IGIHE

Category: Opinion

  • Inside Rwanda’s new tax policy changes

    The Cabinet approved the changes during a meeting chaired by President Paul Kagame on Monday, February 10, 2025.

    According to the Finance Ministry, the changes are part of Rwanda’s medium-term strategy to strengthen economic resilience and promote self-reliance.

    “These new tax policy reforms are part of the Government’s medium-term strategy to broaden the tax base, increase revenue mobilization, and streamline tax administration in order to meet Rwanda’s development goals,” the Minister of Finance Yusuf Murangwa stated in a statement on Tuesday.

    The reforms touch on multiple sectors, including consumer goods, transportation, telecommunications, tourism, and gambling. They also introduce new levies aimed at enhancing economic sustainability while ensuring the continued transformation of the country as outlined in the Second National Strategy for Transformation (NST2).

    One of the most notable changes is the introduction of a 15% excise duty on cosmetic and beauty products, including makeup, body lotion, and hair products. However, essential pharmaceutical beauty products will be exempted in consultation with the Ministry of Health.

    Vehicle owners will also feel the impact of the reforms, as registration fees for all types of vehicles, including electric cars, will be increased. However, the exact figure was not immediately revealed.

    Similarly, the fuel levy has been adjusted from a fixed fee of Rwf 115 per litre to 15% of the Cost-Insurance-Freight (CIF) to support road maintenance initiatives.

    Mobile phone users will now have to pay 18% Value Added Tax (VAT) on mobile phones, which had been exempted since 2010. The government argues that while the exemption initially helped to boost digital penetration and smartphone affordability, the reintroduction of VAT will allow for more sustainable revenue collection without stifling smartphone access.

    A similar VAT exemption introduced in 2012 on ICT equipment will also be revoked, though selected ICT devices will remain tax-free based on consultations with the Ministry of ICT and Innovation.

    The gambling industry is set to face higher tax measures, with the tax on Gross Gambling Revenue (GGR) rising from 13% to 40%, and withholding tax on winnings increasing from 15% to 25%. The government said the move aims to encourage responsible gambling while also increasing tax revenues from the industry.

    Additionally, the tourism sector will be subject to a new Tourism Levy, which imposes a 3% tax on accommodation costs. This measure aims to fund investments in the country’s tourism and hospitality industry, a critical pillar of Rwanda’s economic growth.

    Green transportation incentives and increased excise taxes

    In a bid to encourage green mobility and reduce carbon emissions, the government has maintained a 25% import duty exemption for hybrid vehicles while introducing an age-based excise duty system. Under the new system, hybrid cars less than three years old will be taxed at 5%, those between four and seven years old at 10%, and vehicles older than eight years at 15%.

    Additionally, VAT and a 5% withholding tax will be reinstated for hybrid vehicles, while fully electric vehicles will remain tax-exempt to encourage their adoption. However, this measure will only take effect in the 2025/2026 fiscal year.

    Excise taxes have also been adjusted in other areas. The tax on cigarettes has increased from Rwf 130 to Rwf 230 per pack, along with an additional 36% tax on the retail price.

    The excise duty on beer has risen from 60% to 65% of the factory price. For airtime, the tax has been raised from 10% to 12% in 2024/2025, with a gradual increase to 15% in the medium term.

    Additional tax policy measures

    Beyond these direct tax changes, the government has also signalled upcoming policy adjustments targeting financial services, transportation, and ICT in the next financial year.

    Among the expected measures are an environmental levy on single-use plastics, new VAT charges on select fee-based financial services, and taxes on fossil fuels and road transportation services of goods.

    Under the ICT sector, the government is expected to roll out the Digital Services Tax, which will be imposed on digital platforms such as Netflix, Amazon, and others.

    The government has assured taxpayers that public awareness programs will be rolled out to educate citizens and businesses on these new tax provisions to facilitate a smooth transition.

    “The Government of Rwanda remains committed to working closely with taxpayers to ensure a smooth transition and to foster a prosperous future for all,” the Ministry added.

    The Government of Rwanda, through the Ministry of Finance and Economic Planning, has announced a new set of tax policy reforms for the fiscal year 2024/2025 aimed at broadening the tax base, increasing revenue mobilization, and streamlining tax administration.

  • Trump imposes 25% tariffs on steel and aluminium imports

    The decision, which is expected to drive up costs for import-dependent industries, has already drawn sharp criticism from major trading partners, including Canada, as well as from domestic businesses.

