Category: Business

A graduate of ETO Kibuye, Dusabe Joseph, 34; from Rubavu district has made a three-tier boat with a carrying capacity of more than 2000 passengers.

Dusabe who completed his TVET studies in ETO Kibuye, embarked on assembling the edifice on the border with DRC after getting inspired by the current policy of Rwandan government of creating own jobs through ‘Hanga Umurimo’ project.

The boat has been named “Emmanuel 3” and received an international award of excellence from the international organization of transport operating in Great Lakes region.

“I received the certificate since the boat’s capacity goes beyond operating in lakes but to be used on a large sea,” he said.

Dusabe says that his innovation has provided job opportunities to more than 300 people.

Dusabe commends President Paul Kagame for having introduced the program of creating own jobs which informed his current progress. He further requested TVET students to be more practical and exploit all the possible opportunities.

Mupenzi Christian, one of employees that have built the boat with Dusabe said “My job is to fix glasses onto the boat. I can earn Rwf one million per month when the situation is good.”

Sailers on Lake Kivu have welcomed Emmanuel 3 but lament the challenge of lack of ports where such a big liner can dock. The executive secretary of Nyamyumba sector, Sebikari Munyanganizi Jean said that they are doing everything possible to address the challenge.

Tourists, local farmers and sellers gathered to Christmas Village Market at Red Rocks this year’s edition of the Christmas Village Market ended in earnest at the Red Rocks Campsite in Nyakinama village, Musanze district – with more than 200 people getting involved.

The event debuted in 2013. This year’s edition opened on November 28 and closed on December 24. It has become a meeting place for Musanze locals and foreign tourists who converge at the Red Rocks Campsite for a lively celebration of Rwandan culture/music, environmental conservation and sustainable community tourism.

The annual event also acts as a market for homemade handcrafts that aim to expose the cultural pillars of Rwandan society. At the same occasion it gives a chance to foreigners to understand the daily life of Rwandans with the complicity of locals.

Greg Bakunzi, Managing Director of Amahoro Tours, the travel company that organises the Christmas Village Market, explains why the month-long event is becoming so popular.

“Throughout the four weeks, daily activities make Red Rocks the ultimate family destination. Every single evening features musical performances by cultural troupes till late in the night. It’s basically a perfect place to gather with family and friends to shop, meet new people, and also have some fun along the way,” he says.

37 members of several cooperatives participated in the event’s part dubbed “farmers markets” with outdoor stalls and vendors selling a variety of merchandise such local food, cakes, decorations, handicrafts, ornaments, gifts, etc. Each of those members gained an average amount of 100 000 Rwandan francs.

“This place aims at showcasing that models of sustained development of rural community are the right way to empower them via those farmers/handcrafts markets which can be duplicated countrywide to eradicate poverty in rural areas” Added Mr. Bakunzi.

Activities within this year’s event , included showcasing various aspects of Rwandan culture: local food, art and crafts, traditional dances, story-telling and live painting/music performances, to mention but a few.

The Rwanda’s Capital Market Authority (CMA) urged thousands of youth from across Rwanda to secure early their financial future by saving and investing in the nation’s capital market.

This has been revealed by the Deputy Executive Director of CMA, Eric Bundugu while addressing 3,000 young people at the fourth annual National YouthConnekt Convention closed on 22 December at Petit Stade.

According to Bundugu, beside understanding capital market products, the youth ought to be educated on the need to plan for their financial future ahead of time. The capital market is not only accessed by institutional investors and individual investors but can as well participate in the market.

“We are committed to building a financially literate generation and will continue to commit resources to implement a variety of programmes that will enable young people instill the required skills and knowledge that will help them navigate the future through effective savings and investments.” He added.

James Mutabazi, 18 from Rubavu District said that “I’ve always heard that the stock exchange is relevant to the economy of our country. Being here today is an opportunity for me to get information that will allow me to participate in the market”

One of the statutory objectives of the Capital Market Authority, CMA is to promote and develop the capital markets industry in Rwanda. Investor education is one of the ways of attaining this goal.

CMA initiated a national public education programme to facilitate an interactive and educational forum to enable the general public (local and diaspora) understand the benefits of savings and investing through the capital market.

Nkurunziza Jean Dean, the Managing Director Eastland Motel-Kayonza, says it simply and clearly. “We train these youths here, equip them with hospitality skills to serve as if the hotel belonged to them and to count every client as if their very own life depended on them.” His is a second statement; the first having been made by a young waiter’s actions. This Friday afternoon as I enter the hotel, he picks a clean felted cloth, cleans the already meticulously glimmering ebony-made counter, flashed by dimly intermittent lights that kiss bottles and glasses about, like the blushing of dawn. Subdued music emanates from strategically placed speakers.

Then, with luxuriant confidence and an extravagant smile, he walks towards me, welcomes, greets and asks me to feel at home. Waste of time and words; I was already feeling thus. After heartily quaffing my cold drink, coke, I sit the waiter down to have his tale of how he manages to be so professional.

