Category: Opinion

  • The ultra selfish Armstrong

    Recent days, people all over the world are busy clearing the debris from the earthquake of “Executive Orders” and embracing for more afterquakes.

    These Orders, simply and joyfully signed by a certain country, are shocking the entire globe. From freeze of assistance, to raising of tariffs, to relocating of overseas Diasporas, by tens of thousands and possibly more, from this country and the continent. People are worried and resented. But the best can be done is to oblige and pray.

    The administration that signed those orders, is successful in keeping this continent at arm’s length when coming to aid and assistance.In the mean time, according to a member of this country’s Congress, its foreign aid money may have been used to fund terrorist groups around the world, including Boko Haram.

    The administration is successful, in flip-flopping, time and again, international pledges its country solemnly made.This time by withdrawing from WHO and the Paris Climate Agreement, and counting. This is nothing short of rolling back the wheel of history. And the argument used? The world owes this Administration and the country it represents.

    The administration is successful, in coining new words like MAGA.What do people see in it? Half lamentation, half echo of the past, half menace of the future.

    Far too long, the administration and the country it represents, is viewed by many as a beacon, a lighthouse. It compels nations, on pain of extinction, to adopt to its modality; it compels them to introduce what it calls democratic civilization into their midst. In short, it wants to create a world after its own image.

    People are reckoning, and awakening.The illusion of beacon have been drowned into the icy water of the country’s egotistical calculation. High falutin phrases like human rights and democracy are but its masquerade of hypocrisy and double standard.

    People disdain to conceal their views. Name of the country? The Ultra Selfish Armstrong.The writing is on the wall.

    (The author, Gang Ping is a commentator on international affairs, writing regularly for Xinhua News, Global Times, China Daily, CGTN etc. He can be reached at gangping1a2@gmail.com.)

  • Rwanda mulls empowering local garment manufacturers to achieve self-sufficiency

    Since 2017, Rwanda has moved away from importing second-hand clothing, commonly known as ‘caguwa,’ and has instead focused on promoting the production of new, locally made garments.

    Many local garment factories now purchase fabric from various countries and transform it into finished products for both the domestic and international markets.

    However, some Rwandans perceive these locally produced garments as expensive, with a pair of pants and a shirt labeled ‘Made in Rwanda’ often costing up to 50,000 Rwandan Francs or more.

    Despite this challenge, statistics show a significant growth in the output of Rwanda’s garment and leather industries, with production increasing fivefold from 34 billion Rwandan Francs (Rwf) in 2017 to Rwf154 billion in 2024.

    As he addressed the issue on March 28, during a session with Parliament, Prime Minister Dr. Edouard Ngirente highlighted the critical role these industries play in the country’s economic development and their contribution to increasing exports.

    “We do not have enough locally produced clothing, and so we must work harder to ensure that the garment industries can meet the needs of all Rwandans at an affordable price,” Dr. Ngirente emphasized.

    He added, “Our goal is to dress all Rwandans. We eliminated second-hand clothes so that Rwandans stop wearing outdated garments. The aim is to offer affordable clothing that people can buy without resorting to second-hand options.”

    Strengthening local textile manufacturing

    Dr. Ngirente further explained that during a Cabinet meeting on March 26, 2025, the government discussed strategies to enhance the local textile industry, with the objective of making fabric more accessible to tailors within the country.

    He noted that UTEXRWA, which used to be the only textile factory, has been producing fabric and selling it to local and international garment manufacturers. However, many of those working in the garment industry still rely on importing fabric.

    “Most garment manufacturers rely on imported fabric. During our recent government meeting, we explored ways to support local textile industries. This includes providing additional resources to businesses already in operation and supporting new entrants into the sector so that we can start producing fabric here in Rwanda,” Dr. Ngirente stated.

    He confirmed that this initiative would soon be rolled out, enabling local tailors to source fabric domestically. The government also plans to help industry investors secure markets, further integrating Rwanda’s garment sector into the country’s broader economic development plans.

