Author: Wycliffe Nyamasege

Kenyan SMEs discover ‘goldmine’ in Rwanda’s consumer market

From natural peanut butter and cosmetic oils to fish leather products and dried fruits, exhibitors say the Rwandan market offers room for regional businesses to grow, particularly as consumers and manufacturers seek new suppliers.

Grace Onyango, representing Kenyan social enterprise Mamlo Foods, described Rwanda as a promising market after the company attracted interest in its natural peanut butter.

“We’ve discovered a goldmine in Rwanda,” she told IGIHE on Thursday, November 5, 2026, during the special Kenya Day event, highlighting new cross-border trade and investment potential.

Grace Onyango (right) described Rwanda as a promising market after the company attracted interest in its natural peanut butter.

Based in Busia, western Kenya, Mamlo Foods works with women peanut farmers, buying their produce and processing it into natural peanut butter. The company, founded in 2024, can process up to 720 kilogrammes of peanuts daily.

It already has orders through a Rwandan partner, Rainbow Health Food, and is exploring ways to expand its presence, including sourcing peanuts from local farmers and potentially establishing a microfactory in Rwanda.

Onyango said the company was encouraged by the response to its products at the fair, noting that introducing consumers to natural peanut butter could help build demand in a market where the product is not yet widely familiar.

Patrick Mutahi, director of Mukurweini Oil Enterprises, is also looking to build on interest from Rwandan businesses.

The Kenyan company produces cold-pressed castor and avocado oils, which are used by cosmetics manufacturers. Mutahi said he had identified five Rwandan cosmetics manufacturers interested in its products, with some having already made purchases and expressing plans for regular orders.

The Kenyan company produces cold-pressed castor and avocado oils, which are used by cosmetics manufacturers.

He sees an opportunity to supply local manufacturers that currently rely on imported oils, including products sourced from India.

Mutahi said the company is certified by the Kenya Bureau of Standards, a credential he believes gives prospective buyers confidence in the quality of its products and supports its efforts to expand into regional markets.

“When I am certified in Kenya, my product can be accepted in this market. So there is no barrier of certification. If products can work in Kenya, even here in Rwanda, they can be used,” he highlighted.

For Ira Ambani, founder of Ambani Fish Leather, the fair offered an opportunity to introduce a different use for fish waste while exploring new markets for the company’s products.

The business sources Nile perch from Lake Turkana in northern Kenya and processes the discarded fish skins into leather used to make items such as bags and shoes.

A pair of sandals made by Ambani Fish Leather.

Ambani said the company had already found buyers in markets including Australia and Iceland, and was using the Kigali fair to introduce its products to potential partners in Rwanda and beyond.

She said the company had sold almost all the shoes it brought to the exhibition and was in discussions with potential Rwandan business partners.

“Coming here gives us an opportunity to meet people and understand what the market needs,” she remarked.

Ambani, who has been developing fish leather products since 2023, said the material offers strong tensile strength compared with conventional cow leather, while creating value from a resource that would otherwise go to waste.

Ambani says fish leather has strong tensile strength compared with conventional cow leather,

Edna Mbithi, founder of Rootrise Agri, said the company had also received a positive response from buyers in Kigali.

Rootrise works with about 300 farmers to produce dried fruits and vegetables. Mbithi said the company had sold out its mangoes and small pineapples at the fair and was in discussions with supermarkets and hotels.

She said Rwanda’s hospitality industry presented opportunities for suppliers of locally processed agricultural products, adding that the company was interested in building relationships that could support longer-term sales.

Turning regional trade into business opportunities

The experiences of the Kenyan exhibitors reflect the broader objective of the EAC MSMEs Trade Fair, which seeks to help small businesses access markets across the region and build commercial relationships beyond their home countries.

Kenya’s delegation included more than 600 businesses representing different sectors and counties, with exhibitors showcasing products ranging from agricultural processing and food products to leather goods and cosmetics inputs.

Henry Rithaa, Director General and CEO of the Kenya Micro and Small Enterprises Authority (MSEA), said the experiences of exhibitors showed how regional trade fairs could help small businesses move from displaying products to securing commercial relationships.

Henry Rithaa (right), Director General and CEO of the Kenya Micro and Small Enterprises Authority (MSEA), poses with a trader at the expo in Kigali.

He said Kenyan businesses had identified opportunities in sectors including beauty products, oils, leather, food processing and machinery, while some had already secured orders.

Rithaa also pointed to Rwanda’s hospitality industry as an area where Kenyan businesses could expand.

“The second opportunity we have seen in Rwanda is in the hospitality industry. Kenyans have loved this sector, and we see an opportunity now to grow outside our country so that you can also taste Kenyan cuisine,” he stated.

He said businesses needed to understand what customers require, maintain quality and build the capacity to fulfil larger orders. Support for small enterprises should therefore go beyond helping them exhibit products to preparing them to compete in regional markets.

Kenya Day showcased Kenyan products alongside the country’s diverse culture.

Susan Mang’eni, Kenya’s Principal Secretary for MSME Development, confirmed the fair had helped some Kenyan exhibitors secure deals with retail chains in Kigali, while others had sold out their stocks.

She said the Kenyan government planned to bring together participating businesses and relevant agencies after the event to review the outcomes and help exhibitors follow up on contacts made during the exhibition.

