Author: Sam K. Nkurunziza

  • The growing impact of collective investment schemes in Rwanda’s Capital Market

    The growing impact of collective investment schemes in Rwanda’s Capital Market

    The virtual event brought together key industry leaders to educate the public on the advantages, risks, and accessibility of CIS.

    CIS are investment funds that gather money from multiple investors and allocate it into a diversified portfolio of assets. These schemes offer several benefits, including professional fund management, lower investment risk through diversification, and access to investment opportunities that may be difficult for individual investors to reach.

    In Rwanda, two CIS are currently licensed: the RNIT Iterambere Fund and the BKC Aguka Fund. By the end of December 2024, their total assets under management (AUM) had grown to RWF 67.49 billion, with 34,465 unit holders, up from RWF 64 billion and 28,895 unit holders in June 2024.

    This growth reflects increasing investor confidence and participation in Rwanda’s capital markets.
    Agnes Nyirankeza, CEO of BCP Investment Managers noted that “The CIS industry can help create quality jobs in Rwanda by employing financial analysts and portfolio managers. It is a crucial part of our economy, offering diverse investment opportunities with professional management.”

    Siongo Kisoso, Managing Director of BK Capital stressed that “The future of CIS in Rwanda is bright. As the market develops, we expect greater innovation, increased investor participation, and a wider range of investment options. CIS provide a balanced approach, combining professional management with accessibility and risk diversification.”

    Jonathan Gatera, CEO of RNIT Iterambere Fund said that since launching in 2016 as Rwanda’s first CIS, the RNIT Iterambere Fund has grown its assets from RWF 3 billion to over RWF 45 billion.

    “Investors can start with as little as RWF 2,000 and only need an ID card. The Net Asset Value per unit has increased from RWF 1,000 to RWF 1,238, reflecting an annual net return of about 11.78%. We plan to introduce more schemes to enable broader participation,” he said.

    Pierre-Célestin Rwabukumba, CEO of the Rwanda Stock Exchange (RSE) expressed commitment to educating the public on CIS, as they provide the easiest access to the market.

    “I encourage BK Capital to consider listing on the RSE for visibility, and I urge all stakeholders to introduce more CIS and investment products to expand opportunities for everyone,” he advised.

    Thapelo Tsheole, CEO of the Capital Market Authority (CMA) explained that CIS offer the simplest entry point for market investment.

    “To enhance productivity, we must create more schemes, develop new investment products, and invest in technology. By working together, we can broaden the scope of CIS in Rwanda,” he said.

    As Rwanda’s capital markets continue to expand, the rise of CIS will play a key role in driving financial inclusion and economic development, providing investors with accessible and secure long-term investment opportunities.

    Rwanda’s financial sector is expanding, creating more opportunities for investors to grow their wealth including Collective Investment Schemes (CIS).
  • M23 Leader Bertrand Bisimwa dismisses Kinshasa’s claims on Goma deaths

    M23 Leader Bertrand Bisimwa dismisses Kinshasa’s claims on Goma deaths

    In a statement on X, Bisimwa accused the Kinshasa regime of engaging in a shameful controversy over the matter. He insisted that the fallen soldiers, comprising FARDC troops and allied groups, including Wazalendo, FDLR, FDNB, and mercenaries were killed in battle after rejecting a chance to surrender.

    “It is well known and widely acknowledged, through videos that circulated around the world, that the defeated FARDC and their allies refused to comply with the order from our forces to surrender their weapons to MONUSCO and be confined at the Stade de l’Unité,” Bisimwa stated.

    According to the M23 leader, the Congolese forces instead chose to fight in the city center, where they were ultimately neutralized. He revealed that their bodies were collected by health authorities, stored at Goma Hospital’s morgue, and later buried.

    Bisimwa further claimed that no family in Goma is mourning these deaths, implying that the casualties were exclusively government troops and their foreign allies, rather than civilians.

    The Congolese government has not responded directly to Bisimwa’s statement, but officials in Kinshasa have previously accused M23 of committing atrocities in Goma.

    Currently, the bustling capital of North Kivu Province, is experiencing an unusual calm after days of intense fighting as the M23 rebel group has solidified its control.

    However, the city remains a focal point in the ongoing conflict between the rebels and government forces as international observers continue to monitor the situation amid concerns over the humanitarian impact of the fighting.

