The retail price for gasoline decreases by RWF 101, to retail at RWF 1,663 per litre for the next two months, while diesel will retail at RWF 1,652, down from RWF 1,684.
The new pump prices will take effect at 9:00 pm on Wednesday.
Global market dynamics
“These adjustments are based on recent fluctuations in international petroleum product prices,” RURA Director General Rugigana Evariste explained.
New fuel pump prices for the next two months, effective from 05 June 2024, at 9:00PM. pic.twitter.com/jlTHENxOro
Before the last review in April, which saw the retail price of fuel revised upwards, gasoline was priced at RWF 1,637 per litre, and diesel at RWF 1,632 per litre.
Brent crude oil averaged $90 per barrel in April with the conflict between Ukraine and Russia exacerbating the oil market’s instability.
The price of Brent oil per barrel has been fluctuating ever since to retail at $77.1 on Tuesday, May 4, 2024. Further, the price of West Texas Intermediate (WTI) Crude Oil plummeted by 1.5 per cent to retail at $73, down from the $77.3 on Monday.
Last month, the price of Brent oil was around $85 per barrel, while WTI oil prices hit $81 in May.
The Head of State, credited with spearheading various policy and economic transformations in Rwanda, was honoured during his trip to South Korea, where he attended the inaugural Korea-Africa Summit.
“I would like to thank you for the tremendous honour you have bestowed on me and my country with the award of this honorary doctorate,” Kagame stated in his acceptance speech.
“This is my fourth visit to Korea but my first to the Yonsei campus, I wish that our connection had started much earlier,” he added.
In his speech, President Kagame emphasized the importance of public policy in nation-building, especially in the aftermath of the 1994 Genocide against the Tutsi in Rwanda, saying, “The purpose of public policy is to make our citizens safe, united, free, creative, and prosperous, more or less in that order.”
“We inherited a country that was completely broken and devastated physically, financially, and spiritually. Our people were displaced and divided. Establishing security was our first policy objective; without it, nothing else is possible.”
Founded in 1885, Yonsei University is one of the top private Universities in South Korea. The university boasts of 158 research centres.
The South Korean varsity has multiple campuses, with the Sinchon campus in Seoul as its main location. Other locations include the International Campus in Songdo, which opened in 2010, and the Wonju Campus.
During his visit to the university’s campus in Seoul, President Kagame held discussions with Professor Dong-Sup Yoon and faculty members about furthering the partnership and increasing the number of Rwandan students.
Korea-Africa summit
During the Korea-Africa summit that attracted 48 African leaders, President Paul Kagame called for more partnerships between Africa and South Korea, emphasizing that the two regions stand to benefit from each other’s immense resources and potential.
President Kagame said “the moment was long overdue”, praising Korea as a strategic partner for Africa.
“Korea is a global pivotal state and Africa is a pivotal continent. It’s only natural for us to draw closer together in the years ahead for many reasons. First, Korea knows the value of sovereignty and independence as well as the struggle required to achieve accountable and inclusive politics. Those experiences allow us to look at each other eye to eye with mutual respect and admiration,” President Kagame said in his address on Tuesday.
President Kagame noted that Africa has much to learn from Korea’s rapid economic transformation over the past few decades, emphasizing the need to invest in political stability, health, education, and technology.
“Korea’s experience shows that a country can be radically transformed in the course of a generation. Is there any explanation why Africa has not become a high-income continent? Africa can go much faster and there is no better way than focusing on stability, health, education and technology. All of these are possible depending on how we address our security and governance challenges. Africa’s young people need these opportunities. It’s possible,” the Head of State said.
Africa, President Kagame explained, stands to benefit from cutting-edge innovations from Korea to boost advancements in various sectors, including Artificial Intelligence (AI).
Speaking during the inaugural Korea-Africa Summit in Seoul on Tuesday, June 4, President Kagame said “the moment was long overdue”, praising Korea as a strategic partner for Africa.
“Korea is a global pivotal state and Africa is a pivotal continent. It’s only natural for us to draw closer together in the years ahead for many reasons. First, Korea knows the value of sovereignty and independence as well as the struggle required to achieve accountable and inclusive politics. Those experiences allow us to look at each other eye to eye with mutual respect and admiration,” President Kagame said in his address.
President Kagame noted that Africa has much to learn from Korea’s rapid economic transformation over the past few decades, emphasizing the need to invest in political stability, health, education, and technology.
