Category: Opinion

  • Rwanda’s central bank to begin investing in gold starting July

    Rwanda Central Bank Governor Soraya Hakuziyaremye made the revelation during a press conference on Thursday, May 15, following a recent Monetary Policy Committee (MPC) meeting.

    Addressing growing interest in gold among central banks in the East African Community (EAC) region, Governor Hakuziyaremye said Rwanda’s central bank conducted a detailed study on incorporating gold as an additional reserve asset.

    The move follows a trend observed by the EAC Central Bank Monetary Affairs Committee, which noted several regional central banks considering gold to diversify and strengthen their reserves.

    “Given gold’s ability to counter shocks in the financial market and serve as a hedge against external uncertainties, we have decided to explore it as a new asset class,” Governor Hakuziyaremye explained.

    The central bank boss emphasised that capital preservation, liquidity, and reasonable returns remain the primary objectives for the central bank’s foreign reserves investments.

    “The good news is that gold meets these criteria at this time, which makes our consideration positive,” she said.

    The central bank has already secured board approval to include gold investments in its portfolio.

    However, Governor Hakuziyaremye highlighted that gold is a new asset for the bank, and further updates on acquisition volumes and expected returns will be communicated by the end of the current financial year.

    “This is a learning process, and as we continue benchmarking with our peers, we plan to start adding gold to our reserves from July 2025,” she said.

    Meanwhile, the bank maintained the lending rate at 6.5 percent, a level Governor Soraya noted is aimed at keeping inflation within the targeted 2 to 8 percent range.

    Commenting on the economic outlook, she said headline inflation rose to 6.7 percent in the first quarter of 2025, up from 5.2 percent in the previous quarter, largely driven by increases in core and fresh food prices. Core inflation climbed to 6.1 percent, while fresh food inflation surged to 11.2 percent, mainly due to a base effect from unusually low prices in early 2024 and rising meat prices.

    Despite the uptick, inflation remains within the medium-term target range and is expected to average 6.5 percent in 2025 before easing to 3.9 percent in 2026.

    “Inflationary risks remain, particularly from global geopolitical tensions and shifting trade policies,” the central bank governor warned, but emphasized that the current rate should continue to anchor inflation expectations.

    The recent MPC meeting also noted Rwanda’s ongoing economic resilience, with the Composite Index of Economic Activity (CIEA) registering a 9.3 percent year-on-year increase in Q1 2025, supported by robust industrial and services performance. The economy grew by an impressive 8.9 percent in 2024, buoyed by a rebound in agriculture and strong domestic demand.

    However, Rwanda’s trade deficit widened by 10.8 percent in Q1 2025, as merchandise exports fell by 3.0 percent—mainly due to declining re-exports—while imports rose 5.8 percent, driven by increased demand for machinery and raw materials. This put pressure on the Rwandan franc, which depreciated by 2.46 percent against the U.S. dollar by the end of April.

    NBR Governor Soraya Hakuziyaremye confirmed that the central bank plans to begin investing in gold as part of its foreign exchange reserves portfolio starting in July 2025.Addressing growing interest in gold among central banks in the East African Community (EAC) region, Governor Hakuziyaremye said Rwanda’s central bank conducted a detailed study on incorporating gold as an additional reserve asset.

  • Rwanda’s central bank maintains lending rate at 6.5%

    NBR Governor Soraya Hakuziyaremye announced the decision on Thursday, May 15, a day after a meeting of the Monetary Policy Committee (MPC), which sets the rate quarterly to guide the cost of borrowing and maintain macroeconomic stability.

    This marks the fourth consecutive time the MPC has held the rate at 6.5 percent, following its initial reduction from 7.0 percent in August 2024.

    Addressing members of the press, Governor Soraya said the current rate remains appropriate to keep inflation within the targeted 2–8 percent band.

    Headline inflation rose to 6.7 percent in the first quarter of 2025, up from 5.2 percent in the previous quarter, largely driven by increases in core and fresh food prices. Core inflation climbed to 6.1 percent, while fresh food inflation surged to 11.2 percent, largely due to a base effect from unusually low prices in early 2024 and rising meat prices.

    Despite the uptick, inflation remains within the medium-term target range and is expected to average 6.5 percent in 2025 before easing to 3.9 percent in 2026.