    In addition, plans are underway to establish a factory in Musanze that will produce essential materials for the metal industry. Meanwhile, a leather processing factory is being set up in Bugesera. This facility will not only produce leather goods, including shoes, bags, and belts, but is also expected to generate $430 million annually for the country.

    Many local garment factories now purchase fabric from various countries and transform it into finished products.The Rwandan government is ramping up efforts to strengthen its domestic garment manufacturing sector, with the goal of increasing the percentage of Rwandans wearing locally produced clothing from 5% to 100%.

  • Rwandans spent Frw 512 billion on travel abroad in 2024

    The findings are based on the Travel Expenditure Survey (TES), which provides a comprehensive analysis of outbound travel spending by Rwandans.

    The TES, conducted from November 1, 2024, to January 30, 2025, analyzed travel expenses across major expenditure categories such as accommodation, food and beverages, transportation, shopping, entertainment, sightseeing, education-related expenses, and health-related expenses, excluding international transportation costs.

    In the fourth quarter of 2024 alone, Rwandan travelers spent approximately $91.0 million on travel services. Business travel was a major contributor to this figure, with expenses amounting to $36.3 million in Q4.

    Travel Behavior and Spending Patterns

    The TES report provides deeper insights into the travel behaviors of Rwandan residents abroad, including the length of stay and average daily expenditure.

    Rwandans traveling by air for education stayed the longest, with an average of 323 nights in North America, 317 nights in Europe, and 281 nights in Asia. Business travelers typically stayed between 8 and 14 nights, depending on the destination.

    Health-related travel had varying durations, with the longest stays recorded in Europe (79 nights) and the EAC (18 nights). For land travelers, those studying in the EAC stayed an average of 129 nights, while business travelers stayed around 7 nights.

    Rwandans traveling by air for health-related reasons had the highest daily spending, particularly in the rest of Africa ($249) and Asia ($164). Holiday travelers spent $193 per day in Asia and $134 in Europe, while business travelers had an average daily expense ranging from $100 in the EAC to $154 in North America. By land, Rwandan business travelers spent significantly less, averaging $10 per day in the EAC and $6 in the rest of Africa.

    In Q4 2024, a total of 56,324 Rwandans returned from international trips by air, while 339,110 returned by land. The majority of air travelers were from the EAC (25,279), followed by Europe (699) and the rest of Africa (1,234). Among land travelers, the EAC dominated, with 169,786 business travelers and 160,461 visiting friends and relatives.

    While Rwandans spent significantly on travel abroad, the report also highlighted the economic benefits of foreign visitors to Rwanda. In 2024, foreign visitors injected over $579.5 million (approximately Rwf 816 billion) into the country’s economy through expenditures on various goods and services.

    According to the study, visitors to Rwanda spent approximately $126.1 million in Q4 2024, with holiday travelers contributing $56.2 million to this total. The analysis of visitor spending patterns showed that tourists arriving by air accounted for 81.1% of total visitor expenditures, while those entering via land borders contributed the remaining amount.

    Foreign visitors’ spending varied based on origin and mode of travel. Air travelers from Asia had the highest average daily expenditure at $197 per person, followed by those from North America and other African countries at $151 per day.

    European visitors spent an average of $129 daily, while East African visitors had the lowest daily expenditure at $82. For land travelers, North Americans on holiday spent an average of $146 per day, while visitors from Asia and Europe spent $109 and $100 per day, respectively.

    The report’s findings provide crucial data to guide strategic decisions in the tourism and travel sectors, ensuring that Rwanda maximizes both inbound and outbound economic activities in a sustainable manner.

    Rwandan residents spent 3.8 million (RWF 512 billion) on international travel in 2024, according to data from the National Institute of Statistics of Rwanda (NISR).

  • Rwanda-Belgium: Echoes of a tragic past and current diplomatic challenges

    Since the end of the 1994 Genocide against the Tutsi, Rwanda has sought to build a new nation on foundations of reconciliation, making it even more important to question the repercussions of history.

    This exposé examines the delicate dynamics that have led Belgium to position itself against Rwanda and to support the Democratic Republic of the Congo (DRC), while exploring the lessons to be learned from past atrocities.