“We want, when we go back to Kenya, we sit down, we share experience, and we come up with an action plan on what we need to do,” she said.

Regina Akoth Ombam, Kenya’s Principal Secretary for Trade, said stronger trade among neighbouring countries was essential to expanding opportunities for businesses across the region.

“The best way and the only way you can grow in trade is when you first start trading with your neighbours,” she stressed.

She called for continued efforts to improve trade facilitation, logistics and market connectivity, while addressing barriers that make it difficult for goods and services to move across borders.

While opening the fair earlier this week, Prime Minister Justin Nsengiyumva highlighted the scale of the regional market, citing annual demand for about 290 million pairs of shoes in East Africa against local production of only 17 million pairs.

“We want these MSMEs to grow up. We want you to be billionaires, and we are here to help. Government institutions and financial partners are ready to help small enterprises expand their capacity and take advantage of the wider regional market,” he said.

The EAC Deputy Secretary General in charge of Customs, Trade and Monetary Affairs, Annette Ssemuwemba Mutaawe, urged exhibitors to turn the contacts made at the fair into lasting business relationships.

“We want to extend beyond the trade fair through partnerships that are long-lasting, that deliver trade benefits, create jobs and also contribute to the economic development of this region,” she said.

Held from October 30 to November 8, 2026, the 26th EAC MSMEs Trade Fair brings together about 1,500 exhibitors under the theme “Advancing Regional Value Chains in Leather and Horticulture”. Seven member states are participating, including Rwanda, Kenya, Uganda, Tanzania, Burundi, South Sudan, and Somalia.

The event seeks to strengthen trade among EAC partner states by connecting businesses, expanding market access and supporting the development of regional value chains.

Henry Rithaa (right), Director General and CEO of the Kenya Micro and Small Enterprises Authority (MSEA), engages a trader at the expo in Kigali.

Kenya Day showcased Kenyan products alongside the country’s diverse culture.

November 6, 2026
Kenyan pastor jailed for 200 years over mass starvation deaths

Mackenzie, who led the Good News International Ministries, was convicted alongside 28 accomplices for directing followers to starve themselves and their children to death so they could meet Jesus.

Justice Diana Mochache said Mackenzie bore the primary responsibility for the killings, describing his actions as deliberate and calculated.

“The sentence is appropriate and just, to send an unmistakable message that such atrocities warrant the maximum penalties allowed by law,” she said.

The court imposed 100 years in prison for murder by starvation and another 100 years for offences related to direct homicide. The two sentences will run consecutively, bringing his total prison term to 200 years.

The sentences within each category will run concurrently.

Prosecutors had sought the death penalty, arguing that the scale and circumstances of the killings warranted the harshest possible punishment.

However, Justice Mochache declined to impose capital punishment, saying it would eliminate any possibility of rehabilitation. Kenya has not carried out an execution since 1987.

Mackenzie was arrested in 2023 following the discovery of hundreds of bodies in shallow graves in Shakahola Forest, near the coastal town of Malindi.

The investigation shocked Kenya and drew international attention, with more than 400 bodies eventually recovered from the forest. However, the trial and convictions covered 191 deaths.

Twenty-eight accomplices were also convicted for their roles in the killings and received prison sentences ranging up to 160 years.

They included guards who enforced Mackenzie’s fasting orders and gravediggers who helped conceal victims’ bodies in shallow graves.

The court heard that followers who resisted the instructions to fast were beaten, while children were subjected to prolonged hunger and denied food and water.

Justice Mochache described the killings as cold and calculated, noting that the perpetrators had shown no remorse.

Post-mortem examinations established starvation as the cause of death for most victims, while others died from suffocation, strangulation or head injuries.

Some bodies were too decomposed for the cause of death to be established, while other victims died shortly after being rescued because of severe malnutrition.

Mackenzie and his co-accused had denied the charges, insisting that nobody had been forced to die. His lawyer, Lawrence Obonyo, said the defence would appeal the ruling.

Questions over authorities’ response

The Shakahola killings have raised questions about the oversight of religious organisations and the failure of authorities to act on warnings about the cult’s activities.

Mackenzie had been on the radar of authorities since 2017, when police searched his premises. His church in Malindi was shut down in 2019, after which he moved to Shakahola Forest and encouraged followers to join him.

Investigations by the Kenya National Commission on Human Rights found that local administration and law enforcement officials had repeatedly ignored warning signs.

Francis Wanje, who lost eight relatives, including two grandchildren, in the tragedy, said he had reported the matter to police in March 2023 but expected authorities to intervene sooner.

He told the BBC that he had hoped Mackenzie would receive a sentence that matched the scale of his crimes.

The discoveries prompted President William Ruto to establish a commission of inquiry and later a task force to review the legal and regulatory framework governing religious organisations.

However, the commission was subsequently declared unconstitutional, while proposed reforms to strengthen oversight have yet to be enacted.

The Kenya Human Rights Commission described the convictions as an important step but called for broader accountability, arguing that local administrators, police, intelligence officers and religious leaders had failed to respond to repeated warning signs.

Mackenzie also faces separate manslaughter and terrorism charges, which he denies.

Although the 200-year sentence marks a major development in the Shakahola case, the fate of hundreds of other victims recovered from the forest remains part of the wider tragedy.