    “Inflationary risks remain, particularly from global geopolitical tensions and shifting trade policies,” the central bank boss warned, but emphasised that the current rate should continue to anchor inflation expectations.

    The MPC also noted Rwanda’s ongoing economic resilience, with the Composite Index of Economic Activity (CIEA) registering a 9.3 percent year-on-year increase in Q1 2025, supported by robust industrial and services performance. The economy grew by an impressive 8.9 percent in 2024, buoyed by a rebound in agriculture and strong domestic demand.

    However, Rwanda’s trade deficit widened by 10.8 percent in Q1 2025, as merchandise exports fell by 3.0 percent—mainly due to declining re-exports—while imports rose 5.8 percent, driven by increased demand for machinery and raw materials. This put pressure on the Rwandan franc, which depreciated by 2.46 percent against the U.S. dollar by the end of April.

    Money market trends have followed suit. The interbank rate declined to an average of 6.78 percent in Q1 2025, down from 8.29 percent a year earlier, reflecting the impact of earlier rate cuts. Deposit and lending rates also fell, with the average lending rate dropping to 15.89 percent from 16.35 percent.

    Going forward, the central bank reaffirmed its commitment to closely monitoring both global and domestic economic trends and to adjusting policy as needed to maintain price stability and support growth.

    “The MPC stands ready to take appropriate measures if inflationary pressures intensify,” Soraya stated.

    Addressing members of the press, NBR Governor Soraya Hakuziyaremye said the current rate remains appropriate to keep inflation within the targeted 2–8 percent band.This marks the fourth consecutive time the MPC has held the rate at 6.5 percent, following its initial reduction from 7.0 percent in August 2024.

  • Africa Re wins Pan-African Champion Award 2025

    The award recognises Africa Re’s significant strides in expanding its footprint across the continent and positioning itself as a global player in the reinsurance sector.

    Organised by the Africa CEO Forum, the Pan-African Champion Award is presented to an African company that has most increased its presence across the continent while implementing a consistent and coherent regional growth strategy.

    Eligible companies must operate in more than five African countries and record annual revenues of at least €50 million.

    In 2024, the award was bestowed upon the Africa Finance Corporation (AFC) for its instrumental role in developing infrastructure and industrial value chains throughout Africa.

    In a statement following Africa Re’s victory, Dr. Corneille Karekezi, Group Managing Director of the corporation, welcomed the recognition as a reflection of its achievements over the past year.

    “I thank God for this continental recognition, which comes on top of an exceptional 2024 year in all performance metrics. We are the largest and most financially rated reinsurance company in Africa and the Middle East. With 31% of our 2024 turnover ($1.2 billion) coming from outside Africa, we export African excellence in overseas markets such as China, the Middle East, Brazil, Israel, and India,” Dr. Karekezi said.

    Africa Re’s cross-border operations and growing share of business from international markets were key factors in its selection. The company’s performance in 2024 and continued expansion have strengthened its position as a driver of African excellence in global financial services.

    The Africa CEO Forum Awards, organised in partnership with the International Finance Corporation (IFC) and Forvis Mazars, celebrate leadership, innovation, and excellence within Africa’s private sector.

    In addition to Africa Re’s recognition, this year’s awards honoured several other standout performers. Danone received the Local Impact Champion award for its contributions to community development and sustainability, while Rawbank was named Family Business of the Year, reflecting its strong governance and generational leadership.

    The Gender Leader award went to Schneider Electric, recognising its commitment to gender equity in the workplace. Nala, a fintech company driving digital disruption, earned a place in the Disrupters Club.

    Finally, Idrissa Nassa, CEO of Coris Bank, was honoured as CEO of the Year for his transformative leadership in the banking sector.

    The awards ceremony is a key feature of the Africa CEO Forum, which gathers more than 2,000 business leaders, investors, and policymakers to discuss strategies for driving economic transformation across the continent.

    The next edition of the annual Africa CEO Forum will be held in Kigali.

    The African Reinsurance Corporation (Africa Re) was named Pan-African Champion at the 2025 Africa CEO Forum Awards held on Monday night in Abidjan, Côte d’Ivoire.whatsapp_image_2025-05-15_at_8.58_18_am_1_.jpgThe award recognises Africa Re’s significant strides in expanding its footprint across the continent and positioning itself as a global player in the reinsurance sector.The Africa CEO Forum Awards, organised in partnership with the International Finance Corporation (IFC) and Forvis Mazars, celebrate leadership, innovation, and excellence within Africa’s private sector.

