Author: Théophile Niyitegeka

  • Low return on capital in Rwanda deters Kenyan lenders

    {The low rates of return on capital in the Rwanda’s banking sector make it an unlikely destination for Kenyan lenders seeking growth opportunities in the wake of interest rate capping in that country, industry sources say.}

    Last August, Kenya capped lending rates to four per cent above the central bank’s base-lending rate, settling the lowest borrowing rate to 14 per cent. While this unsettled investors, alternatives are not yet attractive enough to pull them elsewhere in the region.

    KCB Rwanda chief executive Maurice Toroitich said that Rwanda’s banking sector needs to find a way of generating a higher return on capital to attract any surplus Kenyan capital.

    “Movement of capital is not dependant on interest rates, it depends on return on capital, there is still a big gap between returns in Kenya and returns in other regional countries, they are not yet attractive enough” said Mr Toroitich. “Banks in Kenya still make a decent return on capital, it’s around 20 per cent sector-wide, Rwanda’s banking sector stands at 9.2 per cent, which is still low.”

    It has been reported that KCB Group’s pre-tax profit is likely to fall by two per cent this year as a result of the caps, while 11 listed Kenyan banks have plunged to an average of 14 per cent, with further stock falls expected in the coming months.

    Although it is not yet determined who is going to move money, when or to which country, analysts have said it is possible that the banks which already have subsidiaries in other regional countries could rely on their existing footprint in those markets, however they will have to do this with caution and in a way that will not lead to dilution of capital.

    Right from the time the Kenyan parliament passed the cap, it was received with misgivings.

    For the past 20 years, Kenyan banks enjoyed interest rate averaging 11.4 per cent, way above the world average of 6.6 per cent. While acknowledging they were high, experts including Central Bank of Kenya Governor Patrick Njoroge did not support an interest rate peg warning it would bring rigidity in the financial system.

    Data shows that private sector credit growth in Kenya had stagnated at 4.3 per cent as at December 2016, the lowest in 16 months. The IMF recently warned Kenya on the adverse effects of the interest rate caps saying it would hinder economic growth.

    A KCB banking hall. The low rates of return on capital in the Rwanda's banking sector make it an unlikely destination for Kenyan lenders .

    Source:The East African

  • BK launches TecHouse

    {Bank of Kigali (BK) has launched BK TecHouse, a unit set to focus on technology development and creating friendly financial solutions. }

    BK TecHouse follows the recent launch of BK General Insurance and a program dubbed ‘Urumuri Initiative’ where five excellent technology projects will receive an award of Rwf 60 million.

    Regis Rugemanshuro, the CEO of BK TecHouse stressed the need of putting much emphasis on creating technologies that address clients’ problems and meet their needs.

    “We have internet services, a program dubbed ‘Urubuto’ which is applied in 29 schools and 22 students. We have security cameras in which we install software enabling a person to monitor people who entered one’s premise in absence. All of them are related to technology and internet,” he said.

    “We are developing other projects which will be unveiled soon. They are related to agriculture, health and advertising,” he added.

    ‘Urubuto Education System’ is one of programs offered by BK TecHouse. It connects parents with children’ education programs where a mobile phone is used to send information between the school and partners in children education.

    The system can be used paying school fees, sharing information on the frequency of students’ transactions, borrowing books in a library, asking permissions and following up student behaviors among others.

    The Minister of Youth and ICT, Jean Philbert Nsengimana lauded BK for maximizing benefits of technology. “When BK overcomes barriers, and expands activities to social transformations, it is a commendable act,” he said.

    “ I can say that other banks should emulate BK because the country’s development will not be exercised by one person , institution , government or one telecommunication company,” he added.

    The CEO of BK, Dr Diane Karusisi said that the bank has ambitious expansion programs.

    “Considering the Bank’s growth in the past years, where the branch network and investment portfolios grew, it is imperative to note the bank’s activities in fifty years ahead will not be based on increasing branches, but innovations,” she said.

    “We will expand activities offering various services like technology services. You already know that we launched insurance services, digital financing, among others.”

    Dr Karusisi explained that they invested Rwf 1 billion in BK General Insurance and Rwf 300 million in BK TecHouse.

