Anant joins Spiro with more than two decades of leadership experience across India, the Middle East and Africa, building and scaling businesses across electric mobility, energy and industrial sectors.
Most recently, he served as CEO of Indofast Energy, the joint venture between IndianOil and SUN Mobility, where he led the development of one of India’s largest battery-swapping networks, comprising more than 1,800 stations and serving nearly 90,000 vehicles daily.
The appointment comes at a pivotal moment for Spiro following its landmark US$215 million financing round, one of the largest investments ever made in Africa’s electric mobility sector.
As Spiro is accelerating on its mission to transform mobility across Africa, Anant’s broad mandate will span battery swapping, leasing, logistics, energy, and vehicle manufacturing. As CEO Mobility, Kaushik Burman will continue to further consolidate Spiro’s leadership and fleet in Spiro’s 7 existing markets and beyond.
Commenting on the development; Gagan Gupta, Founder and Chairman of Spiro said: “As Spiro is accelerating on its mission to transform mobility across Africa through clean, affordable and accessible electric transportation solutions, Anant will consolidate the Group’s strategic initiatives and guide the company through its next chapter of growth and execution in mobility, energy and tech.”
Commenting on his appointment, Anant Badjatya said: “Africa represents the most exciting frontier for electric mobility. Spiro has built a unique platform and is exceptionally well positioned to accelerate the transition to cleaner and more accessible mobility across the continent. I look forward to working with our teams, partners and stakeholders to drive the next phase of growth and impact.”
Spiro is Africa’s largest electric mobility company and operates the continent’s most extensive battery-swapping network for electric two-wheel vehicles.
With more than 100,000 electric motorcycles on the road, over 2,500 swapping stations and more than 30 million battery swaps to date, Spiro is replacing expensive fossil-fuel transport with affordable, accessible and sustainable mobility solutions.
Through its growing regional production and assembly footprint, Spiro is committed to building electric vehicles made in Africa by Africans for Africa and the world.
Spiro has appointed former Indofast Energy CEO Anant Badjatya as Group CEO to lead its next phase of growth
Through these engagements, the bank convenes clients operating in a particular sector alongside industry experts to assess prevailing challenges and identify opportunities for collaboration that can drive growth.
According to BPR Bank Rwanda PLC’s Chief Finance Officer, Vincent Ngirikiringo, the initiative was conceived as a platform for dialogue between the bank and stakeholders across different sectors of the economy.
“We designed these discussions as a forum for exchanging ideas with our partners in various sectors of the economy. It is an ongoing initiative that will also cover industries such as construction, agriculture and others,” he said.
The first edition brought together players from the energy, transport and manufacturing sectors, all of which depend heavily on petroleum products and have been significantly affected by recent global market disruptions.
The challenges stem largely from the conflict involving Iran, which disrupted global oil markets following the closure of the Strait of Hormuz, a critical shipping route through which more than 20 million barrels of oil pass each day, representing around 20% of global consumption.
As a result, petroleum prices surged, rising by about 45% since the Middle East conflict began in late February 2026.
A barrel of petroleum products that had been trading between $65 and $70 climbed to around $130 in April before easing slightly. By early June 2026, prices were fluctuating between $90 and $95 per barrel.
The Iran conflict also led to the loss of approximately 1.5 billion barrels of unprocessed petroleum products that never reached the market.
Globally, the sector is estimated to have incurred losses exceeding $50 billion as a consequence of the crisis.
Representatives from the public and private sectors discussed possible solutions to the challenges posed by rising petroleum product prices.
Rwanda among the affected countries
The impact was also felt in Rwanda. On August 5, the price of diesel increased by Rwf722 per litre, reaching Rwf2,927 from Rwf2,205, while petrol remained unchanged at Rwf2,938 per litre.
Earlier, on April 16, 2026, petrol prices rose by Rwf635 per litre, increasing from Rwf2,303 to Rwf2,938, while diesel remained at Rwf2,205.
The previous adjustment had been made on April 3, 2026, when petrol prices increased by Rwf314 to reach Rwf2,303 per litre, while diesel rose by Rwf257 to Rwf2,205.
The increases contributed to broader inflationary pressures. According to the National Institute of Statistics of Rwanda (NISR), consumer prices in April 2026 were 13% higher than April 2025. In March 2026, annual inflation stood at 9.2%.