“Korea’s experience shows that a country can be radically transformed in the course of a generation. Is there any explanation why Africa has not become a high-income continent? Africa can go much faster and there is no better way than focusing on stability, health, education and technology. All of these are possible depending on how we address our security and governance challenges. Africa’s young people need these opportunities. It’s possible,” the Head of State said.
Africa, President Kagame explained, stands to benefit from cutting-edge innovations from Korea to boost advancements in various sectors, including Artificial Intelligence (AI).
“Partnerships with Korea have focused on the cutting edge of innovation, helping bring the latest technologies to Rwanda and Africa more quickly. This summit serves to remind us that even more can be done. From artificial intelligence and robotics to small model nuclear reactors to driving the energy transition with critical raw materials, Africa and Korea should be working side by side.”
He insisted that Africa, on the other hand, has much to offer in its partnerships with Korea, especially in ongoing efforts to create a single continental market for goods and services in Africa through the African Continental Free Trade Area (AfCFTA).
“Notably, by taking advantage of the African Continental Free Trade Area (AfCTA) connecting with Africa, particularly with our very capable young people will pay dividends for decades to come. Africa will be a central driver of global trade before too long so long as we don’t take our future for granted. We have to keep on the path of partnerships such as these one between Africa and Korea. In doing so we may also enhance our cooperation on other matters of mature concern in the global arena.”
During the summit attended by 48 African leaders, South Korean President Yoon Suk Yeol pledged to expand development aid to Africa and pursue deeper cooperation with the region on critical minerals and technology.
Yoon said South Korea plans to expand its cumulative development aid contributions to Africa to around $10 billion by 2030 and separately provide $14 billion in export financing to encourage South Korean investment in the region.
The graduation ceremony, held at Intare Conference Arena in Gasabo District on Friday, was attended by various dignitaries, including government officials, university representatives, university administrators and parents.
Among the graduates, 388 completed their Master’s degrees, while others graduated with Bachelor’s degrees and PGDE
The graduates included 103 in Education, 595 in Business and Economics, 257 in Computer Science and Technology, and 85 in Law.
Prof. Nshuti Manasseh, one of the university’s founders, stated that the university was established with the goal of offering high-quality education by instructing required courses, particularly because it had become apparent that there was a void in this industry.
He added that the quality has increased, as those who started it had received extensive and complete education themselves, which has continued to guide its excellence.
“At that time, there was confusion in the universities due to various reasons. That’s when we decided to bring in education suitable for Rwandans, providing necessary courses for the job market, but also giving students practical lessons.”
Prof. Nshuti reminded the students that Rwandans expect results from their studies, to improve themselves, represent their university well, and contribute to the country’s development.
“For both graduates and current students, learning is a journey. Learning never ends; as you progress, knowledge evolves. Because an educated person strives to increase their knowledge, reaching a level where the country relies on your ideas as an intellectual, strive for that honour.”
Fanny Umunyana, who excelled in Business, Economics, and Finance, expressed confidence in the comprehensive knowledge she received, stating that she would use it to tackle challenges in her field.
She said, “I got the knowledge I wanted, and God helped me to be among the top. It requires nothing but setting goals, avoiding distractions, listening to teachers, and seeking knowledge beyond the classroom. There is no other secret. By collaborating with others, the knowledge I have is a resource that will help me achieve my goals.”
The Vice-Chancellor of the University of Kigali, Prof. Danson Musyoki, noted that despite various challenges during these times, the values of unity, inclusivity, determination, perseverance, and striving to achieve goals instilled in these students will help them continue to progress in whatever they undertake.
“I urge you, even after graduating, to maintain the values of resilience, determination, and inclusivity, collaborating with others in different sectors. Let all these be guided by the pursuit of success in the areas you engage in. Continue striving to ensure that your future is marked by the values you acquired at the University of Kigali.”
The Vice-Chancellor assured parents that their children received education of international standards, thanking them for their cooperation throughout this period. He also thanked the university staff for their dedicated efforts, ensuring students received up-to-date knowledge.
Among the 1,428 graduates from the University of Kigali, there were 769 female and 659 male students. Prof. Musyoki highlighted that these numbers reflect how the university provides equal opportunities for everyone to access quality education.
Prime Minister Édouard Ngirente announced President Paul Kagame’s decision to drop Munyeshuli from the Cabinet on Monday evening, citing Article 116 of the Rwandan Constitution regarding the appointment of Cabinet members.