This waiter, Bagire Edward, 26, is among the 93 beneficiaries, of the Industry-Based Training Project (IBT), getting equipped with hospitality skills at Eastland Motel, Kayonza, in the Eastern Province. Under the auspices of Workforce Development Authority (WDA) through the Skills Development Fund (SDF) with funding from the World Bank, the programme is currently benefitting 390 youths drawn from around the country.

WDA has partnered with four hotels in total, to train youth from the hotel industrial environment, the other three being; Urumuli Hotel, Gicumbi, (91 trainees), Moriah Hill Resort, Karongi (91) and Virunga Hotel, Musanze (105).

I ask Bagire how he appreciates the course he is undertaking. “We get professional skills in hospitality from the training environment similar to where we shall be working from after graduating. We kill two birds with one stone: we get the theory and practical experience right from the start,” explains Bagire who is specializing in Front Office Operations.

Mr Nkurunziza, the Eastland Motel Managing Director, says WDA-supported trainers offer more than just training. “It is a vigorous programme that involves coaching and mentoring. The ultimate goal is to have hospitality professionals on the market that serve with dedication and passion.”

The training is being delivered in each of the aforementioned hotels for 9 months; 6 months of classroom training and 3 months of industrial attachment. Focus is on 4 training occupations: Culinary Art; Food & Beverage Service, Housekeeping Operations and Front Office Operations.

According to Wilson Muyenzi, the Coordinator, Skills Development Project; “the first cohort commenced on December 16th 2013 with; registration, induction and orientation with actual training beginning on16th January 2014. The trainees undergo classroom training for a period of 6 months in the hotels after which they do 3 months of industrial attachment in different hotels, guesthouses and restaurants.”

The trainees are also equipped with soft skills which form a strong foundation for flawless hospitality services as Bagire explains. “Besides the occupational skills, in this training we get extra soft and people-skills; English language, computer and customer care skills.”

Ms Hortence Mazimphaka, the General Manager Moriah Hill Resort Karongi, says with IBT, Rwanda is building a competitive breed of young professionals with skills that are needed to match with the rapidly growing hospitality industry. “The trainees are being given a good foundation, direction and focus. At the moment they do not pay anything; WDA foots all the training bills, but as they graduate and get employed, they can sponsor themselves into acquiring advanced skills. The ultimate goal is meeting the international hospitality standards. We have started from somewhere and we shall eventually get there,” she enthusiastically promises.

Sam Barigye, the Coordinator, Hospitality and Tourism Training WDA, says the World Bank sponsored IBT program has taken on youths with a minimum of senior six education that can adequately express themselves in the English language. “The youths that have been recruited do not have any prior knowledge in the hospitality, so their knowledge and skills are built from scratch,” explains Barigye.

He says the four hotels working with WDA/SDF from where the learners are trained have been equipped with training equipment. “Besides equipping the hotels with hard facilities and tools, the consumables used in training are also provided in addition to four trainers per hotel. But there are master trainers from Remera Hospitality Academy that visit the training sites to supplement the efforts of the resident trainers.” Trainees are also equipped with computer and soft skills.

The program, Barigye explains, is being piloted in hospitality in the selected four districts but will be scaled up geographically and to other priority sectors that have been identified by the government of Rwanda.

Alex Munyaneza, a trainer at Remera Hospitality Academy who is a visiting master instructor to different training sites, says at the end of the course, the programme will have produced very competitive young hospitality personnel that will significantly bridge the existing skills gaps. “There is a concomitant imparting of skills; theory and practice. Every topic introduced to the learners is backed by real time demonstrations and practices. At the end of the day, we shall have trained all-round hospitality professionals that have both technical and soft skills,” explains Munyaneza.

And have the trainees embraced the training with delight? Bagire Edward summarizes his gains and hopes in no uncertain terms. “My short term goal after graduating is very clear; work, get some more coaching and mentoring, share some skills with other youths and gain that clamored for experience. But because we are as well empowered with entrepreneurship skills, my long-term goal will be to establish my own hotel. I will have acquired the skills, experience and I already have the will. Nothing will stop me,” promises the confident budding hospitality professional.

Bagire is among the close to 400 youngsters that have been supported by WDA/SDF, bound to change the hospitality lattice of Rwanda in the not so distant future.

Rwanda has joined Sudan in requiring Kenyan banks to inject additional billions into the subsidiaries after the regulator National Bank of Rwanda (NBR) issued new minimum capital requirements.

New guidelines by Rwanda’s financial watchdog have given the banks a year to raise capital buffers by up to 2.5 per cent of their deposits to improve their stability in times of losses and economic stress.

Introduction of the capital buffer will push the minimum ratio of core capital to total deposits up from the current eight per cent to 10.5 per cent.

The ratio of total capital to credit advances will also go up to 14.5 per cent.

The introductions will see Rwanda banking sector match the capital requirements of its Kenyan counterpart.

“The parallel running exercise aims at ensuring that banks prepare adequate data and system requirements and building capacity and skills to ensure full implementation in January 2017,” reads the directive signed by NBR, governor John Rwangombwa.