    Belgium and its dark past

    It is not an exaggeration to say that Belgium, with its colonial past and involvement in the Genocide against the Tutsi, bears a heavy responsibility. The complicity of certain Belgian decision-makers at the time contributed to the instability in Rwanda.

    The actions of these actors allowed extreme violence to flourish, fueling divisions and facilitating a genocide that claimed the lives of over one million people.

    The belated acknowledgment of these mistakes by Belgium, illustrated by the apologies offered by Prime Minister Guy Verhofstadt in 2000, remains emblematic of a profound disconnect.

    While laudable, this gesture has often been perceived as an attempt to shed responsibilities without confronting the reality: the absence of genuine accountability for those who orchestrated or facilitated these atrocities.

    Contemporary politics and Rwanda’s reaction

    In this context, Belgium’s recent decision to openly support the DRC after the release of Jean-Jacques Wondo, a Belgian citizen wrongfully sentenced to death by Congolese military courts, raises questions about the motivations and priorities of Belgian diplomacy.

    This turnaround could be interpreted as a sign of bias, reflecting a willingness to distance itself from Rwanda, despite ongoing criticisms of Félix Tshisekedi’s governance.

    Diplomatic meetings between the Belgian Foreign Minister and the Congolese President, without a corresponding engagement with Rwandan President Paul Kagame, reinforce the notion of a bias rather than a neutral approach.

    This dynamic underscores the complexity of national interests at play and the impact that historical relationships can have on current policies.

    The need for a war crimes tribunal

    It is essential to address the issue of impunity surrounding genocide crimes and the acts of complicity that facilitated them. While judicial initiatives have been implemented to prosecute certain perpetrators, the lack of trials for the actual facilitators remains a stain on the international conscience.

    The establishment of a specific international tribunal to address these crimes could represent a crucial step toward justice, allowing for greater acknowledgment of victims and a better understanding of the responsibilities of the involved nations.

    The relations between Rwanda and Belgium, scarred by the wounds of a tragic past, demand a sincere, honest, and informed approach. It is crucial to recognize the mistakes of yesterday while seeking today’s challenges.

    Rwanda, as a resilient nation, deserves not only recognition of its struggles but also a genuine partnership based on mutual respect and justice. It is time for memories to transcend passive recollection and become the foundation for building a different future for all who have suffered, as well as for future generations.
    Jean-Pierre Peeters, the author.

  • A bosom friend afar brings a distant land near

    Together, we have drawn a magnificent historical picture of China-Rwanda friendship. At the land of a thousand hills, I have truly felt the deep friendship between the Chinese and Rwandan people, and witnessed the boundless possibilities and vitality of Rwanda. As I am about to leave, I am filled with nostalgia to this land and confidence about a brighter future of China-Rwanda relationship.

    Amb. Wang presenting his credential to H.E. President Paul Kagame

    As we are marching towards the 54th anniversary of the establishment of diplomatic relations between China and Rwanda, our bilateral ties, stronger and closer than ever before, have featured deepened political mutual trust, flourishing practical cooperation and closer people-to-people exchanges. The high level bilateral relationship has brought tangible benefits to the two countries and our peoples.

    President Xi met with President Kagame during the FOCAC Beijing Summit in 2024

    Ushering in a remarkable new chapter of China-Rwanda relationship through head-of-state diplomacy

    In recent years, H.E.President Xi Jinping and H.E. President Paul Kagame have maintained close exchanges, strategically guiding the bilateral relations. In September 2024, I had the honor to welcome President Kagame to attend the Beijing Summit of the Forum on China-Africa Cooperation and witness the successful meeting between the two Presidents.

    The two Heads of States elevated bilateral relations to a comprehensive strategic partnership, marking a new milestone in China-Rwanda friendship. The two countries issued a joint statement on the implementation of the three Global Initiatives, injecting new momentum to bilateral cooperation.

    Both sides reiterated commitment to mutual support on issues of core interests and major concern, on opposing external interference in each other’s internal affairs and on each other’s independent development paths suited to national realities.