  • Qatar Airways inks 210-jet deal with Boeing during Trump visit

    The deal, valued at $96 billion according to the White House, includes Boeing’s 777X and 787 Dreamliner models powered by GE Aerospace engines.

    The agreement was formalised at a signing ceremony in Doha attended by Trump, Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani, Boeing CEO Kelly Ortberg, and Qatar Airways CEO Badr Mohammed Al-Meer.

    Trump, who is on a regional tour of Gulf states, hailed the deal as “the largest jet order in Boeing’s history.”

    While the exact breakdown of the aircraft types and the number of firm versus optional orders remains unclear, the deal represents a significant commitment from Qatar Airways, which already operates one of the world’s largest fleets of Boeing widebody jets.

    Qatar Airways has continued to expand its global footprint in recent years. In October 2021, the airline signed a codeshare agreement with RwandAir, deepening its presence in Africa and strengthening connectivity between Kigali and global destinations.

    The move is also a blow to rival Airbus, whose A350 model has struggled in the Gulf’s hot climate, with ongoing maintenance issues related to Rolls-Royce engines.

    Qatar opted for GE Aerospace’s GEnx engines for the 787s and the GE9X for the 777X, the only engine currently certified for that aircraft. GE Aerospace described the deal as its largest-ever widebody engine agreement.

    The timing of the announcement highlights the strategic importance of the deal for both Trump and Boeing. For Trump, it adds to a series of economic announcements linked to his Gulf tour, which also included trade agreements with Saudi Arabia.

    For Boeing, the order comes at a time when the company is working to recover from significant setbacks, including manufacturing delays, safety concerns, and a lengthy strike by workers that affected output.

    The Qatar Airways deal is also expected to support an estimated 154,000 U.S. jobs annually throughout the production cycle, according to the White House.

    U.S. President Donald Trump, Qatar's Emir Tamim bin Hamad Al Thani and Boeing CEO Kelly Ortberg attend a signing ceremony in Doha, Qatar, May 14, 2025.U.S. President Donald Trump shakes hands with Boeing CEO Kelly Ortberg next to Qatar's Emir Tamim bin Hamad Al Thani, ahead of a state dinner at Lusail Palace in Lusail, Qatar, May 14, 2025.The Boeing 777X is the latest series of the long-range, wide-body, twin-engine jetliners in the Boeing 777 family from Boeing Commercial Airplanes.

  • “Ese mbaze nde?”: A survivor’s cry, a nation’s mirror

    One such masterpiece is the song “Ese Mbaze nde?” (“Who Can I Ask?”) composed in early 1996, a year and a half after the Genocide Against the Tutsi had ended.

    It is not simply a song; it is a cry, a scream through melody, a lamentation rooted in the language of exile and anguish.

    It is a spiritual reckoning with the ungraspable: how does a person live after death has passed so close and so thoroughly?

    Only a few artists in the world have ever captured such depths of human tragedy with such nonphysical precision. Mariya Yohana Mukankuranga is one; Nyiranyamibwa is the other.

    Both women, now octogenarians, are custodians of memory. In her lyrics, Suzanne doesn’t just speak about survivors; she speaks as the survivor.

    She embodies them. Her voice rises with their pain, and sinks with their loneliness. Her art is sacred.

    The flute that opens “Ese Mbaze nde?” is not ornamental. It is the sound of loneliness, of a silence so deep it makes the trees weep.

    And when Nyiranyamibwa begins with the elongated cry, “Ayiiii!” followed by “Ngire nte?” (“How and what can I do?”), it is not a rhetorical question. It is a question thrown into the void.

    In Rwandan tradition, “Ngire nte?” was the second question in a divinatory ritual, meant to help the sufferer discover what sin or misfortune had brought about calamity.

    But for the survivor of genocide, there is no diviner, no answer, and no one to ask.

    “Ese Mbaze nde?” — Who can I ask? Who remains to be my mirror, to bear witness to my loss? The answer is immediate and gut-wrenching: “Uwo nabajije atakiriho” — The one I should ask is no longer here.

    In one breath, Suzanne reminds us that genocide is not only the destruction of lives, but the obliteration of continuity.

