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Author: Nicole Kamanzi Muteteri
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Rwanda Bar Association welcomes 60 new members
The new members were sworn-in on November 30, 2023, at the High Court in Nyamirambo.
Lawyer Moïse Nkundabarashi, the President of the Rwanda Bar Association, emphasized the importance of embodying values and transparency in their daily work.
He cautioned them against mistakes that could tarnish the reputation of their profession, urging adherence to the law, self-respect, respect for other institutions and courts, discretion, and humanity.
“I urge you, as you commence your career, to adhere to the principles laid out in the law, maintain self-respect, show respect for other institutions and courts, exercise discretion, and embrace humanity. By doing so, you will not only excel in your chosen profession, but your clients will also hold you in high regard and trust,” stated Nkundabarashi.
He encouraged the new lawyers to familiarize themselves with the rules and regulations governing their profession, treating them as guiding principles throughout their careers.
Nkundabarashi also highlighted the government’s push, particularly from the Justice Department, for alternative dispute resolution (ADR), urging the legal professionals to embrace and implement this approach.
Additionally, Nkundabarashi reminded the new lawyers that their entrance into the legal profession coincides with the government’s emphasis on resolving issues through ADR, aligning with the principles endorsed by the Justice Department.
He stressed the significance of their role in the justice system, prompting them to enhance their professional performance. The President of the High Court, Jean Pierre Habarurema, underscored the importance of lawyers in facilitating swift and efficient justice, benefiting both the Department of Justice and the broader legal system.
Habarurema cautioned against extending assistance to the High Court due to its final decision-making authority, preventing the possibility of a second appeal. The Rwanda Bar Association, having grown from its inception with 37 lawyers to 1550 over the past 25 years, continues to expand its capacity to advocate for justice and assist individuals in legal matters.

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HWPL World Interfaith Prayer Conference 2023: Prayers for end of wars
Attended by 855 people of 10 different religions from 73 countries, the conference featured an impactful order of events, beginning with an opening by the emcee who expressed the urgency of addressing global conflicts and the organization’s heartfelt desire for the cessation of wars. It highlighted the importance of unity among religious individuals and the shared values embedded in various scriptures that promote peace, justice, human dignity, respect, and harmony.
The event included prayers led by representatives from major religions, including Christianity, Hinduism, Sikhism, Islam, Buddhism, Jainism, and Zoroastrianism. The prayers represented by leaders of various religions were different in form, but their contents were all prayers for peace as each religious leader offered prayers rooted in their respective traditions, emphasizing the shared goal of ending war and achieving global peace.
The emcee, in detailing the order of events, explained that a real-time prayer and wish board would be operated where participants could share their own prayers and wishes for peace.
At the end of the prayer meeting, HWPL proposed a “Relay Prayer Campaign” through the moderator as a practical measure for peace. Religious leaders were urged to consistently hold prayer meetings for the cessation of war and world peace, creating opportunities in various forms to gather the hearts of as many people as possible.Amid persisting conflicts and disputes among religions, HWPL’s dedication to fostering religious harmony is evident through initiatives such as the World Alliance of Religions’ Peace (WARP) Offices where religious leaders of various faiths and disciplines gather regularly to discuss their scriptures, HWPL International Religious Peace Academy (IRPA), Religious Youth Peace Camp, Open Dialogue with Religious Leaders, and MOUs with Religious Organizations. As of September 2023, there are 282 WARP Offices in operation in 131 countries.

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Mr Roof awards outstanding newsletter subscribers
The overall winner, Wiston Shimirwa, was presented with a prize of 200 square meters of roofing sheets valued at Rwf2.5 million. Boniface Tuyisenge, an architect, received a voucher worth Rwf300,000 for purchasing construction materials from IngCo. Meanwhile, Eric Maniraguha secured a ticket for two to Kigali Lounge, valued at Rwf200,000.
The selection process for these deserving recipients was meticulous, considering factors such as filled-out profiles, valuable feedback, and thoughtful inquiries.
Architect Boniface Tuyisenge, who claimed the second prize, expressed his motivation for participating in the awards. He highlighted the innovative nature of Mr Roof’s work in the Rwandan market, emphasizing the company’s ability to tailor roofs to individual client needs—a unique feature that resonated with architects who appreciate innovation and natural beauty.
“This opportunity aligns with our values, and winning tools we need for our daily work is a great addition to our professional resources,” Tuyisenge shared.
Jenny Rutaysire, the Sales Manager at Mr Roof, shed light on the company’s commitment to introducing new products and services to the Rwandan market. She emphasized the uniqueness of their offerings, prompting the strategic use of their newsletter as a platform for promotion.
“We chose this newsletter to disseminate information about our products, share updates on price reductions, and highlight various opportunities,” Rutaysire explained.
Encouraging continued engagement, Mr Roof expressed optimism about the future. Rutaysire encouraged those who did not secure prizes this time to stay connected, as the newsletter will feature numerous activities and opportunities in the future.
Acknowledging the increased interest in the ‘Mr Roof Newsletter,’ Rutaysire assured subscribers that their questions would be addressed in upcoming stories.
The newsletter, published twice a month at the beginning and end of each month, serves as a comprehensive source for all company-related news, providing subscribers with timely updates on products, promotions, and other exciting developments.





