Mbonyumutwa served as President of Rwanda from January 28, 1961, to October 26, 1961.
The slap became a significant event in Rwanda’s history due to its symbolic meaning. During that time, there was a tense political atmosphere, with Belgium using Hutu political parties to push for the abolition of the monarchy and the establishment of a republic.
Many Rwandans could not understand the idea of a republic and the possibility of forgetting the monarchy that had ruled for so long.
At that time, the political parties, especially MDR-Parmehutu, which advocated for the republic, and UNAR, which supported the monarchy, were at odds.
Mbonyumutwa was aligned with the MDR-Parmehutu party, serving as Sub-Chief in Ndiza (Gitarama). He was one of the leading politicians encouraging the population to reject the monarchy and fight for the establishment of a republic.
On November 1, 1959, Mbonyumutwa attended a mass in Byimana. After the mass, he went to visit Father Marara, who lived at the parish. On his way back, he met Karekezi Pascal and other young people.
Karekezi and the other two youths were reportedly upset by the notion of the monarchy being abolished and the words Mbonyumutwa’s alignment with ideologies to kill the Tutsis.
Karekezi once told IGIHE that he and his colleagues decided to slap Mbonyumutwa to stop his public promotion of the republic and his divisive rhetoric.
He said, “He supported the idea of killing people. Instead of promoting the culture of the country, he took the Belgian model to create a republic, and you have seen what the republic led to.”
Karekezi mentioned that he and Mbonyumutwa had known each other previously, as Mbonyumutwa was from a neighborhood called Mwendo.
Due to the political rivalry between Parmehutu and UNAR (the monarchy-supporting party), some believed Karekezi and his colleagues were sent by UNAR to slap Mbonyumutwa. However, Karekezi denied this claim.
He said, “How could UNAR send us? […] We were at home when he came from his place to promote the Parmehutu agenda, and we knew that it was all about killing people.”
Karekezi described how they ambushed Mbonyumutwa as he was on his way home and slapped him. But Mbonyumutwa fought back.
He explained, “We slapped him as he was heading to a place where he would become a Sous-Chef. He came from Mwendo… He fought back because he was not tied up.”
“He fought back and left. He didn’t go to court, and no one came for revenge. He later became a sous chef. They continued to stir division and war, until they began destroying everything.”
After the incident, rumors spread that Mbonyumutwa had been killed by Tutsi youth sent by UNAR. Some Tutsis were attacked, their homes burned, and many were killed while others fled.
Mbonyumutwa was elected president by leaders from the Hutu political parties in a meeting held in Gitarama, where it was confirmed that the monarchy was officially abolished. Mbonyumutwa was elected to lead the newly established republic.
In a joint statement released on November 1, 2025, energy ministers from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States vowed to continue supporting Ukraine’s energy resilience, including financial aid and setting conditions for long-term private sector investment.
Ukraine’s Prime Minister, Yulia Svyrydenko recently said, Russia’s goal is to disrupt power supplies ahead of winter.
According to reports, recent Russian airstrikes on power stations across Ukraine have resulted in widespread outages, leaving many areas struggling to keep warm as winter approaches. Several civilians have been killed, and vital power plants, including nuclear facilities, have been hit.
On Friday, Ukraine’s foreign ministry also called Russia’s attacks “nuclear terrorism,” especially after hitting substations that provide backup power to nuclear plants. They stressed the attacks violate international humanitarian law and put global safety at risk.
The International Atomic Energy Agency (IAEA) also voiced serious concerns, warning that Ukraine’s nuclear plants have been affected by power losses, increasing the risks to nuclear safety.
While Russia continues to deny targeting civilians, the conflict over energy infrastructure is intensifying, with both nations accusing each other of attacks on critical facilities.
The electoral commission announced that Hassan garnered over 31.9 million votes with voter turnout reaching nearly 87% of Tanzania’s 37.6 million registered voters.
This victory grants Hassan, who assumed office in 2021 following the death of her predecessor, a five-year term to lead the East African nation of 68 million people.
Hassan thus becomes the country’s first elected female president to lead theEast African nation of 68 million people for a five-year term.
