In a statement released on Friday, January 17, 2025, the management attributed the move to sustained market challenges, including economic pressures, currency depreciation and rising operational costs.
“Over the past 40 years, CMC Motors Group has played a vital role in supporting East Africa’s agricultural sector through the delivery of quality service, mechanization solutions, and steadfast support to its customers. However, despite restructuring efforts and a transformation program initiated in 2023, the market conditions have not provided a sustainable path forward,” the statement reads in part.
According to the company, the gradual winding down of operations in the three countries will be done in “full compliance with local regulations and distributorship agreements.”
“The company is committed to supporting its employees during this transition and will ensure a smooth and orderly wind-down in adherence to all relevant agreements and regulations,” the management added.
CMC Motors Group Ltd, owned by CMC Holdings Ltd, was acquired in 2014 by the Al-Futtaim Group, a multinational conglomerate based in the United Arab Emirates (UAE). Other trading subsidiaries owned by CMC Holdings Ltd include Cooper Motor Corporation (Uganda) Ltd, Hughes Motors (Tanzania) Ltd, and Kenya Vehicle Manufacturers Ltd (33% Shareholding).
The company deals in a comprehensive range of automotive and related products and services, making it a key player in the East African market. This includes the sales and distribution of a variety of vehicles, from passenger cars to commercial vehicles such as UD Trucks, Eicher Trucks, and MAN Trucks.
They also cater to the construction and agricultural sectors, distributing Bobcat and Case construction equipment, and New Holland tractors with various farming implements. Beyond sales, CMC Motors Group provides extensive after-sales services through its network of showrooms and service centers, offering maintenance, repairs, and spare parts.
Additionally, they have a specialized engineering division, CMC Engineering, which designs and builds custom truck bodies, trailers, and other fabrications, along with an accident repair workshop equipped for dent repair and re-spraying.
In April 2023, CMC Motors Group declared 169 of its workers in Kenya redundant after three vehicle brands namely Mazda, Ford and Suzuki terminated their distribution deals with the company.
According to the Ministry of Agriculture and Animal Resources (MINAGRI) Annual Report, the revenue growth occurred despite a 2% decrease in production volume, dropping from more than 39,000 tonnes to 38,460 tonnes. The success is attributed to improved tea quality and favourable global market prices.
“Certain tea clones exhibit site-specific adaptation, allowing us to produce exceptional quality,” the report reads.
Clones such as TRFK301/4, TRFK475, and TRFK303/577 were identified as top performers, contributing to productivity gains.
The average price per kilogram of tea was $2.98, up from $2.76 the previous year.
Data from the National Agricultural Export Development Board (NAEB) indicates that Rwanda’s tea was exported to 47 countries during 2023/2024.
The leading market for Rwandan tea was Pakistan, which imported over 9,194 tonnes, accounting for nearly 24% of the total export volume. This generated approximately $27.5 million.
The United Kingdom followed closely, purchasing 5,669 tonnes, or 14.7% of the total volume, for just over $17 million. Other major buyers included Egypt, which imported 4,259 tonnes (11% of the total) valued at $12.7 million; Kazakhstan, which took 3,996 tonnes (10.3%) for $11.9 million; and Ireland, which purchased 3,352 tonnes (8.7%) for $10 million.
Other markets included the United Arab Emirates, which bought 1,366 tonnes (3.5%) worth around $4 million, Russia with 1,270 tonnes (3.3%) for $3.8 million, and Sudan with 1,154 tonnes (3%) valued at $3.4 million. Turkey and India were also notable buyers, importing 1,049 tonnes (2.7%) and 823 tonnes (2.1%), respectively, generating $3 million and $2.4 million in revenue.
In contrast, Rwanda’s coffee export revenue experienced a significant decline of 32.1%, dropping to $78.71 million in 2023/2024. Export volumes also fell by 17.9%, reflecting challenges such as climate variability, global price fluctuations, and production inefficiencies.
The report highlights efforts to address these challenges, including the development of 44 new coffee hybrids and 28 fixed varieties aimed at improving yields and resilience.
“The most promising hybrids are now positioned to meet both farmer and market requirements, offering a path to increased incomes and competitiveness,” the report states.
To address soil nutrient variability and improve coffee productivity, MINAGRI implemented site-specific fertilizer recommendations across key coffee-growing regions. Additionally, 3,500 kilograms of genetically pure coffee seeds were distributed, with an expected yield of about 14.7 million seedlings.
These initiatives align with the government’s NST1 target of increasing coffee yields from 2.8 kilograms per tree to at least 4 kilograms per tree.
