Led by Chief Executive Officer Romeo Ngarambe, the delegation held talks with the Nigerian Exchange Group and the Central Securities Clearing System in Lagos, drawing lessons from one of Africa’s largest capital markets.
At the Nigerian Exchange Group, the delegation met Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, and Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group. The discussions covered market regulation, trading systems, investor access and opportunities for closer links between African exchanges.
The institutions also examined cooperation through the African Securities Exchanges Association and the African Exchange Linkage Project, which is designed to enable investors to access securities listed across participating markets.
Greater cross-border market access could widen the pool of investors available to Rwandan companies, support capital raising and improve the movement of investment funds between African economies.
During discussions with the Central Securities Clearing System, the delegation reviewed Nigeria’s experience in securities depository services, settlement-cycle reform, market dematerialisation, risk management and post-trade technology.
The engagement included lessons from Nigeria’s move to a T+1 settlement cycle, where securities transactions are completed one business day after trading. Faster settlement can reduce transaction risks, improve market efficiency and allow investors to access their securities and funds sooner.
Ngarambe said cooperation between African institutions was essential to building stronger and more accessible markets.
“African capital markets can grow faster when institutions share experience and adapt solutions that have worked on the continent. Our objective is to build efficient, trusted and accessible market infrastructure that supports investment in Rwanda and regional integration,” he said.
The delegation also held engagements with Nigeria’s Securities and Exchange Commission and Debt Management Office.
CMA Rwanda said lessons from the mission would support ongoing efforts to strengthen supervision, improve market infrastructure, expand investment products and attract domestic and international investors.
The cooperation is expected to contribute to a more connected African capital market in which businesses can access long-term financing and investors can participate in opportunities beyond their domestic markets.
The mission, led by CMA Chief Executive Officer Romeo Ngarambe, took place in Lagos where the delegation held engagements with key Nigerian financial market institutions
The exhibition, which opened on Thursday, has also brought together more than 30 Rwandan coffee companies involved in coffee processing, exporting, and trading.
World of Coffee serves as a global platform where coffee producers, traders, buyers, and industry professionals exchange knowledge, explore new business opportunities, and strengthen partnerships.
For Rwanda, the event offers an important opportunity to expand export markets while showcasing the exceptional quality of Rwandan coffee to an international audience.
The three-day exhibition is being held at Brussels Expo and will conclude on June 27, 2026.
Thousands of participants from across the world, including coffee farmers, exporters, roasters, buyers, investors, and industry experts, are attending the event.
This marks the first time that World of Coffee has been hosted in Belgium.
Throughout the exhibition, participants will take part in business meetings, panel discussions, coffee tastings, international competitions, and networking sessions designed to foster collaboration across the global coffee sector.
Rwanda’s participation is part of its broader strategy to strengthen its position among the world’s leading producers of high-quality specialty coffee.
The country is showcasing the expertise of its coffee farmers, processors, cooperatives, and exporting companies, all of which play a vital role in the growth of Rwanda’s coffee industry and the national economy.
Europe remains Rwanda’s largest coffee export market, accounting for about 60% of total shipments, making the Brussels platform particularly important for deepening existing trade links and exploring new premium opportunities.
The participation comes at a time when Rwanda’s coffee sector is experiencing strong growth, generating a record $148.6 million in export revenues in 2025, a 65% increase compared to the previous year.
Photos from the opening day of the exhibition:
More than 30 Rwandan coffee companies involved in processing, exporting, and trading are participating.
World of Coffee serves as a global platform where coffee producers, traders, buyers, and industry professionals exchange knowledge, explore new business opportunities, and strengthen partnerships.For Rwanda, the event offers an important opportunity to expand export markets while showcasing the exceptional quality of Rwandan coffee to an international audience.
Designed for ambitious entrepreneurs ready to grow, the SIYB and DYB programmes equip participants with practical business and digital skills to strengthen their businesses, reach more customers, and unlock new opportunities in today’s digital economy.
The first phase of the programme brought together 125 entrepreneurs from Musanze, Huye, and Muhanga districts, all eager to learn, innovate, and grow. Over five days of intensive training, followed by six months of mentorship and business support, participants gained practical skills they could immediately apply to their businesses.
