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  • Ghana to Issue First 7-year Local Currency Bond Next in August

    {{Ghana plans to issue its first 7-year domestic bond next month in renewed efforts by the cocoa, gold and oil exporter to borrow over longer terms, the country’s treasury head said on Friday.}}

    Adams Nyinaku told Reuters the 100 million-cedi ($49 million) bond, open to offshore investors, will be used to benchmark subsequent bonds and manage debt more effectively.

    The West African nation is currently paying yields of over 20 percent on its 91-day bills.

    The central bank will also issue 600 million cedis worth of 5-year bonds in September, mainly to roll over maturing debts, and another 7-year paper worth 100 million cedis in November to support current projects, Nyinaku said.

    “This is the first time we are going to issue a 7-year bond and it is as a result of the government’s commitment to use medium- and long-term papers to manage its debts efficiently,” he said.

    Ghana’s central bank issued three 3-year bonds in the first half of this year, mainly to retire maturing debts and also to support of the local cedi currency which has so far weakened 6 percent against the dollar this year.

    It is currently preparing to embark on a roadshow on July 15 for a second Eurobond of up to $1 billion.

    The government has yet to formally announce the issue date but officials told Reuters it would be before July 25.

    Ghana’s parliament last week approved Barclays and Citi Group as transactions advisers for the Eurobond, proceeds of which would be used for debt restructuring and infrastructure projects.

    {agencies}

  • Brazil data Indicate Increase in Amazon Deforestation

    {{Brazilian government figures released on Friday indicated further rise in deforestation in the Amazon, a trend that could soon amount to a full year’s reversal from recent progress in the battle against destruction of the world’s largest rainforest.}}

    Satellite data compiled by Brazil’s space agency showed 465 sq km (180 sq mi) of deforestation during the month of May, nearly a five-fold increase compared with destruction detected in May 2012.

    Since August, the month when Brazil’s annual measurement of cleared rainforest starts, a total of 2,338 square kilometers (903 sq mi) have been detected – a 35 percent increase from figures compiled a year ago.

    The area, roughly three times the size of New York City, is already more than the total of 2,051 square kilometers (792 sq mi) detected by the same system for the 12 months of measurement ended in July 2012.

    The figures are small compared to the worst days of Amazon deforestation, when loggers, farmers and developers in recent decades fueled rapid destruction that caught the world’s attention and helped spawn the global environmental movement.

    More complete figures and on-the-ground research will be needed to confirm the full extent and type of the clearing. Some of it, for instance, will be the result of wild fires and other natural degradation.

    Still, the data so far uphold fears by scientists and environmentalists that hard-won gains against deforestation in Brazil are undergoing a reversal. Government infrastructure projects, changes to long-standing environmental policy and a run-up in prices for soybeans and other Brazilian farm exports, which encourage ranchers to clear woodland, are factors believed to be driving the increases.

    The data is compiled August through July because cloud cover during the Amazon rainy season makes accurate imagery difficult. May is generally the first month in which the clouds disperse before rains recommence toward the end of the calendar year.

    {wirestory}

  • China, Switzerland Sign Free Trade Agreement

    {{China and Switzerland on Saturday signed a free trade agreement in Beijing – a move that came amid escalating tensions between Asia’s economic giant and the European Union.}}

    The pact followed China’s signing in April of its first free trade accord with a European economy, non-EU member Iceland. Saturday’s deal, however, marked the first with an economy in continental Europe.

    China’s commerce minister Gao Hucheng and Swiss Economy Minister Johann Schneider-Ammann inked the bilateral agreement in a ceremony in China’s capital city.

    According to government news agency Xinhua, Gao described its free-trade agreement with Switzerland as a comprehensive and mutually beneficial pact that should contribute to increased trade between the two economies.

    Xinhua said the bilateral trade volume between China and Switzerland reached $26.31 billion in 2012. The figure for the first five months of this year surged to $22.89 billion, the agency said.

    Saturday’s free-trade signing came just days after the Chinese government formally began an investigation into whether Europe is selling wine in China below cost, a response to heightened trade tensions with the European Union.

    EU officials have said China is only targeting the EU wine industry in retaliation for a dispute with the European Union over cheap Chinese solar panels.

    {wirestory}

  • Tanzania Arrests Briton Wanted by UK on terror Charges

    {{Tanzania has arrested a British man suspected of involvement in unspecified “terrorism activities” in Britain, police in the east African country said.}}

    Iqbal Ahsan Ali was arrested in Tanzania’s southern Mbeya region after being found in possession of both British and Tanzanian passports, which is a crime in Tanzania as it forbids dual citizenship, police said.