The root cause, according to Eric Mutaganda, Chairperson of the Petroleum Traders Association of Rwanda and Managing Director of Merez, is the disruption caused by the Iran conflict.
“The Iran conflict had a significant impact on us, but together with the Government of Rwanda we managed to reduce its severity. The government provided subsidies to ensure Rwandans did not face the full burden that would otherwise have occurred. Although oil prices increased by 45%, the actual procurement costs multiplied five times,” he explained.
The figures illustrate the point. Before the conflict began in early February, a tonne of petroleum products cost around $300. Today, the same quantity costs approximately $1,650.
Mutaganda noted that addressing such shocks requires substantial strategic storage capacity that can shield the country during supply disruptions, with financial institutions playing a key role in supporting such investments.
Rwanda currently has storage facilities capable of holding about 110 million litres of petroleum products, enough to cover roughly one and a half months of demand. However, experts estimate that the country would need storage capacity of around 400 million litres to comfortably sustain supplies for four months during a global crisis.
Rwanda imports approximately 60 million litres of fuel every month. Of this, aviation fuel accounts for about 10 million litres, diesel 30 million litres and petrol 20 million litres.
Mutaganda said that while March and April were particularly challenging, the situation has since improved.
“We experienced difficulties in March and April, but things have started returning to normal. Some of our suppliers also faced disruptions. We have not yet reached the volumes we used to import, but supply conditions have improved and all fuel products are now available. We hope the Iran conflict comes to an end soon,” he said.
Most of Rwanda’s petroleum products are imported through Tanzania’s Port of Dar es Salaam, which handles between 90% and 95% of the country’s fuel imports. The remaining 5% to 10% comes through Kenya’s port system.
Fuel imports are handled by between 10 and 15 companies, including Merez, a Rwandan-owned company that has operated for 25 years. It employs more than 300 people and operates 19 fuel stations across the country.
“Our target is to end this year with 20 fuel stations. We employ Rwandans, and the company is 100% Rwandan-owned,” Mutaganda said.
He added that private sector operators are also working alongside the government to expand national storage capacity. Merez, for example, plans to construct a 20-million-litre fuel storage facility in Nyacyonga, Gasabo District.
“We are currently seeking the necessary approvals from the City of Kigali so construction can begin. Other companies are also planning similar projects to increase the country’s storage capacity,” he said.
In addition to Merez, Société Pétrolière (SP) is building liquefied petroleum gas storage facilities valued at more than Rwf60 billion. The facilities will have the capacity to store 9,000 tonnes of cooking gas, enough to supply the country for about two months.
Eric Mutaganda, Chairperson of the Rwanda Association of Petroleum Product Traders and Managing Director of Merez, said the sector imports about 60 million litres of petroleum products each month.
BPR Bank Rwanda steps in
BPR Bank Rwanda is among the country’s largest banks. In 2025, it recorded profits exceeding Rwf40.8 billion. The bank also extended loans worth Rwf666 billion in 2024, underscoring its contribution to Rwanda’s economic development.
It is against this backdrop that the bank decided to convene stakeholders in the petroleum sector to explore practical solutions, particularly given its capacity to provide financing that can help businesses weather the crisis.
Mutaganda said the role of banks has become even more critical as import costs have multiplied.
“If fuel costs increase fivefold, it means you need five times more capital than before to purchase the same quantity of products. That is where banks come in by increasing financing capacity. Banks have supported us, and when support continues during difficult periods, it helps businesses stay afloat until conditions improve,” he said.
Ngirikiringo reassured industry players that BPR remains committed to engaging with stakeholders because petroleum products are fundamental to economic activity.
“We cannot achieve sustainable development if these challenges are not properly addressed. Given the impact of the Iran conflict on global fuel prices, there are consequences for both livelihoods and the economy. We are discussing what can be done to ensure Rwanda remains economically resilient despite these challenges,” he said.
He explained that BPR is exploring ways to facilitate fuel imports by providing financing mechanisms that enable importers to secure supplies without having to make immediate full payments.