    Trump has long championed protectionist economic policies. He framed the tariffs as a step toward reviving American manufacturing.

    “This is a big deal—the beginning of making America rich again,” he declared. “Our nation requires steel and aluminium to be made in America, not in foreign lands.”

    Despite concerns about rising consumer prices, Trump insisted that, in the long run, the move would be cost-effective. He hinted at further trade measures, suggesting future tariffs could target pharmaceuticals and semiconductor imports.

    The US, the world’s largest steel importer, relies heavily on suppliers from Canada, Brazil, and Mexico. Canada, which provided over 50% of US aluminium imports last year, is expected to be the hardest hit by the new tariffs.

    Canadian officials reacted with outrage, with Minister of Innovation Francois-Phillippe Champagne calling the decision “totally unjustified.”

    “Canadian steel and aluminium support key US industries from defence to automotive,” Champagne stated. “This policy undermines North American competitiveness and security.”

    Ontario Premier Doug Ford accused Trump of destabilizing economic relations, warning that shifting trade policies put jobs at risk.

    Meanwhile, industry lobbyists in Canada urged immediate retaliation, with lawmakers exploring ways to reduce dependence on the US market.

    The tariffs prompted a surge in US steelmaker stock prices, with Cleveland-Cliffs gaining nearly 20%. However, broader market reactions remained subdued, as investors speculated whether Trump might later soften his stance or introduce exemptions.

    Economic analysts likened the move to Trump’s 2018 tariff campaign, which initially imposed levies on steel and aluminium but later carved out exceptions for countries like Canada, Mexico, and Australia.

    Dartmouth College economist Douglas Irwin suggested the latest announcement could be a bargaining tactic rather than a firm policy shift.

    “The biggest question is whether Trump is using this as leverage or truly committing to long-term protectionism.”

    Trump’s track record includes a history of abrupt trade policy shifts. Just last week, he announced a 25% duty on Canadian and Mexican imports before postponing enforcement by 30 days. He also introduced a 10% tariff on Chinese goods, prompting retaliatory measures from Beijing.

    Critics warn the tariffs will inflate costs for US industries reliant on imported metals, affecting sectors from construction to consumer goods. The US International Trade Commission previously estimated that similar tariffs raised domestic steel and aluminium prices by 2.4% and 1.6%, respectively.

    White House officials defended the policy as a measure to curb unfair competition, particularly from China and Russia.

    The administration introduced stricter regulations requiring steel to be “melted and poured” and aluminium to be “smelted and cast” in North America, aiming to prevent foreign suppliers from bypassing tariffs through third-party nations.

    Nick Iacovella, spokesperson for the pro-tariff Coalition for a Prosperous America, emphasized concerns over a surge in steel imports from Mexico.

    “There are still imbalances in US-Canada trade that need addressing,” he said, adding that Trump’s approach signals a broader effort to rebalance North American trade relations.

    President Trump's new tariff on steel and aluminium imports is expected to drive up costs for import-dependent industries.

  • Catalyst DeepSeek: The Chinese AI startup disrupting the industry

    Whether you follow tech news or not, you’ve probably heard of DeepSeek. This Chinese startup, barely two years old, has made a stunning breakthrough in the AI industry with its latest reasoning model, DeepSeek R1.

    Despite having only a fraction of the training costs of its Western counterparts, R1’s reasoning capabilities rival OpenAI’s o1.

    But what truly sets DeepSeek apart is its commitment to open-source—allowing anyone to freely use, download, and even deploy their own AI models locally. This move has sent shockwaves across the tech world and rattled capital markets, even shaking NVIDIA’s stock price.

    It’s hard to imagine that DeepSeek’s rise to global attention happened during China’s Spring Festival, a time traditionally reserved for family gatherings and lighthearted conversations. Yet, this cutting-edge tech development stole the spotlight from holiday topics and became the center of discussions across the country.

    Interestingly, the same thing happened during last year’s Chinese New Year, when OpenAI’s Sora became the most talked-about innovation.For two consecutive years, the biggest AI news has coincided with China’s grandest festival.

    DeepSeek did not emerge out of nowhere. Industry insiders had been closely watching the company for some time. Over the past weeks, much of the buzz has centered around R1, a reasoning model similar to OpenAI’s O1.