    “We have been in contact with our counterparts in the UK and they have confirmed that the suspect is wanted in their country for involvement in terrorism activities,” Robert Manumba, director of criminal investigations, said in a statement on Friday.

    Manumba did not give further details of what Ali was sought for in Britain. British diplomats in Tanzania made no immediate comment.

    Several people have been arrested on terrorism charges in Tanzania since bombings killed at least eight people in May and June.

    Authorities in Tanzania, one of the region’s most stable countries, are concerned at the growth of an Islamist movement accused of indirect links to Somalia’s al Shabaab rebels.

    Police said they had verified Ali’s British passport as being authentic. They said the Tanzanian passport he was carrying was a fake.

    {{wirestory}}

  • Venezuela offers asylum to U.S. fugitive

    {{Venezuela’s President Nicolas Maduro offered asylum to former U.S. intelligence contractor Edward Snowden on Friday in defiance of Washington, which is demanding his arrest for divulging details of secret U.S. spy programs.}}

    “Who is the guilty one? A young man … who denounces war plans, or the U.S. government which launches bombs and arms the terrorist Syrian opposition against the people and legitimate President Bashar al-Assad?” he asked, to applause and cheers from ranks of military officers at the parade.

    “In the name of America’s dignity … I have decided to offer humanitarian asylum to Edward Snowden,” Maduro told a military parade marking Venezuela’s independence day.

    “He is a young man who has told the truth, in the spirit of rebellion, about the United States spying on the whole world.”

    Russia has kept the former National Security Agency contractor at arm’s length, saying the transit area where passengers stay between flights is neutral territory and he will be on Russian soil only if he goes through passport control.

    It was not immediately clear how Snowden would react to Maduro’s offer, nor reach Venezuela if he accepted.

    There are no direct commercial flights between Moscow and Caracas, and the usual route involves changing planes in Havana – to which there is a flight from Sheremetyevo at 6:05 ET. It is not clear if the Cuban authorities would let him transit.

    Given the dramatic grounding in Vienna of the Bolivian president’s plane this week over suspicions that Snowden was onboard, using European airspace could prove problematic.

  • Rwandan Community in Darfur Celebrates Independence & Liberation Day

    {{The Rwandan Community in Darfur, Sudan on Thursday 4 July, 2013, celebrated its 51st Independence and 19th Liberation Day under the theme: “Celebrating Africa’s renaissance working towards self reliance.” }}

    The ceremony which attracted guests from the three components (Military, Police and Civilians) of the African Union – United Nations Hybrid Operation in Darfur (UNAMID), the Darfurian communities and other well-wisherswere hosted at the Rwandan Battalion (RWANBATT 37) in Super Camp, El Fasher.

    The celebrations were marked with a colourful military parade mounted by detachment of RWANBATT 37 under the command of Major NgendahimanaTheoneste.

    Gracing the occasion as guest of honour was the Sector North Head of Office Ambassador Hassan Djibril who represented the UNAMID Joint Special Representative (JSR) HE. Mohammed IbinChambas,inspected the parade on arrival.

    Welcoming all and sundry to the ceremony, the RWANBATT Contingent Commander Colonel Ludovik Mugisha stated that he was proud of the performance of RWANBATT and the entire Rwandan family in Darfur.

    He reminisced on the events leading to Independence of Rwanda and then used the occasion to pay glowing tribute to those who lost their lives during the liberation struggle.

    He acknowledged that Rwanda is a unified country and that the liberation process taught Rwandans the importance of adopting step by step approach to solving and addressing issues of national development.

    He noted that despite the achievements attained since the liberation, the country still faces challenges and assured that ‘they can triumph against the difficulties’.

    Colonel Mugisha pledged the country’s continued commitment to be part of global efforts to bring peace to the world. Noting, that their presence in Darfur is a demonstration of Rwanda’s commitment to assist others.

    Speaking as representative of Rwandan community in Darfur, the UNAMID Police Chief of Staff Mr. Cyprian Gatete extended a special welcome to the audience and said that the “liberation was about rescuing Rwandans from a pre-and post–independence, bad leadership that fostered and promoted hatred, sectarianism and genocidal ideologies – culminating in the decision to exterminate its own citizens.”

    He further stated that pre-liberation era created a legacy of bad politics, poor governance, disastrous social development philosophies and practices, and economic system that entrenched a vicious cycle of poverty and dependence.

    Mr. Gatete paid tribute to the President of Rwanda His Excellency Paul Kagame for his visionary guidance and leadership. He dilated on the achievements made so far in the country which he attributed to hard work and home grown solutions like; tradition court(Gacaca), Ubudehe, 12 years Basic Education, Medical insurance (RAMA), One Cow per Family and to mention but a few.

