This is the first financing received by Rwanda from AIIB and the first project financed by AIIB in Sub-Saharan Africa.
The financing will facilitate economic recovery and resilience by addressing financing constraints of private sector businesses post COVID-19. AIIB financing will focus on providing working capital and investment credit line.
This is in addition to US$ 157.5 million (approximately Rwf 157.4 billion) financing approved by the World Bank Board of Directors a week before. The objective of the financing is to alleviate the short and long-term financial constraints of businesses and help them adjust their business to the COVID-19 challenges. The financing will provide lines of credit to financial institutions for on-lending to highly impacted and strategically important sectors and firms.
“This facility will support Rwanda’s Economic Recovery Plan by providing our private sector affected by COVID-19 with affordable working capital and long- term resources for investment, which will contribute to job creation and economic growth,” said Dr. Uzziel Ndagijimana, the Minister of Finance and Economic Planning.
In response to the impact of COVID-19 pandemic on the economy, Government established the Economic Recovery Plan in April 2020 to support sectors mostly affected by the pandemic such as tourism and hospitality, scale up social protection and to protect both businesses and jobs by establishing an Economic Recovery Fund (ERF).
The ERF objective is to: (a) To support businesses in the sectors hit by the pandemic so they can survive, resume work, production and safeguard employment, and (b) expand domestic production during the COVID-19 pandemic and in the post-recovery period. Beyond supporting businesses to recover from the pandemic, the ERF will facilitate investment for high growth potential businesses that have significant domestic, regional and international market opportunity and export growth prospects.
The ERF started with initial US$100 million in June 2020, and with this World Bank and AIIB financing, ERF will increase to USD 357.5 Million. Other contributors to ERF are IMF, OFID and USAID.
This offer is tied to MTN Rwanda’s vision to lead digital for a brighter Rwanda underpinned by the Government of Rwanda’s ambition to increase access to broadband coverage and internet connevectivity across the country in the national strategy for transformation.
All new customers that subscribe for the Home fixed internet connection, between July 2nd 2021 and October 1st 2021, will be provided free installation at their home together with a free router.
Commenting on the development; Didas Ndoli, the General Manager of Enterprise Business Unit (EBU) said: “As we continue to follow the various preventive measures to combat the fight against further spread of COVID-19, we are pleased to offer our customers free installation and a router, ensuring stable and reliable connectivity as they work and learn from home. This promotion is also guided by our belief that everyone deserves the benefits of a modern connected life.”
Customers have four broadband internet packages to choose from with speeds ranging between 5Mbps and 25Mbps depending on their needs.
Key features of MTN’s Fixed Home Broadband offer are: free installation and router for the services, installation and connection of a home within 3-5 days upon subscribing for the service, 24/7 customer service and dedicated technical support and payment options via MTN MoMoPay by dialling *182*8*1*800000#
MTN Rwanda simulateously operates as a fully converged provider, with an ability to offer businesses and now homes, the largest range of Fixed Internet services.
Customers who would like to have this new service installed at their homes can contact the MTN Sales team on a toll-free line 3111 or send an email to Sales.RW@mtn.com.
“As more people continue to work and learn from home, this promotion we are offering commits to provide ease and convenience, enriching customer experience and at affordable rates,” concluded Ndoli.
{{About MTN Rwandacell}}
MTN Rwandacell Plc (MTN Rwanda) is the market leader in mobile telecommunications in Rwanda. Since 1998, we have continuously invested in expanding and modernising our network and are the country’s No 1 network.
MTN Rwanda offers various services to subscribers, including innovative propositions such as personalised voice and data offers with MTN Irekure. The company is also the front runner in mobile financial services in Rwanda with Mobile Money, MoMoPay and MoKash Loans and Savings.
The incident took place on Wednesday 30th June 2021 when the couple got in heated argument as they returned home from farm works.
It is said that disputes arose when the husband sought to sell chickens without consensus of his wife.
The executive secretary of Kagogo sector, Ignace Mugiraneza has told IGIHE that the husband later killed the wife hitting her with a hoe.
“The husband killed his wife hitting her with a hoe and escaped. They had wrangles which once required our mediation in 2018,” he said.
“Firstly, the husband wanted to sell sorghum produce against the wife’s will. As they returned from farm works the next day, the couple got in wrangles as the husband wanted to sell kitchens without consensus. The wife alerted the village leader of possible violence. As he visited their home, the village leader found the door closed and asked their daughter to jump over the fence. She found the mother dead and laid on ground,” added Mugiraneza.
