Category: Business

Located in Kigali, the new facility is designed to provide high-quality ingredients and tailored flavour solutions to local manufacturers, reinforcing Kerry’s commitment to localisation and sustainable production in emerging markets.

The company says the move is part of a broader €1 billion strategy to accelerate growth and sustainability across the global food industry, with a focus on fast-growing regions like Africa.

The launch event was attended by key stakeholders, including representatives from the Rwanda Food and Drugs Authority (FDA), local academic institutions, manufacturers from across the country, and Jill Clements, the Deputy Head of Mission to Uganda and Rwanda at the Embassy of Ireland.

“The establishment of this facility in Rwanda marks a significant step towards realising our vision to bring delicious and nutritious products, produced with world-class quality, to millions of African consumers,” said Jad Neaime, General Manager of Kerry Africa.

“As the only global taste and nutrition solutions company producing in East Africa, we aim to partner with our customers to help them solve their unique challenges and grow their business by leveraging our innovative technologies and global network.”

Kerry’s new plant is built with sustainability at its core, incorporating zero waste to landfill operations, high-efficiency utility systems, and a custom-designed wastewater treatment process. The company emphasised that these features align with its global environmental targets and commitment to responsible manufacturing.

The Kigali facility strengthens Kerry’s presence in East Africa, which began in 2018 with the opening of a technology and innovation centre in Kenya. Since then, the company has expanded its footprint to seven manufacturing sites across Africa, including operations in Kenya, Tanzania, Uganda, Cameroon, South Africa, Nigeria, and now Rwanda, along with sales offices in Lagos and Nairobi.

Neaime highlighted Rwanda’s dynamic food processing sector as a key driver behind the company’s decision.

“Producing in Rwanda strengthens our localisation plans and brings us closer to our customers and their needs,” he said.

“This includes building local partnerships, expanding local sourcing, and recruiting and upskilling local talent to drive community-level growth.”

The facility is expected to play a central role in delivering flavour and nutrition solutions tailored to local preferences, while enabling Kerry to scale up support for food and beverage manufacturers across the region.

In February 2025, the DRC banned Rwandan flights from using its airspace or landing on its territory, citing national security concerns.

The move followed escalating tensions between the two countries, triggered by ongoing conflict between the DRC army and the M23 rebel group, which has controlled the city of Goma since January 27, 2025.

Addressing journalists on Monday, Makolo expressed regret that political issues had interfered with aviation services.

“We had to suspend some routes like Brazzaville, Abuja and Cotonou because the flight had become a bit long,” she noted.

However, Makolo explained that RwandAir is now focusing on expanding its network in Eastern and Southern Africa.

“We are putting that capacity on eastern and southern African routes and adding frequencies where possible,” she said.

“We’re looking at opening new routes. I think more immediately, the first ones coming are Mombasa and Zanzibar. Until the issue is resolved, we’ll focus more on the eastern and southern sides of the continent,” added Makolo.

Since late 2016, RwandAir had expressed interest in launching direct flights to New York, USA. The route was initially expected to begin by 2019, but the COVID-19 pandemic led to delays and a shift in strategic priorities.

Makolo confirmed that the New York route is no longer an immediate priority for the airline.

However, she noted that RwandAir connects passengers to five U.S. cities via Doha, through its codeshare partnership with Qatar Airways.

Dr. Ngirente made the remarks during the official opening of the 13th Aviation Stakeholders Convention at the Kigali Convention Centre on Monday, May 12, 2025.

Addressing aviation leaders and policymakers from across the continent, Ngirente underscored the importance of collective efforts in shaping the future of African air travel. He said initiatives such as the Single African Air Transport Market (SAATM) and the African Continental Free Trade Area (AfCFTA) are vital frameworks that require improved air connectivity to deliver on their promise.

“Rwanda’s ambitions do not exist in isolation, and we all know that Africa’s growth is interconnected,” Ngirente stated. “An integrated African airspace will lower costs, improve competition, and unlock economic opportunities across the continent.”