    The murder of grandparents, parents, and children is not only physical. It is genealogical.

    A child grows up with no picture of their mother, no memory of their father’s voice, no village to return to.

    “I enter Rwanda and no longer recognize anything,

    It’s as if its heart has been torn out.

    I’m dazed, disoriented, as if emptied of meaning,

    Then my chest tightens as if I were breastfeeding but I’m not, ayiweeeee.”

    This stanza, drawn from deep spiritual trauma, is a psalm of dislocation. A woman who had fled in exile returns to find a Rwanda that resembles a body with no soul. It is a corpse of a country.

    The metaphor of a breast tightening though not breastfeeding evokes phantom pain—a mourning of what should have been: children to hold, to feed, to raise. The pain lingers, even in absence.

    “When I came out, there were no birds… There was sunshine and the stench of death.”

    These are the words of a survivor quoted in the introduction of a book Leave None to Tell the Story, a title borrowed from the genocidaires’ own terrifying boast: “Ntihazagire n’uwo kubara inkuru.”—“Leave none to tell the story.”

    It was not just a threat; it was an instruction—an apocalyptic order to erase an entire people and ensure silence.

    It is in that scorched silence that genocide denial aggravates. And those who deny the genocide against the Tutsi, or who minimize its gravity, are not merely mistaken—they are complicit.

    They are grave-diggers in another sense: they bury truth.

    Suzanne Nyiranyamibwa’s powerful 1996 lament, “Ese Mbaze Nde?” (“Who Can I Ask?”), echoes through the ashes of a people nearly annihilated.

    She returned to Rwanda after the genocide and found a place unrecognizable: hills once alive now quieted by massacre, churches transformed into charnel houses, paths overgrown as though ashamed to lead anywhere.

    Her song asks what every survivor has silently screamed: Where do I go with this grief?

    Who is left to answer? And now, even as survivors sing, we find voices—scholars, bloggers, YouTubers, exiles like Jambo Asbl, Christine Coleman, Claude Gatebuke or Gaspar Musabyimana—who twist the facts, ridicule the pain, and cloak hatred in intellectual varnish.

    They, too, would wish to leave none to tell the story—not with machetes, but with falsehoods.

    There is no moral distance between the hand that wields the blade and the mouth that justifies its swing.

    Nyiranyamibwa’s song transitions from personal lament to collective eulogy:

    “All the paths have been invaded by the bushland,

    The beautiful hills of yesteryear are now covered with ruins,

    Where the children used to play, vultures are now chillers, ayiii.”

    This is poetry born of horror. The metaphor of the land itself decaying parallels the withering of communal life.

    The beloved Rwanda of memory is swallowed by overgrown bushes and haunted by scavengers. Hills that once echoed with children’s laughter now echo with cries of orphans.

    “The crying of the orphans will keep you awake,

    The mother who gave birth is forever reduced to a life without children.

    So many widows are sick with their unspeakable grief, ayiiiiii.”

    To those who survived, the world is not silent. It is filled with cries that pierce the night. Grief has become a second skin.

    A mother without children is an empty vessel, a universe collapsed into silence. An orphan with no one to call “Mama” or “Papa” is a thread torn from the fabric of ancestry.

    Nyiranyamibwa doesn’t shy away from the grotesque reality of the genocide:

    “God’s churches are overflowing with corpses,

    The country is swarming with mines,

    When you survive the night, you’re never sure you’ll survive the day, ayiweeee.”

    It is a theology of abandonment. The sanctuaries became slaughterhouses. Places meant for prayer became tombs.

    The listener can feel the despair of someone who questions even the basic rhythm of time: night and day, safety and danger.

    Nothing can be trusted. This is what it means to survive trauma: waking up is a betrayal of those who did not.

    Nyiranyamibwa turns the focus sharply to the evil that was unleashed:

    “They drove human beings like they were beasts,

    Leading them to their death, these villains

    Having decreed that being Tutsi is an absolute crime, ayiweeee.”

    The song reminds us that the crime of genocide is not simply the act of killing. It is the redefinition of a person as a problem to be solved by death.

    The Tutsi were dehumanized, turned into an infection to be purged. Nyiranyamibwa reminds us of the cruelty with which this ideology was carried out:

    “Any Hutu who didn’t kill didn’t deserve to live,

    Declared an accomplice of the Inkotanyi, he deserved to die,

    Few in his family have escaped death.”