    He called on all to still confront the immense developmental adversities that remain ahead of the country. Adding, that all must stay the course of self determination despite the challenges.

    On global peace, Mr. Cyprian Gatete said that “Rwanda is committed to contributing to regional and global peace and stability.” “We are aware that we can travel safely, faster and farther in the company of others.

    And so while our determination to build an independent country should not be compromised, we also recognize that we can guarantee our independence better with cooperation based on mutual respect and benefit” he stated.

    He urged Rwandans to continue to show patriotism to the country which he said has brought all and sundry where we are today.

    The Guest of Honour Ambassador Hassan Djibril whilst addressing the gathering, lavished tremendous praises for the Rwandan people and government for the great strides made toward uplifting their country from dictatorial regimes which led to oppression, inequality, refugees and the climax of the 1994 genocide.

    It was on July 1994 when Rwanda was liberated by its own people, and this indeed the reason behind the country’s celebration the 19th Liberation Anniversary.

    As Today’s theme state ;; Celebrating Africa’s Renaissance, he said “there can never be independence without self-reliance” and that he was ‘proud that Rwanda is on the right track in developmental programmes, implementation of Millennium Development Goals (MDGs) and a committed contributor to regional development and UN peacekeeping operations where both military and Police officers continue to share their expertise, experience and actively participate in the restoration of peace in war-torn countries and regions of our globe in the service of humanity .

    He noted that Rwanda’s active participation in peacekeeping missions began in 2004 in Darfur with the African Union Mission in Sudan (AMIS) and that Rwanda is today the 6th major troop and police contributing country at the UN and the largest troop and police contributing country in UNAMID, with presence in eight other UN missions.

    He congratulated Rwandans on the observance of their Independence and Liberation Day and wished them success in their peacekeeping assignments.

    The day was observed amid pomp and pageantry, spiced with wonderful display of martial arts drills and cultural performance

    {Contingent Commander COL. Ludovick Mugisha }

    {Guest of honor (General Salute)}

  • President Kagame Interucts with Women

    {{President Paul Kagame met with over 3000 women converged at Petit Stadium at Remera.

    Most of the women are from all sectors and are currently engaged in an inteructive discussion with the President.}}

    The President told the women that the agenda to liberate women should always involve men. “It should be an inclusive process and would therefore expand to a countrys agenda.”

    In the fight against Poverty, its paramount to engage women. The role of women must be boosted through provision of girl-education, enterpreneurship.

    The president told the gathering that there are a lot of teachings about democracy, human rights, and freedom, they also come here to teach us the same, however, back in their countries, their women do not vote, and do not get voted.

    They also say that a country that doesn’t give women rights cannot develop…I agree with this…but these people who tell us do not actually believe in what they teach us.

    They need to correct this wrong in their countries before teaching us about these things.

    Its shouldn’t be a surprise that women are excercising their rights because its their inaleanable right to enjoy their rights in their country. That’s the way it should be.

    All the good things we have achieved we do so as a country because that is the vision of our country. Its our liberation and we need to own this process.

  • 65 Primary Schools Receive Solar Panels

    {{The Rwanda Education Board (REB) and the USAID-funded Literacy, Language, and Learning (L3) Initiative has been distributing solar panels to 65 primary schools over the past two weeks. }}

    The solar panels will support the schools, in 5 districts across the country, in using technology in the classroom to enhance teaching and learning. Today a launching ceremony was held at Kindama Primary School in Ruhuha, Bugesera.

    Specifically, the schools will be charging cell phones, netbooks, and projectors, which REB and L3 distributed earlier this year. The cell phones are used to play L3’s Interactive Audio Instruction (IAI) programs, which are one component of a comprehensive English, Kinyarwanda, and math program.

    “In the quest to improve education quality, REB is constantly looking for innovative platforms to deliver effective and proven content to both teachers and students,” said L3’s Chief of Party Said Yasin. “The audio materials are a research-proven mechanism for supporting REB in achieving that goal.”

    The IAI programs support teachers in delivering fun, learner-centered, and effective lessons, guiding them in using new instructional methods and modeling fluent English. An “audio teacher” and “audio students” guide the teacher and children in the classroom and demonstrate learning activities.

    “Especially for those teachers who haven’t mastered English language, I think those lessons are very useful,” remarked REB Education and Quality Standards department head Janvier Gasana.

    At the launch, a P2 classroom demonstrated a Kinyarwanda lesson. The teacher wrote several letter blends on the board and pointed to one at a time. The children quickly called out the sound the letters make, increasing the speed at which they match letters to sounds.

    Additionally, students read aloud together from a text they had studied the previous week. According to Yasin, choral reading improves students’ reading fluency, an essential reading skill.