The contrasting performances of tea and coffee exports highlight the need for tailored strategies in Rwanda’s agricultural sector.
“Educating farmers on the right dosage, source, placement, and timing of fertilizer application will maximize crop responses and ensure a positive return on investment,” the report emphasizes.
Dr. Mark Cyubahiro Bagabe, Minister of Agriculture and Animal Resources, acknowledged the challenges but expressed confidence in the sector’s future.
“With continued collaboration and support, we will overcome challenges and achieve our shared vision for agricultural transformation,” he wrote in the report’s foreword.
In a press statement on Monday, January 13, 2025, Jasiri said the program targets visionary individuals from Kenya, Rwanda, and Ethiopia who are passionate about creating impactful businesses from scratch.
The program is aimed at tackling youth unemployment in Africa by fostering high-impact entrepreneurship, which Jasiri views as a key driver of job creation and societal transformation. It focuses on minimizing systemic barriers to entrepreneurship through a hands-on, holistic approach.
To qualify for the program, applicants must demonstrate a strong drive to address Africa’s most pressing challenges and a readiness to build ventures that deliver measurable societal impact.
“Jasiri minimizes these barriers with a holistic, hands-on approach to entrepreneurship, ensuring that bold innovators can build businesses that benefit society while contributing to an empowered, prosperous African citizenry,” Amandine Kayizali, Recruitment & Selection Manager, said in the statement.
The Jasiri Talent Investor Program offers participants structured support, including a one-month online Jasiri Jumpstart, a three-month intensive residential program, and nine months of hands-on venture creation. The program also emphasizes collaboration, bringing together like-minded individuals to form entrepreneurial teams capable of transforming ideas into impactful ventures.
Since its inception in 2021, Jasiri has supported 227 entrepreneurs who have collectively created 93 ventures, 81 of which remain operational across 42 industries. These ventures have generated over 2,035 jobs and positively impacted more than 12,600 individuals across sectors such as healthcare, education, agriculture, and waste management.
The application period for the eighth cohort is scheduled to close on April 5, 2025.
Interested individuals can apply through the link: [https://jasiri.org/application->https://jasiri.org/application].
The Ethiopian Securities Exchange (ESX) is seen as a significant step toward establishing “a vibrant capital market ecosystem” in the East African nation, aligning with the Ethiopian government’s recent efforts to liberalize the country’s economy and financial sector.
“In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange,” Abiy said after ringing the bell to mark the opening of the stock exchange.
The launch of the ESX would enhance the country’s financial system and contribute to the development of an inclusive economy, he said, adding that the government has invested significant time and conducted extensive research to ensure the exchange’s effectiveness.
The ESX, which operates across various market segments and offers a range of financial products and services tailored to businesses, government entities and institutions, will serve as a platform for both Ethiopian and foreign investors to easily trade in listed equity and debt instruments.
The Ethiopian government said that the ESX aims to provide “a modern, reliable and efficient environment for securities trading through adaptation of modern exchange business operations, skill, technology and trust.”
It also noted that the establishment of Ethiopia’s stock exchange would significantly boost the country’s economic development while building “a sustainable institution that meets the needs of both Ethiopian and regional issuers and investors.”
Meanwhile, Abiy invited investors to explore opportunities in Ethiopia, saying it is “a fast-growing economy with immense potential and a dynamic trajectory toward prosperity.”
The launch of the ESX marks the first stock exchange in Ethiopia since the fall of Emperor Haile Selassie in 1974.
As part of its recent economic liberalization measures, the Ethiopian government last year opened the retail sector to foreign investors, a move that reversed its previous policy of reserving the sector exclusively for local entrepreneurs.
According to the World Bank, Ethiopia, with a population of about 126.5 million, is the second most populous nation in Africa after Nigeria and one of the fastest-growing economies in the region.
Addressing the press on Thursday, January 9, 2025, President Kagame revealed that over the last two years, there has been a process to examine and list all government entities that could be privatized and removed from the government’s balance sheet.
He was responding to a journalist’s question about how privatizing public enterprises could boost participation in the country’s stock market and promote investment growth.
This follows the Rwanda Stock Exchange’s (RSE) impressive performance in 2024, when it recorded a turnover surpassing the Rwf100 billion mark for the first time, reaching Rwf129 billion—a 126% increase from the previous year.
“There has been a process of examining and listing all government entities that could be privatized and removed from the government’s balance sheet. This will align well with what we need to see happening on our exchange. This process is ongoing, with a dedicated team following up and working on it,” the President stated, further emphasizing the role of Agaciro Fund in promoting investments and self-reliance.