    The CEO of BK, Dr Diane Karusisi and the Minister of Youth and ICT, Jean Philbert Nsengimana during the launch of BK TechHouse yesterday.
  • US ‘probably’ involved in mass Iraqi civilian deaths

    {Top US commander in Iraq says ‘fair chance’ coalition bombing had role in killing scores of people.}

    The top US commander in Iraq on Tuesday acknowledged the likelihood that the US-led coalition played a role in blasts in Mosul that killed many civilians this month, but said an investigation was under way and ISIL may also be to blame.

    “My initial assessment is that we probably had a role in these casualties… What I don’t know is were they [the civilians] gathered there by the enemy? We still have some assessments to do,” Lieutenant-General Steve Townsend told a Pentagon news briefing, speaking from Iraq.

    “I would say this, that it sure looks like they were.”

    Conflicting accounts have emerged since the March 17 explosion in al-Jadida district in west Mosul, where Iraqi forces backed by US-led coalition air strikes are fighting to clear Islamic State of Iraq and the Levant (ISIL) fighters from Iraq’s second city.

    Investigators are in Mosul to determine whether a US-led coalition strike or ISIL-rigged explosives caused a blast that destroyed buildings and may have killed more than 200 people.

    “My initial impression is the enemy had a hand in this. And there’s also a fair chance that our strike had some role in it,” Townsend said.

    “I think it’s probably going to play out to be some sort of combination. But you know what, I can’t really say for sure and we just have to let the investigation play out.”

    More than 300 civilians have been killed in west Mosul since Iraqi forces and the US-led coalition began an offensive last month to push ISIL out of its last stronghold in Iraq, the UN said on Tuesday, adding the toll could exceed 400 if new killings are verified.

    “This is an enemy that ruthlessly exploits civilians to serve its own ends, and clearly has not even the faintest qualm about deliberately placing them in danger,” UN High Commissioner for Human Rights Zeid Ra’ad al-Hussein said in a statement.

    “[ISIL’s] strategy of using children, men and women to shield themselves from attack is cowardly and disgraceful. It breaches the most basic standards of human dignity and morality,” he said.

    Hundreds of thousands more civilians are still trapped inside west Mosul after Iraqi forces and the US-coalition recaptured the city’s east from ISIL in January.

    West Mosul is both smaller and more densely populated than the city’s east, meaning this stage of the battle poses a greater danger to civilians than those that came before.

    Amnesty International’s Donatella Rovera said field research in east Mosul showed “an alarming pattern of US-led coalition air strikes, which have destroyed whole houses with entire families inside”.

    “The high civilian toll suggests that coalition forces… have failed to take adequate precautions to prevent civilian deaths, in flagrant violation of international humanitarian law,” she said.

    In the east, the Iraqi forces adopted a strategy of encouraging civilians to stay at home, dropping leaflets into the city with safety instructions for residents.

    “The fact that Iraqi authorities repeatedly advised civilians to remain at home instead of fleeing the area indicates that coalition forces should have known that these strikes were likely to result in a significant numbers of civilian casualties,” Rovera told Al Jazeera.

    Witnesses told Amnesty that people were killed in their own homes after heading government advice not to flee the city.

    The UN said it also received reports of another 95 people killed in four western Mosul neighbourhoods between March 23-26.

    The rights office said it was not in a position to provide a breakdown of the deaths caused by ISIL violence and air strikes by the international anti-ISIL coalition.

    Iraqi forces backed by US-led coalition air raids are fighting to clear ISIL from Mosul

    Source:Al Jazeera

  • Grand Mufti: Arrest of al-Aqsa guards ‘unacceptable’

    {Israeli police arrest Palestinian guards after they try to stop archaeologist from removing ancient stone from compound.}

    Jerusalem – The Grand Mufti of Jerusalem says Israel’s detention of Palestinian security guards working at the al-Aqsa compound is “unacceptable” and Israeli police are trying to change the status quo at the holy site.

    Israeli police detained several guards working at the al-Aqsa Mosque compound in occupied East Jerusalem earlier this week after they prevented an Israeli archeologist from trying to remove a stone from the religious compound.

    “I believe the Israeli police are trying to impose a new reality and are trying to intimidate the al-Aqsa guards and to stop them from carrying out their duty,” Mufti Muhammad Hussein told Al Jazeera.