“We provide facilities that allow importers to bring petroleum products into the country and settle payments once the products arrive. Instead of sending money in advance and waiting for delivery, we can support them. Because we have established relationships with international banks and suppliers, our clients can access products without excessive pressure and with greater certainty,” he explained.
Ngirikiringo added that BPR also provides conventional loans that support infrastructure investments, including the construction of fuel storage facilities that can help expand national reserves.
BPR Bank Rwanda PLC’s Chief Finance Officer, Vincent Ngirikiringo, reassured petroleum traders facing capital constraints amid rising fuel costs.
Reassurance from the National Bank of Rwanda
The Chief Economist at the National Bank of Rwanda (BNR), Dr. Thierry M. Kalisa, said the Iran conflict had shaken global petroleum markets because of disruptions linked to the closure of the Strait of Hormuz.
“Rwanda imports petroleum products because we do not produce them locally. As a result, domestic prices increased. Transport is one of the largest components of household expenditure in Rwanda. About 12% of household income is spent on transportation. When transport costs rise, the prices of many other goods and services also increase,” he said.
To illustrate that the issue extends far beyond Rwanda, Dr. Kalisa noted that global inflation had initially been projected at 4.4% in 2026 and 3.7% in 2027, although those projections could be revised upward depending on global economic conditions. Meanwhile, global economic growth is forecast at 3.1% in 2026 and 3.2% in 2027.
“What is happening is not unique to Rwanda. It is a concern shared by countries around the world, though it affects them through different channels,” he said.
He explained that Rwanda has already put in place measures to help cushion the economy, including efforts to narrow the trade deficit through increased exports such as coffee, minerals and other products.
Dr. Kalisa noted that despite these efforts, Rwanda will continue importing essential commodities that cannot be produced locally, including petroleum products, which account for imports worth more than $650 million annually.
He highlighted the stability of the Rwandan franc against the US dollar as another factor helping fuel importers manage costs.
This was evident during the first quarter of the year, when the franc depreciated by only 0.5%.
“Compared to previous years, that is a very low level. This is extremely important for importers because exchange-rate movements have remained relatively stable. It allows them to continue importing goods without facing major increases in the value of their import bills,” he said.
If current economic performance is maintained, Rwanda’s economy is expected to grow by 6.8%, lower than the 9.4% growth recorded in 2025 but still reflecting continued expansion despite global headwinds.
Dr. Thierry M. Kalisa, Chief Economics at the National Bank of Rwanda, outlined measures being taken to mitigate the impact of rising prices.Speakers who shared insights on addressing rising fuel prices were recognized with awards following the discussions.BPR Bank Rwanda PLC brought together stakeholders from the energy sector to explore solutions to the challenges currently affecting the industry.
The event brought together many members of the Rwandan community as well as several distinguished guests, including the Ambassador of Rwanda to Luxembourg, Aurore Mimosa Munyangaju.
The evening was further enriched by a presentation from Professor Alain Verhaagen, who provided historical insight into the mechanisms that led to the Genocide against the Tutsi in Rwanda and the country’s reconstruction process based on unity, reconciliation, and peace.
In her remarks, the Ambassador praised the play as a work that goes beyond artistic expression to become a powerful vehicle of memory, conveying essential values such as unity, respect, solidarity, resilience, and dialogue.
She emphasized the fundamental role of culture and the arts in preserving memory and passing this legacy on to younger generations.
In an interview following the performance, author and director Jean-Marie Vianney Rurangwa expressed his delight at presenting Wipe Away Your Tears and Stand Up in the Grand Duchy of Luxembourg.
Having already brought the play to several countries, including Rwanda, Uganda, Egypt, the United States, Belgium, Poland, Senegal, and Guinea-Conakry, he said he was honored to have been invited by Ibuka Luxembourg in collaboration with the Embassy of Rwanda in the Grand Duchy of Luxembourg.
He extended his sincere gratitude to all the artists, organizers, partners, and everyone who contributed to the success of the performance. He also expressed his deep appreciation to the audience for their presence, attention, and commitment to the duty of remembrance.
According to him, everyone’s contribution helped make the Luxembourg stage of this journey a significant moment of commemoration, transmission, and reflection.
For his part, Kalisa Didace, President of Ibuka Luxembourg, recalled the importance of preserving the memory of the victims and continuing the fight against genocide denial, racism, and all forms of discrimination.