The exercise demands banks submit their financial reports in line with the new requirements from the end of last month allowing NBR to monitor compliance.

Kenyan banks operating in the country include Equity Bank, KCB, and I&M and had a total of 57 branches in the country as at end of last year. Commercial Bank of Africa has announced plans to enter the market in the first half of next year.

Banks operating subsidiaries will be required to separate the group capital position from that of the subsidiary in an effort to ensure the regional operations can remain standing even when the parent company encounters turbulence.

“The solvent status of Kenyan banks is of particular importance to the regional financial stability, as Kenyan banks have opened branches in the region,” noted Mr Rwangombwa last month in Rwanda’s financial sector stability report.

Rwanda becomes the second country in Eastern Africa, where Kenyan banks have subsidiaries, to order they increase capital requirements in as many years.

South Sudan increased paid up capital requirement for international banks this year by Sh2.15 billion for each bank.

READ: Kenyan banks face higher capital rules in South Sudan

Uganda has also indicated plans to increase its capital requirements, a move that will slow down regional expansion for small banks while tying down huge sums of cash for the Kenyan banks already in those market.

Last year NBR introduced a supervision fee requiring all banks operating in Rwanda to pay 0.5 per cent of their gross income while new entrants will be required to pay a new licence fee of Sh700,000.

SOURCE:BUSINESS DAILY:Rwanda gives Kenya bank subsidiaries a year to boost capital

Rwanda Agriculture Board (RAB) has called upon Rusizi district beekeepers to adopt good apiculture practices so as to increase honey harvests supplied on international markets.

Beekeepers received the message yesterday while receiving 40 modern hives, apparels and gear to wear during honey harvesting and honey processing machines all valued at Rwf 5 million provided by MINAGRI.

Mwiza Willy, head of apiculture program at RAB, said that many countries face honey shortage because of inappropriate bee farming, harvesting and post-handling methods.

“Various countries request us to supply honey but we have insufficient harvests. Donated materials must help to boost honey harvest,” he said.
Rusizi beekeepers have so far improved production to 7 tons of honey within six months up from 4 tons per year.

Kankindi Leoncie, Rusizi deputy vice mayor for economic and social affairs, says that honey harvesting shall increase three-fold if donated hives are well utilized.

Nzeyimana Joshua, one of the honey harvesters commended the donation and pledged to increase the productivity. He however lamented the lack of packaging materials as an obstacle to post-harvest handling, keeping the quality and access to international markets. Apiculture was introduced in Rwanda in 1956.

Gatsibo and Nyaruguru beekeepers and honey harvesters are bound to multiply productivity and gains from apiculture (bee farming and honey harvesting), following the acquisition of modern hives that will see them migrate away from using traditional ones.

The modern hives that were donated by the UN Food and Agriculture Organisation (FAO), over the weekend, at Kiziguro sector, Gatsibo district, are to benefit members of cooperatives in both districts, with production anticipated to increase from 2.5kgs to 40kgs per hive per harvest season.

“With traditional hives, we used to harvest 2.5kgs; but with modern ones, we are assured of harvesting 40kgs per hive. This will greatly improve our incomes and cast us into a position where we’ll be able to meet household needs and eventual development,” said Hakizimana Wenceslas, a beekeeper from Nyaruguru who talked to IGIHE.

The beekeepers say they have been trained to reap from forests in a sustainable manner, abstaining from felling the trees but to, instead, use them for apiculture.

During the recent monthly community work of planting trees in Gatsibo district, the representative of FAO Rwanda , Attaher Maiga revealed that in collaboration with the Ministry of Natural Resources ,they have supported Gatsibo residents with various donations that will boost agricultural and apicultural productivity.

“It is essential that people get to know how forests contribute to food production. This project aims at improving livelihoods by engaging in growing mushrooms, fruits, and honey harvesting as alternatives to lumbering,” he said.

A total of 12 cooperatives have received modern hives in Gatsibo district and 58 in Nyaruguru.

The Minister of Natural Resources, Vincent Biruta has requested beneficiaries of modern hives to make a good use of the donations.

“We expect increased production among these cooperatives as well as other people running activities that can boost productivity and increase the country’s wealth for fast development,” he said.

FAO representative noted that the project is guaranteed for three years, partnering with 70 cooperatives of Gatsibo and Nyaruguru. FAO will be spending USD150,000 annually in promoting apiculture, mushrooms, horticulture and some medicinal plants growing.

CYTONN Investments has expanded its operations to Rwanda and Uganda as part of its regional growth plan.

It held investor forums in Kigali and Kampala. The company is exploring partnerships for investment opportunities.

“We view the eastern African region as one integrated market and aim to avail services to all investors in each of the countries in the region,” said Edwin Dande, managing partner and Chief Executive Officer in a statement.

John Mwangemi, Kenyan ambassador to Rwanda said the expansion will help faster integration of the economies of EAC nations. It recently opened an office in Washington DC for diaspora.

SOURCE:ALL AFRICA:Cytonn Now Bets Big On Rwanda