The ongoing process is in line with a new privatization law that took effect in June of last year. Rwanda’s Law No. 045/2024 governs the sale, lease, or liquidation of state-owned companies and shares by reputable and competent national and international investors.
The law’s goals include reducing the government’s burden by alleviating the financial and administrative responsibilities of managing state property. It also aims to increase efficiency by improving the performance of privatized companies, thereby generating more revenue.
Additionally, the law seeks to create competition by fostering competitive markets for services. Ultimately, it strives to promote economic development by accelerating job creation, encouraging export promotion, and facilitating import substitution.
President Kagame also highlighted the significant progress made in the Qatar-Rwanda partnership, particularly in aviation and infrastructure development.
“The Qatar-Rwanda partnership over the airline and the airport has made very good progress. It has been going well, and many aspects are being concluded,” he stated.
RwandAir and Qatar Airways have a codeshare agreement and are working on a deal to give Qatar Airways a 49% stake in RwandAir. The agreement will strengthen the airlines’ global reach and allow RwandAir to expand its fleet and routes.
In a separate agreement reached in 2019, Qatar Airways agreed to take a 60 percent stake in Bugesera International Airport in Kigali, being built at a cost of $1.3 billion.
RwandAir Chief Executive Officer (CEO) Yvonne Makolo says the new airport, expected to be operational in 2027 and have an initial capacity for eight million passengers, will turn Kigali into “a major transit hub” on the continent.
This collaboration will empower Rwandans to access a range of postal services, including the ability to obtain a virtual Post Office address through the user-friendly digital interface, offering greater convenience, accessibility, and efficiency.
By integrating ePoBox into the IremboGov platform, users can now easily create and manage their virtual Post Office addresses from their mobile devices. This digital solution reduces the need for physical visits to Post Offices, allowing individuals, businesses, and innovators to receive official communications, track postal deliveries, and engage with postal services seamlessly digitally.
“We are thrilled to partner with IPOSITA to bring ePoBox to the IremboGov platform. This collaboration not only represents a significant leap forward in our mission to provide digital solutions that simplify access to government services but is a major step in Rwanda’s continued efforts to foster digital inclusion and economic growth,” said Israel Bimpe, CEO at Irembo.
“The integration of ePoBox into the IremboGov platform will revolutionize how Rwandans access and interact with postal services. By enabling people to manage their postal needs digitally, we are making it easier for individuals and businesses to stay connected and manage official communications. This partnership supports Rwanda’s drive to enhance digital postal services and transform the public sector,” said Celestin Kayitare, Director General at the National Post Office (IPOSITA).
The partnership between Irembo and IPOSITA aligns with Rwanda’s vision of a fully integrated digital economy, providing citizens and businesses with access to essential services that are both easy to use and accessible at their fingertips.
{{About Irembo
}}
Irembo is a technology company founded in Kigali in 2014 to make Rwanda a digital society. In July 2015, the company launched its first product in partnership with the Government of Rwanda, IremboGov. As a Digital Services Partner of the Rwandan Government, Irembo delivers services and innovative digital solutions that enable public agencies to process citizen applications more efficiently and help them access public services more conveniently.
{{About IPOSITA
}}
The National Post Office, also referred to as IPOSITA, is a Public Institution operating in Rwanda’s service industry since 1922.
The institution mainly exists to provide national and international postal services to meet institutional, social and individual needs.
IPOSITA also provides financial and counter services acting as a crucial bridge between the online and offline economy.
{{About ePoBox
}}
ePoBox is Rwanda’s Virtual PO Box Service, which allows anyone with a phone number to obtain a postal address.
Service Availability on the upgraded IremboGov Platform
The upgraded IremboGov platform now offers three ePoBox services:
1. [Register an ePoBox Address->https://new.irembo.gov.rw/service/details?keyword=Register%20an%20e-P.O%20Box%20Address&id=a2677962-6d33-4985-bb4a-fba9c52d10cd]
2. [Renewal of an ePoBox Address->https://new.irembo.gov.rw/service/details?keyword=Renew%20an%20e-P.O%20Box%20Address&id=b128155c-7113-40b4-a8ab-8924dc2140df]
3. [Change ePoBox Postal Office->https://new.irembo.gov.rw/service/details?keyword=Change%20e-P.O%20Box%20Postal%20Office&id=061e1e59-47f0-4e2a-9c5a-c9940c30d8d7]
IPOSITA represents a significant technological advancement, providing a revolutionary approach to mail delivery. This integration demonstrates Rwanda’s commitment to digital governance.
{{Key Features and Benefits
}}
● {{Mobile as Your Address}}: Convert your phone number into a personalized ePoBox.
