Author: Nicole Kamanzi Muteteri

The approval received from the Capital Market Authority for the public issue and listing of the Corporate Bond on the RSE was followed by the opening on the offer slated for Wednesday 23rd June 2021 and closing on Wednesday, 07th July 2021, providing prospective investors a two-week period to make their investment decisions and commitments.

The ENERGICOTEL corporate bond will be issued in two phases. The first bond worth Rwf3.5 billion with a tenor of 10 years was issued on Wednesday, 23rd June 2021 while the second phase with a bond worth Rwf 3 billion will be issued in the near future with a specified tenor.

The ENERGICOTEL “ECTL” PLC Corporate Bond listing and trading on the Rwandan Stock Exchange (RSE) is slated to commence on Monday, 26th July 2021.

The proceeds of the Bond, according to ENERGICOTEL “ECTL” PLC, will be used for general corporate purposes, including but not limited to refinancing the company’s existing bank loan, investment into operational power plants and bond issuance related expenses.

ENERGICOTEL “ECTL” PLC anticipates that the Bond will showcase the Rwanda Stock Market as an avenue for generating long term financing for project development from institutional and retail investors across Rwanda and beyond.

Commenting on the development, Ferdy Turasenga, the Executive Director of ENERGICOTEL “ECTL” PLC said: “We are thrilled with the regulatory approval to issue and list our Corporate Bond on the Rwanda Stock Exchange and to have made history as the first Independent Power Producer company in Rwanda to do so.”

“Moving to the capital markets is an essential step towards showcasing additional avenues for capital formation and providing a platform for investors to participate in the ENERGICOTEL transition to the development of sustainable renewable energy solutions. We are excited to continue on our trajectory of dynamic growth within the renewable energy space, with our core business of Power Generation and Engineering Consultancy”, he added.

“On Behalf of Access to Finance Rwanda (AFR) and its Funders, we are very pleased to have the opportunity of collaborating with ENERGICOTEL “ECTL” PLC to receive the regulatory approval to Issue and list the first Corporate Bond by an Independent Power Producer company to the Rwandan Capital Markets. This is part of a wider program that we have embarked on in partnership with the Capital Market Authority (CMA) and other stakeholders which is key in assisting SMEs to explore available financing opportunities in the capital market. This will play a vital role in accelerating Rwanda’s inclusive economic growth both in the creation and expansion of investments and descent jobs opportunities.” Jean Bosco Iyacu, CEO, Access to Finance Rwanda.

Rwanda’s demand for electricity is projected to increase according to the Energy Sector Strategic Plan.

Currently, electricity penetration in Rwanda is at 63%, with 47% connected to the national grid and 16% accessing electricity through off-grid systems. The Energy Sector Strategic Plan (ESSP) for 2018/19 – 2023/24 outlines that the Government targets to achieve 100% penetration by 2024 with 52% being connected to the grid and 48% through off grid solutions.

{{About ENERGICOTEL “ECTL” PLC}}

ENERGICOTEL “ECTL” PLC is an Independent Power Producer (IPP) and an Engineering Consulting Company with Power Purchase Agreements and Concessions to upgrade, finance, operate and maintain power plants in Africa. Currently, ECTL operates 3 Hydro Power Plants namely: Keya, Nkora & Cyimbili in the Republic of Rwanda. With a consistent capital outlay, now totaling to over Rwf4 billion, ENERGICOTEL “ECTL” PLC has transformed the Hydro Power Plants (HPPs) to a combined installed capacity of 3.2MW and supplied 17M kWh of electricity to the national grid in 2020.

Given the potential energy resources which are under development in the region, ECTL looks to the future of energy with great hope to exploit the opportunity presented in the region and beyond.

In the pipeline, ENERGICOTEL “ECTL” PLC has various energy power generation projects, all in the Renewable Energy Space, at different stages of the project development cycle of approximately 50MW of Power Generation including the Methane Gas-to-Power Pilot Project in Lake Kivu, a Hydro-power Project in Kenya, DRC, and Solar Power Plant in Zimbabwe and so on in Malawi.

For more information, you can visit ENERGICOTEL website: www.energicotel.com

The statement released last night shows that 883 people have caught the virus while 131 recovered.

Kigali city continues to be the major hotspot where 234 new cases were found yesterday.

Rwanda confirmed the first Coronavirus case on 14th March 2020. Since then, 34 143 people have been tested positive of whom 26 865 recovered, 6876 are active cases, 18 are critically ill while 402 have succumbed to the virus.

The Ministry of health has revealed that the prevalence of new infections stands at 8.5%.

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.

Cleophas Bizabarimana, 27, was arrested on Thursday, June 24, in Gasabo Village, Kiyovu Cell of Ndego Sector.

The District Police Commander (DPC) for Kayonza, Senior Superintendent of Police (SSP) Alex Fata said that Bizabarimana, who was trafficking the narcotics on a motorcycle was intercepted at about 3am by Police officers, who were on patrol.

“We are aware that this route is used by drug traffickers, especially at night. In the night of Thursday, Police officers, who were conducting patrol in the same area stopped Bizabarimana at about 3am, who was transporting two sacks of cannabis on a motorcycle weighing 30kgs,” SSP Fata said.