Paul Mackenzie, who led the Good News International Ministries, was convicted alongside 28 accomplices for directing followers to starve themselves and their children to death so they could meet Jesus.

November 6, 2026
Living with polio, Hategekimana’s quest to challenge disability stereotypes through journalism

Born in 2000, Hategekimana says he was diagnosed with polio in 2001, despite having received a polio vaccine during infancy. The circumstances surrounding his infection are unclear.

The effects of his condition remain part of his daily life. He says walking long distances, particularly uphill, is difficult because he becomes tired quickly. His mobility is also limited by the cost of transport, sometimes restricting how far he can travel when he cannot afford a motorcycle taxi. He also experiences breathing difficulties and bone pain, challenges he has had to manage while pursuing his education.

Polio is a highly infectious disease caused by a virus that attacks the nervous system and can cause permanent paralysis. According to the World Health Organization (WHO), “one in 200 infections leads to irreversible paralysis.” Among people who develop paralysis, 5–10% die when the muscles responsible for breathing become immobilised.

The disease mainly affects children under five, although unvaccinated people of any age can contract it. There is no cure for polio, but vaccination can prevent the disease.

Hategekimana’s experience was not limited to physical difficulties. During primary school, he says he was bullied because of his disability, an experience that formed part of his childhood.

Despite these challenges, Hategekimana continued with his education. He is now in his fourth year at Mount Kigali University, pursuing a Bachelor of Arts in Mass Media and Communications, a programme that is bringing him closer to a career he has long admired.

Hategekimana says his interest in journalism developed from listening to journalists on the radio.

“I hope to become a journalist and a presenter so I can be the voice for people with disabilities,” he said.

He hopes to become a journalist and presenter, with a particular interest in telling stories that bring attention to the experiences of people with disabilities.

He has already begun putting that interest into practice through his YouTube channel, Twese Turashoboye TV. The channel features interviews in Kinyarwanda, giving him a platform to speak with people and share their different experiences.

His education has also received support from Rulindo District officials, which he says has helped him continue his studies by supporting his tuition costs.

Hategekimana says his experiences have strengthened his desire to speak for people whose stories are often overlooked. He believes people living with disabilities deserve understanding, support and opportunities to participate fully in society.

He urges parents to ensure their children receive all recommended doses of the polio vaccine, stressing the importance of vaccination in protecting children against the disease.

Born in 2000, Olivier Hategekimana says he was diagnosed with polio in 2001, despite having received a polio vaccine during infancy. The circumstances surrounding his infection are unclear.

November 6, 2026
Tanzania opposition leader Tundu Lissu sentenced to four years in prison

The decision was delivered on Friday, November 6, 2026, by a three-judge panel at the High Court’s Dar es Salaam Sub-Registry, led by Justice Dunstan Ndunguru.

The court found that prosecutors had failed to establish an essential element of the treason charge, particularly the intention to threaten the government.

However, the judges found Lissu guilty of incitement after determining that his public statements were intended to mobilise citizens to unlawfully disrupt the electoral process.

During the proceedings, Justice Ndunguru explained that Lissu had made the remarks publicly in the presence of journalists, with the intention of reaching a wider audience.

The judge also referred to evidence from prosecution and defence witnesses who confirmed that the statements had been made.

The case arose from remarks Lissu made on April 3, 2025, at CHADEMA’s headquarters in Dar es Salaam, where he addressed party members and journalists.

Prosecutors argued that he had encouraged citizens to prevent the October 2025 general election and mobilise rebellion.

Among the statements attributed to him were: “We will block the election” and “we will mobilise rebellion”, which formed part of the prosecution’s argument.

Lissu, who chairs Tanzania’s main opposition party, Chama cha Demokrasia na Maendeleo (CHADEMA), denied the allegations and maintained that his statements were politically motivated rather than criminal.

During his final submissions to the court in September, he challenged the prosecution’s interpretation of his remarks, arguing that the case was based on assumptions rather than sufficient evidence.

“I have been prosecuted because of speculation and the law does not permit speculative charges,” Lissu told the court.

The prosecution, however, maintained that the evidence presented during the trial established the allegations against him.

“We submit that the Republic has proved the charge beyond reasonable doubt and ask the court to find that the accused committed the offence”, Senior State Attorney Nassoro Katuga told the court during the final submissions

Lissu was arrested in April 2025 and charged with treason, an offence that carries the death penalty under Tanzanian law.

His arrest became a major issue in Tanzania’s political environment, particularly as tensions surrounding the 2025 elections intensified.

His arrest, the exclusion of CHADEMA from the election and allegations of abductions of government critics are said to have contributed to protests and widespread political unrest during the October 2025 polls.

Hundreds of people died during the violence. A commission appointed by President Samia Suluhu Hassan reported that at least 518 people were killed, while the government rejected allegations by human rights organisations that security forces used excessive force.

Tundu Lissu was arrested in April 2025 and charged with treason, an offence that carries the death penalty under Tanzanian law.

November 6, 2026
Rwanda’s exports to China hit Rwf350bn in six months, surpass 2025 total

Exports reached $142.38 million (about Rwf210.4 billion) in the second quarter, up 248.3% from $40.88 million (about Rwf60.4 billion) recorded during the same period in 2025. First-quarter exports stood at $94.61 million (about Rwf139.8 billion).