She previously served as vice president from 2010 to 2021 and first assumed the presidency in March 2021 following the death of then-President John Magufuli from heart disease, marking a historic milestone as Tanzania’s first female head of state.
Tanzanians went to the polls on Wednesday in general elections that were marred by days of violent protests.
Held every five years, the elections saw voters choose the president, members of parliament, and local council representatives, with 17 parties fielding presidential candidates and 18 contesting parliamentary and local seats.
The celebration took place in Kigali on the evening of October 25, 2025, bringing together the company’s management, staff, and clients to mark two decades of progress achieved through LOLC Unguka Finance’s growth and commitment to financial inclusion.
Théoneste Mutsindashyaka, a cassava and grain flour trader based in Kigali, was among clients who attended the event and credited LOLC Unguka Finance for his business success.
He began working with the institution in 2005, when he could only access a loan of Frw 350,000, but has since grown to qualify for loans exceeding Frw 50 million.
“I am a successful businessman today, thanks to LOLC Unguka Finance,” he said. “I started my business in 2000, but it was still small when I joined Unguka in 2005. My first loan was Frw 350,000, which I used to buy a milling machine. I have worked with Unguka ever since, and over the past 20 years, my business has grown tremendously. I thank God and Unguka for supporting me. Today, I qualify for over Frw 50 million loan.”
Angélique Beza, who runs a veterinary and agricultural supply shop in Nyabugogo, also shared her success story. She started working with LOLC Unguka Finance in 2005 and has remained a loyal client ever since.
“I was among the first clients to join LOLC Unguka Finance,” she said. “I left other banks because Unguka treated us with care and dedication. They welcomed us warmly, opened accounts for us easily, and offered great service. That’s why I have stayed all these years and I plan to keep working with them in the future.”
The Chairperson of the Board of LOLC Unguka Finance, Yves Sangano, reminded guests that the company was founded with the goal of becoming one of Rwanda’s leading providers of financial services, noting significant progress in ensuring high-quality customer service.
“We have played a significant role in Rwanda’s economy,” he said. “We’ve adapted to changes in financial sector regulations while continuing to innovate and ensure that our clients receive the best possible service.”
The Chief Executive Officer, Justin Kagishiro, thanked clients and partners, acknowledging that their trust and cooperation have been key to LOLC Unguka Finance’s success over the past 20 years. He promised more innovations in the years ahead, including new digital services aimed at improving customer experience.
During the event, the institution with more than 200 employees, recognized and rewarded outstanding employees for their exceptional performance in 2024.
Following the presentation of credentials, President Rinkēvičs and Amb. Dushimimana held talks on strengthening bilateral and multilateral cooperation, notably in the areas of trade and investment.
Amb. Dushimimana also oversees Rwanda’s interests in the Netherlands. The diplomatic relations between Rwanda and Latvia officially began in 2007. Rwanda appointed its ambassador to Latvia in January 2022.
Latvia is one of the smaller countries in Europe, covering an area of 64,589 square kilometers. Its capital city is Riga, founded in 1201.
The country has a population of less than two million people. Over 50% of Latvia’s land area is covered by forests, which explains its strong timber industry and overall wealth in wood-related trade.
Latvia gained its independence from the Soviet Union in 1991. The official and most widely spoken language is Latvian, one of the oldest languages in Europe.
The impressive results were driven by diversified revenue streams, strong subsidiary performance, and continued recovery in the Kenyan banking business. The Group recorded a Return on Average Equity (RoAE) of 26.4% and a Return on Average Assets (RoAA) of 4.1%, underscoring robust profitability across markets.
“The execution of the strategic business plan has started to reflect on the balance sheet and performance of the Group in agriculture, mining, manufacturing, trade and investment, and small and medium enterprises (SMEs) that populate the eco-systems of the formal sector,” said Dr. James Mwangi, Equity Group Managing Director and CEO. “This is likely to significantly and increasingly transform the structure and performance of the Group.”