    However, many of DeepSeek’s most astonishing breakthroughs—such as its incredibly low training costs—were already evident when it launched V3 late last year. In fact, many of the innovations behind V3 were first introduced with V2 back in early 2024. This is why DeepSeek has long been considered a rising star in the AI community.

    Over the past weeks, global cloud service providers have been racing to integrate DeepSeek’s models into their platforms. No one wants to miss out on the AI frenzy sparked by DeepSeek. Beyond proving China’s growing competitiveness in AI, DeepSeek’s success has also sparked deep reflection among Chinese tech giants: Why did the most groundbreaking AI breakthrough come from a startup with no commercial pressure rather than from well-funded industry giants?

    I found some answers in earlier interviews with DeepSeek’s founder.

    At the helm of DeepSeek is Liang Wenfeng, whose previous venture was High-Flyer, one of China’s top quantitative hedge funds. High-Flyer relies entirely on AI-driven investment strategies, without human traders. This background gives Liang and his team an innate understanding of AI.

    Unlike many startups that rush into commercialization, DeepSeek chose open-source from the very beginning. This decision wasn’t just about financial independence—it was a strategic move, in the founder’s view, to attract top-tier global talent. Liang once said:

    “In the face of disruptive technologies, a closed model’s competitive moat is only temporary. The real moat lies in a team’s growth, technical accumulation, and a culture of continuous innovation.”

    He further explained: “For technical talent, having others build upon your innovations is immensely fulfilling. Open-source is more of a cultural philosophy than a business strategy—it earns respect. There is also a cultural attraction for a company to do this..”

    In today’s fiercely competitive AI landscape, this vision is particularly striking. While industry leaders like OpenAI have pivoted from open to closed models, DeepSeek is doubling down on openness.

    Liang believes that “building a strong technical ecosystem first is more important” than immediate commercialization. For him, open-source is not just a technological choice—it seems to be a philosophical one.

    Preview: In tomorrow’s article, we will explain in simple terms how DeepSeek has reduced training costs through technological innovation and impacted the global market.

    About the Author

    Yang Zhao is in charge of CGTN’s science, technology, and environmental coverage. He also founded CGTN’s Tech It Out studio, which produces award-winning scientific documentaries, including Human Carbon Footprint, Architectural Intelligence, and Land of Diversity.

  • Rwanda’s consumer prices up by 7.4% in January

    The sharpest increases were observed in transport costs, which surged by 18.5% year-on-year, and in restaurant and hotel prices, which rose by 9.5%. Food and non-alcoholic beverages also saw a significant annual price hike of 7.2%, while education costs went up by 8.4%.

    The overall CPI for Rwanda, which includes both urban and rural areas, registered an annual increase of 5.7% but declined by 1.6% on a monthly basis. Rural inflation remained lower than urban inflation, rising by 4.5% year-on-year but dropping by 2.9% from December 2024.

    The core inflation rate, which excludes fresh food and energy, increased by 6.2% compared to January 2024, reflecting the persistence of underlying price pressures.

    Rwanda’s inflation trends have fluctuated in recent months, with rising costs in key sectors such as transport, hospitality, and essential goods affecting household budgets. The annual average inflation rate between January 2024 and January 2025 stood at 5%.

    The NISR compiles the CPI based on data from 12 urban centres across the country, tracking price movements in a basket of 1,622 products.

    “Weights used for the index are from the Household Living Conditions Survey (EICV4) results conducted in 2013-2014 with a sample of 14,419 households,” the report reads.

    The index serves as a key indicator for policymakers and the central bank in managing inflationary pressures and economic stability.

    The sharpest increases were observed in transport costs, which surged by 18.5% year-on-year, and in restaurant and hotel prices, which rose by 9.5%.

  • Why RRA shut down more than 40,000 taxpayer accounts

    This was due to registered businesses that never operated or ceased operations for various reasons. The closure of these accounts led to a reduction of nearly 100,000 small taxable businesses.

    Jean Paulin Uwitonze, the Deputy Commissioner for Taxpayer Services and Communications at RRA, told the national broadcaster (RBA) that the decrease resulted from technological reforms that enabled the identification of registered businesses and taxpayers that were not actually operational.

    “With the adoption of digital systems, RRA was able to access information that was previously unavailable, allowing us to make informed decisions. For instance, some young graduates eager to become entrepreneurs would register businesses and receive TINs, but later, many found formal employment, leaving their TINs unused with no tax payments, no imported goods, and no business transactions within the country,” he explained.