If the current pace continues, Rwanda could set a new annual export record in the Chinese market.

Trade between Rwanda and China has expanded significantly in recent years, creating opportunities for Rwandan exporters while strengthening China’s position as a major supplier of goods to Rwanda.

Bilateral trade reached approximately $849 million in 2025, up from $300 million in 2019. Rwanda’s exports to China increased from $35 million to $227 million over the same period, representing growth of approximately 549%.

Registered investment by Chinese companies in Rwanda also rose from $460 million in 2024 to $548.5 million in 2025, an increase of 19%. Chinese businesses operate in sectors including manufacturing, infrastructure, construction, energy and real estate.

The growing commercial relationship is on display in Shanghai, where Rwanda is participating in the ninth China International Import Expo (CIIE), running from November 5 to 10 at the National Exhibition and Convention Center.

Rwanda has participated in the expo since its inaugural edition in 2018. This year’s event has attracted 4,142 overseas exhibitors.

The exhibition spans more than 440,000 square metres, its largest area since the event began. More than 480 products and innovations are making their global, Asian or Chinese market debuts, offering exhibitors opportunities to reach new buyers.

The event brings together 162 countries, regions and international organisations. Its Country Exhibition features 65 countries and four international organisations, while the programme includes 23 themed forums, 80 supporting events and the inaugural Report on Capacity for Exporting to China.

Chinese Vice Premier Ding Xuexiang described the market the expo seeks to connect with, saying: “Today China is both a world factory and a world market.”

At the Rwandan pavilion, businesses are showcasing specialty coffee, tea, chili, dried fruits, natural honey, macadamia nuts and handicrafts.

For Ivan Shema, founder of 1000 Hills Products, the expo presents an opportunity to connect with buyers in Asia.

The company adds value to Rwandan coffee and fruit and has exported coffee to Poland since 2015, from where its products reach other European markets.

At this year’s expo, it is presenting coffee, dried pineapple and mango, as well as fresh avocado.

“We are expecting that we can have a market in China,” Shema told IGIHE, adding that the company is ready to supply both roasted and green coffee.

Rwanda and China are also marking 55 years of diplomatic relations. Rwanda’s participation in the expo builds on the Comprehensive Strategic Partnership announced in September 2024 and cooperation under the Belt and Road Initiative and the Forum on China-Africa Cooperation.

Rwanda’s Ambassador to China, Amb. Lt Gen (Rtd) Emmanuel Karenzi Karake, said CIIE provides local businesses with an important platform to connect with Chinese buyers.

“CIIE has proven to be an invaluable platform for Rwandan enterprises, particularly smallholder farmers and women-led cooperatives, to access the Chinese market and build lasting business partnerships. … Every cup of Rwandan coffee or taste of our honey enjoyed by Chinese consumers represents an opportunity to support Rwandan farmers, families and entrepreneurs,” he said.

Zero tariffs could widen export opportunities

China-Africa trade reached a record $348.05 billion (about Rwf514.4 trillion) in 2025, up 17.7% from the previous year.

China imported $123.02 billion (about Rwf181.8 trillion) worth of African goods while exporting US$225.03 billion (about Rwf332.6 trillion) to the continent.

In Rwanda’s second quarter of 2026, China was the country’s largest source of imports, supplying goods worth $415.89 million (about Rwf614.7 billion).

The figures illustrate the two-way nature of the relationship, with Rwanda exporting agricultural and other products to China while importing a wide range of manufactured goods.

Chinese exports to Rwanda include vehicles, electrical equipment, machinery, construction materials and textiles. In 2025, vehicle exports were valued at approximately $130.45 million (about Rwf192.8 billion), electrical and electronic equipment at $114.65 million (about Rwf169.5 billion), and machinery at $46.62 million (about Rwf68.9 billion).

China imported merchandise worth approximately $2.59 trillion (about Rwf3,828 trillion) in 2025 and exported $3.77 trillion (about Rwf5,572 trillion).

It has remained the world’s second-largest goods importer for 17 consecutive years and is a major export destination for nearly 80 countries.

Ding said China does not deliberately pursue trade surpluses, emphasising the importance of more balanced international trade.

“We pursue a positive, dynamic and upward-oriented trade balance, striving for more balanced, coordinated and inclusive global development,” he said.

An important development for African exporters is China’s zero-tariff treatment for eligible goods.

The policy took effect for qualifying Rwandan products on December 1, 2024. On May 1, 2026, it was extended to all 53 African countries with which China maintains diplomatic relations, subject to applicable rules of origin and product requirements.

China’s Ministry of Commerce said imports from Africa reached $28.61 billion (about Rwf42.3 trillion) in May and June, up 23.5% from the same period in 2025.

During the period, African avocado imports increased by 130%, apple imports by 89.6% and orange imports by 27.9%.

“We will continue hosting the ‘Export-to-China’ series events, import more high-quality goods and services,” Ding said.

China’s expanding consumer market also presents opportunities for exporters. The country projects annual retail sales of consumer goods to reach approximately 60 trillion yuan (about Rwf13,235.7 trillion), while its services sector is expected to exceed 100 trillion yuan (about Rwf22,059.5 trillion) by the end of its 15th Five-Year Plan period.