    This rhyme dismantles the false binary often peddled by genocide deniers: that it was a war. It was not.

    It was a meticulously planned extermination, so complete in its cruelty that even dissenters from the killing side were declared enemies.

    “They (the killers) had fun at their expense while they were only clothed in shame.

    They dispossessed them of everything on the hills,

    It was like the Way of the Cross to Golgotha.”

    The use of Christian imagery, though not really accurate, is deliberate. Rwanda, seen as a deeply religious country, saw its churches turned into Golgothas.

    Nyiranyamibwa evokes the crucifixion as a way to depict the collective suffering of the Tutsi—humiliated, stripped of dignity, paraded toward death.

    “Anyone not killed with the machete perished by a small, worn-out hoe,

    You had to pay to get killed with a bullet,

    If you didn’t buy your death, you were cut up into pieces

    It was unthinkable, no one could ever have imagined it.”

    To pay for a bullet was considered a mercy—instead of being killed with a machete.

    What does it say about a world where the price of a humane death becomes a privilege? This song carries these realities with brutal honesty.

    And Nyiranyamibwa, having seen it, returns to Belgium after 1994 carrying not just her own grief but that of over a million.

    Her father, Phillip Karahamuheto, was killed in the 1963 anti-Tutsi pogroms. She had lived genocide before genocide.

    She was already mourning before 1994. Hers is a generational grief. And yet, she does not end in hatred.

    Suzanne Nyiranyamibwa ends her song not with vengeance, but with a profound call—a plea—to “fight hatred and resentment.”

    It is an act of courage to ask a shattered world to heal. But healing cannot coexist with denial.

    And those who deny the Genocide against the Tutsi—or dress up that denial in euphemism, revisionism, and false balance—inflict a second death upon the victims and a fresh wound upon the survivors.

    ‘Leave None to Tell the Story’ was not just a documentation of atrocities—it was a prophetic indictment.

    The genocidaires did not merely aim to kill people; they aimed to kill memory. That is why they desecrated bodies, crushed skulls, burned homes, and incinerated identity cards.

    That is why they chased pregnant women and infants. That is why they planned it in schools, in government offices, in churches.

    And that is why the title of the book stings: because survivors emerged from the graveyards alone, with no one left to ask, “Who were my parents? Where is my brother buried?

    Did anyone see my sister’s face before she was taken?” Nyiranyamibwa gave voice to that cry: “Ese mbaze nde?”

    Humanity must not entertain those who feign objectivity while playing host to denial. The world must not excuse ignorance that becomes ideology.

    Any sane person must not allow memory to be murdered a second time.

    To deny genocide—or to forget it, is to complete the mission of the killers.

    To distort truth is to swing the same machete—only now, at truth, at justice, and at the dignity of survivors.

    There is no innocence in silence.

    This is the principle of the survivor: not settling scores, but resistance through truth. This is moral clarity.

    Survivors are not asking for pity; they are commanding remembrance. They are not asking for vengeance; they are demanding accountability and justice.

    Nyiranyamibwa’s lament is not unique to her. It belongs to thousands who survived. Thousands who came out of hiding to find no one left.

    Who looked for the path home and found it overgrown. Who waited to hear the voice of a loved one and heard only silence.

    Children who now have no family name to pass on. Men and women who carry trauma in their bones.

    The cry “Ngire nte?” must echo through every Rwandan conscience. What do we do with this past? How do we honour it without being swallowed by it? How do we make “Never Again” more than a slogan?

    Nyiranyamibwa’s song feels like it inspired that title “Leave None to Tell the Story,”. She sings because there are some left to tell the story. She sings so we listen.

    Rwanda must never forget. The world must never forget. For if we do, we return to the abyss.

    Nyiranyamibwa sings not only to the past but also to the future. Her cry is not only retrospective; it is far-sighted.

    There are survivors today who still don’t know where their families are buried. Who don’t know the faces of their mothers, the voices of their fathers, or the smell of their homes.

    There are children born from rape, now grown, who ask, “Ese mbaze nde?” There are orphans who have become parents without ever being parented themselves. There are souls still wandering the ruins of memory.