    When asked whether students have improved in reading during the three months of using IAI, Kindama Head Teacher Rwingina Moses replied, “very much.”

    The solar panels will also charge netbooks and projectors, which are used as part of REB’s School-based Mentoring Program (SBM Program). The mentors, now deployed across the country, work with teachers at two schools each.

    Using the netbooks and projectors, mentors show interactive video modules to support teachers in using appropriate English and in adopting new, effective teaching methodologies.

    The 65 schools receiving solar panels are among the 90 schools piloting the L3 print and audio instructional materials. By 2016, all public schools across the country will use these materials to support P1 to P4 English, Kinyarwanda, and math.

    Funded by USAID, the L3 Initiative is implemented by Education Development Center (EDC) in partnership with REB and with assistance from Voluntary Services Overseas (VSO), Concern Worldwide, International Education Exchange, and the Peace Corps.

  • Ugandan Container Seized with Ivory

    {{A joint team of the Uganda Wildlife Authority (UWA) the local police, International Police and Kenya Wildlife Service (KWS) are investing a company, Bajje Investments Uganda Ltd that is said to have been exporting a container of ivory to Malaysia.}}

    The consignment, reportedly originating from Uganda was intercepted in Mombasa while waiting to be shipped for Port Klanga, West Port Ehsan in Malaysia.

    Bajje Investments consignment is said to have used Giesenya Freight Logistics Ltd of Nairobi as the clearing agent.

    Dr Andrew Seguya, the UWA executive director, told the Daily Monitor in a telephone conversation yesterday that the team is investigating individuals connected to the container, including the exporting company and clearing agent before drawing any conclusion.

    According to a statement posted on the KWS website, the ivory, which was stashed in 69 bundles of several pieces, had been disguised as sun dried fish maws, which has a pungent smell intended to throw off sniffer dogs.

    Some bags had polished pieces of ivory while others had raw ivory. Export documents show that the consignment had entered Kenya from Uganda on June 12.

    The container arrived in Mombasa about two weeks ago and was parked at a petrol station in Jomvu in Mombasa until its entry into the port.

    NMG

  • IOC elections: To Shape Power in the Olympic Movement

    {{As the face of who will lead the next International Olympic Committee seems to shift gear in less than two months, Jacques Rogge of Belgium will retire in September this year, the elections frenzy is turning into one of a series of a hot-button that is likely to shape the opening for power theater across the Olympic movement.}}

    The 125th IOC Session in Buenos Aires will elect a new IOC President for the biggest sports job in the World; almost two months just after Rwanda national Olympic Sports Committee (CNOR) elected its new executive committee.

    Without doubt; its wont’ be a surprise, if committees, organizations like CNOR and individuals begin to stake out positions and forging coalition, each trying to make safe a place in the changing setting.

    When Jacques Rogge visited Rwanda in August, 2011, I had the opportunity to ask him during a press conference at Lemigo Hotel, what his role is? In his response, he emphasized “sports is not all about shaking hands and then you go” but a reason why IOC sets off schemes that already allow more than 10,000 former athletes to find a new professional” he said.

    The IOC President plays a pivotal role in assuming the overall responsibility for the administration and the management of its affairs. A vital reason as to why, Rogge communicated his belief in sport as a catalyser of humanity and an upholder of universal values during his visit in Kigali.

    My reasons why the site is considered the World’s biggest sports job is that it includes the participation of 205 nations and 28 sports ‘Olympics’; it continues to be a strong business model and social leader.

    According to the 2012 IOC statistical report, The TV rights alone, (which now extend to mobile devices) generate revenues of $5 billion every two years, thanks to the interest of 4.7 billion viewers, a figure that expands to 20 billion cumulated viewers for the duration of the games.

    94% of the revenue is redistributed at a grass roots level, with a preference for investments in developing countries like Rwanda.

    IOC has seen ethical issues, that have come to the forefront in recent years, starting with doping that has not only been a danger in athletes health, but within the credibility of sports and the possibilities of recruitment; parents who ought to place the kids to be safe have turned to enrolling them in music lessons instead.

    Six candidates have been knocking on the IOC doors, eager to articulate their visions of where the Olympic movement should head.

    For instance IOC vice presidents Thomas Bach of Germany and Ng Ser Miang of Singapore, finance commission chairman Richard Carrion of Puerto Rico, amateur boxing association head C.K. Wu of Taiwan, former pole vaulter Sergei Bubka of Ukraine and rowing federation chief Denis Oswald of Switzerland.

    Bubka ‘youngest’ looks exceptional but the rest have been rooming IOC corridors for some time.

    It is crucial that, during this campaign, fairness should be observed between the candidates and an atmosphere of mutual respect should prevail amongst them. I believe what remains fascinating in the few months are who will take spot.