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Kagame attends ‘Sustainable Markets Initiative’ reception
COP28, commencing on Thursday, is scheduled to conclude on December 12, 2023. On the inaugural day of COP28, member nations reached an agreement to operationalize a Loss and Damage (L&D) fund designed to compensate countries grappling with climate change.
The L&D fund, located at the World Bank but overseen by an independent secretariat, has garnered commitments exceeding $450 million from various countries. Although billions are still required to fulfill its purpose, this marks a positive step forward.
The L&D fund’s inception traces back to COP-27 in Sharm El-Sheikh, Egypt, last year. It took five separate meetings, facilitated by ‘transitional committees,’ to achieve unanimous agreement among countries. Delegates hailed the first-day launch of the fund as a positive start, fostering good momentum for ensuing discussions.
Financial commitments, as of Thursday, include $100 million from the United Arab Emirates (the host country), $100 million from Germany, $17 million from the United States, approximately $50.6 million from the United Kingdom, and $10 million from Japan. The European Union also pledged $145 million, supplementing Germany’s contribution.
The decision to kickstart the fund on the inaugural day of COP28, after years of contention, serves as a noteworthy example of the summit’s efficacy in addressing urgent global challenges.
On the sidelines of COP28, President Kagame participated in the Sustainable Markets Initiative (SMI) reception, co-hosted by King Charles III and UAE President Sheikh Mohammed bin Zayed Al Nahyan.
Launched by King Charles III in 2020 at the World Economic Forum’s Annual Meeting in Davos, the Sustainable Markets Initiative serves as the premier global private sector organization for sustainable transition. Its ability to convene leading organizations from industry, financial services, and governments is instrumental in driving innovation and expediting progress toward a just, sustainable, and prosperous future.
The Sustainable Markets Initiative’s mandate, known as the Terra Carta, aims to coordinate a global effort enabling the private sector to accelerate the achievement of global climate, biodiversity, and Sustainable Development Goal targets. Introduced in 2021 at the One Planet Summit, the Terra Carta outlines guiding principles and ambitious actions through 2030, placing Nature, People, and Planet at the core of global value creation.