    To sing is to defy oblivion. To remember is to heal. To grieve together is to rebuild what was meant to be destroyed.

    Nyiranyamibwa’s voice, cracked by time and grief, remains the most authentic sound of Rwanda’s conscience. May it echo through our politics, the churches and mosques, our classrooms, and our families.

    May her cry become our call to action. May her song be the anthem of every person who chooses love over hate, truth over denial, memory over silence.

    For we must ask ourselves, as a nation and as humanity:

    “Ese Mbaze nde?” Who can I ask?

    The answer, painful as it is, may very well be: You.

    You are left to tell the story. You are the one they must ask. You are the keeper of memory.

    Let the story never die. Let the silence never return. Let the music of truth ring louder than the drums of hate.

    Suzanne Nyiranyamibwa sang, and in doing so, she gave us the courage to answer:

    “Ngire nte?”

    Here is how: We remember. We protect the truth. We raise a generation that kneels before the sacred story of survival and stands up to say:

    Never again is not negotiable. Never again is now.

    Suzanne Nyiranyamibwa is one of those rare voices still preserved to remind Rwanda and the world what it means to survive the unspeakable.

  • Real estate expert Charles Haba weighs in on Kigali’s soaring property prices, housing gaps

    In a recent episode of the Long Form Podcast, Haba unpacked the forces driving Kigali’s property surge and the challenges of delivering homes for the city’s middle- and low-income earners.

    Kigali’s property prices have soared, undeterred even by the COVID-19 pandemic, fueled by a staggering demand for housing.

    Haba cited city statistics showing a need for 183,000 housing units, up from 34,000 just five years ago, driven by rural-to-urban migration, rising incomes, and the city’s expansion into areas like Kabuga. Yet, supply lags far behind, with fewer than 1,000 units built annually against a yearly need of 34,000.

    “Because the supply is trying to catch up with an ever-growing demand, we are not about to see that bubble anytime soon,” Haba said, dismissing fears of a market crash.

    The boom is most visible in high-end neighbourhoods like Nyarutarama and Gacuriro, where developers are erecting luxury apartments and commercial spaces. However, Haba emphasised that this masks a critical shortfall: the greatest demand lies in affordable and middle-income housing, segments developers often avoid.

    Haba explained that building affordable homes is “not worth the headache” for private developers. High land costs, expensive financing—often at 15% interest or more—and slim profit margins deter investment in low-cost housing.

    “If it’s going to cost you RWF 45 million to build a house and the market is telling you to sell it at RWF 46 million, you’ll just not do it,” he said.

    Instead, developers target wealthier buyers, where margins are higher and demand remains strong, leaving low-income earners struggling to find decent rentals.

    The disparity has created a stark divide. While bare hills in areas like Bumbogo and Masaka signal untapped potential, private investment remains concentrated in affluent zones. Haba noted that this trend mirrors regional patterns, where developers shift to affordable housing only when higher-end markets saturate—a stage Kigali has yet to reach.

    Compounding the affordability crisis is the increasing practice of landlords pricing rentals in U.S. dollars, a trend Haba links to inflation concerns.

    “Almost all business people… will cushion themselves against inflation or rising prices… either to mark up significantly or to dollarize whatever good or service that they are selling,” he noted.

    This practice, despite being illegal under Rwanda’s central bank regulations, burdens tenants, as landlords demand payments in dollars for homes previously priced in Rwandan francs.

    Haba criticised the informality of Kigali’s rental market, where many tenants lack tenancy agreements, leaving them vulnerable to arbitrary hikes. He urged renters to formalise contracts with clauses limiting rent increases, citing examples where agreements cap rises at 5% annually.

    Government steps in

    Recognising the private sector’s reluctance, the Rwandan government is taking action. Haba highlighted a forthcoming special purpose vehicle (SPV) under the Rwanda Housing Authority to build affordable rental housing, targeting low-income earners.

    Additionally, rehousing projects in Mpazi, Nyamirambo, and several other areas are densifying informal settlements, allowing residents to stay in urban areas with upgraded homes.

    “They don’t move them away. They build for them more densified housing,” Haba said, praising initiatives that place 10 homes on plots once holding two.

    Haba remains optimistic about Kigali’s market, buoyed by infrastructure like widespread tarmac roads and urban ambitions, including potential F1 hosting. However, he urged young Rwandans to invest in land, noting its 20-25% annual appreciation outpaces loan interest rates.