The impact is already visible.
The programme is already delivering results. Six months after the training, the endline survey showed that the share of entrepreneurs achieving stronger sales performance increased from 46.4% to 60.7%, while all surveyed businesses remained operational, demonstrating strong business growth and resilience.
But beyond the numbers are inspiring stories of transformation.
For Arsène Karambizi, Founder and Creative Director of The Noir Studios, the programme provided fresh insights into business growth and customer engagement.
“The training strengthened my understanding of business planning and market readiness strategies. It helped us shape a different service approach for our customers by ensuring that we use local context in our digital storytelling and communication services.”
For Hope Gloire Umwizerwa, Founder of Ubwuzu Events, the training helped unlock new opportunities for growth.
“The SIYB/DYB training transformed the way I run my business by equipping me with skills in business planning, financial management, leadership, and digitalization. Today, Ubwuzu Events has grown, strengthened its services, and created employment opportunities. I am sincerely grateful to the SIYB/DYB organizers and partners for investing in entrepreneurs like me and helping build a stronger future for our businesses.”
These stories reflect a growing community of entrepreneurs who are turning ideas into action, embracing innovation, and creating opportunities for themselves and others.
Following the success of the first phase, ILO and KinaRwanda have opened applications for the next phase of the SIYB and DYB programmes, which will be delivered in Kigali, Kayonza, and Nyagatare.
The new phase will support 425 entrepreneurs with practical business and digital skills, mentorship, and tools to grow their businesses. Whether you’re running a business, growing a side hustle, or pursuing a big idea, this is your chance to learn, connect, and grow.
Designed for ambitious entrepreneurs ready to grow, the SIYB and DYB programmes equip participants with practical business and digital skills.For Arsène Karambizi, Founder and Creative Director of The Noir Studios, the programme provided fresh insights into business growth and customer engagement.The first phase of the programme brought together 125 entrepreneurs from Musanze, Huye, and Muhanga districts.Over five days of intensive training, followed by six months of mentorship and business support, participants gained practical skills they could immediately apply to their businesses.
The projects were funded under the Innovation Challenge Fund, an initiative implemented through the Commercialization and De-Risking for Agricultural Transformation (CDAT) program at the Rwanda Agriculture and Animal Resources Development Board (RAB).
Launched in late 2025, the programme supports innovative agricultural solutions that leverage technology to address challenges across the farming value chain. To date, beneficiaries have received about Rwf438 million, representing 45 percent of the total funding allocated.
Funding is tailored to the needs of each project, with grants ranging between Rwf60 million and Rwf130 million, disbursed in three phases.
The selected innovations span several areas, including smart irrigation systems, digital marketplaces for agricultural products, farmer data management platforms, technology-enabled greenhouse farming, and other solutions designed to boost agricultural productivity and market access.
Among the beneficiaries is Extra Technologies, a company that has developed a digital platform to help cooperatives manage member information and streamline operations.
The platform enables agricultural cooperatives to digitize records and maintain comprehensive profiles of their members, replacing traditional paper-based systems.
According to the company’s founder and Chief Executive Officer, Frank Muhiza, the application records all information related to cooperative members and their activities.
“The application stores all information related to a cooperative member and their activities. It enables members to apply for loans based on their production records, purchase insurance, and communicate directly with cooperative leaders,” Muhiza said.
The platform also serves a broader ecosystem of stakeholders. Financial institutions can use the data to assess farmers’ creditworthiness, insurance providers can evaluate clients, while government agencies and development partners can access relevant information to support their programmes.
Muhiza noted that the company has already introduced technology-driven weighing systems for tea farmers in Nyamasheke District.
“For tea farmers in Nyamasheke that we work with, we provided digital weighing scales. When farmers bring their harvest, the produce is weighed and the information is automatically recorded without requiring anyone to enter it manually. The data is instantly uploaded to the application and cannot be altered,” he explained.
The system automatically calculates payments due to farmers after deductions and allows farmers to monitor transactions through their mobile phones.
By integrating production, financial and market data into a single platform, the technology eliminates the need for manual record-keeping and simplifies information sharing among stakeholders.
The platform also supports market linkages by providing buyers with real-time information about available produce, enabling them to identify and source products directly through the system.