He also noted that this initiative, one of the first organized by the young association founded last March, is fully in line with its mission of transmitting memory to present and future generations.
Through discussions, testimonies, and the power of theatre, the evening reaffirmed the importance of remembrance while conveying a message of hope, human dignity, and collective commitment to peace, mutual understanding, and social cohesion.
It also highlighted the essential role of culture in preserving the memory of the Genocide against the Tutsi and transmitting its lessons to future generations.
Professor Alain Verhaagen provided historical insight into the mechanisms that led to the Genocide against the Tutsi in Rwanda and the country’s reconstruction process, founded on unity, reconciliation, and peace.Author and director Jean-Marie Vianney Rurangwa expressed his delight at presenting Wipe Away Your Tears and Stand Up in the Grand Duchy of Luxembourg.Martin Janssens is also a member of the cast of this theatrical production.Amb. Aurore Mimosa Munyangaju praised the play as a work that transcends artistic expression to become a powerful vehicle of remembrance, conveying essential values such as unity, respect, solidarity, resilience, and dialogue. Kalisa Didace, President of Ibuka Luxembourg, recalled the importance of preserving the memory of the victims and continuing the fight against genocide denial, racism, and all forms of discrimination.Lawyer André Karongozi, a member of the cast of this theatrical production.Author and director Jean-Marie Vianney Rurangwa expressed his delight at presenting Wipe Away Your Tears and Stand Up in the Grand Duchy of Luxembourg.Professor Alain Verhaagen provided historical insight into the mechanisms that led to the Genocide against the Tutsi in Rwanda and the country’s reconstruction process, founded on unity, reconciliation, and peace.
The announcement was made by the Minister of State for Infrastructure, Ambassador Jean de Dieu Uwihanganye, after the price of diesel rose by Rwf722 per litre, from Rwf2,205 to Rwf2,927, largely due to rising international fuel prices.
Diesel price hikes typically lead to higher transport costs, as most buses and public transport vehicles operating in Rwanda run on diesel.
However, Uwihanganye assured commuters that transport fares would remain unchanged.
“Public transport buses will continue purchasing diesel at the previous price because the Government will provide a subsidy. We have worked with fuel station operators and transport companies to make this possible. The objective is to ensure that the benefit reaches ordinary citizens,” he said during an interview with RadioTV1.
He added that transport fares would remain stable across the country, including in Kigali and the provinces, because the main factor that would ordinarily drive fare increases has been addressed.
“The cost of transport will not increase anywhere in the country, whether in Kigali or upcountry,” he said. Uwihanganye also noted that businesses are being encouraged to adapt to the changing fuel market and consider investing in electric vehicles as part of long-term efforts to reduce dependence on fossil fuels.
Claudien Habimana, Chief Executive Officer of Société Pétrolière (SP), one of Rwanda’s leading petroleum importers and distributors, confirmed to IGIHE that fuel companies had been informed about the subsidy plan, although it has not yet been implemented as authorities finalize operational details.
“The Rwanda Utilities Regulatory Authority [RURA] is still holding discussions with bus operators. Once they reach an agreement, we will receive guidance on how the system will work,” Habimana said.
“For now, public transport operators are paying the market price because we have not yet received official instructions. The discussions are ongoing, and we expect the framework to be finalized within the next few days.”
According to Habimana, RURA is preparing regulations that will determine how the diesel subsidy for public transport operators will be administered.
He explained that several options can be considered. Under one model, fuel stations could sell diesel to bus operators at the subsidized rate of Rwf2,205 per litre and later claim reimbursement from the Government. Another option would require transport companies to pay the full market price and then seek reimbursement through the subsidy scheme.
“If the proposal is approved, we could receive payment after deducting the subsidy and then recover the difference from the Government. Alternatively, bus operators could pay the full amount and later apply for reimbursement. Discussions are still ongoing regarding the most practical approach,” Habimana said.
On July 5, the Rwanda Utilities Regulatory Authority announced new fuel prices, maintaining petrol at Rwf2,938 per litre while increasing diesel from Rwf2,205 to Rwf2,927 per litre.
Prime Minister Dr. Justin Nsengiyumva recently revealed that without government intervention, the price of diesel could have reached Rwf3,581 per litre.