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Equity Group completes acquisition of Cogebanque Plc
The acquisition follows the fulfilment of conditions precedent to the acquisition, including regulatory and corporate approvals and was completed on November 30, 2023. EGH now holds 198,250 shares representing 99.1250% of the issued share capital of Cogebanque, officially making Cogebanque its subsidiary.
On June 14, 2023, EGH publicly disclosed its entry into a binding term sheet for the acquisition of 91.93% of Cogebanque’s issued shares from the Government of Rwanda, Rwanda Social Security Board, Sanlam Vie Plc, and Ms. Judith Mugirasoni (the sellers).
The completion of the acquisition was subject to various conditions, including confirmatory due diligence, execution of definitive agreements, regulatory approvals from the Central Bank of Kenya, the National Bank of Rwanda, the COMESA Competition Commission, and corporate approvals.
The Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana said, “The consolidation of Equity Bank Rwanda Plc and Cogebanque will create a stronger and more resilient banking institution better equipped to serve the needs of the people of Rwanda and will contribute to Rwanda’s economic growth and development. Additionally, this partnership demonstrates investors’ confidence in Rwanda’s economic potential and presents new opportunities for the financial sector to thrive.”
On July 28, 2023, EGH entered into a share purchase agreement with the Sellers by which it agreed to acquire, on completion, 183,854 shares at a price of Rwanda Francs 297,406 per share.
Simultaneously, EGH offered to acquire all the remaining shares from the rest of the Cogebanque shareholders, intending to acquire up to 100% of the issued shares of Cogebanque.
Equity Group Holdings Plc Managing Director and CEO, Dr. James Mwangi, said, “We are delighted to welcome Cogebanque’s employees and customers to Equity Group. Through our focus on innovation, cutting-edge technology, and superior service, we aim to provide enhanced financial services, improve lives, expand opportunities for wealth creation, and deliver significant value to all our stakeholders in Rwanda.
The eventual merger of Cogebanque and Equity Bank Rwanda will consolidate Equity Group’s position in Rwanda and support delivery of its overarching strategy, the Africa Recovery and Resilience Plan. The expansion of Equity Group’s business in Rwanda aims to bolster Rwanda’s financial services landscape and fortifies the Group’s commitment to catalyzing socio-economic development across the African continent.”
Dr. Mwangi went further to add, “By synergizing the operations of Cogebanque and Equity Bank Rwanda, EGH is strategically positioned to deliver an expanded array of competitive, customized financial services. This strategic alignment is designed not only to meet the diverse needs of our customers but also to catalyze economic growth, empower local communities, and contribute to the realization of the Group’s vision as Sub-Saharan Africa’s premier financial institution.”
According to its recently released results as at 30th September 2023, Equity Group Holdings reported deposits growth of 20% to Kshs1,208.6 billion up from Kshs 1,007.3 billion with subsidiaries contributing a 49% growth and Equity Bank Rwanda growing by 39%. Loans grew by 26% to Kshs 845.9 billion up from Kshs 673.9 billion with subsidiaries contributing a 46% growth, and Equity Bank Rwanda growing by 20%. Total assets grew by 24% to Kshs1,691.2 billion up from Kshs1,363.7 billion again with subsidiaries contributing 47% and Equity Bank Rwanda growing by 40%.
{{About Cogebanque}}
Cogebanque is a public limited company licensed by the National Bank of Rwanda to provide banking services in Rwanda. At the end of 2022, Cogebanque was the fifth largest bank in Rwanda as measured by reported book value of total assets and shareholders’ equity and served customers in the corporate, small- and medium-sized enterprise and retail customer segments through twenty-eight (28) branches, approximately six hundred (600) active bank agents and thirty-six (36) automated teller machines.
As at 31st December 2022, Cogebanque reported net assets of Rwf47.35 billion and profit after tax of Rwf9.06 billion.
{{About Equity Bank Rwanda Plc}}
Equity Bank Rwanda Plc is a wholly owned subsidiary of Equity Group Holdings Plc and is licensed by the National Bank of Rwanda to provide banking services in Rwanda. Equity Bank Rwanda ranked third amongst Rwandan banks in terms of reported total assets as at 30th September 2023 and served over 1,351,486 customers through a network of 18 branches, 3,880 agents, 23 ATMs and 1,775 merchants.
As of 30th September 2023, Equity Bank Rwanda Plc reported total assets of Rwf682.9 billion, and profit after tax of Rwf23.2 billion.
{{About Equity Group Holdings Plc and Equity Group}}
Equity Group Holdings Plc is a non-operating holding company with banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan and Democratic Republic of Congo, a Commercial Representative Office in Ethiopia and non-banking subsidiaries in Kenya that are engaged in providing investment banking and stock-broking, insurance, custodial services, payment services and telecommunication services.
Equity Group Holdings Plc is listed at the Nairobi Securities Exchange and other regional exchanges with a market capitalization of KES. 1.34 trillion (USD 0.9bn).
Equity Group Holdings Plc reported a consolidated asset base of KES. 1.7 trillion (USD 11.4bn), deposits of KES. 1.21 trillion (USD 8.2bn) and 8,155.0a customer base of over 18.9 million customers as at 30th September 2023. Equity Group has a footprint of over 360 branches, 69, 656 Agents, over 950,000 Pay With Equity (PWE) Merchants, 34,844 Point-of-Sale (POS) Merchants, over 700 ATMs and an extensive adoption of digital and mobile banking channels.


