey produced. During harvesting, farmers are advised to avoid using smoke (smoke contains a chemical dioxin) feared to be a cancer agent(carcinogenic).

    Florida Uwamariya the Accounts administrator of Rwanda beekeeping services center has told {Igihe.com}, “Our sector has registered remarkable growth. Beekeepers are enjoying the fruits of their work and the sales volume has been ever increasing.”

    Uwamariya notes that honey quality improved after farmers received training in methods of safe extraction, post harvest honey management and packaging. “We are looking at how we can maintain hygiene and quality honey processing and setting up scale processing equipment to upgrade the quality standards and produce”, she said.

    The International demand for Rwanda honey is largely credited for its naturalness much of which comes from the country’s endowed forest and eco system. Uwamariya says that the demand for Rwanda honey is expected to boost incomes of women that are mainly involved in the honey sector.

  • Youths urged to stay away from illicit drugs

    A 14-day campaign aimed at fighting aganist ilicit drugs has kicked off in Kigali city.

    Samuel Hakuzimana the National Youth Forum Coordinator in Gasabo district explains, “We organized this campaign because the problem is prevalent among the youth and we also find that if we as youth do not have sustainable life, our country is heading nowhere. We are the country’s future leaders”.

  • 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.

  • 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.

    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.