The recent surge in global fuel prices has largely been attributed to escalating tensions involving the United States, Israel and Iran. The conflict has disrupted shipping through the Strait of Hormuz, a strategic maritime route through which around 20 percent of the world’s daily oil supply passes.
This photo shows buses parked at Downtown Bus Park. The Government of Rwanda has been subsidizing public transport to lessen the burden on passengers.
In a statement released on Monday, the company stated that over the past 12 years, the partnership between SKOL and Rayon Sports evolved into one of the most recognized and impactful collaborations in Rwandan football, built on shared ambition, mutual respect, and a common commitment to the development of sport in Rwanda.
Throughout the partnership, both institutions worked closely together to support the club, strengthen fan engagement, and contribute to the continued growth of football across the country.
SKOL said it remains committed to maintaining and strengthening its long-standing relationship with Rayon Sports and its supporters in a sustainable manner.
The company indicated that representatives from both institutions have engaged in positive and constructive discussions regarding the future of the partnership, with a shared interest in identifying approaches that can support the club’s long-term ambitions and continued development.
As part of these discussions, SKOL presented an evolution of the partnership structure from a Principal Sponsorship arrangement toward a mutual-benefit sponsorship model. According to the company, the approach is intended to create greater flexibility and potentially open opportunities for additional partnerships capable of contributing to the long-term sustainability and development of Rayon Sports.
SKOL stated that the continued evolution of sports partnerships requires adaptive and sustainable models that can support clubs in an increasingly dynamic environment while preserving strong institutional relationships.
The company added that discussions remain ongoing and expressed confidence in the spirit of mutual respect and collaboration that has characterized its relationship with Rayon Sports for more than a decade.
SKOL also thanked Rayon Sports’ leadership, players, supporters and all stakeholders for the trust, collaboration and memorable moments shared throughout the years, reaffirming its dedication to supporting the advancement of sport and meaningful partnerships that positively contribute to Rwandan communities.
SKOL said it remains committed to maintaining and strengthening its long-standing relationship with Rayon Sports and its supporters in a sustainable manner.
German Chancellor Friedrich Merz and French President Emmanuel Macron have come to the conclusion that aviation companies Airbus and Dassault cannot reach an agreement on jointly building the combat aircraft, said German public broadcaster ARD on its news website Tagesschau, quoting German government sources.
According to the report, Merz advised Macron not to pursue the construction of the fighter jet any further.
The two nations are expected to continue developing the “Combat Cloud,” a network intended to connect military platforms and weapons systems, the report said.
Launched in 2017 by Macron and former German Chancellor Angela Merkel, the FCAS is considered a flagship European defense project to develop a next-generation air combat system.
German Chancellor Friedrich Merz and French President Emmanuel Macron have come to the conclusion that aviation companies Airbus and Dassault cannot reach an agreement on jointly building the combat aircraft,
Speaking during her daily morning press conference at the National Palace in Mexico City, Sheinbaum accused political opponents of attempting to provoke a government crackdown in order to generate negative international headlines ahead of the tournament.
However, she ruled out the use of repressive police measures in response to any demonstrations.
“There are groups that want to provoke us, and they are not necessarily teachers. What they want is repression,” Sheinbaum said.
“We will also ensure that the World Cup opening ceremony proceeds smoothly, peacefully and calmly,” she added.
Mexico is one of three host countries for the 2026 FIFA World Cup, alongside the United States and Canada. The country is scheduled to host 13 matches across three cities: Mexico City, Guadalajara and Monterrey.
Sheinbaum’s comments come after the CNTE warned that it could stage protests if the federal government fails to meet its demands, including higher wages and other labor-related concessions.
Mexican President Claudia Sheinbaum addresses supporters at the Monument to the Revolution in Mexico City, Sunday, May 31, 2026, marking two years in power. (AP Photo/Marco Ugarte)
Launched on World Oceans Day, which is observed annually on June 8, the third World Ocean Assessment found that the ocean continues to be under severe and accelerating anthropogenic pressure, driven by climate change, pollution and increased human activities.
These pressures are often cumulative, combining to cause widespread biodiversity loss, undermining the ecosystems that support fisheries, coastal protection and human health.