{{Strong regional growth across markets}}
Equity’s regional subsidiaries continued to strengthen their contribution, accounting for 50% of deposits, 53% of the loan book, 50% of total banking assets, and 49% of Group banking revenue. Collectively, these subsidiaries contributed 45% of Profit Before Tax and 42% of Profit After Tax for the banking business.
In Kenya, Equity Bank reported a 51% rise in Profit After Tax to Kshs 31.1 billion, up from Kshs 20.6 billion. Net interest income grew by 27% to Kshs 53.6 billion, supported by a 34% decline in interest expenses. Total equity rose by 36% to Kshs 171.4 billion, while the bank maintained leadership in MSME lending, disbursing 45% of Kenya’s Kshs 201 billion MSME loans between January and July 2025.
In the Democratic Republic of Congo (DRC), Profit After Tax rose 21% to Kshs 13.8 billion, with loans and advances up 19% to Kshs 302.7 billion. In Uganda, Profit After Tax increased 61% to Kshs 2.9 billion, while Rwanda recorded 34% loan growth and an 18% rise in total equity to Kshs 19.6 billion. Tanzania posted the highest growth rate, with Profit After Tax jumping 88% to Kshs 1.5 billion and shareholders’ funds rising 83% to Kshs 12.1 billion.
Dr. Mwangi praised the regional performance, noting, “We are particularly proud of our regional subsidiaries, which have demonstrated resilience and contributed significantly to our overall performance.”
{{Efficiency and digital transformation}}
The Group’s operational efficiency improved markedly, with the cost-to-income ratio declining to 50.6% from 55.1% last year. Asset quality remained strong, with the non-performing loan (NPL) coverage ratio at 71.4% and the cost of risk contained at 1.9%.
“Technology remains central to the Group’s strong operational performance and strategic resilience,” Dr. Mwangi said. “During the quarter, we further improved system reliability, launched key digital integrations across markets, strengthened fraud controls, and advanced our AI and data governance frameworks.”
Over 98% of transactions now occur outside branches, with 87.4% executed through digital channels. The Group invested heavily in scalable, next-generation technologies powered by machine learning and Generative Artificial Intelligence (GAI), aligned with international standards such as ISO 27001 and PCI-DSS for cybersecurity and compliance.
“These investments assure data protection and safeguard our digital ecosystem as transaction volumes and API integrations scale,” added Dr. Mwangi.
{{Strategic transformation and ARRP vision}}
Equity Group’s Q3 2025 results come amid implementation of its Africa Recovery and Resilience Plan (ARRP) and 2030 Strategic Plan, which target presence in 15 countries and service to 100 million customers by 2030.
The Group’s evolution is anchored in its Tri-Engine Business Model, comprising banking, insurance, and technology, to position itself as a “Transformation Finance Institution,” bridging commercial capital with development finance and philanthropy.
“The ARRP is demonstrating how financial institutions can catalyze inclusive and sustainable growth by aligning private capital with national and regional development priorities,” the Group noted.
{{Growth in insurance and non-banking ventures}}
Equity Group’s foray into insurance continued to deliver strong results. With three licenses for life, general, and health insurance, the Group reported a 36% growth in profit before tax to Kshs 1.46 billion, supported by a 71% rise in gross written premiums to Kshs 6.55 billion.
Equity Life Assurance grew its gross written premiums by 28% to Kshs 4.9 billion, serving 6.8 million unique customers with 17.8 million policies issued to date. It achieved a Return on Average Equity of 37.7% and Return on Assets of 4.5%.
General Insurance, in its first year, posted Kshs 1.67 billion in gross written premiums and Kshs 140 million in profit before tax, while Equity Health Insurance, licensed in July, recorded Kshs 23 million profit before tax in its debut quarter.
These subsidiaries are “poised to contribute towards increased profitability and return on equity to the overall Group performance,” according to the Group’s statement.
{{Commitment to SMEs }}
Throughout its digital and structural transformation, Equity Group reaffirmed its focus on micro, small, and medium enterprises (MSMEs).
“This transformation marks our evolution into a one-stop financial services provider, offering borrowing, investing, insurance, payments, and savings solutions seamlessly, 24 hours a day,” said Dr. Mwangi.