    Watch the full podcast below:

  • President Kagame holds talks with key investment partners at Africa CEO Forum

    President Kagame met with Amir Ben Yahmed, CEO of Jeune Afrique Media Group and co-organiser of the Africa CEO Forum 2025. Their discussions focused on the group’s growing partnership with Rwanda and preparations for the next edition of the forum, set to be held in Kigali.

    In a separate meeting, President Kagame held talks with Makhtar Diop, Managing Director of the International Finance Corporation (IFC). The two explored avenues to deepen cooperation, particularly in widening access to finance as a driver of inclusive economic growth and private sector development in Rwanda.

    President Kagame also met with Alain Ebobissé, CEO of Africa50, to discuss ongoing collaboration with Rwanda. The conversation touched on the mobilisation of private capital for infrastructure and development projects, a priority area in Rwanda’s economic strategy.

    On the sidelines of the forum, President Kagame also held bilateral discussions with President Mohamed Ould Ghazouani of Mauritania. The leaders discussed strengthening the growing ties between Rwanda and Mauritania, with a focus on mutually beneficial cooperation.

    He also met with President Alassane Ouattara of Côte d’Ivoire, host of this year’s Africa CEO Forum. The two Heads of State reaffirmed their commitment to deepening bilateral relations across multiple sectors.

    Founded in 2012, the Africa CEO Forum has become a premier platform for public-private dialogue and cross-border investment in Africa.

    Speaking during a panel discussion at the forum alongside fellow Heads of State, President Kagame emphasised that recent policy decisions by U.S. President Donald Trump, including the cutting of aid, should serve as a wake-up call for African leaders to intensify efforts towards self-reliance.

    “We should have been building momentum in terms of what we need to do to make Africa self-dependent and resilient, and how Africa works with other continents and countries,” said President Kagame, who was on a panel with South African President Cyril Ramaphosa and Mohamed Ould Ghazouani of Mauritania.

    “It is as well that President Trump decided to do what he did; if that was only to add to many other reminders that should wake us up as Africans to be able to do what we ought to do.”

    The annual forum, themed “Africa in a Transactional World: Can a New Deal between State and Private Sector Deliver the Continent a Winning Hand?”, has brought together over 2,000 business leaders, investors, and policymakers from across Africa and around the globe.

    President Kagame met with Amir Ben Yahmed, CEO of Jeune Afrique Media Group and co-organiser of the Africa CEO Forum 2025.President Kagame held talks with Makhtar Diop, Managing Director of the International Finance Corporation (IFC).gqychscxyaawpxt.jpg

    Kagame and the IFC boss explored avenues to deepen cooperation, particularly in widening access to finance as a driver of inclusive economic growth and private sector development in Rwanda.
    President Kagame also met with Alain Ebobissé, CEO of Africa50, to discuss ongoing collaboration with Rwanda.President Kagame also met with President Alassane Ouattara of Côte d’Ivoire, host of this year’s Africa CEO Forum.On the sidelines of the forum, President Kagame also held bilateral discussions with President Mohamed Ould Ghazouani of Mauritania.

  • Ingredients giant Kerry opens first taste manufacturing facility in Rwanda

    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.

    (From left) Regis Manyange, Commercial Director for East Africa at Kerry; Jad Neaime, General Manager, Kerry Africa; Jill Clements, Deputy Head of Mission to Uganda and Rwanda at the Embassy of Ireland; and Belinda Kayihura, QSHE & Site Manager, Rwanda, Kerry, pictured during the launch of Kerry’s new taste manufacturing facility in Kigali.

  • RwandAir announces plans for new routes to Zanzibar and Mombasa

    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.

    RwandAir has announced plans for new routes to Zanzibar and MombasaThe CEO of RwandAir, Yvonne Makolo, has disclosed plans to roll out new strategies in response to service disruptions, including the Democratic Republic of Congo's (DRC) decision to block its airspace to the national carrier.

  • PM Ngirente urges regional collaboration to unlock aviation’s economic potential

    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.”

    Dr. Ngirente appealed for regional collaboration during the official opening of the 13th Aviation Stakeholders Convention at the Kigali Convention Centre on Monday, May 12, 2025.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.”gqvmcfhxsae0hb7.jpg