“Pursuant to the Constitution of the Republic of Rwanda, especially in its Article 116, today, 3 June 2024, Ms. Jeanine Munyeshuli has been dismissed from her position as Minister of State for Public Investment and Resource Mobilization in the Ministry of Finance and Economic Planning (MINECOFIN),” Ngirente announced.
However, the Prime Minister did not disclose the reason for Munyeshuli’s sacking.
Communiqué from the Office of the Prime Minister | Itangazo riturutse mu Biro bya Minisitiri w'Intebe pic.twitter.com/T9HCZp4rmi
— Office of the PM | Rwanda (@PrimatureRwanda) June 3, 2024
Munyeshuli joined the Cabinet in August last year. She was the first person to occupy the new ministerial portfolio following the dissolution of the Ministry of Public Investments and Privatisation and the transfer of its functions to the Finance docket.
Previously, the economist and yoga teacher served as a board member of the AZAHAR Foundation.
Cabinet members in Rwanda are appointed by the President in consultation with the Prime Minister.
The three-day expo, which ran from May 29 to 31, attracted a large pool of investors, exhibitors, and visitors from more than 130 countries across the globe. As the curtains came down on the event, one could not help but notice that it was a resounding success, not only due to the prominent figures and influential leaders but also thanks to the tireless commitment of a small, dedicated staff.
This group, consisting of logisticians, technicians, security agents, and maintenance personnel, worked tirelessly to ensure that every aspect of the event ran smoothly.
IGIHE’s Christelle Butoyi spoke with some of them. They shared their day-to-day experiences.
A major event like this requires a lot of effort. For Elharti Abdel Hamid, an official catering provider, normally the day starts very early for setup.
“We get up at 5 a.m. to start work at 7 a.m.,” he said.
There are many challenges, particularly satisfying people with different temperaments, according to Abdel Hamid.
Badr, a cleaner, also opened up about his routine. According to him, his team starts work from 8 a.m to 8 p.m. They begin their routine by cleaning the premises before people enter. It is certainly a tiresome job, but he doesn’t feel it because his colleagues are like family to him.
Hiba Moustanjidi, an agent at Armonia Facilities, is usually in charge of the Media Lounge and is tasked with checking badges for access to the venue. She told IGIHE that before starting work, the team begins the day with a briefing to ensure there are no complaints.
“Gitex is always number one in Morocco, so we try to manage and meet the challenges as best we can,” she emphasised.
Another staff member, Rokaya Abdelmoujoud, plays an important role in handling VIPs, especially welcoming them and escorting them to their seats.
“On my first day, I escorted the Prime Minister of Guinea. I accompanied her for an AI visit, then to her seat,” said Rokaya, noting that “it’s a crucial task.”
IGIHE learnt that most of Rokaya’s colleagues are students who are happy to have side gigs after school. However, the biggest challenge of her job is dealing with people who use disrespectful language.
In achieving its goal of promoting innovation and fostering tech collaborations on the continent, Gitex Africa 2024 could not have succeeded without the invaluable involvement of these behind-the-scenes workers.
Their dedication and professionalism enabled a seamless event, demonstrating that behind every great success, there is a devoted team ready to go to any length to achieve excellence.
This edition of Gitex Africa not only highlighted African technological advancements but also underscored the importance of each individual contributing to the realisation of these grand ambitions.
ANC Secretary General Fikile Mbalula announced on Sunday that the party will be holding talks with other rival political outfits in the coming days after losing its parliamentary majority in the May 29 election. With more than 99 per cent of the votes counted, the party garnered 40 per cent of the vote, ending its 30-year dominance since the end of apartheid in 1994.
“The ANC is committed to the formation of a government that reflects the will of the people, that is stable and that is able to govern effectively. The ANC is committed to pursue a path of fundamental social and economic change for which it has received a firm mandate.
“Over the next few days, the ANC will be having discussions within the organisation and with other parties and stakeholders on how best to establish national and provincial governments that reflect the will of the people, and that are able to take the country forward,” Mbalula stated.
In South Africa, unlike many countries in the African continent, the president is elected by Parliament after national elections.
Among the parties ANC is expected to engage are John Steenhuisen’s Democratic Alliance, which received 21 per cent of the vote, and the new uMkhonto weSizwe Party (MK) of former President Jacob Zuma, who has turned against the ANC he once led. The MKP ranked third with just over 14 per cent of the vote in the first election it has contested. Julius Malema’s Economic Freedom Fighters (EFF) finished fourth with just over 9 per cent.