He emphasized that despite the transformation, Equity remains “unwaveringly committed to supporting micro, small, and medium enterprises,” highlighting that 45% of all SME loans disbursed in Kenya between January and July 2025 originated from Equity.
Dr. Mwangi added, “Our focus has shifted to product innovation, with our product houses actively rolling out new offerings to empower our customers and unlock greater opportunities for wealth creation.”
{{Social impact and inclusion}}
The Equity Group Foundation (EGF) continued to advance its mission of transforming lives through social impact investments across education, enterprise, health, and climate resilience. In Q3 2025, 145 Equity Leaders Program scholars secured fully funded global university scholarships worth Kshs 3.8 billion (USD 29.47 million), including 16 placements to Ivy League universities.
Through its Enterprise Development and Financial Inclusion pillar, 30,000 entrepreneurs were trained, while 91,000 MSMEs accessed Kshs 38 billion in credit. The Foundation also facilitated loans worth Kshs 78 billion to MSMEs under the Young Africa Works program in partnership with the Mastercard Foundation.
The Foundation’s Food and Agriculture and Energy, Environment, and Climate Change pillars trained 80,000 farmers in climate-smart agriculture and distributed over 535,000 clean-energy solutions, impacting 2.1 million people and planting 39.6 million trees. Its health arm, Equity Afya, expanded to 147 medical centers in Kenya and the DRC, serving over 4.3 million patients.
Equity Group’s continued innovation and resilience earned it the African Banker Award 2025 for “Best Regional Bank in East Africa” and recognition as Kenya’s Most Valuable Brand for the second consecutive year.
In a communiqué adopted during its 1308th emergency meeting on 28 October 2025, the AU Peace and Security Council (PSC) PSC expressed deep alarm over the worsening humanitarian situation in El Fasher, following atrocities committed by the paramilitary Rapid Support Forces (RSF).
Scores of people have been killed in attacks by the Rapid Support Forces (RSF) during their recent capture of the city of el-Fasher in Sudan’s western Darfur region, according to a medical group and researchers.
On Wednesday, the Sudan Doctors Network reported that the RSF, which has been fighting Sudan’s military for control of the country, had killed at least 1,500 people over the past three days as civilians tried to flee the besieged city. The group, which tracks the country’s civil war, described the situation as “a true genocide”.
The Council strongly condemned the RSF’s takeover of the city, which has left civilians trapped without access to food and essential services since May 2024.
Acting under Article 7 of its Protocol, the council directed the Chairperson of the Commission to work closely with the PSC Presidential Ad-hoc Committee, under Museveni’s leadership, to facilitate negotiations between the Sudanese Armed Forces (SAF) and the RSF.
The directive also includes plans for holding an AU Special Summit on Sudan aimed at achieving a sustainable ceasefire and political settlement.
The Council reiterated that there is no military solution to the Sudanese crisis and called for a genuine, inclusive political dialogue among Sudanese stakeholders.
It also warned against any external interference that fuels the conflict and urged regional and international coordination between the AU, the United Nations (UN), the Intergovernmental Authority on Development (IGAD), and other partners.
The AU also requested a fact-finding mission by the Special Envoy on the Prevention of Genocide and Other Mass Atrocities to report within three weeks, alongside measures to identify and sanction external actors supporting the conflict.
The disclosure was made on October 30, 2025, as BRD officials appeared before the Parliamentary Committee on Land, Agriculture, Livestock, and Environment.
Through the carbon market, developing countries which contribute the least to global carbon emissions enter into agreements with wealthier nations. The latter cover the cost of initiatives that reduce greenhouse gas emissions, allowing them to offset part of their own emissions.
This includes projects such as tree planting, forest conservation, and biodiversity protection that absorb carbon dioxide (CO₂) from the atmosphere. It also covers initiatives that promote the use of renewable energy and other environmentally friendly practices.
In the carbon market, buyers voluntarily purchase carbon credits. One carbon credit (equivalent to one ton of CO₂) is priced between $40 and $80, although prices can vary depending on the type of project and agreements between countries.
The carbon market is one of the financial solutions supporting environmental sustainability, helping Rwanda reach its goal of reducing greenhouse gas emissions by 38% by 2030.