The Prime Minister praised RwandAir’s role in connecting Africa to the world, describing it as one of the fastest-growing airlines on the continent, now reaching over 100 destinations through direct and codeshare routes. He noted the airline’s growing popularity among young people, with nearly 2,000 applicants for its cadet pilot programme this year alone.

Ngirente reaffirmed Rwanda’s commitment to investing in aviation infrastructure, including the expansion of Kigali International Airport and construction of the new Bugesera International Airport. These, he said, are more than transport projects—they are “economic multipliers” supporting trade, tourism, and employment.

The new Bugesera International Airport, being constructed in partnership with Qatar Airways, is expected to be completed by 2028 at a cost of $2 billion.

Calling on governments and industry players alike, the Prime Minister urged the creation of stable, transparent environments to foster innovation, cross-border cooperation, and sustainable growth within the aviation sector.

“We must turn today’s commitments into real progress for the millions of Africans who will benefit from a connected, competitive, and sustainable aviation sector,” he said.

The convention, organised by the African Airlines Association (AFRAA) in partnership with RwandAir, brings together stakeholders to explore strategies for innovation and sustainability under the theme “Sustainability. Collaborate. Innovate.”

The monthly publication, which tracks changes in the cost of goods and services across the country, revealed that urban CPI rose by 6.3% and rural inflation surged to 6.9%. The urban inflation serves as the headline index for monetary policy decisions.

Food and non-alcoholic beverages were the largest contributors to inflation, with urban prices in this category rising by 7.9% year-on-year and 2.7% month-on-month. This category carries a significant weight of 27% in the CPI.  

Among the steepest increases was the price of meat, which surged 33.8% in urban areas and 35.5% in rural areas compared to April last year. Vegetables, a key staple in Rwandan households, also saw significant hikes—8.5% annually in urban areas and 6.6% in rural regions.  

The fresh products index, which includes seasonal items such as fruits and vegetables, recorded a striking 14.6% annual rise. In contrast, energy prices saw a slight 0.7% decline on an annual basis, helping to moderate overall cost pressures.  

A rise in restaurant and hotel charges also contributed to the surge in inflation, with prices increasing by 14.7%, according to NISR. While substantial, restaurants and hotels have a smaller weight of 9% in the CPI calculation compared to food.

Prices of housing, water, electricity, gas, and other fuels (with a weight of 21%) went up by 3.3%, while transport prices (with a weight of 12%) grew by 3.8%.  

On a monthly basis, Rwanda’s CPI increased by 2.3%, a noticeable jump from March, signalling continuing upward pressure on consumer prices.

Meanwhile, core inflation, which excludes volatile items like fresh food and energy, rose by 4.4% year-on-year, suggesting broader underlying price increases.  

The data is crucial in helping policymakers monitor inflation as part of broader economic stabilisation efforts.  

This significant financial turnaround, announced in the company’s results for the period ended 31 March 2025, was fueled by robust revenue growth and reduced depreciation costs.

The company achieved a 12.3% YoY increase in service revenue, totaling Frw67.2 billion, with strong performances in its fintech and data segments.

Data revenue rose by 12.2%, propelled by a 33.6% spike in data traffic and growing smartphone penetration, which now stands at 41.8%.

Popular offerings like GWAMON’ data and voice bundles have continued to drive customer engagement, despite a slight decline in active data users due to heightened market competition.

MTN Rwanda’s Mobile Money (MoMo) platform remains a cornerstone of its growth, with revenue climbing 28.0% YoY. The platform now serves 5.3 million active users, reflecting strong adoption of advanced services such as payments and remittances.

“The way Rwandans are embracing MoMo in their daily lives is both a source of pride and a deep responsibility,” said Chantal Kagame, CEO of Mobile Money Rwanda Ltd.

“As a dedicated partner in Rwanda’s progress, we remain Focused on responsible and inclusive innovation which are key to advancing the country’s ambitious Financial inclusion goals, together.”

The company’s total subscriber base grew by 2.8% to 7.6 million, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 9.3% to Rwf 26.5 billion.

