Category: Business

In a statement released on Wednesday, August 7, 2024, RURA Director General Evariste Rugigana said petrol will retail at Rwf1,629 per litre, down from Rwf1,663, while diesel will remain at Rwf1,652 per litre.

The new fuel prices will come into effect from 7:00 PM on August 7, 2024, for two months.

“These adjustments are based on recent fluctuations in international petroleum product prices,” Rugigana explained.

This marks the second time in a row the price of petrol has decreased since April when RURA reviewed the prices of fuel upwards.

Before the review of the prices in April, a litre of petrol cost Rwf 1,637 while diesel cost Rwf 1,632.

Among those celebrated was Peter Asiimwe from Uganda. He won a big award for his work in helping his community and showing great leadership.

Also in the spotlight was Rwanda’s own Isimbi Alliance, also known as Alliah Cool. She’s a well-known actress and social media influencer who received an award for her efforts in promoting change and entertaining people.

The event wasn’t just about handing out awards. There was a big dinner with lots of food and drinks that reflected the diverse tastes of Africa. Everyone enjoyed themselves, chatting and laughing through the evening.

The entertainment was just as diverse. There were cultural dances and music that got everyone’s attention, showcasing the rich traditions of different African cultures.

What’s even more exciting is that this event will happen in Kigali for the next three years. It’s a big win for the city to continue hosting such important gatherings.

As everyone headed home, there was a strong feeling of unity and hope. The night was not just about recognizing what has been achieved but also looking forward to what can be done in the future.

This event promises to keep highlighting and supporting the leaders who are making a difference across Africa.

The Norwegian firm sold its 54% stake in the project to Fortis Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd.

According to the company, the transaction marks Scatec’s exit from the Rwandan market and is part of its broader strategy to optimize its investment portfolio.

“We continue to deliver on our strategy to consolidate our portfolio through divestment of assets in non-core markets, and recycling capital into new investments in renewable energy. We are very satisfied with the closing and would like to thank the teams in Scatec, Fortis, Axian, and other parties involved for a successful transaction.

“We are confident that the new owners will take good care of the solar power plant and continue to deliver clean renewable energy to the Republic of Rwanda for many years to come,” Scatec CEO Terje Pilskog stated.

The buyout supports Fortis Green’s Green Fund I and marks AXIAN Energy’s entry into the Rwandan market.

Fortis Green’s Managing Director, Benito Grimaudo, noted that the acquisition will contribute to development of green energy in Africa. AXIAN Energy’s CEO, Benjamin Memmi, said the acquisition is part of the company’s strategy to diversify its renewable energy assets and contribute to sustainable energy solutions.

The three companies signed the buyout agreement in December 2023, and the deal was scheduled to close before the end of 2024.

The solar power plant, located at the Agahozo-Shalom Youth Village in Rwamagana, began operations in 2014.

The project includes over 28,000 solar panels on a 50-acre site and has significantly improved access to clean energy in Rwanda, serving approximately 140,000 residents.

The generated power was sold under a 25-year Power Purchase Agreement with the state-owned utility, Electricity, Water and Sanitation Authority (EWSA).

The drive, held on Saturday, July 27, brought together more than 150 riders using electric motorbikes, underscoring the company’s commitment to innovation and reducing carbon emissions across the continent.

The drive commenced at Spiro’s warehouse in Masoro, located in the Special Economic Zone, where the company has so far deployed 1,000 bikes on the road.

The route weaved through the scenic streets of Kigali, showcasing Spiro’s cutting-edge electric bikes and raising awareness about the benefits of electric mobility and its role in combating climate change.

The flag-off was conducted by two of Spiro’s youngest staff members, Atete Benigne and Akimanimpaye Odile, symbolizing the future generation’s involvement in sustainable initiatives.

Kaushik Burman, CEO of Spiro, described the drive as a testament to the growing community of sustainable transportation advocates.

“We are proud to bring together 150 riders who share our vision for a cleaner, greener future,” the CEO stated.

Arun Bhandari, Head of Spiro Rwanda, said, “This drive is not only a celebration of our achievements but also a strong statement of our commitment to sustainable mobility in Africa. We are excited to see the positive impact our electric bikes are making in Rwanda and beyond.”

Spiro affirms that its bikes, equipped with mid-drive motors, are built to deliver better performance on Rwanda’s hilly terrain, which poses unique challenges for transportation.

“By placing the motor in the middle of the bike, the weight is evenly distributed, enhancing stability and making it easier to climb steep inclines. This design allows riders to tackle hilly terrains with greater ease and efficiency,” Spiro explains.

Spiro is keen to expand its operations into new regions, bringing the benefits of electric mobility to more communities across Rwanda.

Recently the company launched operations in Muhanga, located in the southern province. The operations of the office, the smart station, and the deployment of bikes were inaugurated by the CEO and the Spiro Rwanda team.

The launch was attended by cooperative members, including the president of the moto-taxi riders in Muhanga. The company has deployed 25 bikes in this area, with plans to increase the number of bikes on the road soon due to promising leads.

The company plans to expand into Huye, Bishenyi, Kayonza, Rwamagana, Bugesera, Nyamata, and Mayange before the end of the year.

So far, Spiro has distributed more than 18,000 electric motorbikes and 40,000 swappable batteries, which are in operation across Benin, Togo, Rwanda, and Kenya.