● {{Affordable Pricing}}: Individuals are required to pay 8,000 RWF annually, while businesses and institutions must pay 15,000 RWF per year.
● {{Quick Activation}}: Set up your ePoBox within one business day.
● {{Nationwide Access}}: Reliable postal delivery for both individuals and businesses across Rwanda via the IremboGov platform.
Users will benefit from streamlined logistics and postal operations through a reliable, scalable solution that improves customer service.
{{User-Friendly Registration
}}
● {{For Individuals}}: A simple, fast registration using your ID number, name, and birthdate.
● {{For businesses}}: Instant registration is done using your tax identification number (TIN).
{{Why ePoBox?
}}
ePoBox brings convenience and control to your mail management with these features:
● {{Instant SMS Alerts}}
Stay informed with real-time notifications sent directly to your phone. You’ll be alerted whenever mail or a package is waiting at the Post Office, ensuring you never miss an important delivery.
● {{Flexible Mail Management}}
Take charge of your mail with options that fit your lifestyle. Whether you prefer doorstep delivery or collection from a convenient location, ePoBox puts you in control.
{{What can I use ePoBox for?
}}
Once you have your ePoBox, the possibilities are endless. One can use it to:
● {{Access all postal services}}, which include sending and receiving mail and parcels.
● {{Access government documents seamlessly}}, including obtaining very soon driver’s licenses, logbooks, passports, and title deeds.
● {{Access E-commerce solutions }} and shop with ease on local platforms like RwandaMart and international giants like Amazon and Alibaba.
● {{Access financial services}} such as bank accounts and conduct financial transactions hassle-free.
Join the Digital Revolution: Register for ePoBox today.
Experience the future of postal services today. Sign up for ePoBox through the IremboGov platform at [https://new.irembo.gov.rw/->https://new.irembo.gov.rw/], or dial USSD *801*631#.
According to the latest report from the National Institute of Statistics of Rwanda (NISR), titled Statistical Yearbook 2024, the number of registered vehicles in the country increased from 268,537 in 2021 to 330,166 in 2023.
The increase in vehicle imports aligns with the rising demand for permanent driving licenses. Over the past three years, 143,864 residents obtained permanent driving licenses.
The growth reflects a surge in economic activity and an increasing appetite for personal and commercial transportation options.
Motorcycles continue to dominate the registered vehicle market, with registrations increasing from 141,532 in 2021 to 177,187 in 2023. Cars and jeeps followed suit, growing from 43,182 to 51,262 over the same period.
Other categories of vehicles also experienced growth, with buses increasing from 6,213 to 7,142 and trucks from 24,564 to 28,612. Additionally, trailers saw a rise from 2,169 to 2,559, and special equipment vehicles used in construction and agriculture grew from 2,877 to 3,404.
The growth could be attributed to several factors, including improvements in infrastructure, favourable import policies, and a growing middle class.
Regionally, Rwanda’s trade partnerships with the COMESA and SADC blocs have also contributed to this trend. Imports from the COMESA region alone surged from $153.14 million in earlier years to $368.56 million.
However, the increase in motor vehicle imports also presents challenges, particularly concerning urban congestion and environmental impact. The government has been proactive in addressing these issues by promoting the use of electric and hybrid vehicles. Several policy measures are in place to encourage sustainable transport solutions, including tax incentives for environmentally friendly vehicles.
As Rwanda’s economy continues to grow, the demand for motor vehicles is expected to rise further. Policymakers are tasked with ensuring that this growth aligns with the country’s broader goals of sustainability and urban development.
According to the National Agricultural Export Development Board (NAEB), the initiative will see 240,000 avocado seedlings planted on 800 hectares and 60,000 mango seedlings planted on 200 hectares nationwide.
The expansion plan targets five districts for avocado cultivation, including Rusizi in the Western Province, Huye and Nyanza in the Southern Province, and Rwamagana and Bugesera in the Eastern Province.
The seedlings will be grafted, a specialized horticultural technique that merges parts of different plants to enhance traits like yield, quality, and resilience.
For mango cultivation, the government will focus on Rusizi and Bugesera, planting across 200 hectares.
In addition to avocados and mangoes, Rwanda plans to scale up macadamia production by planting 102,000 seedlings on 100 hectares in Nyamasheke, Karongi, Rusizi, Rutsiro, and Rwamagana districts.
The efforts are part of a broader strategy to expand Rwanda’s production of high-value horticultural crops, including mangoes, avocados, and macadamia, to strengthen the country’s position in global horticultural markets.