    {{“That is unacceptable.”}}

    The initial confrontation happened on Monday morning after the guards at al-Aqsa intervened when Yuval Baruch, employed by the Israeli Antiquities Authority and escorted by Israeli police, entered the compound and tried to take a stone from a pillar in an underground section of the al-Qibli mosque.

    A heated argument ensued when one of the guards allegedly noticed Baruch remove a small piece of stone from the pillar and place it in his pocket. Baruch has denied trying to remove it.

    The antiquities employee was removed from the area by police, but later tried to re-enter the underground Marwani prayer hall. Al-Aqsa guards quickly refused him entry.

    Israeli police returned to the compound and arrested three guards, according to the Jerusalem Islamic Waqf, a religious trust tasked with managing the al-Aqsa compound.

    The police later raided the homes of four other guards and arrested them, before detaining another guard on Tuesday.

    Six guards remained in Israeli police custody as of Tuesday night.

    Qasem Kamal, Khalil Terhoni, Arafat Najeeb, Osama Siam, Samer Qabbani and Emad Abdeen were expected to appear before a judge in Jerusalem on Wednesday, the Waqf said.

    Israeli police told Al Jazeera in a brief statement only five people had been detained for “attacking police officers” and the incident was under investigation.

    Mufti Hussein demanded that Israel respect the status quo that has prevailed since before Israel occupied East Jerusalem in 1967.

    While Jews and non-Muslims are allowed to visit the compound, non-Muslim worship is prohibited according to an agreement signed between Jordan and Israel shortly after Israel occupied East Jerusalem in 1967.

    The agreement put Islamic Waqf in charge of the compound’s administration.

    The Mufti added that maintenance and renovation work at the compound are matters dealt with only by the Waqf and Israel has no right to intervene.

    Tensions at al-Aqsa Mosque were a significant contributor to the wave of unrest that began in October 2015, after right-wing Israelis made frequent visits to the compound during the Jewish high holidays.

    The al-Aqsa compound, also known as the Noble Sanctuary, is the third holiest site in Islam. Jews, who refer to the area as Temple Mount, also see it as a venerated holy site and believe it sits where the First and Second Temples once stood.

    Sheikh Omar Keswani, a senior Waqf official, told Al Jazeera the Israeli authority had “no business” in the al-Aqsa compound, but that it frequently “breaks in with a police force”.

    Israeli police routinely escort Jewish visitors around the compound, and they often facilitate the visits of right-wing Israeli politicians who have been charged with attempting to “change the status quo” at the holy site.

    Right-wing activist and member of parliament Yehuda Glick petitioned Israel’s High Court on Tuesday to repeal a ban barring members of Israel’s parliament – or Knesset – into the compound.

    Glick was shot and wounded in October 2014 in an assassination attempt.

    He is a member of the Temple Mount Faithful, a group that calls for “liberating the Temple Mount from Arab occupation”.

    The group advocates rebuilding a Jewish temple at the religiously important site, including the area containing the mosque.

    Israeli Prime Minister Benjamin Netanyahu said on Monday the prohibition on Knesset members and ministers visiting the al-Aqsa compound – in place since tensions erupted in December 2015 – would gradually be phased out over the course of three months, if security conditions permit it.

    An Israeli official is accused of trying to take a stone from a pillar in an underground section of the al-Qibli mosque

    Source:Al Jazeera

  • China confirms arrest of Taiwan activist Lee Ming-che

    {Beijing says the activist is being investigated on suspicion of ‘pursuing activity harmful to national security’.}

    China has confirmed it is detaining Taiwanese pro-democracy activist Lee Ming-che, who went missing last week.

    Ma Xiaoguang, spokesman for China’s Taiwan Affairs Office, said Lee was being investigated on suspicion of “pursuing activities harmful to national security”.

    Lee disappeared on March 19 after clearing immigration in Macau. He never showed up for a planned meeting later that day with a friend across the border in China’s city of Zhuhai.

    China considers the self-ruled Taiwan a breakaway province.

    Chinese authorities said Lee was in good health, but gave no information about where he was being held or other terms of his detention.

    “Regarding Lee Ming-che’s case, because he is suspected of pursuing activities harmful to national security, the investigation into him is being handled in line with legal procedures,” Ma told reporters.

    Ma said Taiwanese people coming to China for “normal” activities did not have anything to worry about and their rights would be protected.