    Previously, RRA’s digital system imposed penalties on these inactive accounts as non-compliant taxpayers. However, after thorough investigations confirmed that these businesses never operated, the authority opted to close the TINs instead.

    Additionally, some TINs were either closed or suspended due to businesses that had been active but later ceased operations.

    “There were TINs that were once used for tax payments but later became dormant. After a period of inactivity with no indication of ongoing business operations, some owners even approached us to explain that they had secured employment and stopped running their businesses. Should we continue treating them as taxable businesses? In such cases, we closed or suspended their TINs,” Uwitonze added.

    He emphasized that this move was aimed at ensuring that only those required to pay taxes are taxed, clarifying that it does not indicate a decline in the number of taxpayers.

    The decision also relieved individuals who had inactive TINs from penalties for non-compliance, despite no longer engaging in business.

    In the past fiscal year, RRA closed over 40,000 tax accounts and suspended more than 130,000 others. As a result, the number of taxable small businesses dropped from 465,378 to 382,318, while the number of taxable medium-sized businesses declined from 842 to 786.
    More than 40,000 taxpayer accounts and their corresponding Taxpayer Identification Numbers (TINs) were closed in the past fiscal year.

  • RURA announces increase in fuel prices

    In the latest adjustments, the maximum retail price for gasoline (Premium Motor Spirit) has increased by Frw 59 to retail at Frw 1,633 per litre, up from Frw 1,574. Diesel (Automotive Gas Oil) has risen by Frw 71 to a maximum retail price of Frw 1,647 per litre, up from Frw 1,576.

    The new maximum retail prices take effect from 6:00 AM on February 9, 2025, and will remain in place for the next two months.

    “These adjustments are primarily based on recent fluctuations in international petroleum product prices,” Evariste Rugigana, the Director General of RURA, explained in a statement released on Saturday night.

    The revision comes at a time when many economies worldwide are grappling with volatile fuel prices, influenced by global supply and demand dynamics. The ongoing conflict in Ukraine has particularly affected energy supplies from Russia, a major exporter, since the war broke out in February 2022.

    In the latest adjustments, the maximum retail price for gasoline (Premium Motor Spirit) has increased by Frw 59 to retail at Frw 1,633 per litre, up from Frw 1,574. Diesel (Automotive Gas Oil) has risen by Frw 71 to a maximum retail price of Frw 1,647 per litre, up from Frw 1,576.

  • South Africa’s soldiers are battling weight more than war

    The South African National Defence Force (SANDF) has a weight problem. Nearly 10% of its 60,000 soldiers are overweight or even obese. That is 6,000 troops who might struggle to run after an enemy, let alone complete a fitness test. Instead of fighting on the battlefield, it seems some are fighting to fit into their uniforms.

    So, how did we get here? The love for good food is real. Many soldiers admit they just cannot resist a big meal (who can say no to a braai?). Then there is the issue of cravings, because why do sit-ups when slap chips are calling your name?

    The cost of eating healthy is another factor since a salad is somehow pricier than a greasy burger. And let us not forget the all-time favourite excuse: “I am too busy to exercise.”

    The issue of overweight soldiers came into sharp focus last year when pictures of some South African soldiers deployed in the Democratic Republic of Congo to fight against M23 started circulating online. Many questioned whether they would even be able to run when necessary.

    The images sparked debates about SANDF’s combat readiness and the physical condition of its troops, especially when facing an opponent like M23. Unlike SANDF’s troops, M23 fighters are known for being physically fit, battle-hardened, and experienced in guerrilla warfare.

    Since South African soldiers have already been deployed in the DRC and have suffered heavy casualties, President Cyril Ramaphosa must make sure they are not sent back as mere ingredients for another tragic recipe. If they are to be there, at least give them the tools to fight, not just prayers and press statements.

    The South African Army is not just struggling with overweight soldiers; it is drowning in a sea of problems. Budget constraints have left defence spending at a measly 0.7% of GDP, leading to underfunding in critical areas. Ageing equipment means many military assets are outdated, and financial struggles make maintenance a nightmare. Personnel costs eat up a massive portion of the defence budget, leaving little room for essential operations.