    Rwanda reaffirmed its consistent adherence to the one-China principle, which recognizes Taiwan as an inalienable part of China’s territory. China reaffirmed its firm support to Rwanda in safeguarding national solidarity, and combating genocidal ideology and hate speech in all forms. The two sides will continue to support each other in bilateral and multilateral affairs.

    Amb. Wang together with H.E. President Paul Kagame inaugurated AnJia Cement Factory

    Consolidating the sound foundation of China-Rwanda relationship through inter-party exchanges

    The two ruling parties, the Communist Party of China (CPC) and the Rwandan Patriotic Front (RPF), both enjoy strong leadership and governance prowess, and share similar missions. We both uphold the people-centered approach to governance.

    We both implement consultation-based, consensus-seeking democracy with its own characteristics. The two parties have built profound friendship over the years. We have conducted close exchanges and cooperation at all levels and on various fronts.

    At the invitation of the Rwandan side, three CPC delegations have visited Rwanda in the past two years to attend major political events, such as the inauguration ceremony of President Kagame for his fourth term and the commemoration the 30th anniversary of the Genocide against the Tutsi, which reflects the brotherhood of the two parties.

    Amb. Wang joined Umuganda activity

    Boost a mutually beneficial partnership through economic and trade cooperation

    Under the framework of the Belt and Road Initiative, the two countries can share the huge potential and opportunities the markets offer, leading to rapid growth in bilateral trade volume. China is Rwanda’s top trading and investment partner.

    In recent years, benchmark projects, supported by the Chinese government, have achieved steady progress, such as the renovation and expansion of the Masaka Hospital, the Nyabarongo Hydropower Plant II, and the Smart Education project. Construction is set to start for the 10-kilometer road from Prince House to Masaka.

    The Juncao mushroom technology has helped alleviate poverty in Rwanda and boosted nutrition for local families, which has been recognized by all stakeholders including the United Nations. Many Chinese enterprises have taken root in Rwanda’s investment landscape.

    In August 2023, President Kagame attended the production kick-off ceremony of Anjia Prefabricated Construction Rwanda Company Ltd., a Chinese invested cement factory, which has boosted the production capacity of cement in Rwanda.

    In recent years, Chinese companies have established and invested in a number of local factories in Rwanda, including jacket and shoes manufacturers as well as detergent makers, which have helped generate employment opportunities and income for local communities, accelerating Rwanda’s socioeconomic development and industrialization.

    In return, Rwandan companies have made their presence to China’s super-large market, taking their products to high-level platforms including the China International Import Expo and the Guangdong Canton Fair. Made-in-Rwanda products, such as coffee, tea, dried chili, honey, have been successfully marketed to Chinese consumers, increasing their visibility in China.

    30 Rwandan students went to study in China under the Joint Training Program Between IPRC Musanze and Jinhua Vocational Technolog

    Building an everlasting friendship through closer people-to-people exchanges

    Amity between the peoples holds key to sound China-Rwanda relations. Cultural and people-to-people exchanges have had plenty highlights to offer in the past years. For example, Jinhua and Musanze became the first ever pair of sister cities between the two countries, opening a new chapter in local exchanges and cooperation.

    Young students at IPRC Musanze are empowered to find their dream jobs thanks to the “Chinese plus vocational skills” training offered by the Luban workshop based in the college.

    The Hong Kong Polytechnic University has delivered service learning project in Rwanda for more than a decade. They helped install solar power generation systems for farmers in remote villages in the Eastern Province of Rwanda, and empower local women by conducting fashion design training, etc.

    In the past three years, around 200 Rwandan students have received Chinese government scholarships. A total of nearly 2,000 Rwandan students are studying in China. The Confucius Institute at the University of Rwanda has trained more than 5,000 students to learn Chinese and Chinese culture.

    In 2024, Rwandan students achieved historically best performance in the “Chinese Bridge” Chinese Proficiency Competitions, in which Rwandan contestants entered the top 30 in the world and the top 7 in Africa for the first time. During my stay in Rwanda, I have enjoyed to engage with the local communities.