Trade between Rwanda and China has expanded significantly in recent years, creating opportunities for Rwandan exporters while strengthening China’s position as a major supplier of goods to Rwanda.

Exports reached $142.38 million (about Rwf210.4 billion) in the second quarter, up 248.3% from $40.88 million (about Rwf60.4 billion) recorded during the same period in 2025.

In Rwanda’s second quarter of 2026, China was the country’s largest source of imports, supplying goods worth $415.89 million (about Rwf614.7 billion).

November 6, 2026
Djibril Ouattara extends APR FC contract until 2028

Announcing the deal, APR FC highlighted the striker’s contribution, revealing that he has scored 60 goals and provided seven assists since joining the club.

“The numbers speak. The commitment remains. The ambition continues!” the club announced.

In September 2026, Ouattara confirmed that he was in negotiations with APR FC over a possible extension, despite interest from several other clubs.

The striker has also earned several individual accolades during his time with the military side, including the Golden Boot at the 2026 CECAFA Kagame Cup and the top scorer award in the 2025/26 BK Pro League.

At team level, he has helped APR FC win back-to-back Rwanda Premier League titles in the 2024/25 and 2025/26 seasons, the 2025/26 Peace Cup and the 2025 FERWAFA Super Cup.

Ouattara also played a key role in APR FC’s 2026/27 CAF Champions League campaign, scoring twice as the club defeated DR Congo’s Les Aigles du Congo 3-1 on aggregate in the preliminary round.

However, APR FC’s continental campaign ended in the second preliminary round after they were eliminated by Egyptian side Zamalek SC.

Announcing the deal, APR FC highlighted the striker’s contribution, revealing that he has scored 60 goals and provided seven assists since joining the club.

APR FC captain and striker Djibril Ouattara has signed a two-year contract extension, keeping him at the club until 2028.

Djibril Ouattara has been a key striker for APR FC.

Djibril Ouattara has helped APR FC win several trophies.

November 6, 2026
Equity Bank Rwanda unveils ‘EMMA’ digital account linking payments, savings and credit

Introduced under the promise “Designed for All. Perfectly Tuned to You” (Ni Iyawe), EMMA was launched in Kigali on Thursday, November 5, 2026. The platform allows customers to send and receive money, pay for goods and services, save and access digital loans through a mobile application or USSD code (*555*6#), without necessarily having an existing Equity Bank account.

The platform connects users to participating banks and mobile money providers, including MTN MoMo and Airtel Money, through Rwanda’s national digital payment and retail interoperability eKash system, enabling transactions across supported networks.

Equity Bank Rwanda Managing Director Hannington Namara said the platform responds to a gap between widespread access to digital payments and the ability to obtain financial resources to invest in personal and business ambitions.

He cited figures from the 2024 FinScope survey showing that 96% of Rwandan adults are financially included, while only about 22% hold formal bank accounts.

Namara argued that access to mobile money does not necessarily translate into access to capital, noting that the bank wants to move beyond financial inclusion towards what he described as economic inclusion.

“Financial inclusion has been done by many. At Equity, we want to deliver economic inclusion,” he said.

He explained that the bank intends to use customers’ transaction histories to assess their creditworthiness, potentially allowing them to access loans without providing traditional collateral or going through lengthy paperwork.

“The end in mind with EMMA is that your transaction history, or your transaction data, will be your collateral,” Namara said.

Under this approach, customers who consistently use the platform would build financial records that the bank could use to determine their borrowing limits.

Namara said the ambition is to make access to credit as straightforward as purchasing airtime or paying for electricity.

Bringing banking into everyday transactions

The app also allows customers to pay merchants directly from their EMMA accounts, including businesses using mobile money merchant codes, without first transferring funds to another wallet.

The account has no minimum opening balance or monthly maintenance fees. Transfers between EMMA users, payments to Equity accounts, deposits through approved agents, airtime purchases and payments to merchants connected to eKash are free.

Transfers to participating external banks and mobile money wallets attract a flat fee of Rwf20, while standard charges apply to cash withdrawals and specified services.

Namara said the platform was designed to address the limitations of traditional banking, where customers often turn to mobile money services outside banking hours.

“For a long time, banks have been accused of not being daily relevant. When we close doors in the evening, people retreat to mobile money. Weekends, public holidays, we were not as relevant as banks,” he said.

He added that the bank wants customers to access financial services whenever they need them, rather than being restricted by conventional banking hours.

“Your money has a lot to do, so it deserves an account that does more,” Namara said.

Beyond payments, EMMA offers Regular Savings and Term Savings accounts for customers seeking to build capital for planned expenses, including school fees and business investments.

Eligible customers can also access an overdraft facility to meet short-term financial needs, including working capital requirements. Digital loans are also available to eligible users, with borrowing amounts, repayment periods and total charges disclosed before acceptance.

Targeting farmers, entrepreneurs and content creators

The platform also includes dedicated services targeting specific economic groups.

Through EquiFarm, verified farmers linked to agricultural anchors can receive payments for their harvests, purchase certified agricultural inputs and access tailored agricultural financing.

EMMA also provides group accounts for collective financial goals, humanitarian and social protection accounts for targeted welfare payments, and device financing for eligible customers purchasing from certified suppliers.