He appealed on residents to report conflicts to local leaders on time to prevent similar incidences.
Uwimana leaves four children.
The article 107 of the Law Nº68/2018 of 30/08/2018 determining offenses and penalties stipulates that intentionally killing another person is a crime. Upon conviction, the culprit is liable to life sentence.
Ndayishimiye made the revelation on Thursday 1st July 2021 as Burundi celebrated the 59th Independence Day.
The ceremony was also attended by Rwanda’s Prime Minister, Dr. Edouard Ngirente representing President Paul Kagame.
Ndayishimiye revealed that the representation of Rwanda during the ceremony induces pride to Burundians and considered it the beginning of a new page for both countries relations.
“I would like to let you know that this day is memorable to Burundians. I am pretty sure that no Burundian is unhappy today because our neighbors from Rwanda have come to stand with us,” he said.
Ndayishimiye told Premier Ngirente that the visit to Burundi has impressed Burundians considering tensions that have existed between both countries.
“Your coming has impressed Burundians due to tensions that have characterized both countries. I would like to tell you that we have a common saying both in Kirundi and Kinyarwanda […] Agafuni kabagara ubucuti ni akarenge [friendship is reinforced by reciprocal visits]. Today’s visit conveys a meaningful message,” he said.
Ndayishimiye further explained that the visit is a gesture for Rwanda and Burundi to turn a new page of relations.
“We are aware that Rwanda and Burundi have been writing a book for the past years. We are now bound to read it to write a new chapter. This gives hope to read the previous book together and close it to write another chapter which alludes to normalized friendship. There is optimism that we are leaving the past turbulence behind to start a new era of relations,” he revealed.
Ndayishimiye also conveyed a message to his counterpart of Rwanda.
“Allow me to carry our message to all Rwandan friends, particularly extend our greetings to the President of the Republic of Rwanda, Paul Kagame and tell him that we are extremely delighted with this visit to Burundi which gives us great hope,” he noted.
Addressing participants of the ceremony, Premier Ngirente highlighted that it was of great honor to join Burundians during celebrations of the 59th Independence Day and thanked Burundians for warm welcome.
He thanked President Ndayishimiye for inviting Rwanda to the historical event and reiterated Rwanda’s commitment to promote cooperation and bilateral relations for interests of both countries’ people.
“It is time for Rwanda and Burundi to build on shared foundations of history to achieve sustainable development,” he said.
In 2015, a group of Burundian soldiers attempted to overthrow the then President Pierre Nkurunziza but the plan was nullified. Since then, Burundi has been accusing Rwanda of accommodating suspects behind the failed coup plot. Rwanda has however been insisting that the individuals are considered as refugees who must be protected against deportation by international laws.
The political mishap later halted cooperation and free movements between both countries.
Despite misunderstandings that have characterized both countries, both countries are promising to bring the situation back to normal for mutual benefits.
As he delivered ‘State of the Nation Address’ towards the end of last year, President Kagame explained that Rwanda continues to partner with neighboring countries to address security issues in the region.
He pointed out foreign relations’ gaps for countries including Burundi noting that the situation will finally get a solution.
Kagame made the observation on Thursday 1st July 2021 addressing participants of Generation Equality Forum.
The Generation Equality Forum is a global movement for gender equality, convened by UN Women and co-hosted by the governments of Mexico and France.
The forum brings together governments, corporations, Non-Governmental Organizations (NGOs), youth-led groups and Foundations to secure concrete, ambitious, and transformative commitments for gender equality.
French President, Emmanuel Macron; the President of Mexico, Andrés Manuel López Obrador; United Nations Under-Secretary-General and Executive Director of UN Women, Phumzile Mlambo-Ngcuka and the CEO of Bill & Melinda Gates Foundation, Mark Suzman are among other participants of the forum taking place in Paris from 30th June to 2nd July 2021.
Kagame commended Macron and López for championing the initiative together with Phumzile highlighting that Rwanda is happy to be associated with the Action Coalition for Technology and Innovation for Gender Equality.
He told participants that Rwanda plans to bridge gender gaps in technology by 2026.
“Let me tell you about Rwanda’s plans and commitments in this area. First, we aim to bridge the gender gap in digital access by 2026. We will do this in three specific areas: ownership of smartphones, access to digital financial services, and science, technology, and math studies at the upper secondary level,” he said.
