Category: Opinion

  • Rwanda honey wanted in Middle East,Europe

    By: Igihe.com Reporter

    Export opportunities await honey producers in Rwanda following the increasing demand of the country’s high quality honey on the international market.

    According to the Rwanda Bureau of Standards (RBS) Director General Dr. Mark Cyubahiro Bagabe, Rwanda honey is on high demand in big markets of the Middle East and Europe. “But the challenge is the low production volume”, he notes with concern.

    In response to increasing export, quality Dr. Bagabe reveals that, “RBS has adopted a multiple-pronged approach aimed at ensuring compliance of Rwandan honey with international Standards”.

    The Bureau has since offered training to local honey producers on the aspects of producing quality honey targeting the whole value chain. Currently RBS has certified five honey-processing companies and some are already exporting their products.

    Dr. Bagabe advises farmers to opt for high volume beehives that would increase quantity of honey produced. During harvesting, farmers are advised to avoid using smoke (smoke contains a chemical dioxin) feared to be a cancer agent(carcinogenic).

    Florida Uwamariya the Accounts administrator of Rwanda beekeeping services center has told Igihe.com, “Our sector has registered remarkable growth. Beekeepers are enjoying the fruits of their work and the sales volume has been ever increasing.”

    Uwamariya notes that honey quality improved after farmers received training in methods of safe extraction, post harvest honey management and packaging. “We are looking at how we can maintain hygiene and quality honey processing and setting up scale processing equipment to upgrade the quality standards and produce”, she said.

    The International demand for Rwanda honey is largely credited for its naturalness much of which comes from the country’s endowed forest and eco system. Uwamariya says that the demand for Rwanda honey is expected to boost incomes of women that are mainly involved in the honey sector.

  • Rwandans to gain from buying shares on stock market

    Introduced just less than five years ago, the Rwanda stock exchange market has excited many following the successful acquisition and profiting from Bralirwa shares. Bank of Kigali has revealed plans to issue an Initial Public Offering soon of which Rwandans are upbeat about…

    Robert Mathu, executive director of Capital Market Authority (CMA) has called upon Rwandans; especially the youth to embrace a savings culture most importantly through the acquisition of shares on the Rwanda Stock Exchange (RSE).

    A stock exchange is a marketplace for securities in the form of company shares and government bonds where the general public can acquire shares of a company at a specific fee per share. The shares fluctuate in value depending on the performance of the company.

    Recently Bralirwa, a brewery and soft drink company, sold its shares to the public for the first time; the new shareholders have seen their shares gain value by 62%. This has since encouraged the buying of shares on the stock exchange.

    The stock exchange market in Rwanda started in January 2008, preceded by Capital Markets Advisory Council (CMAC) setup in 2007 as a transitional body responsible for establishing a capital market in Rwanda and writing up regulations.

    CMAC has transformed into the current Capital Market Authority (CMA) a regulatory body of the Rwanda Stock Exchange (RSE).

    During its establishment, CMAC faced a challenge of finding Rwandan companies ready to sell shares on the new stock exchange. The government took the initiative to sell government bonds and set stage for private companies.

    Government bonds are a type of security issued by government, which pays back the money paid for the bond with interest after a certain period of time.

    While waiting for Rwandan companies to issue shares, CMAC ventured abroad. KCB and NMG, companies listed on the Nairobi Stock Exchange, were invited to sell their stock on the newly formed RSE. A company selling its stocks outside its original stock market is usually referred to as cross listing.

    Another major challenge was attracting foreign investors to invest in the RSE. The RSE started during the beginning of the global economic downturn, and foreign investors were cash-tight. Due to its underdevelopment, the RSE didn’t experience much repercussion from the global financial crisis.

    Mathu explains, “CMA is now working on implementing the legal framework and improving on investor protection.” A stock exchange just like any other marketplace needs regulation especially in protection of investors, who are essentially the buyers of securities.

    Mathu also stresses the need for transparency if the RSE is to mature into an efficient capital market. Transparency is especially needed in everyday transactions, transparency during transactions guarantees that sellers and buyers are given fair deals. Investors will be confident of the stock exchange if they see that it is fair and efficient.