    I led Chinese diplomats to join Umuganda, Car-Free Day Walking and Peace Marathon. I supported the Chinese medical teams to deliver free clinic services, conducted field research, and sat with my Rwandan friends to hear their stories with China. It is fair to say, the foundation of China-Rwanda friendship was laid by the peoples, and it is and will be further enhanced by the peoples.

    Rwandan student won the first prize in the PLC Application Technology category of the 9th Africa Tech Challenge Season in 2024

    A bosom friend afar brings a distant land near. As the Chinese ambassador to Rwanda, I have been asked many times about why China-Rwanda relationship is so successful despite the great geographical distance. The most important reason, I think, is that China and Rwanda share similar histories and experiences which enable us to understand and support each other. We both believe in self-reliance.

    We are both steadfast on the development path that suits our own national realities. We are both striving to achieve national modernization. And we both cherish familial bond, history, cultural heritage and the unique national identity they bestowed to us. No matter how the international landscape evolves, the two countries will always respect and support each other on issues of core interests, and develop bilateral relations on the basis of equality, mutual respect and trust, as well as win-win partnership.

    My story in Rwanda in the past three years, is just an epitome of the earnest friendship between China and Rwanda, which is higher than mountains. As I’m drawing a period to my tour of duty here, I would like to thank so many friends here that have supported me during this journey.

    First and foremost, my deepest gratitude goes to President Xi Jinping and President Kagame for their insightful guidance and support to China-Rwanda relations. My appreciation also goes to my brothers and sisters from the party, government, military, business, media and other fields for their valuable assistance to the Chinese Embassy and myself.

    I would also like to thank Chinese communities here for their contribution to the China-Rwanda friendship. Last but not least, my thanks go to my colleagues from the Embassy who have worked day and night with me. I hope that you will continue your good work to promote further growth of bilateral relations.

    The China Medical Team to Rwanda set up a free clinic for hernia at Masaka Hospital

    The decades-old Umuganda culture in Rwanda encourages joint efforts and mutual help for common goals. A Chinese saying conveys a similar message. It goes like, “People with one mind and heart have the power to move a mountain.”

    In a world of increasing inter-connection and inter-dependence, countries are faced with many unprecedented common challenges.

    It is important for China and Rwanda to join hands for mutual benefits and common development and to build a community with a shared future. I believe, under the leadership of President Xi Jinping and President Kagame, with the joint efforts of our two governments and peoples, China-Rwanda relations will embrace an even brighter future.

    Wish all the best to Rwanda. May prosperity, happiness and health always be with Rwandan people. May the friendship between China and Rwanda last forever and keep flourishing.

    The heartfelt message above was penned by Ambassador Wang Xuekun as he concludes his tour of duty in Rwanda, where he has served with dedication since May 2022.

  • Rwanda’s mineral export revenue hit $1.7 billion in 2024

    Dr. Ngirente shared the update on Friday, March 27, 2025, as he addressed members of parliament.

    He revealed that in 2024, Rwanda exported 2,384 tonnes of coltan, generating $99 million, while 4,861 tonnes of cassiterite earned $96 million. Wolfram exports stood at 2,741 tonnes, contributing $36 million, while gold remained the dominant mineral, generating $1.5 billion from 19,397 kilograms.

    The Prime Minister highlighted Rwanda’s ongoing efforts to boost mineral exports, particularly by shifting focus to processed minerals since 2020. He dismissed claims that Rwanda has limited mineral deposits, stating that resources are spread across different parts of the country.

    Dr. Ngirente attributed the increase in mineral exports to four key factors, including the modernisation of mining operations, which has moved away from traditional extraction methods. He further noted that the government has invested in advanced machinery and expertise to improve production efficiency while ensuring environmentally sustainable practices.

    Additionally, the Prime Minister said Rwanda has recently discovered new minerals such as lithium and beryllium, which are in high demand globally, particularly for electric vehicle batteries.

    “The volume of production has increased, and new minerals such as lithium and beryllium have been discovered. These are highly sought after globally,” he said.