In addition, cooperative payments are processed digitally, allowing deductions for loan repayments and contributions to programmes such as Ejo Heza and community-based health insurance schemes.
“This technology brings together services that farmers often access separately, including financing, social security contributions and market access,” Muhiza said.
Extra Technologies generates revenue through subscription fees paid by cooperatives and other institutions that utilize the platform’s data and services.
The company says support received through the CDAT Innovation Challenge Fund has enabled it to expand its operations by approximately 70 percent, including reaching more cooperatives and acquiring additional equipment.
Currently, Extra Technologies works with 210 cooperatives across 14 districts and employs 12 permanent staff members alongside 24 temporary workers.
Nyamasheke tea farmers embrace technology for tracking and managing harvest data.Agri-tech projects continue to receive support from CDAT.Frank Muhiza, founder and CEO of Extra Technologies, said the platform serves as a one-stop solution for services that users previously accessed separately.
Modern weighing scales used to record and manage farmers’ production data.
The awards ceremony, held on June 24, 2026, marked the formal close of the current agricultural season.
ETG operates on a structured partnership model where agro-dealers sign supply agreements mapped to specific sales targets. The benchmarks serve as the primary metrics for assessing dealer performance, with the highest achievers receiving annual recognition.
Among the winners was Nzabanita Sabin, an agro-dealer from Nyagatare District, who set an ambitious target to sell 200 tonnes of inputs this season, a milestone he didn’t just meet, but actively surpassed.
“This award is incredibly motivating and pushes me to work even harder,” Sabin said. “I plan to reinvest the cash prize directly back into expanding my stock so I can secure a spot among the top performers again next season.”
For Sarah Mushimiyimana, also operating out of Nyagatare District, the partnership with ETG has been entirely transformative for her business capacity.
“I started selling agricultural inputs back in 2021. At the time, people discouraged me and told me I would fail,” Mushimiyimana recalled. “I started with just a single shop. Today, thanks to my partnership with ETG, I operate three distinct locations.”
Empowering women in agribusiness
The event also highlighted the growing impact of women in Rwanda’s agricultural supply chain. Ingabire Joyce, a winning dealer from Burera District, used the platform to encourage more women to confidently enter the agricultural sector.
“When I started, I was operating at a very low level, selling just three to five tonnes per season, and sometimes struggling to recover my costs before the next cycle,” Joyce shared. “But after partnering with ETG, I now own a thriving shop valued at Rwf 8 million. I encourage other women to be bold and take action. You only truly understand the potential of this business once you dive in.”
The awarded dealers largely attributed their high sales volumes to the market reputation of ETG’s inventory, noting that the products are high-quality and fast-moving. ETG’s diverse portfolio features more than 200 types of agricultural inputs, including fertilizers under the premium Falcon and Kynoch brands, alongside seeds, pesticides, and specialized fertilizers and machinery like seeders and irrigation equipment.
Driving national agricultural transformation
The Managing Director of ETG Rwanda, Vishal Patel, said the awards recognize not only sales performance but also the dealers’ contribution to agricultural transformation.
“Through their vital role in the agricultural value chain, these partners have directly contributed to increased crop productivity, improved food security, and better livelihoods for rural farming communities,” the Managing Director stated.
“This event allowed us to strengthen our network, recognize real achievements, and reaffirm our shared commitment to promoting sustainable agriculture across Rwanda.”
He further revealed the massive scale of their distribution network, noting that ETG products successfully reached 1.2 million farmers during the last agricultural season alone.
The Managing Director also encouraged agro-dealers and professionals who have not yet partnered with ETG to consider joining the company, describing it as an organization driven by innovation, integrity, and a strong sense of purpose.
“For those who have not yet started working with ETG, I would say this: ETG is more than just a company, it is a place where innovation, integrity, and purpose come together,” he said.
He noted that the company is committed to empowering farmers, strengthening agricultural value chains, and driving sustainable growth in communities across the country.
According to him, working with ETG offers an opportunity to be part of an organization that values teamwork, continuous learning, and excellence while contributing to food security and economic development.
“If you are looking for an opportunity to grow professionally while contributing to a greater purpose, ETG is the right place to begin your journey. If farmers grow, we grow too,” he said.