    “The mainland has rule of law,” he said. “On this point, Taiwan compatriots can rest at ease.”

    {{‘Sensitive’ material}}

    Cheng Hsiu-chuan, president of a Taipei college where Lee worked, told the Associated Press news agency on Tuesday that Lee may have attracted the attention of Chinese security after using the Chinese social media service WeChat to “teach” China-Taiwan relations to an unknown number of people.

    “For China, the material he was teaching would be seen as sensitive,” Cheng said.

    Cheng urged Beijing to release public records, such as CCTV images, about Lee’s entry.

    He added that Lee had travelled annually to China for the past decade to see friends, saying he would discuss human rights in private but had never held any public events there.

    However, in mid-2016 Chinese authorities shut down Lee’s WeChat account and confiscated a box of books published in Taiwan on political and cultural issues, Cheng said.

    “According to the news we’ve gotten, the state security bureau there doesn’t know how to handle Lee’s case,” Cheng said.

    Taiwan’s presidential spokesman Alex Huang said on Tuesday that the Mainland Affairs Council had “engaged” and that it will do its “best”.

    Lee’s wife, Lee Ching-yu, said the Taiwanese government agency also told her this week it had indirect information pointing to a Chinese state security detention.

    “I want the government of China to act like a civilised country and tell me what they’re doing with my husband on what legal grounds and, like a civilised country, what they plan to do with him,” Lee said.

    She added that her husband might be in need of hypertension medicine.

    In June, China halted communications with Taiwan, a move triggered by Taiwan President Tsai Ing-wen’s failure to endorse the “one China” principle, which requires countries that seek diplomatic relations with China to break official relations with Taiwan.

    China and Taiwan split amid civil war in 1949. China insists the two sides must eventually unify – by force if necessary.

    Chinese authorities said Lee Ming-che was being investigated on "pursuing activities harmful to national security".

    Source:Al Jazeera

  • Ivory Coast’s former first lady Simone Gbagbo acquitted

    {A court in Ivory Coast has acquitted the country’s former first lady, Simone Gbagbo, of crimes against humanity.}

    The charges related to the violence that followed the 2010 presidential poll when her husband, Laurent, refused to accept defeat to Alassane Ouattara.

    The majority of the judges dismissed the prosecution’s argument that Simone Gbagbo, 67, headed a crisis cell and tried to buy weapons.

    She is already serving a 20-year prison term for undermining state security.

    Ivory Coast has refused to extradite her to the International Criminal Court (ICC) in The Hague, where Laurent Gbagbo is on trial for crimes against humanity.

    The ICC has issued a warrant for Simone Gbagbo on similar charges.

    More than 3,000 people died in the violence after the 2010 presidential poll.

    Laurent and Simone Gbagbo were arrested in 2011 after troops stormed a bunker where the pair had taken refuge in the main city, Abidjan.

    Simone Gbagbo is already serving a 20-year prison term

    Source:BBC

  • Attacks on Nigerian students shock India

    {India’s Foreign Minister Sushma Swaraj has promised an “impartial” inquiry into attacks on Nigerian students living in Noida, near Delhi.}

    The attacks were prompted by the death of a local teenager due to a drug overdose. His parents blame Nigerian students for giving him the drugs.

    Five Nigerian students were attacked on Monday by crowds, while another was beaten by a mob inside a shopping mall.

    Police say five people have been arrested over the attacks.

    Ms Swaraj said she had spoken to Uttar Pradesh Chief Minister Yogi Adityanath, and he had assured her of a “fair and impartial investigation into this unfortunate incident”.

    The attack on the student inside a popular shopping mall in Noida was recorded on mobile phone cameras by other shoppers and widely circulated on social media.

    The victim told Indian reporters he had been beaten with rods, bricks and knives. He said that no one had helped or even called the police.

    The reactions have been mostly those of shame and outrage.

    Alkahba Solomon, a student in Noida, told the BBC that the situation was not “favourable for Nigerian students”.

    “Everybody is indoors. But the problem we are having right now is some of the landlords are telling African students to vacate from their house. These are the problems,” he said.

    Meanwhile, the Association of African Students of India, has asked African students in Noida to stay at home and not attend classes on Tuesday.