    Investment in the mining sector has also increased significantly, rising from $25 million in 2010 to $121 million in 2023. Dr Ngirente said this growth reflects a structured and strategic approach to developing the industry.

    He emphasised that Rwanda is prioritising value addition before exporting minerals, with three processing plants now operational.

    Gasabo Gold Refinery has the capacity to process 96 tonnes of gold annually, while LuNa Smelter refines 360 tonnes of cassiterite per month. Additionally, Power Resources International Ltd processes 120 tonnes of coltan every month.

    Gold was the highest-earning mineral export, generating .5 billion in 2024.Dr. Ngirente addressing members of parliament on Friday, March 27, 2025.

  • Luxmi Group shines at the 2025 Global World Tea Championships in Las Vegas, awarded in two categories

    This remarkable achievement places Rwandan tea alongside the world’s finest tea producers, further solidifying its reputation on the global stage.

    The recognition places Rwandan tea alongside some of the world’s finest, further solidifying its reputation on the global stage.

    Meanwhile, Attabarie Tea in Assam, another estate under the Luxmi Group, was declared the Superior Winner in the Black Tea CTC category, the largest category in the competition.

    The Global World Tea Championships is a highly esteemed competition that celebrates excellence in tea production.

    The Luxmi Group produces approximately 30 million kilograms of tea across 25 estates in Rwanda, Assam, and Darjeeling. The group includes the iconic Makaibari Estate in Darjeeling and Sorwathe Ltd, Rwanda’s most diversified tea company. Sorwathe produces a variety of teas, including organic, orthodox, CTC black, specialty, green, white, and Fairtrade-certified teas.

    Commenting on the achievement, Mr. Dipankar Chatterjee, Chairman of Luxmi Group, said:
    “Luxmi, in Assam, Darjeeling, and Rwanda, has evolved its plantation practices—including pruning, plucking, and manufacturing—to consistently produce high-quality teas. I congratulate our managers and workers for their relentless pursuit of excellence.”

    Mr. Rudra Chatterjee, Managing Director of Luxmi Tea and Chairman of Silverback Tea Company in Rwanda, added: “This award is considered the ‘Oscar’ of the tea industry. Our goal is to produce the finest teas from the world’s best regions: the flavorful Darjeeling tea from Makaibari, the strong Assam tea from Attabarie, and the bright Rwandan teas from Gisovu.”

    He further stated: “To make tea popular, we need to produce the highest quality teas. These awards belong to every worker and farmer whose passion and skills make our teas extraordinary.”

    CEO of Silverback Tea Company, Mr. Nzeki Samuel Munyao, also commented: “This international recognition for Gisovu Tea Company highlights our strong commitment to quality and the excellent collaboration among all players in the value chain. A big appreciation to the entire team!”

    The recognition of Gisovu Tea Company – Silverback Tea Company on the global stage is a proud moment for Rwanda’s tea industry, reinforcing the country’s reputation as a producer of bright, high-quality teas. This is further reflected in the success of Rugabano Tea Company Pvt Ltd, which topped Rwanda’s NAEB average selling price rankings in 2024, and Pfunda Tea Company, which sources its green leaves from the lush gardens near Gishwati Forest.

    With continued innovation and excellence in tea cultivation, Rwandan teas are gaining a strong foothold in the global market.

    Silverback's Gisovu Tea from Rwanda, a subsidiary of Luxmi Tea, earned international acclaim by winning the prestigious Origin Award in the white tea category at the World Tea Expo 2025, held in Las Vegas.

  • BPR Bank Rwanda posts Frw29.7 billion profit, proposes 13.7% dividend payout

    Addressing a press conference attended by shareholders and key stakeholders on Thursday, March 27, 2025, BPR Bank Rwanda Managing Director Patience Mutesi said the impressive profit growth was driven by a 23% increase in net interest income, which rose to Frw80.3 billion.

    The bank also recorded a 13% rise in customer deposits, reaching Frw757.1 billion, while net loans and advances increased by 8% to Frw620.6 billion. Total assets grew to Frw971.8 billion, demonstrating strong financial stability.