    Bertrand Bisimwa says that the Congolese forces chose to fight in the city center where they were ultimately neutralized.
  • EPL consider punishing players over goal celebrations

    EPL consider punishing players over goal celebrations

    The news comes after some players received criticism for celebrations many feel crossed the line by mocking opponents. Iliman Ndiaye received a yellow card after he scored Everton’s winner against Brighton and then celebrated by flapping his arms like a seagull.

    But when Myles Lewis-Skelly mimicked Erling Haaland in his goal celebration at the Emirates, he received no punishment. Arsenal went on to beat Manchester City 5-1 on Sunday.

    Former Arsenal forward Theo Walcott praised Lewis-Skelly for his strength of character, saying: “He was not afraid of Haaland at all.”

    However, Gary Neville and Jamie Carragher both said they thought the 18-year-old’s actions were disrespectful. The celebration came after Haaland mocked the Lewis-Skelly at the end of an ill-tempered 2-2 draw at the Etihad in September, taunting him by asking: “Who are you?”

    In the past, Jamie Vardy has mimicked an eagle when scoring against Crystal Palace and was criticized by some for his interactions with the Tottenham supporters at the end of last month, when Leicester beat Tottenham 2-1. He received no caution for either action.

    Similarly, Neal Maupay was thought to be mocking James Maddison when he copied the midfielder’s darts celebration after scoring for Brentford against Spurs a year ago.

    Maddison then criticized Maupay in his post-match interview and the forward hit back on social media.
    This season, Phil Foden and Joshua Zirkzee have pretended to fire guns towards the crowd after scoring goals but received no punishment.

    In the NFL, players who imitate the shooting of weapons when celebrating face heavy post-match fines.
    The Premier League’s chief football officer, Tony Scholes, said: “There’s a balance. I think we all like to see celebrations. Some of the celebrations have been very funny, entertaining, but there’s a line.

    “Once it crosses over into mockery or criticism then we would need to deal with it.”

    The Premier League may consider imposing punishments on individual players over goal celebrations.
  • Seven nabbed in electricity infrastructure theft crackdown

    Seven nabbed in electricity infrastructure theft crackdown

    The suspects, aged between 40 and 53, were presented to the media on Wednesday, February 5, after being caught with stolen equipment from power distribution networks.

    During separate police operations in Kicukiro, Gasabo, and Rulindo districts, authorities seized 445 electrical fuses and 295 meters of electric cables from the suspects, who were conducting illegal trade.

    ACP Boniface Rutikanga, spokesperson for Rwanda National Police, stated that efforts to combat such crimes will not only target the thieves but also those who knowingly buy and resell stolen equipment.

    “Tracking down thieves alone is not enough. We must also go after their buyers. All seven suspects failed to explain the source of the materials they were caught with. Investigations confirmed that these items had been stolen from major power networks in different areas,” Rutikanga explained

    “Two suspects were apprehended in Zinia, Kicukiro District, four in Gisozi, Gasabo District, and one in Rulindo District. These individuals are responsible for power outages and disruptions that affect public safety. The consequences of their actions are serious, and we will not tolerate them. These arrests were made in just one week, and operations will continue to track down others still engaged in this crime,” he added.

    Rutikanga also warned business owners selling electrical materials without proof of origin, stating that they would be treated as accomplices in infrastructure vandalism.

    On his part, Geoffrey Zawadi, Head of Partnerships at REG, described the destruction of electricity infrastructure as a criminal act that hinders national progress.

    “These criminals are sabotaging efforts to provide electricity to all Rwandans. Allowing such acts to continue is like pouring water into a basket, progress will never be achieved. We must unite and be stronger than those destroying public infrastructure. A handful of people cannot be allowed to repeatedly sabotage national projects, forcing the country to repair the same damages instead of moving forward,” he emphasized.

    Meanwhile, Joseph Mutabazi, Head of the Inspection Unit at RICA, urged traders dealing in electrical equipment to comply with regulations, emphasizing that authorities, in collaboration with security agencies, are conducting continuous inspections. He also advised consumers to be vigilant when purchasing electrical materials.

    “When buying such equipment, always ask for a receipt and verify the source. Customers have the right to know where the products they purchase come from.”

    Authorities reaffirmed their commitment to cracking down on the theft and illegal trade of electrical infrastructure, ensuring that all those involved face legal consequences.