Mbalula said the ANC would not consider any demands from potential coalition partners that Ramaphosa step down as a condition for negotiations.
“If you come to us with the demand that Ramaphosa must step down as the President, that is not going to happen,” the SG said, adding, “We don’t have such a mandate. We are not going to engage with political parties on the basis that we don’t want to talk to so-and-so. That is a no-go area for anyone. If you come to us with such a demand, forget it.”
Mbalula further noted that the ANC has many reservations about MKP, saying, “But we will talk to them.”
“If you come to us with the demand that Ramaphosa must step down as the President, that is not going to happen.” – ANC SG, Cde Fikile Mbalula on non-negotiables during coalition talks#ANCThanksSApic.twitter.com/NHiGbcVgSD
During the presser, the ANC accepted its shortcomings, telling South Africans the results sent a strong message to the once-dominant party.
“We wish to assure the people of South Africa that we have ward them. We have heard their concerns, their frustrations and their dissatisfaction,” the party said amid concerns over joblessness, inequality and power shortages in the country.
The 2024 election results mark a significant drop from the 57.5 per cent the legacy party of Nelson Mandela garnered in the 2019 parliamentary election.
The inaugural summit scheduled for 4-5 June will draw delegations from African countries and related international organizations, key figures from Korean and international business communities, academia, civil society groups, and the press, among others.
The summit, themed ‘The future we make together: Shared growth, sustainability, and solidarity,’ will be hosted by the Korean government. It will be co-chaired by South Korean President Yoon Suk Yeol and his Mauritanian counterpart, Mohamed El Ghazouani, who is also the African Union Chairman.
According to the organizers, the summit marks Korea and Africa’s strong commitment to enhancing their cooperation.
The summit aims to explore cooperative strategies to foster collective resilience and unity for sustainable development. It will prioritize addressing global issues such as climate change, food security, supply chain stability, and health security.
The Summit will feature a session for the heads of state and international organizations and a series of conference sessions across a wide range of topics, including business, agriculture, ICT, forestry and desertification, vaccine and health security, tourism and energy.
When she presented her letters of credence to President Paul Kagame on March 26, the High Commissioner committed to strengthening bilateral relations between the two countries as well as helping Kenya retain its position as one of Rwanda’s top three trade partners.
Notably, Kenya exports foodstuffs, beverages, pharmaceutical products, cement, iron, and skin products to Rwanda, while Rwanda exports coffee, tea, horticultural foods, and raw hides and skins to Kenya. Kenya is also the main route for Rwanda’s exports and imports through the Port of Mombasa.
In an exclusive interview with IGIHE, the Rwandan ambassador discusses, among others, her efforts to strengthen ties between Kenya and Rwanda, ongoing economic and social cooperation, and the crisis in the eastern Democratic Republic of Congo, which poses a significant security threat to the Great Lakes region.
You have been in Rwanda for a few months now. How has your experience been so far?
Before my posting here, I had not been to Rwanda, but I had heard a lot about Rwanda. Rwanda is one of the countries that Kenyans speak a lot about. I was really looking forward to coming to Rwanda, and when I got this posting, I was quite excited.
Having landed in Rwanda, the first thing that struck me was the reception that Rwanda gave me as a Kenyan ambassador. It was very warm, and that spoke to the relationship that Rwanda has had with Kenya ever since they began bilateral relations. I had a very warm welcome here. Very cordial relations between Kenya and Rwanda are evident because, although I have been here for a short period, we have hosted quite a number of high-level dignitaries.
We have had Cabinet Secretaries (CSs) here in a span of two to three months. We had the CS for Sports, who came to attend the late Gervais Hakizimana’s burial. We had our CS for Transport, and then we had our Deputy President attending Kwibuka, representing our President. Then, just last week, we had our Head of State attending the CEO forum. That just shows how cordial we are with Rwanda. That is one of the areas that really impresses me as a new High Commissioner here.
Another thing I must say about Rwanda is it has beautiful and receptive people. We share a lot in terms of traditions, culture, and customs. When they speak Kinyarwanda, I understand it, being Bantu. We have a shared history and customs that make it very easy for a Kenyan to assimilate in Rwanda.