The bank is also looking to expand its presence in the creative and media industries.

During the launch, Rita Okuthe, Commercial Director at Equity Technology Group, announced a partnership with Zinc Events, saying the bank wants to develop financial services that respond to the needs of people working in the creative industry.

Namara added that Equity is developing capabilities that will allow content creators to monetise their work through the platform.

The bank also plans to introduce additional international payment capabilities, including Apple Pay, Alipay and PayPal.

Rwanda first launch market

EMMA is being introduced in Rwanda before its planned expansion into other African markets where Equity Group operates.

Okuthe said Rwanda was chosen as the first market for EMMA because of its favourable environment for financial innovation and secure digital transactions.

Namara said the platform would continue evolving based on customer feedback, noting that additional services would be introduced as the bank expands its capabilities.

Customers aged 18 and above can open an account using an active mobile number and a National ID, Foreign ID or Refugee ID. Customers can register through the EMMA app or seek assistance at an authorised Equity onboarding channel, agent or branch.

Customers under 18 follow a separate guardian-led Junior Wallet journey, while sole traders and registered organisations may require additional documents or assisted onboarding.

Introduced under the promise “Designed for All. Perfectly Tuned to You” (Ni Iyawe), EMMA was launched in Kigali on Thursday, November 5, 2026.

The platform connects users to participating banks and mobile money providers, including MTN MoMo and Airtel Money, through Rwanda’s national digital payment and retail interoperability eKash system, enabling transactions across supported networks.

Beyond payments, EMMA offers Regular Savings and Term Savings accounts for customers seeking to build capital for planned expenses, including school fees and business investments.

The highly engaging and vibrant launch featured a range of games for attendees.

EMMA is being introduced in Rwanda before its planned expansion into other African markets where Equity Group operates.

November 6, 2026
Rwanda’s central bank governor wins continental award for leadership in finance

Hakuziyaremye received the African Woman in Finance Award during a ceremony held in Luanda, Angola, on November 3, 2026, bringing recognition to Rwanda’s financial sector at one of the continent’s leading financial industry gatherings.

The award recognises Hakuziyaremye’s exemplary leadership in advancing Rwanda’s financial sector, monetary stability, and inclusive growth.

The National Bank of Rwanda (BNR) welcomed the recognition, noting that it celebrates Hakuziyaremye’s contributions to Rwanda’s financial sector and highlights the growing role of African women in shaping the future of finance across the continent.

The awards are organised by Jeune Afrique Media Group in partnership with auditing firm Forvis Mazars. They recognise individuals and institutions making significant contributions to Africa’s financial industry, including banking, insurance, investment and financial technology.

This year’s ceremony took place during the Africa Financial Summit under the theme “Making Capital Count”, which focused on the role of capital in driving economic growth and development across the continent.

Hakuziyaremye was among several prominent figures recognised at the awards.

Mary Vilakazi, Chief Executive Officer of South Africa’s FirstRand Group, received the African Banker Award for her leadership in executing the group’s strategy and strengthening its position in key markets.

Manuel António Tiago Dias, Governor of the National Bank of Angola, was named African Central Bank Governor, following efforts to strengthen monetary stability and reduce inflation in Angola.

Other winners included Wave Mobile Money, which received the African Disrupter Award for its contribution to expanding digital financial services in West Africa, and Development Partners International, named African Fund for its investments in businesses across the continent.

Jurie Strydom, Chief Executive Officer of Old Mutual, received the African Insurer Award in recognition of his leadership in the insurance and banking sectors.

President Paul Kagame appointed Hakuziyaremye Governor of the National Bank of Rwanda on February 25, 2025, making her the first woman to head the institution. She previously served as Deputy Governor from March 2021 and Minister of Trade and Industry between October 2018 and March 2021. Before joining government, she held senior positions in international banking, including Vice President in the Financial Institutions and Financial Markets Risk Department at ING Bank in London.

She also worked in senior risk management roles at BNP Paribas Group in Paris, Fortis Bank and Bank of New York Mellon in Brussels, and served as Senior Advisor to Rwanda’s Minister of Foreign Affairs from 2012 to 2014.

The central bank chief’s recognition comes as Rwanda continues to pursue reforms aimed at strengthening its financial sector, expanding financial inclusion and increasing access to digital financial services.

Governor Hakuziyaremye received the African Woman in Finance Award during a ceremony held in Luanda, Angola, on November 3, 2026, bringing recognition to Rwanda’s financial sector at one of the continent’s leading financial industry gatherings.

November 5, 2026
Trump concedes Iran war cost Republicans in midterm elections

Trump made the admission after Vice-President JD Vance attributed the party’s defeat to the conflict, which has become a major source of political frustration among voters.

Asked about Vance’s assessment, Trump said it was “largely true”, although he maintained that the military campaign was justified to prevent Iran from acquiring nuclear weapons.

He described the decision as “worth it”, signalling that despite the electoral consequences, he had no regrets about the war.

The Democratic victory gives the party control of the House of Representatives and the Senate, setting the stage for a more difficult political environment for Trump during the remainder of his presidency.

Democrats secured at least seven Senate seats previously held by Republicans, making gains in traditionally Republican strongholds including Kansas and Texas. They also flipped more than two dozen House districts, including constituencies that had strongly backed Trump in the 2024 presidential election.