    “We intend to introduce an electronic system within the next year. Such a system would improve on speed, transparency and efficiency.” Mathu said, explaining CMA’s future plans.

    The CMA in collaboration with stock brokers have embarked on an initiative aimed at educating the public about the stock exchange. Brokers act as middlemen between buyers and sellers on the stock exchange. As the RSE is still in its infancy, the Rwandan public needs to be educated on benefits accruing from investing on the stock exchange.

    “We have had to invest more time by meeting people on the streets explaining to them the benefits of capital market investments”, explained Shehzad Noordally, general manager of CDH Capital-Rwanda. CDH is a broker firm operating on the RSE.

    Bank of Kigali (BK) has revealed it will issue an Initial Public Offering (IPO) -financial jargon for selling new shares. The bank’s IPO may be another opportunity for Rwandans to make money on the stock exchange.

    BK’s IPO has caught attention of the people. There seems to be confidence for a successful IPO; much like that of Bralirwa, as was pointed out by Shehzad Noordally, “Many people made money from the Bralirwa IPO and have spoken to their friends. People will be happy to invest in the BK IPO.”

    Bank of Kigali hopes to use money from the IPO for small lending to customers, expanding more branches and electronic banking. The bank’s chief operating officer, Lawson Naibo, points out that the stock exchange is the best source for the bank to raise the funds for its projects.

    The stock exchange gives Rwandan businesses a new medium of acquiring cash for investment. The money invested on the stock exchange provides long term capital necessary for continual economic growth. The stock exchange is going to be crucial to maintain Rwanda’s economic growth.

    Increasing investment in the stock exchange by Rwandans will also boost Rwanda’s average income. Stockholders can earn an income through dividends paid out by companies.

    Rwanda has joined fellow EAC countries Kenya, Uganda and Tanzania in having a capital market. All regional stock exchanges have been around longer and are more active than the RSE-the Nairobi Stock Exchange being the most developed.

    The government’s privatisation scheme might see more companies issue shares on the RSE. The Bralirwa and upcoming BK IPO were triggered by the government selling off the shares it controlled in these companies.

    In the near future, the government might sell off more shares in other companies that will give Rwandans more investment options on the RSE. More IPOs may lead to more investment as Rwandans see the profits to be made on the stock exchange.

    Robert Mathu wants Rwandans to know that they can make money while helping build the economy through stock market investment.

  • Who is a Leopard in a Sheep’s skin?

    by Silver Bugingo

    I was reminiscing with a friend also a media practitioner as we analyzed the hottest news headlines in the recent past and our attentions coincided on Victiore Ingabire’s criminal trial and the arrest of criminal suspects, Colonel Norbert Ndererimana and five other co- accused in Kigali by national police.

    It’s indeed a coincidence! Imagine a criminal suspect at the rank of Colonel and head of an armed terrorists with five more co-accused in the rank and file of the FDLR group on a mission to blast bombs again?

    According to the Police Spokesman, Sup. Theos Badege through a police press release issued on June 21, the colonel’s alleged accomplices are Ramathan Sibomana, Ibrahim Niyonzima, Asifat Kansime, Emmanuel Higiro and John Mutabaruka.

    Apparently, all are armed militias who clandestinely crossed borders from their base with a criminal mission to blast grenades in Kigali. Subject to testimonies of suspects, their plans were committing terror acts in Rwanda from their bases- specifically from Binza, Rutchuru, in Virunga national park, North Kivu, Eastern DRC.

    The prime suspects now under the custody of police, voluntarily revealed to the entire Rwandans, on a live Radio-television news cast last night, that they targeted high populated areas, fuel storage facilities and fuel transport vehicles, national leaders as well as diplomats in Kigali.

    This incident happens at a time the controversial leader of yet to be registered FDU-Ikingi political party and terrorist suspect, Ingabire has finally been granted her plea to postpone the beginning of her trial to September, on grounds that her defense team needed more time to extensively study he dossier.Owing to the fact two of her lawyers are foreigners, the documents also had to be translated into English as all have been prepared in Kinyarwanda.

    Of course these are logical grounds upon which any accused cannot be denied time to prepare his or her defense. After all, in principle and practice, the accused are presumed innocent until proved guilty beyond reasonable doubt by a competent court.