“Second, we will ensure that our innovation and entrepreneurship ecosystem is fully inclusive, by doubling the number of women and girls supported by innovation centres,” added Kagame.
He revealed that Rwanda has also engaged the East African Community in pursuit of possible joint commitments in these domains.
“Achieving gender equality in technology and innovation is just one part of the wider struggle to guarantee equal rights and opportunities for women and girls. Every human being, regardless of gender, should be able to live the life that they choose,” stressed Kagame.
“That is the commitment we are all making through the Generation Equality Forum, inspired by the historic outcome of the 4th World Conference on Women a quarter-century ago,” he concluded.
Through different programs initiated by the Government of Rwanda, the number of girls attending Science, Technology, Engineering and Mathematics (STEM) courses has increased from 56.7% in 2015 to 63.9% in 2018.
The quartet belong to an illegal mining group that calls itself ‘Abanyogosi’ operating mainly in Rongi coltan mines located in Muyebe Village, Ruhango Cell, Rongi Sector of Muhanga District.
Those arrested are Eugene Ngirababyeyi, 28, Paul Ngirumukiza, 23, Ndazivunnye Dusingizimana, 26, and Elias Nizeyimana, 24.
The Southern region Police spokesperson, Superintendent of Police (SP) Theobald Kanamugire said that the suspects were arrested following complaints raised by the mining company.
“The mining company management had lodged a complaint about people, who sneak into their concession to extract and steal minerals especially at night,” said SP Kanamugire
He added: “Police collaborated with local leaders and residents to identify those involved leading to the arrest of the four men, who are part of the same racked that nicknamed itself Abanyogosi. They were arrested in their respective homes where assorted traditional tools they were using in illegal mining were also recovered.”
These illegal mining activities, he explained, sometimes become fatal.
“Besides being illegal conducting mining when you are not licensed, it is also a serious security issue. A number of illegal miners have died or survived with injuries in concessions where they go at night with no idea or information on its status and end up tampering with weak cliffs or tilting supporting cliffs and stones.”
Those arrested were handed to RIB at Kiyumba station for further investigation
Article 54 of the law N° 58/2018 of 13/08/2018 on mining and quarry operations, states that; any person, who undertakes mineral or quarry exploration, exploitation, processing or trading without a licence, commits an offence.’’
Upon conviction, the offender is liable to imprisonment for a term of between two and six months and a fine of not less than Rwf1 million and not more than Rwf5 million or only one of these penalties.
The court also orders confiscation of any seized minerals or quarry in storage, trading or processing without a license.
The statement released last night shows that 867 people have caught the virus out of 9047 sample tests. The majority of new cases was found in Kigali: 208, Kamonyi: 74, Rubavu: 73, Gicumbi: 66, Musanze: 46, Rusizi: 46 and Burera: 46.
Rwanda confirmed the first Coronavirus patient on 14th March 2020. Since then, 39 914 have been tested positive of whom 27 272 recovered, 12194 are active cases, 37 are critically ill while 448 have succumbed to the virus.
A total of 391, 870 people have been vaccinates since Rwanda began countrywide inoculation program on 5th March 2021.
Coronavirus symptoms include coughing, flu, and difficulty in breathing. The virus is said to be transmitted through the mucous membranes of the respiratory tract.
Rwandans are urged to adhere to COVID-19 health guidelines, washing hands frequently using soaps and safe water, wearing face masks and respecting social distancing.
Byigero’s dismissal has been announced in a communiqué signed by Prime Minister, Dr. Edouard Ngirente on behalf of President Paul Kagame.
The communiqué which also announced Gisèle Umuhumuza as the Acting CEO of WASAC reads that the decision takes immediate effect.
Byigero was appointed CEO of WASAC on 15th December 2020 taking over from Eng Aimé Muzola.
The reason for his dismissal has not been communicated.
Umuhumuza has been serving as the Deputy CEO and Board Member at WASAC.
WASAC has 1500 employees at its headquarters, 20 branches and 25 water treatment plants across the country. Rwanda targets universal access to safe water by 2024.
It is among public institutions reportedly mired by funds mismanagement where the Auditor General’s report indicates that WASAC lost Rwf 2.7 billion in 2019 and Rwf9.4 billion in 2020.
Habarugira is a finance and business development professional with over 14 years of professional experience specialising in financial institutions, business (investment, treasury, payments, export, and trade finance) and economic development in emerging markets.