The results have prompted criticism within Republican ranks, with some party members blaming Trump’s policies and political priorities for the scale of the defeat.

Republican operatives and campaign officials cited the Iran war, rising gasoline prices, tariffs and the administration’s immigration crackdown as factors that weakened the party’s appeal among voters. Trump had repeatedly downplayed concerns over fuel costs and dismissed affordability concerns as a Democratic hoax, a position that further fuelled frustration among voters.

A White House ally described the combination of these issues as a “perfect storm” that contributed to the November defeat, adding that frustration within the party was increasingly directed at Trump.

In Texas, Republican lobbyist Bill Miller described the outcome as a major rejection of the president.

“It’s on him. It’s not on anybody else. It’s a total, complete rejection of President Trump,” Miller told the BBC.

Other Republicans argued that the party had fielded weak candidates in competitive states, while Trump’s involvement in some races had complicated their campaigns.

In Texas, Attorney General Ken Paxton, whom Trump endorsed for the Senate race, lost to Democrat James Talarico. Some Republican operatives criticised Paxton’s campaign, arguing that it failed to mobilise enough voters.

Trump, however, rejected the suggestion that the results represented a personal setback, shifting much of the responsibility to Republican candidates.

“I don’t view it as a hit on me,” he told Fox News, insisting that his administration had delivered strong economic results and achievements.

He also argued that some candidates had failed to inspire voters and pointed to the historical tendency for the president’s party to lose seats during midterm elections.

Trump had repeatedly urged supporters to vote as though he were personally on the ballot, making dozens of campaign appearances alongside Vice-President Vance in the run-up to the elections.

However, his efforts failed to prevent Democrats from making substantial gains, including in states where they had struggled to win statewide contests for decades.

Before the election, Democrats had not won a Senate seat in Kansas since 1932, while their victories in Texas and South Carolina further demonstrated the extent of Republican losses.

The outcome is expected to complicate Trump’s legislative agenda, with Democrats preparing to use their newly acquired congressional majorities to scrutinise his administration and challenge its policies.

Democratic Senate Minority Leader Chuck Schumer said the party would use Congress’s spending powers to pressure the administration over the war in Iran.

Schumer and House Democratic Leader Hakeem Jeffries also identified affordability as a priority, seeking to address concerns over the rising cost of living that featured prominently during the campaigns.

Trump, meanwhile, has signalled willingness to work with Democrats, saying he would accept the election results and explore areas of cooperation with political opponents.

He told Fox News that he had already spoken with some Democrats, although he did not identify them.

The election has also revived questions about the Republican Party’s direction ahead of the 2028 presidential race, with some party members suggesting the defeat should prompt a reassessment of its political strategy.

Republican officials have already begun discussing possible successors to Trump, with Vice-President JD Vance, Secretary of State Marco Rubio and Senator Ted Cruz among the names mentioned as potential contenders.

For now, the Democratic takeover of Congress leaves Trump facing a more assertive opposition, with the Iran war emerging as one of the central issues shaping the political consequences of his second term.

US President Donald Trump has acknowledged that the war in Iran contributed to Republican losses in the November 3 midterm elections, which saw Democrats take control of both chambers of Congress in a major setback for his administration.

November 4, 2026
AfCFTA calls on African businesses to look inward amid AGOA restrictions

Abibata Shanni Mahama, Senior Advisor for Micro, Small and Medium Enterprises (MSMEs) Development in the Office of the AfCFTA Secretary General, said African countries should use the changing trade environment to expand intra-African commerce rather than depend heavily on external markets.

Her remarks come after the United States announced plans to terminate Rwanda and South Africa’s eligibility for preferential access to its market under the African Growth and Opportunity Act (AGOA), effective January 1, 2027.

AGOA, introduced in 2000, allows eligible sub-Saharan African countries to export more than 1,800 products to the US without paying import duties.

The Trump administration said its decision followed concerns that the two countries were engaging in practices inconsistent with the programme’s eligibility requirements, including barriers to American trade and investment and issues relating to US national security and foreign policy interests.

Rwanda had previously faced US trade restrictions under AGOA in 2018 after raising tariffs on imported second-hand clothes and shoes to protect its domestic textile and garment industry. Washington suspended duty-free access for Rwandan apparel exports, although the country retained AGOA benefits for other products.

President Paul Kagame defended the decision, arguing that Rwanda needed to build its own manufacturing capacity rather than continue relying on imported used clothing. He maintained that the country was prepared to face the consequences, saying the priority was to grow and establish local industries.

Speaking to IGIHE in Kigali on Wednesday, November 4, 2026, during the AfCFTA SME Booster Programme’s East African regional cohort, Mahama argued that the developments should encourage African countries to make better use of opportunities within their own markets.

“With AGOA and other initiatives that were cancelled by the current administration of America, it is the more reason why we are encouraging ourselves to trade within,” she said.

Mahama argued that African countries already have significant demand for products traded with markets outside the continent, creating opportunities for businesses to supply one another.

“Whatever we are sending to America and Europe, there are things that amongst us we also need. Demand is high for those things,” Mahama added.

She also highlighted that stronger intra-African trade could reduce the exposure of businesses to changing trade policies in external markets while creating opportunities for producers to expand their customer base.