I will not finish this without talking about how organized Kigali is. I have not yet been able to move to other parts of Rwanda. I intend to do that within a short period of time, but I can speak about Kigali. The infrastructure is just amazing, with a very organized way of doing things. It has been a great experience.
Did you ever envision being an ambassador?
Not at all, actually. It was a surprise, but it’s something that I received with a lot of gratitude. I’ve worked with UNON and UNEP before, so I am not completely new to bilateral and international relations. That background gives me a good backdrop to deliver on this posting. It was a very exciting appointment, and what better country than Rwanda?
Kenya and Rwanda enjoy strong bilateral relations. What will be your key priorities in strengthening this partnership?
My main priority is to strengthen the already existing very good relations. My second priority would be trade and investment. We have many Kenyan companies doing business here, and there is a lot of trade between Rwanda and Kenya that I would love to see strengthened. Of great importance is the Northern Corridor, with Rwanda being a strategic country for Kenya that I want to see strengthened.
We have had a couple of engagements. Just last week, Kenya Pipeline and Kenya Ports Authority paid us a courtesy visit, and we had quite a number of engagements with the Rwandan authorities in the Ministry of Trade to see how we can enhance our use of the Northern Corridor. We also had MoUs signed when the President came here last year in April for a state visit, invited by His Excellency Paul Kagame. A few have been implemented, while others are still awaiting a mid-term review sometime in June. It’s very important for me to see that the MoUs are implemented and to take care of our large diaspora presence. We have about 8,000 Kenyans living in Rwanda, and I want to ensure that their concerns are addressed.
During President Ruto’s visit to Rwanda in April last year, Kenya and Rwanda signed 10 MoUs aimed at enhancing cooperation in several areas, including education, ICT, health, gender and child development, youth and capacity development for the public service, as well as correctional services. What is the progress in the implementation of the agreements?
We have two of them actualized. We have a couple going for midterm review, and we are in touch with the Ministry of Foreign Affairs here. We are looking at June to fast track implementation, with a few still waiting for signatures. We are actively working to push the MoUs to fruition.
Early May, Transport Minister Kipchumba Murkomen met with his counterparts from Uganda, DRC, South Sudan, and Rwanda to discuss plans to extend the railway network to these four countries. Previous plans to extend the railway network to Uganda faced financial challenges. For someone hearing this for the first time, how is the new plan different?
What they agreed upon is that Kenya is going to work together with Uganda to build a railway from Naivasha, where it has currently reached, to Kisumu and Malaba. I am aware that Uganda, Rwanda, and Kenya are collaborating to finance the railway network.
If actualized, Rwanda will pay less for products. Using the SGR has been a challenging area for them because their products come to Naivasha, where they have to store them and then use the road. So, they end up paying twice: once for the road and once for the SGR. This will be a win for both Kenya and Rwanda once actualized.
Instability in the eastern DRC poses a significant security threat to the Great Lakes region. President Ruto said recently that dialogue is the only solution to the problem in Congo. Beyond the TV remarks, what are some of the steps Kenya has taken to ensure there is peace in the region?
We already have the Nairobi-led peace process for the DRC and the Luanda process. We are depending heavily on those two processes to deliver a solution. He [President William Ruto] is very committed to both processes.
The entry program is designed to empower African start-ups for cross-border growth.
“This program offers a unique opportunity for startups to navigate diverse ecosystems, form strategic partnerships, and scale their businesses across the continent,” the organisation announced.
To be eligible for selection, interested start-ups must be registered in an African country, with at least one of the founders being an African. The start-ups should also be at the scale-up stage.
Successful applicants will enjoy several benefits. They will be among 10 startups to pitch in front of key ecosystem players and potential investors. Additionally, they will receive travel arrangements, participate in ecosystem tours, and engage in one-on-one meetings with potential customers, collaborators, and investors.
The startups will benefit from six months of post-trip support to strengthen the connections made during ecosystem tours, including advisory services on the target market. They will also experience tailored ecosystem tours in one of the focus countries: Nigeria, Kenya, Rwanda, or Namibia.
Moreover, they will have access to Market Opportunity Packs (MOP), which provide insights into the countries they will visit and have the opportunity to showcase their products to a curated audience of collaborators, investors, and potential customers.
Interested applicants have until June 30, 2024, to apply. The selection exercise is slated for July 2024.
Pitch sessions will begin in August, ecosystem tours in October, and post-ecosystem tour support will take place between November and April 2025.