Speaking to IGIHE recently, the new CEO of Cogebanque appointed on 1st May 2021, expressed delight for the trust bestowed upon him and pledged to overhaul the bank’s services to meet customers’ expectations.
“I welcomed the appointment with humility. It is a demanding responsibility to serve the institution diligently, manage employees, offer top notch services to customers, consolidate gains and maintain constant improvement to satisfy customers,” he said.
Habarugira’s appointment was announced during difficult times of COVID-19 pandemic which brought unprecedented effects and affected financial institutions globally among others.
In 2020, Cogebanque registered Rwf3.8 billion net profit in 2020 translating into a decrease by 4.7% compared to Rwf4 billion of 2019.
Despite dropped net profit in 2020, Habarugira explained that the bank’s operations remain steady and expressed optimism to continue helping customers to mitigate COVID-19 effects.
“The management of the bank has expended much effort to mitigate effects brought by the pandemic. We have extended loan repayment tenor for customers in hospitality and transport businesses affected by COVID-19,” he noted.
Habarugira also attributed last year’s performance to Government’s efforts to fight the pandemic.
Generally, the bank’s non-performing loans increased to 8% which is above 5% maximum ratio set by the National Bank of Rwanda (BNR).
Habarugira explained that the high percentage of non-performing loans is expected to reduce gradually as businesses return to normal working conditions.
He revealed that Cogebanque stands firm to maintain its operations, continue offering loans and reassured customers of the bank’s commitment to meet their expectations.
“Clients should rest assured because we have active shareholders willing to take the bank to greater heights. We still have enough funds and hope borrowers will continue the repayment process appropriately as much as the economy continues to thrust forward,” he stated.
{{Prioritizing technology}}
Habarugira has emphasized that Cogebanque pulled many lessons from COVID-19 pushing it to increase investment in technology.
“Revising the way we used to work is mandatory to promote technology and serve customers fast. It is part of existing projects but the pandemic convinced us that we need to fast track their implementation,” he said.
Among other areas of priority, Habarugira explained that the bank will draw much attention to supporting e-commerce businesses and help customers to embrace digital transactions.
As he said, the bank has gone far with digital uptake which is set to undergo upgrading to reach all customers.
“We are going leverage technology to improve service delivery. We are undergoing this process and understand the need to embrace digitalization as a way to reduce workloads and sustainably serve clients with convenience,” noted Habarugira.
During his first year at Cogebanque, Habarugira wants to speed up response to customers seeking different services.
“Within the first year of duty, customers should expect quicker feedback whether the loan application is approved or need an update,” he said.
Habarugira further stressed that the bank wants to streamline sources of income without heavy reliance on interest rates and service charges.
The bank’s profit was previously generated from interest rates accounting for 81%. Non-Interest Income accounts for 17% while the remaining 2% comes from other activities.
“We will prioritize other services instead of heavily relying on loans. We want profit from other services to reach 21%,” explained Habarugira.
Habarugira also seeks to decentralize services where branch managers will have a certain level of autonomy in decision making.
“We want to build capacity among branch managers where they will make some decisions to solve customers’ problems without interventions from main headquarters in the near future,” he noted.
In 2020, Cogebanque disbursed Rwf 158 billion in loans from Rwf 144 billion of 2019. The bank’s deposits also hit Rwf 213 billion in 2020 from Rwf 179 billion of 2019.
Established in 1999, Cogebanque has 28 branches countrywide, 600 agents and 36 Automated Teller Machines (ATMs).
As he arrived in Bujumbura Airport, Minister Ngirente was received by Prosper Bazombanza, the Vice-President of Burundi.
Burundi and Rwanda celebrate Independence Day every 1st July to commemorate the day in 1962 when their gained freedom from Belgian colonial rule.
Participants of the ceremony presided over by President Evariste Ndayishimiye paid tribute to Prince Louis Rwagasore, Burundi’s hero credited for resisting colonial rule.
Belgians had maintained a strong colonial rule by avoiding a unified Burundi nationalist movement by pitting the different ethnic groups against each other.
Louis Rwagasore, the son of King Mwambutsa IV was active in nationalist movements and campaigned for independence from Belgium.
In September 1961 elections before independence, he won 80% of the vote and became the first Prime Minister-elect.
However, Rwagasore was gunned down in a hotel restaurant a few weeks later on 13th October 1961. Though his assassin was Greek, suspicions remain that his murder was sponsored by a pro-Belgian group.