Nomalanga Gule, Regional Trade Advisor for Southern and East Africa, said the changing international trade environment should encourage African businesses to reconsider their reliance on markets outside the continent.

She argued that Africa has sufficient resources and market potential to support stronger commercial relationships among its countries, including through processing raw materials and developing products for regional consumers.

“We have got enough in Africa that can be traded in Africa and not needing support or trade, opening of trade markets from other parts of the world,” Gule said.

She cited examples of existing trade relationships, including Ugandan milk exports to North Africa and Kenyan businesses establishing commercial connections with West African markets.

According to Gule, more than 60% of businesses using the AfCFTA framework are small and medium-sized enterprises, highlighting the importance of helping smaller businesses access the continental market.

However, she acknowledged that awareness of the agreement has not yet translated into an equivalent level of business participation, noting that companies are still learning how to use its provisions.

John Bosco Rukundo, an Economic Specialist at the United Nations Development Programme (UNDP), said the AfCFTA’s ambition of creating a single African market would not be realised through trade agreements alone. Businesses must also have the capacity to compete, meet market requirements and navigate trade procedures.

He identified limited access to finance, technology, market intelligence, productive capacity, standards, certification and logistics among the barriers preventing small businesses from expanding into regional markets. He added that business support organisations should go beyond providing information to helping enterprises prepare for exports, identify market opportunities and connect with potential buyers.

The AfCFTA Secretariat is seeking to address some of these challenges through its SME Booster Programme, which brings together enterprises and business support organisations to strengthen export readiness and facilitate access to buyers, financiers and distributors.

The East African regional cohort being held on the sidelines of the 26th East African Community MSME Trade Fair, focuses on areas including product standards, certification, packaging, trade documentation, market intelligence and access to finance.

The Kigali meeting builds on lessons from four previous cohorts held in West Africa, Southern Africa, Central Africa and North Africa, making it the fifth and final regional activation of the AfCFTA SME Booster Programme.

The initiative focuses on helping small businesses in priority value chains, including coffee, tea, horticulture, fisheries and aquaculture, dairy, leather, textiles and apparel, oil seeds, natural cosmetics and spices, to improve their export readiness and access markets across the continent.

The initiative also seeks to connect participating businesses to the AfCFTA Deal Room, a platform designed to facilitate buyer matchmaking, supplier onboarding and commercial partnerships.

Mahama said the programme was intended to move beyond training and help businesses convert opportunities into actual transactions.

During Biashara Afrika 2026, the Deal Room identified 38 business opportunities valued at an estimated $2.77 million across eight countries and six sectors. Sixteen meetings were scheduled, while transactions worth $500,000 were concluded during the event.

For Rwanda, the push to expand intra-African trade presents an opportunity to reach markets beyond its relatively small domestic economy.

Nathan Gashayija, Chief Executive Officer of the Council of Small and Medium Enterprises of Rwanda, said some local businesses were already exporting coffee and other products to Ghana, while others were registering under the AfCFTA trading framework.

However, he noted that limited business capacity, inadequate knowledge of trade requirements and skills gaps were preventing more companies from taking advantage of the expanded market.

He said improving businesses’ understanding of rules of origin, certificates of origin, tariffs and digital trade tools would be essential to increasing Rwanda’s participation.

Diane Bampire, a representative of Kigali-based OME Group Ltd, which produces mushroom cookies, porridge and spices, said she hoped the forum would help her find business partners and distributors in other African markets. The company has participated in exhibitions in Kenya, Uganda, Togo and Nigeria as it seeks to expand beyond Rwanda.

“I’m eager to see if I can get partners,” she stated, explaining that working with distributors in other countries would allow the company to reach new markets without having to transport products there itself.

The AfCFTA brings together a market of more than 1.4 billion people, with a combined gross domestic product exceeding $3.4 trillion. As of September 2026, 50 countries had ratified the agreement, creating a framework for African businesses to expand beyond their national markets and access opportunities across the continent.

For the Secretariat, the challenge now is to ensure that the continental trade framework translates into greater commercial participation, stronger regional value chains and increased trade among African countries.

Abibata Shanni Mahama, Senior Advisor for Micro, Small and Medium Enterprises (MSMEs) Development in the Office of the AfCFTA Secretary General, said African countries should use the changing trade environment to expand intra-African commerce rather than depend heavily on external markets.

The AfCFTA SME Booster Programme’s East African regional cohort is being held at the Kigali Marriott Hotel.

Nomalanga Gule, Regional Trade Advisor for Southern and East Africa, said the changing international trade environment should encourage African businesses to reconsider their reliance on markets outside the continent.

Nathan Gashayija, Chief Executive Officer of the Council of Small and Medium Enterprises of Rwanda, said some local businesses were already exporting coffee and other products to Ghana, while others were registering under the AfCFTA trading framework.

Diane Bampire, a representative of Kigali-based OME Group Ltd, which produces mushroom cookies, porridge and spices, said she hoped the forum would help her find business partners and distributors in other African markets.

John Bosco Rukundo, Economic Specialist at UNDP, speaks at the AfCFTA SME Booster Programme’s East African regional cohort in Kigali, calling for greater support to help small businesses compete in African markets.

November 4, 2026