    There was a spate of attacks on African nationals living in India last year, including one in which a Congolese man was beaten to death in Delhi.

    African students often complain that they are racially abused in India

    Source:BBC

  • DR Congo protests turn violent after power-sharing talks collapse

    {Police have fired tear gas and bullets to disperse opposition protesters in the Democratic Republic of Congo capital, Kinshasa.}

    The protests erupted when negotiations aimed at securing the departure of President Joseph Kabila after 17 years in power collapsed.

    Religious leaders mediating the talks said politicians were acting selfishly.

    The outline for a power-sharing deal in the country was agreed last year but the details have proved tricky.

    Bishops who had mediated between the government and the opposition called off the talks because, they said, politicians had failed to agree on issues such as the choice of a transitional prime minister.

    Announcing the bishops’ withdrawal from the talks, the head of the National Episcopal Conference of Congo, Archbishop Marcelle Utembi, said the politicians had failed to “prioritise the interests of the nation”.

    Demonstrators angry at the collapse of talks with the government later gathered outside the house of Etienne Tshisekedi, the opposition figurehead who died last month and whose party has called on the outside world to stop recognising Mr Kabila as president.

    The protests were followed by clashes with riot police and a number of people are reported to have been injured.

    Mr Kaliba’s mandate expired in December and the opposition has accused the government of sabotaging efforts to offer him a peaceful exit.

    So far protests have been sporadic and police deployed in the capital have managed to control the crowds.

    The main opposition Union for Democracy and Social Progress party has called on people to come out in Kinshasa for a “peaceful march” on 10 April “to resist the dictatorship taking root in our… country”.

    {{Why is Kabila still president?}}

    President Kabila was supposed to step down by December last year, when his constitutionally limited time in office came to an end.

    But the electoral commission failed to organise an election to choose a replacement, citing logistical and financial difficulties.

    Roman Catholic leaders then brokered talks between the government and opposition parties and an outline deal was agreed right at the end of last year.

    According to the deal, Mr Kabila was to lead a transitional government until elections due to be held by the end of 2017.

    But the talks broke down over the make-up of the transitional government.

    Protesters gathered outside the home of the late opposition leader Etienne Tshisekedi

    Source:BBC

  • Bodies of missing UN experts in DR Congo found

    {Two foreign UN contractors who were kidnapped in DR Congo have been found dead, one of them decapitated, the government said Tuesday, as spiralling violence in the vast country sparked international condemnation.}

    The bodies of American Michael Sharp and Swedish national Zaida Catalan were found as the UN Security Council prepared for a vote on Wednesday on extending its peacekeeping mission in the Democratic Republic of Congo.

    UN Secretary-General Antonio Guterres vowed that the world body would do “everything possible” to bring justice in the case.

    “Michael and Zaida lost their lives seeking to understand the causes of conflict and insecurity in the DRC in order to help bring peace to the country and its people,” the UN chief said.

    “I trust that the Congolese authorities will conduct a full investigation into this incident. The United Nations will also conduct an inquiry. In case of criminal acts, the United Nations will do everything possible to ensure that justice is done.”

    {{VIOLENCE}}

    The two were kidnapped by unidentified assailants on March 12 along with four Congolese accompanying them in Kasai-Central province.

    Government spokesman Lambert Mende said the woman’s body had been decapitated.

    The remote region has been plagued by violence since mid-August, when government forces killed Kamwina Nsapu, a tribal chief and militia leader who had rebelled against President Joseph Kabila’s central government.

    The violence has spilled over from Kasai to the neighbouring provinces of Kasai-Oriental and Lomami, leaving at least 400 people dead.

    Several days before the two UN experts were kidnapped, a Uruguayan peacekeeper was shot and injured in the same region.

    Sharp’s father, John Sharp, said there was a “high probability” the bodies were those of his son and Catalan.

    “Dental records and DNA samples will be used to confirm the identities. This will take some time,” he added on Facebook.

    {{39 OFFICERS KILLED}}

    On Monday, Congolese national police accused rebels of massacring 39 of their officers in Kasai.

    The victims were killed in an “ambush” early Friday as they were travelling in trucks, and buried in a mass grave by supporters of the late Kamwina Nsapu, a police spokesman said.

    Jordan Anderson, Africa analyst for IHS Markit, cited reports that all 39 had been beheaded.