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Police warns over illegal currency exchange
The force urges all those involved in forex exchange to follow the law and to operate in designated or licensed places.
The caution follows the arrest of four suspected illegal money changers, on Wednesday, November 29, in Gisenyi town, Rubavu District.
Superintendent of Police (SP) Bonaventure Twizere Karekezi, the Police spokesperson for the Western region, said that the quartet is part of the group that conducts black market forex exchange activities in Gisenyi town and at the border with the Democratic Republic of Congo (DRC).
“The four suspects were found with combined US$1,480, Rwf413, 500, Congolese francs amounting to 552, 650 and other currencies.
These are ongoing operations to fight these illegal forex trade activities. We strongly urge those engaged in forex trade to follow the layed regulations and guidelines” SP Karekezi said.
Regulation No. 42/2022 of 13/04/2022 governing foreign exchange operations provides that only licensed intermediaries are authorized to carry out foreign exchange business, in conformity with specific Central Bank regulations.
In article 29, operation of buying or selling foreign currency is prohibited, where at least one of the parties to the transaction is not a licensed intermediary.
In article 34, any violation of the provisions of this Regulation, and other related legal or regulatory provisions, shall be punished in accordance with the appropriate laws or regulations.
In addition, any person who sells or pricing goods or services in foreign currency contrary to the provision of this regulation shall be punishable by the seizure and confiscation of the amount involved in that transaction. The confiscated amount shall be credited on the Public Treasury account.
Article 223 of the law determining offenses and penalties in general, states that any person who, by any means, illegally sells or exchanges, national or foreign currency, commits an offence.
Upon conviction, he/she is liable to imprisonment for a term of not less than six months and not more than two years or a fine of not less than Rwf200, 000 and not more than Rwf3 million.
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UK considers maintaining financial support for Rwanda’s migrant program
Matthew Rycroft, Permanent Under-Secretary of State at the Home Office, has confirmed the continuation of the program to send migrants in illegal situations to Rwanda. During a hearing before the Parliamentary Committee on Security, Rycroft hinted at the provision of extra funds to Rwanda.
However, he consistently declined to disclose the exact amount, citing ministerial decisions to keep this information confidential until the summer.
This exchange occurred in a tense atmosphere at the Home Affairs Committee (HAC), leaving lawmakers frustrated by Rycroft’s lack of precise answers. Conservative MP Lee Anderson, in particular, expressed dissatisfaction with Rycroft’s inability to provide clarity on several questions.
The session also revealed that officials from the Ministry of Interior were unaware of the status of around 17,000 asylum seekers whose files had been withdrawn by the ministry.
The issue of additional funding beyond the initially allocated 140 million Euros to the Kigali government for managing asylum requests was raised. Rycroft indicated that there would be additional payments each year, with details being communicated annually, in accordance with ministerial decisions.
The project to send migrants staying in the UK illegally to Rwanda had faced a temporary halt by the Supreme Court, but the British government has recently decided to revise its agreement with Rwanda. According to Rycroft, British delegations are currently in Rwanda to finalize this agreement.

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Lt Gen (Rtd) Kayonga appointed Rwandan envoy in Türkiye, NLA gets new boss
Lt Gen (Rtd) Kayonga, a seasoned figure with a notable past as the Chief of Defence Staff in the Rwanda Defence Force, steps into the role of Rwanda’s ambassador to Türkiye. His return to diplomatic service after four years, coupled with his prior stint as Rwanda’s ambassador to China, positions him strategically for this critical role following the departure of Fidelis Mironko, who served since 2020.
Simultaneously, Marie Grace Nishimwe assumes the helm at the National Land Authority, succeeding Esperence Mukamana, who parted ways with the institution in August under undisclosed circumstances. Nishimwe, well-versed in the intricacies of land administration, previously served as the Deputy Registrar and head of the land administration department within the same institution. Additionally, she holds the position of chair of the governing council of the Institution of Real Property Valuers of Rwanda.
These appointments signify a deliberate move by Rwanda to redefine its diplomatic representation and inject fresh leadership into crucial administrative roles, particularly within the National Land Authority. As the nation looks towards new horizons, these changes reflect a commitment to dynamic and strategic governance.

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Rwanda’s soaring ambitions: A strategic hub for drone innovation and industry growth
The Minister of ICT and Innovation, Paula Ingabire underscored these priorities during the “Unlocking Opportunities: Advancing Rwanda’s Drone Ecosystem” event on November 29 at Kigali Serena Hotel.
The gathering brought together industry leaders, experts, academia, and partners to delve into the current state and future prospects of the drone sector in Rwanda and beyond.
Ingabire articulated the vision of Rwanda as a proof-of-concept hub, citing examples like Zipline, a company that originated in Rwanda and expanded globally. Rwanda’s Emerging Technology Strategy has identified the drone sector as crucial for development, foreseeing its impact on various sectors such as healthcare, agriculture, and infrastructure.
Highlighting the global growth of the drone industry, propelled by technological advancements and regulatory support, Ingabire emphasized a projected compound annual growth rate of 27 percent.
Asia leads in drone market growth, followed by the Middle East and Africa, indicating significant potential in these regions.
Ingabire also drew attention to India’s aspirations to become a global drone hub by 2030, emphasizing local manufacturing, integrated drone ecosystems, and research and development investments. She encouraged learning from India’s experiences to foster a thriving drone ecosystem in Rwanda.
Emphasizing safety and regulations, Ingabire stressed their pivotal role in the development of the drone ecosystem. The anticipated Drone Operation Centre, directed by Dr. Rene Kabarisa, could commence operations next year.
The Rwf12 billion project aims to establish a state-of-the-art infrastructure in Huye, nurturing the drone ecosystem and positioning itself as a regional hub for the drone industry.
Dr. Rene Kabarisa, the director of the Drone Operation Centre, outlined the envisioned features of the centre, including serving as a safe testing ground for drones, a business incubation space, an innovation centre, and a co-working space.
Additionally, the centre will support drone manufacturing, testing, training, research and development activities, and provide space for recreational and hobbyist drone flying in a safer environment, as per MINICT.