    On top of that, skills shortages are affecting operational readiness, while an ageing personnel base means fewer soldiers are physically fit for active duty. The number of medically deployable forces is low, further limiting the army’s ability to respond effectively to crises. No wonder their recent mission in Mozambique was a complete failure.

    Structural challenges caused by past restructuring efforts have created inefficiencies, and to make matters worse, corruption and mismanagement have drained resources and shattered trust within the military.

    Recent casualties in peacekeeping missions in the DRC have only further highlighted these issues, straining international relations and proving that the SANDF is ill-equipped to handle modern conflicts.

    It is time for action, not excuses. Mess halls need to serve healthier meals with less grease and more greens. Fitness should be non-negotiable. If you cannot meet basic fitness standards, you should not be in the army.

    Leadership is also important. Commanders need to lead by example. If the bosses are fit, the troops will follow. At the end of the day, an army that cannot run, cannot fight. If SANDF wants to stay ready for real battles like the one in DRC, it needs to win the war against weight first. Otherwise, the only thing some soldiers will be chasing is the lunch menu.

    South African Defence Force soldiers have been repeatedly warned to slim down.

  • The growing impact of collective investment schemes in Rwanda’s Capital Market

    The virtual event brought together key industry leaders to educate the public on the advantages, risks, and accessibility of CIS.

    CIS are investment funds that gather money from multiple investors and allocate it into a diversified portfolio of assets. These schemes offer several benefits, including professional fund management, lower investment risk through diversification, and access to investment opportunities that may be difficult for individual investors to reach.

    In Rwanda, two CIS are currently licensed: the RNIT Iterambere Fund and the BKC Aguka Fund. By the end of December 2024, their total assets under management (AUM) had grown to RWF 67.49 billion, with 34,465 unit holders, up from RWF 64 billion and 28,895 unit holders in June 2024.

    This growth reflects increasing investor confidence and participation in Rwanda’s capital markets.
    Agnes Nyirankeza, CEO of BCP Investment Managers noted that “The CIS industry can help create quality jobs in Rwanda by employing financial analysts and portfolio managers. It is a crucial part of our economy, offering diverse investment opportunities with professional management.”

    Siongo Kisoso, Managing Director of BK Capital stressed that “The future of CIS in Rwanda is bright. As the market develops, we expect greater innovation, increased investor participation, and a wider range of investment options. CIS provide a balanced approach, combining professional management with accessibility and risk diversification.”

    Jonathan Gatera, CEO of RNIT Iterambere Fund said that since launching in 2016 as Rwanda’s first CIS, the RNIT Iterambere Fund has grown its assets from RWF 3 billion to over RWF 45 billion.

    “Investors can start with as little as RWF 2,000 and only need an ID card. The Net Asset Value per unit has increased from RWF 1,000 to RWF 1,238, reflecting an annual net return of about 11.78%. We plan to introduce more schemes to enable broader participation,” he said.

    Pierre-Célestin Rwabukumba, CEO of the Rwanda Stock Exchange (RSE) expressed commitment to educating the public on CIS, as they provide the easiest access to the market.

    “I encourage BK Capital to consider listing on the RSE for visibility, and I urge all stakeholders to introduce more CIS and investment products to expand opportunities for everyone,” he advised.

    Thapelo Tsheole, CEO of the Capital Market Authority (CMA) explained that CIS offer the simplest entry point for market investment.

    “To enhance productivity, we must create more schemes, develop new investment products, and invest in technology. By working together, we can broaden the scope of CIS in Rwanda,” he said.

    As Rwanda’s capital markets continue to expand, the rise of CIS will play a key role in driving financial inclusion and economic development, providing investors with accessible and secure long-term investment opportunities.
    Rwanda’s financial sector is expanding, creating more opportunities for investors to grow their wealth including Collective Investment Schemes (CIS).

  • IremboGov: Your homeland, just a click away

    As a leading digital transformation initiative, Irembo facilitates streamlined access to essential government services through its IremboGov platform. The platform currently provides Rwandan diaspora members with convenient access to more than 240 government services. Through personalized accounts, users can make applications securely and independently from any global location. No more third-party reliance, no more bureaucratic headaches—just a seamless, digital-first experience that keeps you connected to your homeland.