    The Kamwina Nsapu militia “is increasingly taking violent and hostile action against anyone it sees as being outsiders, interfering in the Kasai,” he said.

    The United Nations, European Union and African Union on Tuesday expressed “grave concern” over the spiralling violence in Kasai.

    The organisations “condemn this despicable act and express their condolences to the families of the victims,” they said.

    They called for an “urgent response from the country’s political leaders” to curb the violence and “urge the defence and security forces to exercise restraint in the efforts to restore order in the Kasai.”

    The UN Security Council is set to vote on Wednesday on extending its mission in the DR Congo, the largest and costliest UN peacekeeping mission in the world.

    The UN has 19,000 soldiers, police and military observers deployed in the mission, costing $1.2 billion annually.

    About 100 of those troops were recently dispatched to the Kasai region.

    {{PLAYING WITH FIRE}}

    France warned last week that drastic cuts to the mission would be tantamount to “playing with fire” as the DRC is also embroiled in election turmoil.

    France has circulated a draft resolution to renew the mandate of the peacekeeping mission, but is facing scrutiny from the United States which is seeking cuts to UN peace operations.

    The influential Catholic Church in DR Congo brokered a deal in late December to pave the way for elections by the end of 2017, but the agreement has been bogged down in disputes over the appointment of a new prime minister.

    Elections would bring an end to the rule of Kabila, in power since 2001.

    The Church and the electoral commission said earlier this month that the growing unrest in Kasai threatened to derail voter registration.

    Police reinforcements meanwhile were sent to strategic points in the capital Kinshasa on Tuesday after clashes between demonstrators and officers in several districts, where tyres were burned and roads blocked.

    A UN mission in DR Congo armoured personnel carrier patrols on November 5, 2013 on Chanzu hill, Goma. Two foreign UN experts who were kidnapped in DRC have been found dead.

    Source:AFP

  • Uganda:Police, Besigye in cat and mouse chase

    {Kayunga District was yesterday the stage for cat and mouse chase scenes between police and Opposition politicians led by former presidential candidate Kizza Besigye.}

    The politicians were in the area to hold a rally in support of their anti-land grabbing campaign dubbed “My Land, My Life.”

    The district has for years been a hotbed for quarrels between land owners and tenants, occasionally culminating into violence.

    Chaos ensued in the afternoon along Ssezibwa bridge when police led by the Savannah Regional police spokesperson, Mr Lameck Kigozi, blocked a convoy enroute to Bbaale Town where the campaign rally had been planned but realised later that Dr Besigye was not at the scene although his car was there.

    A war of words ensued between Kampala Lord Mayor Erias Lukwago and Mr Kigozi, who demanded that the former produces a clearance permit from the Inspector General of Police, Gen Kale Kayihura, allowing them to hold a rally.

    The scuffle lasted for about 30 minutes, and on realising that Dr Besigye had beaten the security ring, police allowed the convoy to proceed to Bbaale amid tight security.

    Meanwhile at Bbaale, rally organisers told this newspaper that they had prepared as early as 11am but were dispersed by police officers who removed the tents, disorganising the entire setting.

    Police escorted Mayor Lukwago’s convoy up to the venue, where from no-where, Dr Besigye surfaced and after brief moment haggling, was allowed to address the crowd that cheered loudly. Police also learned from here that Dr Besigye had used a different route to the area.

    In his address, Dr Besigye said after selling off nearly all State enterprises in the 1990s, the [NRM] government was out of things to take over and now was after people’s land which he urged them to defend.

    “The one who stops you from knowing those who steals your land is part of those who steal your land,” he noted, taking a swipe at police, which he accused of always working with influential individuals to evict people from their land.

    The rally lasted for about 10 minutes. At around 7pm, police started dispersing the crowds and later escorted Dr Besigye and other politicians out of Kayunga.

    {{The law}}

    The law gives tenants more rights to resist eviction by landlords. According to the law, land lords need a court order to evict tenants and must notify them before selling their land but some of these conditions are never followed and many tenants are being pushed off their land without court orders and due compensation.

    Welcomed. Former FDC leader Kizza Besigye waves to residents of Bbaale in Kayunga District during his ongoing anti-land grabbing campaign yesterday.

    Source:Daily Monitor