    “Our financial results reaffirm our strong market position,” said the MD. “Profit after tax of Frw29.7 billion represents robust growth across our business segments. This performance was driven by a 23% increase in net interest income, growth in our SME lending portfolio, and investments in key earning assets.”

    Mutesi further noted that the bank has been at the forefront of digital banking advancements, successfully rolling out a Unified Omni-channel banking platform that integrates mobile, internet, and USSD banking to enhance customer experience.

    Additionally, the bank has strengthened its sustainability agenda through green finance initiatives, supported by partnerships such as a $40 million (Frw53.8 billion) financing package from the International Finance Corporation (IFC) to enhance SME lending and support Rwanda’s economic diversification.

    As part of its commitment to youth empowerment and entrepreneurship, the bank launched the BPR Igire Alumni Club, which has supported over 1,000 young entrepreneurs, with 40 businesses receiving seed capital.

    Owing to its strong performance, the bank has proposed a 13.7% dividend payout to shareholders, subject to approval at the upcoming Annual General Meeting (AGM).

    Speaking on the proposed dividend payout, George Rubagumya, Chairman of the Board of Directors, stated, “From a shareholder perspective, our solid financial performance has enabled the Board to propose a dividend payout of 13.7% of profit after tax for approval at the AGM. We have always believed in delivering consistent returns to our shareholders while retaining sufficient capital for future investments.”

    One of the key milestones the bank celebrated in 2024 was its 50th anniversary, marking five decades of banking excellence in Rwanda. The milestone was commemorated with multiple stakeholder engagements, culminating in a grand gala scheduled for August 4, 2024.

    Looking ahead, the bank affirmed that it remains committed to sustained growth, financial innovation, and economic impact through its strong financial foundation, digital transformation, and environmental, social, and governance (ESG) initiatives.

    BPR Bank Rwanda Managing Director Patience Mutesi said the impressive profit growth was driven by a 23% increase in net interest income, which rose to Frw80.3 billion.George Rubagumya, Chairman of the Board of Directors, proposed a 13.7% dividend payout to shareholders, subject to approval at the upcoming Annual General Meeting (AGM).BPR Bank Rwanda Chairperson George Rubagumya and Managing Director Patience Mutesi exchange pleasantries during the unveiling of the audited financial results for 2024.The event was attended by members of the press, shareholders and key stakeholders.

  • Trump slaps 25% tariff on imported cars, shaking global auto industry

    The tariffs, scheduled to take effect on April 2 for vehicles and later for parts, are part of Trump’s broader strategy to boost American manufacturing and protect domestic industries. However, the decision has drawn sharp criticism from global trade partners, industry leaders, and economic analysts.

    Trump has framed the tariffs as a measure to stimulate domestic car production and create jobs in the United States.

    “If you build your car in the United States, there is no tariff,” Trump stated during a press conference, emphasizing his goal to encourage companies to shift operations to American soil.

    He further claimed that the policy would lead to “tremendous growth” in the domestic car industry.

    However, experts predict a different outcome. Analysts warn that the tariffs could disrupt the industry, increase vehicle prices, and temporarily shut down car production lines due to the reliance on foreign-made parts.

    A study by the Anderson Economic Group estimates that the cost of vehicles in the U.S. could rise between $4,000 and $10,000 per car. The tariffs are expected to impact both foreign automakers and American manufacturers who depend on imported components.

    The U.S. imported approximately eight million cars in the last year, accounting for $240 billion in trade.

    The top suppliers of vehicles to the U.S. include Mexico, South Korea, Japan, Canada, and Germany. Additionally, many U.S. automakers have significant manufacturing operations in Mexico and Canada, benefiting from long-standing trade agreements.

    While tariffs on Canadian and Mexican car parts will be temporarily exempted as the U.S. Customs and Border Protection establishes a duty assessment system, the move still threatens trade relations between the nations.

    Market response

    Following the announcement, shares in major automakers fell sharply. General Motors’ stock slid by roughly 3%, while Stellantis, the parent company of Jeep and Chrysler, dropped by 3.6%. The Japanese auto industry also took a hit, with shares in Toyota, Nissan, and Honda all declining amid uncertainty over potential retaliatory actions.