Bizabarimana was immediately taken into custody and the motorcycle impounded to Ndego where he was handed over to RIB alongside the exhibits.

Following his arrest, Bizabarimana disclosed that he got the drugs from the neighbouring Tanzania and was at the time headed to Kabarondo where he was to supply other local retailers.

SSP Fata warned anyone engaged in drug related crimes adding that routes used by traffickers have been mapped and that the Police works with local leaders and the public to identify all those involved to be arrested to face justice.

The Ministerial order nº 001/MoH/2019 of 04/03/2019 establishing the list of narcotic drugs and their categorisation classifies cannabis in the category of “very severe narcotics.’’

Article 263 of law No. 68/2018 of 30/08/2018 determining offenses and penalties in general states that any person, who unlawfully produces, transforms, transports, stores, gives to another or who sells narcotic drugs and psychotropic substances, commits an offence.

Upon conviction for very severe narcotics, the offender faces between 20 years and life imprisonment, and a fine of up to Rwf30 million.

Kanyanga, which is classified as ‘simple narcotic drug’ in Rwanda was being carried by groups of traffickers, three of whom were taken into custody during the operations conducted in Rushaki and Cyumba sector.

The three suspects; Theophile Tuyisingize, Eric Hakuzimana, and Eugene Nsengimana were arrested in Rushaki Sector, Karuruma Cell in Izinga Village. The gin was packed in outlawed polythene bags and stashed in sacks.

Gicumbi District Police Commander, Superintendent of Police (SP) Jean Bosco Minani said that these were targeted operations conducted Tuesday night in response to credible information from local residents.

“Police received information that groups calling themselves abarembetsi used to traffic kanyanga from Uganda at night through different porous points in Ruskaki and Cyumba.

During the operations, Police arrested the three suspects in Rushaki shortly after they crossed into Rwanda with sacks containing 600 litres of kanyanga packed in polythene bags. Other 98 litres were seized from another group in Cyumba, which dropped them and run away,” said SP Minani.

He added that although most of the members of these criminal rings have been arrested, these are continuous operations targeting anyone connected to these rackets.

He advised those engaged in these criminal groups to instead channel their energy in lawful businesses instead of wasting their lives in prison when they are arrested.

Under article 263 of the law determining offences and penalties in general in Rwanda, anyone convicted for dealing in “simple narcotic drugs” faces between seven and ten years in prison and a fine of between Rwf5 million and Rwf10 million.

The deceased include three men aged 70, 65, 63 respectively, 43-year old woman from Kigali 68-year old man from Huye district.

The statement released last night shows that 964 people have caught the virus out of 8741 sample tests while 22 recovered.

The majority of new cases was found in Kigali: 326, Kamonyi: 85, Musanze: 78, Rubavu: 73, Burera: 47, Nyanza: 38, Gakenke: 32, Rulindo: 30, Rwamagana: 27, Nyamasheke: 23 and Rutsiro: 22.

New Coronavirus cases have been on steady increase that the country has registered 1825 in two days.

Rwanda confirmed the first case on 14th March 2020. Since then, 33 260 people have been tested positive of whom 26 734 recovered, 6 129 are active cases, 12 are critically ill while 397 have succumbed to the virus.

A total of 391,058 people have been vaccinated since Rwanda began countrywide inoculation programme 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.

The quartet was at the time arrested with over 20kgs of cannabis. They are Joseph Ntakirutimana, Obed Byiringiro, Thomas Nsengiyumva and Joseph Tuyizere.

Kayonza District Police Commander (DPC), Senior Superintendent of Police (SSP) Alex Fata said that Police, acting on credible information from the public, first arrested Thomas Nsengiyumva and Joseph Tuyizere in Gasabo Village, Kiyovu Cell of Ndego Sector also in Kayonza District with two sacks containing 20kgs of cannabis.

“Police received information at about 11am about two drug dealers, who were waiting for a public vehicle heading to Kabarondo. We swiftly conducted the operation and arrested Nsengiyumva and Tuyizere before boarding, with two sacks of cannabis weighing 20kgs. Tuyizere had 15kgs while Nsengiyumva had 5kgs,” said SSP Fata.

He added: “Following their arrest, Nsengiyumva and Tuyizere disclosed that they had got the narcotics from Byiringiro and Ntakirutimana, their suppliers, who were also located and arrested later. Byiringiro and Ntakirutimana also disclosed that they sneaked the narcotics into Rwanda from Tanzania, through a porous border point.”

SSP Fata lauded the impact of community policing and information sharing in particular, which facilitates to identify and arrest drug dealers and breaking rings of dealers.

The Ministerial order nº 001/MoH/2019 of 04/03/2019 establishing the list of narcotic drugs and their categorisation classifies cannabis in the category of “very severe narcotics.’’

Article 263 of law No. 68/2018 of 30/08/2018 determining offenses and penalties in general states that any person, who unlawfully produces, transforms, transports, stores, gives to another or who sells narcotic drugs and psychotropic substances, commits an offence.

Upon conviction for very severe narcotics, the offender faces between 20 years and life imprisonment, and a fine of up to Rwf30 million.