Data from NAEB released last year shows that between 2017 and 2022, Rwanda’s avocado export volumes increased from 105.4 metric tons in 2016/2017 to 2,765 metric tons in 2021/2022, while revenues soared from $37,155 to $4,533,801 during the same period.
The Hass and Fuerte avocado types are the three most popular varieties in Rwanda.
Jean Bosco Mulindi, Emerging Commodities Division Manager at NAEB, emphasized that the plan aims to increase agricultural exports while enhancing the livelihoods of smallholder farmers.
“By focusing on high-demand crops like mango, avocado, and patchouli, NAEB continues to drive the growth of Rwanda’s horticulture sector and contribute to the overall development of the country’s agro-export economy,” Mulindi said.
The initiative is funded by the International Fund for Agricultural Development (IFAD) and aims to boost productivity and incomes for farmers while creating valuable job opportunities.
A significant component of the program involves the community-based production of seedlings, with active participation from youth and women’s groups. This inclusive approach is expected to uplift the living standards of participants and their families.
Airtel Rwanda Managing Director, Emmanuel Hamez, announced the milestone during a press briefing at the company headquarters in Remera on Wednesday, December 18, 2024.
The company has already registered 1.5 million smartphones enjoying voice over 4G services, with 30% of Voice 3G traffic now switched to the new technology.
The VoLTE service, launched on November 19, offers customers HD-quality voice calls, faster call setups, and the ability to browse data while on a call, without additional charges.
Hamez noted that 4G technology has revolutionized the traditional voice call model by converting voice calls into data, making them more affordable.
“The concept of minutes or duration is no longer valid. Now, voice calls, like sending a photo, consume data, not minutes or seconds. For instance, a one-hour non-stop call equates to 15 megabytes of data. This is a significant shift in the charging model. We’re no longer selling minutes, but data,” the MD explained.
The company expects to reach two million subscribers early next year.
Currently, Airtel Rwanda is working with phone manufacturers like Samsung, Infinix, and Tecno to ensure broader compatibility with the new technology. Hamez expressed optimism about ongoing discussions and expects more smartphones to be supported in the coming months.
To enhance network accessibility, the company has invested $63 million in infrastructure, adding 200 new transmission stations to its network, bringing the total number of stations to over 1,000. This expansion now covers 95% of the Rwandan population.
Airtel Rwanda is the first telco to introduce VoLTE technology in Rwanda. The move aims to improve customer experience and increase market share, which currently stands at 38.1% with 5.5 million subscribers.
With the growing adoption of 4G voice calls, the company plans to phase out 3G technology by the end of 2025 and 2G by the end of 2026, aligning with the government’s National Broadband policy.
The cost of smartphones remains a key challenge during the transition, but Hamez noted that the company would continue to work with other partners to increase access to affordable smartphones in rural and underserved populations.
In October last year, Airtel Africa collaborated with the Rwandan government to introduce the country’s most affordable 4G smartphone as part of the ConnectRwanda initiative.
Priced at 20,000 Rwandan Francs, the budget smartphone comes with a monthly plan of 1,000 Rwandan Francs that includes 1GB of data and unlimited calls daily.
The initiative is aimed at empowering both large enterprises and small to medium-sized businesses (SMEs) with reliable, high-speed connectivity at no upfront cost.
Alexis Kabeja, Chief Executive Officer of Liquid Intelligent Technologies Rwanda, highlighted the importance of connectivity during the holiday period, a time when businesses are busier than ever.
“The holiday season is a time for staying connected with family, friends, or business networks. It’s also an incredibly busy time for enterprises across the African continent,” he said.
While Rwanda is making significant strides toward digital transformation, over 65% of the population remains offline, posing challenges for businesses during peak periods such as December’s retail rush. Liquid Rwanda’s festive season promotion seeks to address this gap by providing businesses with an opportunity to access cutting-edge internet solutions without the barrier of installation fees.
“This seamless process allows companies to redirect resources toward innovation, resource optimisation, and customer satisfaction during the busy holiday season,” Kabeja added.
The promotion comes as Liquid continues its efforts to expand connectivity across Rwanda. Recent fibre network expansions into regions such as Nyamata, Huye, Muhanga, and Rusizi demonstrate the company’s commitment to bridging the digital divide and ensuring inclusivity for underserved areas.
Beyond the promise of speed, Liquid’s internet services are backed by 24/7 customer support. Businesses will benefit from round-the-clock technical troubleshooting, network monitoring, and on-demand assistance, ensuring uninterrupted operations throughout the festive season and beyond.
Businesses interested in taking advantage of this offer can sign up or inquire further by calling +252100100 or emailing sales@liquidtelecom.rw.