    For new readers in and out of Rwanda not conversant with this subject, Ingabire has among many serious charges been accused of promoting ethnic divisionism, setting up of a terrorist organization and collaborating and financing the Rwandan FDLR rebels in the Eastern Democratic Republic of Congo.

    She had been living Europe since the 1994 Rwandan genocide but came back late 2009 with a political ambition to vie for the post of president against the incumbent President Paul Kagame in the recently concluded presidential elections held August last year.

    She wanted to be elected under the auspices of FDU-Inkingi political party. But like anywhere in the world, genuine political ambitions must be pursued within the confines of the law and the reason her political party has never been registered is unquestionable.

    The fact she allegedly helped create terrorist groups threatening national security and public order put her ambitions in question. I say “allegedly” because the onus is still on prosecution’s team to prove her guilty on all or any of the criminal charges.

    What broadens Ingabire’s case is a likely relation with the new terrorist group, besides her co-accused Lt. Col.Vital Uwumuremyi, Lt. Col.Noel Habiyaremye, Lt.Col. Tharcisse Nditurende and Capt. Jean Marie Karuta, that also belong to the same FDLR.

    Like the recent ones, Lt. Col.Uwumuremyi and company that were arrested last year confessed to be close associates to the adventurous Ingabire. This did not and won’t surprise many as we eagerly await the conclusion by the courts of law.

    All I know for sure is that we are now under the rule of law; the courts are now a place anyone can go to seek justice, unlike in the past when there were a handful of judges, advocates and prosecutors who were qualified and experienced to administer justice in the interests of ordinary citizens.

    What sounds unique to me in yesterday’s confession by the arrested militias was the revelation that they received orders from renegade Generals Kayumba Nyamwasa, Patrick Karegeya and Emmanuel Habyarimana through Rwanda National Congress (RNC) and Convention National des Republicains (CNR) respectively to carryout terror attacks in Rwanda.

    To be honest dear readers, when the two former RPA renegade senior officers, Kayumba Nyamwasa and Patrick Karegeya were linked to the bomb blasts that claimed some innocent citizens in cold blood, I was among the many biblical “doubting Thomas’s”. Know why?

    I was so naïve to accept, later on believe that military officer in then Gen. Kayumba’s or Karegeya’s calibre would think of allying with genocidaires he took a key role in defeating during the 1994 liberation! But at the moment, my doubt has waned like a moon.

    It’s normal for comrades in the political arena to fall out due to disagreements in principle and practice and become arch-rivals in a democratic political competition. Yes, Ugandan President Gen. Yoweri Museveni fell out with his former guerilla combatant and personal doctor Col. Dr Kiiza Besigye and Maj.Gen Mugisha Muntu the longest serving army commander it was normal and accepted as such.

    But it’s unbelievable and illogical to many, for such an elite senior officers of Kayumba’s calibre- a lawyer by profession and a freedom fighter to share interests with criminals who masterminded the most inhuman catastrophe that extinguished a million citizens of your own ethnic group moreover! So is there any difference between the renegades and the genocidaires?

    No wonder the two renegade freedom fighters-come-terrorists were convicted on almost all the criminal counts, sentenced to jail for decades and stripped-off the army ranks in absentia. It’s still their right to challenge the court decision and seek for judgment review but of course there’s a time limit for seeking case review or else we take them to be the biblical “leopards in a sheep’s skin.

    bugisr@yahoo.com

  • RSE market highlights as at 23 June

    Today the RSE recorded one transaction of 1,000 BRALIRWA shares traded at Rwf 220; the closing price for the last 5 trading days and the total turnover for the day was Rwf 220,000.

    BRALIRWA had the first Annual General Meeting (AGM) after going public last Tuesday, June 21st, 2011 and the company’s books were also closed on the same day. Dividends will be paid on July 21st, 2011.

    At the close of business, there were outstanding offers of 21,900 BRALIRWA shares at Rwf 220 and 2,100 KCB shares at
    Rwf 180 and no bids.

    KCB and NMG counters did not record any transaction today and their share prices remained unchanged from yesterday’s closing prices of Rwf 175 and Rwf 1200 respectively.