    The suspects, aged between 40 and 53, were presented to the media on Wednesday, February 5, after being caught with stolen equipment from power distribution networks.
  • Senators speak out on Rwanda’s commitment to refugee welfare and development

    Senators speak out on Rwanda’s commitment to refugee welfare and development

    They highlighted Rwanda’s commitment to providing opportunities that improve the lives of refugees while fostering a sense of inclusion.

    During a plenary session held on February 5, 2025, the Rwandan Senate reviewed a report presented by the Committee on Foreign Affairs, Cooperation, and Security on the implementation of the 1951 Geneva Convention on Refugees.

    The report detailed how Rwanda assists refugees in various sectors, including education, healthcare, employment, environment, and sanitation. Senator Hadidja Murangwa Ndangiza, the committee chairperson, emphasized that Rwanda offers a welcoming environment and equal opportunities for all.

    She noted that 848 schools across the country enroll refugee children, and six vocational training institutions provide them with technical skills. Additionally, some universities, including Kepler, offer scholarships to high-achieving refugee students, ensuring they have access to quality education.

    Beyond education, the government has allocated 136.8 hectares of land for agricultural activities benefiting both refugees and local communities. Initiatives like the “Jya Mbere” project have also helped refugees improve their lives by providing business support and investment opportunities.

    In healthcare, many refugees now benefit from Rwanda’s community-based health insurance scheme (Mutuelle de Santé) and other services aimed at improving their well-being.

    Despite these achievements, some challenges persist. High unemployment rates among refugees, outdated infrastructure, and difficulties accessing financial loans due to a lack of collateral remain significant obstacles.

    Senator Murangwa urged refugees to take ownership of their challenges and seek solutions within their communities. “They should understand that they must be part of the solutions to their problems, just like Rwandans, and embrace Rwanda’s culture of self-reliance,” she said.

    She reiterated Rwanda’s boundless commitment to integrating refugees into national development programs, working with various institutions to address existing challenges.

    “Although there are still obstacles in fully implementing Rwanda’s commitments, the country remains determined to enhance refugee inclusion in national development,” she added.

    High unemployment rates among refugees and outdated infrastructure still remains a challenge.

    Similarly, Senator Cyprien Niyomugabo commended the country’s efforts in ensuring that refugees do not only receive support but also learn values that encourage self-reliance. “All the good initiatives supporting refugees do not happen by chance; they stem from Rwanda’s core values, including patriotism,” he reaffirmed.

    He also praised the education system for integrating refugee children with Rwandan students, fostering a culture of hospitality and respect for human rights and dignity.

    In the same spirit, Senator Evode Uwizeyimana acknowledged Rwanda’s exceptional approach to refugee support but expressed concern that some refugees remain focused on seeking relocation abroad rather than working toward self-sufficiency.

    “Some refugees dream of being relocated to places like Arizona or Canada, which affects their mindset and ability to work towards self-sufficiency,” he noted.

    Senator Prof. Penina Uwimbabazi emphasized that Rwanda’s treatment of refugees reflects its commitment to valuing all people, ensuring they feel included and supported.

    Currently, Rwanda hosts over 134,000 refugees, with 61% (82,262) from the Democratic Republic of Congo and 38% (51,134) from Burundi. These refugees are accommodated in various camps, including Mahama, Kigeme, Nyabiheke, and Mugombwa.

    Some refugees have the opportunity to venture into farming programs.
    Many refugees are engaged in business projects.
  • RNP shines at UAE SWAT challenge 2025

    RNP shines at UAE SWAT challenge 2025

    RNP SWAT Team One broke their own record time as they emerged the overall best in ‘Obstacle Event’ at the UAE Special Weapon and Tactics (SWAT) Challenge, which concluded on Wednesday, February 5, in Dubai.

    The Rwanda elite Police team won in record time 03:46.2, to take gold, beating other 102 teams from over 70 countries that participated in the five-day Challenge. They smashed their 03:54 record, which they set in the fifth edition, last year.

    China Police Team B came second to win silver while China Police Team C won bronze. RNP SWAT Team 2 came 12th in Obstacle Course, which was the last event of the sixth edition. Overall, RNP SWAT Team One came in the 10th position while SWAT Team Two was 18th.

    The five-day Challenge saw 103 team from across the globe, competition in five high demanding challenges. They include Assault Event, Tactical Event, Officer Rescue, Tower Event and Obstacle Course.