    Tesla CEO Elon Musk acknowledged that the tariffs would also impact his company, stating on social media that “the tariff impact on Tesla is still significant.”

    Industry leaders, including the American Automotive Policy Council, have urged the administration to reconsider, warning that higher production costs could lead to job losses and decreased consumer demand.

    International leaders have condemned the tariffs. Canadian Prime Minister Justin Trudeau labeled them a “direct attack” on Canada’s auto sector, while European Commission President Ursula von der Leyen stated that the European Union would review the measures before deciding on a response. Japan’s Prime Minister Fumio Kishida suggested that his government would explore “all options” in reaction to the tariffs.

    For American consumers, the tariffs are expected to result in higher car prices. Industry experts predict that dealerships may increase prices on existing stock, even before new tariff-affected vehicles arrive.

    Additionally, a decrease in vehicle availability due to reduced production could drive prices up further, mirroring trends seen during past supply chain disruptions, such as the 2021 semiconductor shortage.

    President Donald Trump has framed the tariffs as a measure to stimulate domestic car production and create jobs in the United States. However, the decision has drawn sharp criticism from global trade partners, industry leaders, and economic analysts.

  • Belgian sanctions: A political game with devastating consequences

    The newly installed Belgian government, having taken office just a few weeks prior, has engaged in an unprecedented offensive against Kigali while the Rwandan diplomacy positions itself on equal footing.

    However, far from being justified by clear motives, this conflict seems to have been manufactured, pretending to defend the territorial integrity of the Democratic Republic of Congo (DRC) without any foundation.

    When discussing “International Law,” it becomes crucial to examine the past. Belgium, with its tumultuous history related to the genocide against the Tutsi in 1994, has little legitimacy to make accusations against Rwanda, especially since past events reveal a biased dynamic.

    At a time when thousands of lives were at stake, Brussels chose to turn its back on its humanitarian obligations, abandoning populations to their fate. This silence from the past only reinforces the perception that International Law operates on two speeds, favoring some while neglecting others.

    Current Belgian policy, marked by sanctions against Rwanda, raises ethical questions. Who are the real destabilizers in this region? The accusations of destabilization presented by Brussels mask a deeper complexity.

    By its decisions, Belgium seems to play into political interests, ignoring the true dynamics at play: internal conflicts, genocidaires at large, and millions of Congolese fleeing incessant violence. By sponsoring media that perpetuate hate, it supports the same forces that previously contributed to the collapse of peace in the region.

    Actions by Kinshasa, which has armed groups with a tragic past, also challenge the morality of the Belgian position. The complicity of the DRC in supporting extremist elements underscores the hypocrisy of certain Belgian politicians who see themselves as arbiters of peace.

    Who is truly responsible for the destabilization? Is it Rwanda, which is simply trying to protect its territory, or Belgium, trying to control a narrative and maintain influence over regions it has long dominated?

    This aggressive stance of the Belgian government against Rwanda cannot be separated from the fears it raises among certain politicians regarding the emergence of a strong and autonomous Rwanda. After all, Belgium’s colonial history still weighs heavily on its international relations, and a prosperous Rwanda would question the legacy of a system that has consistently sought to maintain the underdevelopment of African nations.

    The behavior of Belgian diplomats seems symptomatic of an attitude steeped in arrogance and distrust. By sidelining Rwanda from discussions and failing to acknowledge the repercussions of their sanctions, Belgian authorities can be seen as mere divisive actors in the Great Lakes region of Africa.

    The time has come to reconsider these unilateral approaches. Instead of sanctions, Belgium could demonstrate courage by advocating for sincere dialogue that respects the aspirations of African populations. Rather than continuing down a spiral of tensions, nations must find common ground to build a peaceful and prosperous future for all parties involved.

    Ultimately, it is essential to choose dialogue over conflict, understanding over suspicion, and listening over accusation. This path is the only one capable of initiating lasting peace and ensuring that the mistakes of the past do not recur.

    Jean-Pierre Peeters is the author of the article.