  • Ex. German President to invest in Rwanda

    The former German president Prof.Horst Köhler recently announced his intentions to invest in Rwanda inspired by the country’s sustainable development.

    “I have particularly chosen to invest in Rwanda because of the country’s sustainable development compared to other countries in the region,” Kohler noted while emphasizing that the proper investment atmosphere seen in Rwanda has motivated him and mobilised other German investors to consider investing in Rwanda.

    Köhler also met with President Paul Kagame at village urigwiro.

    According to Foreign Affairs Minister, Louise Mushikiwabo , the former German leader wants to contribute to the development in the region where Rwanda is located, “Kohler wants to know much about the ongoing regional integration and devise appropriate ways of partnering with the region’s investors”.

    Köhler of the Christian Democratic Union in German was first elected in May 2004 and was re-elected five years later in May 2009. He also led the International Monetary Fund (IMF).

    During his east African tour Köhler also a distinguished economist held high level round table discussion held to address East African Community (EAC) integration, under the theme “Ambition for and reality of the EAC in globalized world.

    Köhler said, “the EA Monetary Union will never happen in 2012 or anytime soon and the process should never be rushed,” he said, adding that if the project is to be executed carefully and practically, then the EAMU should happen in ten-years or so from now, that is if the European Union experience is anything to go by”.

    “We started negotiations in 1991 and the European Monetary Union only got established in 1999 and the single currency coins began rolling out in 2001, which means it was a decade-long process,” said the former German President.

  • RSE market highlights as of 21 June

    Today, the RSE did not record any transaction as brokers were bidding and offering at different prices. BRALIRWA shares closed the day at Rwf 220; unchanged from yesterday’s closing price.

    Yesterday, the total turnover was Rwf 2,524,000 not Rwf 2,820,000 as reported from 11,200 BRALIRWA shares traded in 3 transactions at Rwf 230 and Rwf 220. BRALIRWA shares are trading ex-dividend since Monday 13th June, 2011.

    The KCB and NMG counters did not record any transaction today and their share prices remained unchanged from yesterday’s closing prices of Rwf 175 and Rwf 1200 respectively.

    At the end of formal business hours, there was an outstanding bid of 10,000 BRALIRWA shares at Rwf 215 each and outstanding offers of 6,400 BRALIRWA shares and 1,900 BRALIRWA shares at Rwf 230 and Rwf 220 respectively. There
    was also an outstanding offer of 2,100 KCB shares at Rwf 180 each.

  • WDA trains hoteliers on customer care service

    Rwanda has been known for its infamously pitiable and pathetic customer service. Recently, however, enormous strides have been taken to improve comfort, luxury and service of hotels and restaurants countrywide, focusing on better delivery to customers.

    The Work force Development Authority (WDA) has been the driving force behind these commendable efforts which have contributed substantial positive feedback.

    The program has undertaken this challenge by training people on a nationwide aspect especially in areas such as Rusanzi, Rubavu and Kayonza districts.

    For the third time in Kigali, the weeklong training was categorized into four sections; front office, food and beverage service, housekeeping and culinary arts.

    Commenting on the lessons, Beatrice Mutoni, the curriculum facilitator noted that. “Among what we teach include all the skills encompassing customer care within the four domains that are housekeeping, culinary arts, front office and food and beverage service.”

    Yet much emphasis is put on culinary arts (cooking) module, food hygiene since they’re among the main basics that ensure better service.

    Edwinson Ndizeye, acting head of culinary arts says: “There have been numerous reporting of food poisoning and this is something that can easily be prevented if certain hygiene principles in the kitchen are emphasized and negligence reduced.

    Mutoni was also quick to point out that. “ We also teach many types of cooking methods such as the well celebrated “mise en place”method ,” she also added that, “many waiters make mistakes and are incredulous to certain things such as how to serve properly, the right way to address a customer, we cover all those fundamentals through what we teach,” Mutoni remarked.

    Customer care service in Rwandan hospitality is one element that has been identified to be lacking in areas that go beyond the skills – the general attitude of the service providers. Mutoni sheds some light on this mystery by pointing out the fact that employers are the ones that can considerably contribute to the improvement of this factor.