    This was Rwanda National Police’s fourth participation in the global SWAT Challenge.

    It is designed to enhance global law enforcement practices, strengthen cooperation and sharing of best practices among SWAT teams worldwide while highlighting mental sharpness and physical endurance in diverse tactical scenarios.

    Rwanda National Police SWAT Team 1 was the best-performing African team in the competition.
    The Rwanda National Police Special Weapons and Tactics (SWAT) teams performed exceptionally well.
  • Uganda’s first female Police Officer Pauline Bangirana dies at 85

    Uganda’s first female Police Officer Pauline Bangirana dies at 85

    Her death was confirmed by ASP Charles Twiine, head of the Criminal Investigations Department at Parliament Police, who acknowledged her significant contributions to Uganda’s law enforcement history.

    “She broke barriers in 1960 and paved the way for women in law enforcement. I hope the Uganda Police honors her legacy with an official burial,” ASP Twiine posted on X. Details regarding the cause of her death and the location where she passed away were not immediately available.

    Bangirana, alongside another woman identified as Ms. Rukidi, was among the first two female recruits to join the Uganda Police Force in 1960. They were later joined by eight more women, forming the pioneering group of female officers in what had been a male-dominated force.

    One of the last surviving members of that trailblazing cohort, Bangirana often spoke about the challenges she and her fellow female officers faced. Among the most significant hurdles were restrictions on marriage and pregnancy.

    In her 2022 autobiography, To Be Shrewd Without Appearing a Shrew, she detailed the stringent rules that required female officers to seek permission to marry and stipulated that pregnancy would result in dismissal.

    After marrying in 1965 with official approval, Bangirana had to fight for her right to remain in the police force when she became pregnant. Her superior, known as ‘Sir Richard,’ recommended her resignation, citing Police Standing Order Chapter 3, which mandated that pregnant policewomen either resign voluntarily or face dismissal.

    Determined to challenge the policy, Bangirana directly appealed to then-Inspector General of Police Erinayo Wilson Oryema, arguing that she had followed the proper procedures and should not be penalized for pregnancy.

    Oryema granted her 36 days of annual leave and an additional 90 days of unpaid leave, a decision that marked a turning point in improving conditions for women in law enforcement.

    During her career, Bangirana noted that female officers were primarily assigned cases involving women and children, such as taking statements from rape victims and searching female suspects. However, she was proud of how the situation evolved over time, with women now holding senior command positions in the Uganda Police Force.

    She lived to see female officers fully integrated into the force, taking on leadership roles and rising through the ranks—progress she attributed to the resilience of the early female recruits who pushed back against gender-based restrictions.

    Bangirana’s legacy is one of perseverance and progress for women in law enforcement. Her passing marks the end of an era in Uganda’s policing history. Calls for the Uganda Police Force to accord her an official burial in recognition of her contributions continue to grow.

    Pauline Maniraguha Bangirana is the first female who joined the Uganda Police Force in 1960.
  • Washington freezes funding for Kenya-led security mission in Haiti

    Washington freezes funding for Kenya-led security mission in Haiti

    Powerful gangs, armed with weapons largely trafficked from the United States, have united in the Caribbean country’s capital Port-au-Prince under a common alliance and now control most of the city and are expanding to nearby areas.

    The international security mission, while approved by the UN Security Council, is not a United Nations operation and currently relies on voluntary contributions. The mission has so far made little progress toward helping Haiti restore order.

    There are around nearly 900 police and troops from Kenya, El Salvador, Jamaica, Guatemala and Belize. As at the end of 2024. US$110.3 million had been pledged by several countries, including the USA, Canada, France, Turkey, Spain, Italy, and Algeria.

    $85 million had been received by the Trust Fund, including substantial amounts from the United States.
    “The US had committed $15 million to the trust fund, $1.7 million of that had already been spent, so $13.3 million is now frozen,” UN spokesperson Stephane Dujarric told reporters. “We received an official notification from the U.S. asking for an immediate stop work order on their contribution.”

    Just hours after taking office on January 20, Trump ordered a 90-day pause so foreign aid contributions could be reviewed to see if they align with his “America First” foreign policy.

    Trump has said that he thinks he will wind down the US Agency for International Development, in what would be a dramatic overhaul of how the world’s largest single donor allocates foreign assistance.