According to Innocent Gatete, head of strategic projects and implementation at BRD, the bank has already registered on the carbon market and is among the first Rwandan institutions benefiting from it.
He explained that the approved carbon credits were based on BRD’s projects implemented between 2020 and 2025.
Gatete revealed that BRD has already received an initial payment of $214,000 (about Frw 310 million) and expects to receive over $2 million by December 2025, followed by $16 million in 2026.
“These funds help us expand our projects and improve where we previously faced challenges. They also help address the issue of cooking energy, as we plan to offer subsidies from these funds,” Gatete said.
He added that Rwanda sold its carbon credits at $15 per ton but expects to negotiate higher prices in the future.
Among the BRD projects that generated carbon credits is “Cana Uhendukiwe”, which provided solar energy solutions to 510,847 households and attracted $48.94 million in investment.
Another project, EAQIP 3B (Tekera Aheza), is set to conclude in 2026, with 73% of its budget already utilized. The project distributes improved cookstoves to households, helping reduce carbon emissions.
EAQIP is expected to cut over 600,000 tons of greenhouse gases and generate more than $10 million, which will be reinvested in renewable energy programs, improved cooking technologies, and the production of clean fuels.
BRD continues to encourage the private sector to seek loans from the bank for similar green initiatives. For example, it financed a government project to construct 17,000 cubic meters of biogas storage facilities used for cooking.
Apart from BRD, other institutions may also benefit from the carbon market once their projects are approved.
They were received by the RSF Joint Task Force (JTF) Commander, Major General V. Gatama, and other RSF commanders, who briefed them on the current security situation within the RSF Area of Responsibility.
According to Rwanda’s Ministry of Defence, the purpose of the visit was to welcome the newly deployed Rwandan Security Forces under the command of Major General V. Gatama, who currently relieved their colleagues in Cabo Delgado.
The visit also aimed to strengthen the longstanding friendship and bilateral cooperation between the two forces.
During the visit, the CGS announced that the Joint Command and Coordination Centre will be relocated from Pemba to Mocímboa da Praia City to enhance coordination of future operations.
He encouraged both the Rwandan and Mozambican Forces to continue working together to achieve their operational objectives.
General Jane reaffirmed his commitment to supporting the Joint Forces in successfully accomplishing their mission.
He commended the outstanding efforts of both the RSF and Mozambican Forces in combating terrorism in Cabo Delgado and praised the RSF for its significant contribution to restoring peace and security in the province.
At a news conference, Governor Kathy Hochul announced 65 million U.S. dollars in new state funds for emergency food assistance and promised to provide 40 million meals to New Yorkers.
The prolonged U.S. federal government shutdown is putting millions of people at risk of missing their food stamp benefits, or the Supplemental Nutrition Assistance Program (SNAP), a vital lifeline for low-income households.
Earlier this month, the U.S. Department of Agriculture (USDA) told state agencies to hold off distributing November benefits “until further notice” because of insufficient funds.
“As the GOP federal government shutdown continues, the Trump administration has refused to release billions in statutorily approved federal contingency funding that would address this crisis in states across the nation,” Hochul said.
In recent days, several states have stepped up efforts to ensure SNAP recipients can afford food in November.
Louisiana Governor Jeff Landry signed an emergency declaration last week to fund SNAP benefits for recipients who rely on the program, while Vermont lawmakers on Wednesday approved a plan to fund food stamp benefits for state residents through Nov. 15.
In New Mexico, Governor Michelle Lujan Grisham announced Wednesday that her state will provide 30 million dollars in emergency food assistance to residents through EBT cards, backfilling SNAP benefits temporarily.
Democratic governors and attorneys general from 25 U.S. states filed a lawsuit against the Trump administration on Tuesday, challenging its conclusion that it lacks the authority to use emergency funds to maintain food assistance for millions of Americans next month.
They called on the court to compel the USDA to use contingency funds appropriated by Congress to keep the program running.
SNAP is the nation’s largest anti-hunger program serving approximately 42 million people. Most SNAP recipients live at or below the federal poverty line.