However, the EBITDA margin dipped slightly by 1.2 percentage points to 38.9%, impacted by currency depreciation and higher operational costs.

“We are pleased with the growth and return to profitability,” said Dunstan Ayodele Stober, Acting Chief Finance Officer.

“We continue our efforts to improve profitability through a disciplined expense efficiency program and value-based capital allocation. As we execute our Ambition 2025 strategy, our focus remains on building financial resilience and driving long-term value for our stakeholders .”

Commenting on the results, newly appointed CEO Monzer Ali expressed optimism about MTN Rwanda’s trajectory.

“I am energized by the opportunity to build on our strong foundation[…] I am particularly pleased with our Q1 results, which reflect the strength of our connectivity and platform business together with the resilience of our team,” he said.

“We remain committed to leading Rwanda’s digital transformation by delivering innovative, inclusive solutions that enable progress for all Rwandans,” Monzer added.

Beyond financial performance, MTN Rwanda continues to empower communities through its corporate social responsibility efforts.

The company awarded Rwf 14.5 million to 40 MTN agents under its Level Up Your Biz program, supporting local entrepreneurs with training in digital marketing, finance, and business growth.

With this collaboration, Airtel Africa will further enhance its next-generation satellite connectivity offerings and augment connectivity for enterprises, businesses, and socio-economic communities like schools, health centres in even the most rural parts of Africa.

Airtel Africa will also explore rural coverage expansion through cellular backhauling.

Airtel Africa and SpaceX will continue to explore other areas to promote digital inclusion in the continent as well as SpaceX’s ability to utilize and benefit from Airtel’s ground network infrastructure and other capabilities in Africa.

Commenting on the development, Airtel Africa MD and Chief Executive Officer Sunil Taldar reaffirmed deep committment to its vision to enrich the lives of people of Africa.

“This partnership with SpaceX is a significant step to demonstrate our continued commitment to advancing Africa’s digital economy through strategic investments and partnerships.

“Next-generation satellite connectivity will ensure that every individual, business, and community have reliable and affordable voice and data connectivity even in the most remote and currently under-served parts of Africa,” he stated.

SpaceX Vice President of Starlink Business Operations Chad Gibbs also expressed delight at working with Airtel to bring the transformative benefits of Starlink to the African people in new and innovative ways.

“Starlink is available in more than 20 African markets and this agreement with Airtel highlights how, once licensed, Starlink welcomes the opportunity to join forces with important industry leaders to ensure as many people as possible can benefit from Starlink’s presence.

“The team at Airtel has played a pivotal role in Africa’s telecom story, so working with them to complement our direct offering across Africa makes great sense for our business,” he noted.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with operations in 14 countries across sub-Saharan Africa.

Airtel Africa’s integrated offer provides national and international mobile voice and data services as well as mobile money services to over 156 million customers.

The company’s strategy is focused on delivering a great customer experience across the entire footprint and increasing digital and financial inclusion to transform lives across Africa, in line with our corporate purpose. 

About Starlink by SpaceX

Starlink delivers high-speed, low-latency internet to users all over the world. As the world’s first and largest satellite constellation using a low Earth orbit, Starlink delivers broadband internet capable of supporting streaming, online gaming, video calls and more.

Starlink is engineered and operated by SpaceX. As the world’s leading provider of launch services, SpaceX is leveraging its deep experience with both spacecraft and on-orbit operations to deploy the world’s most advanced broadband internet system.

Monzer Ali brings with him over 24 years of experience in the telecommunications sector, including 21 years within the MTN Group.

His extensive background equips him with a deep understanding of the evolving digital landscape across the region and positions him well to lead MTN Rwanda into its next phase of transformation.

Taking over from Mapula Bodibe, whose impactful leadership guided MTN Rwanda through major milestones, Monzer aims to build on her legacy and carry the momentum forward.

During the staff townhall that was held to welcome the new CEO, Mapula expressed her gratitude to the MTN Rwanda team for their resilience and shared her confidence in Monzer’s ability to lead the company into its next era of growth and innovation.