    Meanwhile, Government Spokesperson, Dr. Isaac Mwaura has dismissed claims that the US funding freeze for the Haiti Multi-National Security Support mission (MSS) will jeopardize the operations as false and lack any factual basis.

    The MSS mission is supported by the UN Trust Fund for Haiti, established under United Nations Security Council Resolution 2699 in October 2023.

    “While a portion of the undisbursed US contribution amounting to $15 million has been temporarily held due to the US presidential directive, the Fund remains well-resourced to support the mission until the end of September 2025,” Mwaura said in a statement.

    According to him, Kenya and its partners remain fully committed to ensuring the mission transitions to a full UN-led operation to guarantee its long-term financial sustainability and security mandate.

    US funding to support a peace mission in Haiti has been frozen under President Donald Trump’s 90-day pause on foreign aid.
  • FARDC suffers heavy losses as 2,500 soldiers die in M23 Goma clashes

    FARDC suffers heavy losses as 2,500 soldiers die in M23 Goma clashes

    Goma, the capital of North Kivu province, fell into M23’s hands on January 26, 2025, forcing government forces, its allied militias and some foreign mercenaries to flee.

    Upon occupying Goma, M23 fighters found abandoned FARDC military equipment scattered across the streets, including armored vehicles and firearms. Some civilians had fled the city, while others remained indoors, waiting for the situation to unfold.

    Witnessing the aftermath of battle was unbearable as the streets were littered with FARDC military vehicles still containing the bodies of fallen soldiers, many of whom had been killed at their posts while those who survived managed to escape.

    According to UN estimates, around 3,000 people were killed in the battle for Goma, with 2,500 of them being FARDC soldiers, Wazalendo fighters, and their allies. FARDC soldiers who fled to Rwanda told IGIHE that they had no choice but to cross the border after realizing they were completely surrounded by M23.

    “The troops defending Goma were stationed at the airport, but the battle tactics were unclear. How were we supposed to defend the airport when the enemy had already surrounded the entire city and started firing? asked one of the soldiers

    “There was no way we could secure a position that was already encircled. As soon as the shooting intensified, we suffered heavy casualties. When I realized we were being gunned down, I knew things had gone terribly wrong,” he added.

    As the gunfire subsided in Goma, displaced civilians began returning home, and daily life slowly resumed. In other areas now under M23 control, those previously sheltered in internal displacement camps also started going back to their villages.

    For instance, the Kanyarucinya camp has been closed as all its inhabitants returned to their homes in Nyiragongo territory. Reports indicate that M23 facilitated the repatriation of civilians from the Mugunga camp back to Masisi.

    Analysts suggest that the UN, which has deployed MONUSCO troops in eastern DRC since 1999, has contributed to regional instability. They argue that the UN is now distorting facts on the ground to justify its continued presence in the country.

    Meanwhile, many UN staff members have fled eastern DRC, crossing into Rwanda through the Rubavu border en route to Kinshasa and other locations.

    Abandoned FARDC military equipment was found scattered across the streets.
    Some members of the government forces and its allied militias were forced to flee.
  • Decomposing bodies of SA soldiers left unattended in Goma

    Decomposing bodies of SA soldiers left unattended in Goma

    Among the bodies are soldiers who died fighting M23 in its battle to capture the city, as well as others who lost their lives in combat around Sake.

    South African opposition politician Julius Malema revealed that a soldier stationed in Goma reported how his fallen comrades’ bodies had begun to rot.

    “We were informed that the bodies are decomposing. There is no way to retrieve them. The South African military base near Goma’s airport has been taken over. Our soldiers are in M23’s hands. When they need to use the restroom, they have to ask M23 for permission, and they are escorted there. This was reported by a soldier on the ground,” Malema stated.

    He accused the South African government of hiding the truth about the situation, claiming they have chosen to mislead the public about the real reasons behind the troops’ deployment to the DRC.

    South Africa has announced that the bodies of the fallen soldiers will be repatriated on Wednesday, February 5, 2025. However, concerns remain over how this will be executed, given that air and sea routes have been blocked. The only viable option is to transport the bodies through Rwanda.

    Reports indicate that Rwanda had granted South Africa permission to use its territory for repatriation, but South Africa allegedly refused the offer.

    South African opposition politician Julius Malema revealed that a soldier stationed in Goma reported how his fallen comrades’ bodies had begun to rot.