“The third World Ocean Assessment, launched today, documents a deepening crisis driven by climate change, overfishing, biodiversity loss and marine pollution,” UN Secretary-General Antonio Guterres said in a message for the launch of the report.
“We cannot keep treating the ocean as limitless. We must build a new relationship with the ocean: Grounded in science. Framed by international law. And built on shared responsibility — across nations, sectors, and generations — to advance the Sustainable Development Goals,” said Guterres.
The third World Ocean Assessment identified the main human drivers of change to the ocean: human population growth and demographic changes; economic activity; technological advances; changing governance structures and social, economic and geopolitical instability; climate change, biodiversity loss and pollution.
It found that about 16 percent of the total increase in ocean heat content since 1955 has occurred since 2018. The greatest relative warming has been observed in the Atlantic Ocean and the southern parts of the Indian and Pacific Oceans.
The sea level continued to rise at increasing rates, from less than 2 millimeters per year prior to 2015 to 4.3 millimeters per year in 2023, according to the report.
Also, it found that 52.1 million tonnes of plastic waste enter the ocean each year, contributing to an estimated 24.4 trillion microplastic particles, which are now known to affect more than 4,000 marine species.
Large gaps persist in ocean knowledge, the report said, with only 27.3 percent of the seafloor mapped as of 2025, leaving deep-sea ecosystems, biological processes, and cumulative impacts poorly understood.
“The imperative for a healthy and resilient ocean has never been more urgent. Global collaborations and research, and our increased understanding of the ocean, provide essential insights into the state of marine ecosystems, the profound changes they are undergoing and the need for our care,” said Rafael Gonzalez-Quiros, joint coordinator of the group of experts for the third World Ocean Assessment.
The third World Ocean Assessment found that the ocean continues to be under severe and accelerating anthropogenic pressure, driven by climate change, pollution and increased human activities.
According to an update released Monday, 35 new confirmed cases, including 10 deaths, were recorded on Sunday in the eastern provinces of Ituri and North Kivu. Seven additional patients recovered, bringing the total to 19.
The outbreak was still on an upward weekly trend and the recent slight decline shown in the epidemic curve may reflect delayed laboratory updates, not a real slowdown in transmission, it said.
As of Sunday, 309 people were in isolation or hospitalized, including 116 confirmed cases and 193 suspected cases.
The contact follow-up rate in the three affected provinces rose to 64.4 percent, with 5,418 contacts under follow-up and 3,489 seen. The rate remained well below the target of 95 percent.
Laboratory capacity remained under pressure in North Kivu, with 183 test results pending due to a shortage of reagents.
The current outbreak, caused by the Bundibugyo strain of the Ebola virus, was officially declared by the DRC Health Ministry on May 15.
The affected provinces, namely Ituri, North Kivu and South Kivu, have a combined population of nearly 15 million people and face massive internal displacement and cross-border movements toward neighboring countries.
The number of confirmed Ebola cases in the Democratic Republic of the Congo (DRC) has risen to 550, including 101 deaths, with health authorities warning that the outbreak continues to trend upward.
The event, organised by DJ Spinny, will bring together music fans for a two-day experience combining live performances and entertainment activities. On July 18, revellers will enjoy performances from various artists, while July 19 will feature additional entertainment alongside the screening of the FIFA World Cup final.
Kabza De Small, born Kabelo Petrus Motha on November 27, 1992, in Mpumalanga and raised in Pretoria, is widely regarded as one of the pioneers of Amapiano, a genre that has gained massive global popularity in recent years.
He began his career as a DJ in 2009 and released his debut album Avenue Sounds in 2016. However, his breakthrough came with the rise of Amapiano, which propelled him to international recognition.
In 2018, his hit track Umshove further cemented his status, followed by successful projects including Pretty Girls Love Amapiano, I Am the King of Amapiano: Sweet & Dust, and Bab’Motha released in 2025.
Kabza De Small is also best known for his collaboration with DJ Maphorisa under the duo Scorpion Kings, a partnership that has played a key role in pushing Amapiano onto the global stage, with collaborations featuring artists such as Wizkid and Burna Boy.
This will be the second edition of the “Spinny and Friends” festival, following its debut in 2025, when DJ Spinny marked a decade in music with shows held in Uganda and Rwanda.