In his first remarks as CEO, Monzer expressed admiration for Rwanda’s digital progress and excitement for the path ahead.

He reaffirmed MTN Rwanda’s commitment to being a partner in the country’s transformation, and to using technology as a powerful enabler of inclusive growth and to provide the highest quality of service to the Citizen of Rwanda.

He also paid tribute to his predecessor, thanking Mapula Bodibe for building a strong foundation and leaving behind a legacy of resilience and excellence that will continue to inspire the organization’s journey.

Monzer steps into this role at a defining time, with a clear vision for MTN Rwanda’s future built on three core pillars: accessibility, innovation, and sustainability. He emphasizes the importance of ensuring that all Rwandans, regardless of location or economic background, have access to digital tools and mobile financial services that empower their daily lives.

This includes accelerating the rollout of affordable smartphones, expanding mobile banking solutions, and reducing barriers to digital participation.

Through continued partnership with Chantal Kagame, CEO of Mobile Money Rwanda Ltd (MMRL), Monzer will work to deepen the company’s financial inclusion agenda, bringing secure, innovative services to individuals and businesses alike.

Connectivity, sustainability, and customer experience form the backbone of Monzer’s strategy for MTN Rwanda.

He is focused on expanding 4G+ coverage nationwide, enabling fast, reliable access to digital services and preparing the ground for future innovations like 5G.

This investment is aimed at unlocking opportunities in different sectors such as education, healthcare, and entrepreneurship for all Rwandans.

In addition to expanding digital access, Monzer is deeply committed to responsible and inclusive growth.

Under his leadership, MTN Rwanda is committed to advancing green energy initiatives ranging from the adoption of energy-efficient technologies and hybrid or fully electric vehicles to impactful reforestation projects all aimed at reducing the company’s carbon footprint.

MTN Rwanda continues to enhance customer experience through innovations such as self-service web portals, upgraded digital platforms, and modernized service centers.

These improvements are designed to simplify and enrich everyday interactions, putting more control in customers’ hands and minimizing service friction. across the service experience, MTN Rwanda aims to increase satisfaction, because we do not settle for less.

With Monzer at the helm, MTN Rwanda is poised to advance its mission of leading digital solutions for Rwanda’s progress – Forward, together.

The rise was driven by strong performances in both goods and services exports, with the United Arab Emirates (UAE) and the Democratic Republic of Congo (DRC) emerging as the country’s top export destinations.

Rwanda’s top exports include minerals such as gold, coltan, and wolfram, as well as agricultural products like coffee and tea.

The UAE led Rwanda’s export market with a 63.9% increase, reaching over $1.5 billion in value. The DRC followed with a 32.3% rise to approximately $229.5 million.

Exports to Luxembourg surged by an astonishing 243.8%, reaching $55.4 million. Other top markets include China ($83.6 million) and the United Kingdom ($36.1 million).

According to the report, Rwanda’s export growth has been underpinned by targeted interventions from RDB. In 2024, 243 companies across key sectors—including manufacturing, agro-processing, horticulture, services, and handicrafts—were facilitated to access both regional and international markets, generating $164.1 million in export revenues.

To enhance the competitiveness of local businesses and boost Rwanda’s participation in international trade, the Rwanda Development Board rolled out a range of targeted support programs in 2024.

A total of 152 companies received hands-on coaching focused on international trade standards, pricing strategies, product packaging, and compliance with the African Continental Free Trade Area (AfCFTA) requirements.

At the same time, 155 businesses enrolled in the E-Commerce Readiness Program, with 15 completing advanced training to expand their digital sales channels. In addition, 124 small and medium-sized enterprises (SMEs) benefited from business development services that included access to affordable financing, grant opportunities, and tailored advisory support.

To help firms meet global quality requirements, 52 SMEs were supported in obtaining internationally recognized certifications.

Furthermore, 112 SMEs took part in trade fairs and expos held in Senegal, South Sudan, and Rwanda, providing them with platforms to showcase their products, generate immediate sales, and forge new business contracts.