    Bridging the Distance: A Digital Solution for Every Rwandan

    Rwandans abroad face unique challenges when accessing government services. Time zone differences, slow processing, and reliance on others often make simple tasks unnecessarily complicated. IremboGov eliminates these barriers, ensuring that every Rwandan, whether in New York, Paris, or Nairobi, can manage their government services effortlessly.

    Why the Diaspora Loves IremboGov

    • Access anytime, anywhere – Whether it’s midnight in Canada or early morning in Kigali, IremboGov is available 24/7.
    • No intermediaries – Apply directly, with full autonomy over your documents and requests.
    • Transparency at every step – Track the status of your applications in real time.
    • Secure & user-friendly – Our streamlined interface and secure account system provide you with a safe and intuitive experience.

    From renewing passports to requesting national IDs, IremboGov puts the power in your hands where it belongs.

    A Game-Changer: Access Over 240 Government Services

    Getting started is easy:

    1. Visit: Head to irembo.gov.rw
    2. Register: Sign up as a citizen living in the diaspora for a secure account in minutes using your:
    – Consular card number, applied through the Rwanda Community Abroad website.
    – Rwandan national ID number.
    3. Explore: Browse and apply for different services tailored for all IremboGov users, with even more coming in 2025.

    Irembo currently provides Rwandan diaspora members with convenient access to more than 240 government services.

    In a significant move towards inclusivity, we have extended vital identification services to the Rwandan diaspora together with the Rwanda National Identification Agency (NIDA).

    Through this collaboration, citizens living abroad can now access essential services, including:

    • Application for a National ID for diaspora applicants without an NPR number.
    • ID correction for diaspora.
    • ID replacement for diaspora.

    This initiative bridges a crucial gap, ensuring that Rwandans worldwide maintain their connection to home through proper identification—whether applying for their first ID, replacing a lost ID, or correcting information on an existing ID.

    By digitizing these services, we have eliminated all barriers, allowing our global citizens to manage their identification needs efficiently and securely online. These services and many more strengthen national connections by helping the diaspora maintain official ties to their homeland.

    Real Stories: The IremboGov Impact

    A Rwandan living in Belgium recently needed to replace his National ID. Initially worried that he would need to wait for his summer holidays back home, he instead logged into his IremboGov account. Within minutes, he submitted his application and received live updates throughout the process. Thirty days later, his National ID was ready for pickup at the Rwandan embassy—fast and transparent.

    By digitizing services, Irembo has eliminated all barriers, allowing global citizens to manage their identification needs efficiently and securely online.

    Help is Always on the Way

    For those who need support, Irembo offers dedicated multilingual assistance:

    No matter where you are, help is only a call or message away.

    The writer, Danny Bayisabe, is the Go to Market Lead at Irembo.

  • Rwanda’s export prices surge by 5.9% in December

    The report, released on January 31, 2025, highlights that the highest price increase was for tea products, at 16.2%, while mining prices rose by 1.2%. The rise in export producer prices reflects strong international demand for Rwandan goods, particularly in tea and mining.

    The general Producer Price Index (PPI), which measures the overall changes in prices received by domestic producers, increased by 0.2% annually but declined by 0.5% on a monthly basis.

    For locally sold products, the Local Producer Price Index (LPPI) fell by 2.5% annually, indicating a drop in prices within Rwanda’s domestic market. However, on a monthly basis, local producer prices rose by 0.5%, suggesting a short-term recovery.

    Decline in Monthly Export Prices

    Despite the 5.9% annual increase, Rwanda’s export producer prices fell by 2.2% in December compared to November 2024. The report attributes this to a 3.9% decline in tea product prices and a 0.5% drop in coffee product prices within the month.

    Meanwhile, manufacturing prices saw mixed results, with an annual increase of 0.1% but a monthly drop of 0.6%, largely due to falling prices in certain industrial goods.

    While tea prices rose significantly, coffee product prices fell by 2.8%, affecting overall performance.

    The Producer Price Index (PPI) survey covers 114 establishments and 402 products across Rwanda. The data is collected in collaboration with the National Bank of Rwanda (NBR) and focuses on key sectors such as mining, manufacturing, and utilities.

    The NISR report notes that price data is collected monthly and reflects the selling price received by producers at the factory gate, excluding taxes and transport costs. The PPI is calculated using the geometric modified Laspeyres formula, with December 2010 as the base year.

    Worker counts packages for export at Pfunda Tea Company. Rwanda’s export producer prices increased by 5.9% in December 2024 compared to the same month last year.