    “The receptionists, waiters and other service providers, in some cases work extremely long hours with an unsatisfactory remuneration, and these poor working conditions lead to negative attitudes and in the end, it’s the client that suffers.

    “Despite this obstacle, it is apparent that employees still need a major acquisition of skills and with the work of the WDA, there has been a major success.

    “Employers countrywide have appreciated the skills that we give to their employees , the knowledge they acquire soon becomes evident by the way services are improved, ” Mutoni said adding that, “positive feedback from employers can be seen with the recent increase in trainees that showed up in this month compared to April.”

    Alex Munyaneza , acting head of hospitality unit highlighted that, “this time around we received a surplus of trainees ( a total of 168 )from owners of hotels and restaurants who were more than eager to have their staff employed for a better and efficient service provision”

    This affirmative and optimistic response wasn’t only seen with the employers but the employees themselves. Vincent Gakwaya , a waiter from Sky Hotel noted that. “This training has really taught us much and we feel that with these new skills, we shall be operating more efficiently and better”.

    Gilbert Kiza also sided with Gakwaya adding that. “With these new skills we feel that we are better prepared to face the day-to-day challenges in our duties as restaurant waiters.”

  • RSE market highlights as of 20 June

    Today, the RSE remained in the same trading range as far as prices are concerned but went up in volume.

    BRALIRWA shares closed unchanged from last week’s closing price of Rwf 220. A total turnover Rwf 2, 820,000 was recorded from 11,200 BRALIRWA shares transacted in 3 deals at Rwf 230 and Rwf 220.

    The KCB and NMG counters did not record any transaction today and their share prices remained unchanged from last week’s closing prices of Rwf 175 and Rwf 1200 respectively.

    At the end of formal business hours, there was an outstanding bid of 10,000 BRALIRWA shares at Rwf 215 each and outstanding offers of 32,000 BRALIRWA shares and 21,900 BRALIRWA shares at Rwf 230 and Rwf 220 respectively.
    There was also an outstanding offer of 2,100 KCB shares at Rwf 180 eac

  • urban inflation dips to 4.54 pct

    Falling food prices in May helped slow the inflation rate in Rwanda’s urban centres for the first time in seven months to 4.54 percent, official data showed on Thursday.

    The National Institute of Statistics of Rwanda said the country’s urban consumer price index rose less than 0.1 percent in May from a month earlier as a 0.92 percent fall in food and non-alcoholic beverages prices was off-set by increases in the cost of transport and housing and utilities.

    “The increase in the consumer prices index … is attributable primarily to the increase in housing, water, electricity, gas and other fuels (0.73 percent) and Transport (0.87 percent),” the statistics office said in a statement.

    Year-on-year, food prices rose by 4.69 percent in urban areas.

    Rwanda’s overall inflation rate, which has a higher weighting for food, increased to 3.82 percent in May from 3.05 percent a month earlier.

    Rwanda has the lowest inflation rate within the five-nation East African Community trade bloc. Uganda has the highest inflation rate at 16.0 percent, followed by Kenya, Tanzania, Burundi and then Rwanda.

    Rwanda’s Finance Minister John Rwangombwa said in his budget last week he forecast inflation rising to about 7.5 percent this year. This story was first published by Reuters.

  • RSE market highlights as of 16 June 2011

    Today, the RSE traded higher in volume than yesterday but went slightly down in price. BRALIRWA shares traded at Rwf 230 and Rwf 220 and closed at Rwf 220; a decrease of 2% from yesterday’s closing price of Rwf 225.

    A total turnover Rwf 2,333,000 was recorded from 10,600 BRALIRWA shares transacted in 5 deals.BRALIRWA shares are trading ex-dividend since Monday 14 June, 2011.

    The KCB and NMG counters did not record any transaction today and their share prices remained unchanged from yesterday’s closing prices of Rwf 175 and Rwf 1200 respectively.

    At the end business, there were outstanding bids of 5,000 BRALIRWA shares and 10,000 BRALIRWA shares at Rwf 216 and Rwf 215 respectively. There were also outstanding offers of 6,900 BRALIRWA shares at Rwf 225 and 47,300
    BRALIRWA shares at Rwf 226 each. On the other hand, there were outstanding offers of 2,100 KCB shares at Rwf 180 each.