He added that ETG’s vision is to create a sustainable impact in the lives of farmers and promote what the company describes as “360-degree happiness” across the agricultural ecosystem.
ETG works with 2,200 agro-dealers across Rwanda and operates more than 15 branches nationwide.
Leading agricultural inputs provider ETG Inputs Ltd, a member of the global Export Trading Group (ETG), has distributed over Rwf 7 million in cash prizes and 10 Fertilizer cum seeds Planter machines to its top-performing agro-dealers, celebrating their exceptional fertilizer sales records.The awards ceremony, held on June 24, 2026, marked the formal close of the current agricultural season.The Managing Director of ETG Rwanda, Vishal Patel, said the awards recognize not only sales performance but also the dealers’ contribution to agricultural transformation.ETG operates on a structured partnership model where agro-dealers sign supply agreements mapped to specific sales targets. The benchmarks serve as the primary metrics for assessing dealer performance, with the highest achievers receiving annual recognition.
The budget law was passed during a plenary sitting attended by 63 lawmakers on June 24, following the initial presentation by the Minister of Finance and Economic Planning, Yusuf Murangwa.
The approved budget represents a 12% increase from the revised 2025/26 budget approved in February, which stood at Rwf 6,952.1 billion. Total government spending is set to rise by roughly Rwf 844.2 billion to hit the new Rwf 7.796 trillion ceiling.
According to Parliament’s Budget Committee Chairperson, Odette Uwamariya, the financing structure reflects Rwanda’s solid path toward economic self-reliance. Total domestic resources, consisting of tax and non-tax revenues, will cover 64.3% of the entire budget envelope. When combined with domestic borrowing, internal financing funds 67.7% of national expenditure, meaning that roughly 68% of the budget is self-funded, while external loans and grants cover the remaining 32%.
In the finalized financing breakdown, tax revenues will contribute 56.8% of the total budget, while non-tax revenues will account for 7.5%. External borrowing through foreign loans is projected to provide 25.3% of the funding, while foreign grants will cover 7.0%. The remaining 3.4% of the budget will be financed through domestic borrowing.
Unlike earlier draft iterations, the finalized budget prioritizes robust operational and strategic execution across public institutions by dividing expenditure clearly between day-to-day costs and capital investments.
The recurrent budget, which covers operational costs and civil service salaries, has been set at Rwf 4,785.5 billion, representing 61.4% of total expenditure. The development budget, which is dedicated to public and capital infrastructure projects, stands at Rwf 3,010.8 billion, equivalent to 38.6% of the total envelope.
The spending structure closely aligns with the strategic pillars of the Second National Strategy for Transformation. The Economic Transformation Pillar receives the largest share, totaling Rwf 4,900.9 billion, or 63% of the entire budget. Under this pillar, priorities include boosting inclusive growth in agriculture and livestock production, promoting local industrialization, expanding electricity and clean water access, strengthening climate resilience, and creating decent jobs.
The Social Transformation Pillar has been allocated Rwf 1,711.3 billion, representing 22% of the budget. Funding in this segment will focus on improving education quality, upgrading healthcare infrastructure, expanding early childhood development centers to combat malnutrition, and supporting social protection programs to lift vulnerable households out of poverty.
The Transformational Governance Pillar has been allocated Rwf 1,184.0 billion, which accounts for the remaining 15% of the spending. This allocation will prioritize improving public service delivery, strengthening public financial management, promoting justice and the rule of law, and safeguarding national peace and security.
Committee Chairperson Uwamariya noted that while Rwanda’s budget expands annually, public development needs are growing rapidly as the country pursues ambitious socioeconomic targets. Following rigorous institutional consultations, Parliament reallocated approximately Rwf 400 billion from lower-priority operational areas to urgent public programs.
As part of these parliamentary adjustments, agriculture and livestock support received a crucial supplementary boost of Rwf 3.08 billion to finalize its core footprint. A major win in this sector allocation is the substantial expansion of agricultural fertilizer subsidies, which nearly doubled from Rwf 39 billion in the previous fiscal year to Rwf 64 billion to counter rising costs on international markets. Funding for social protection safety nets targeting vulnerable populations was also increased by Rwf 4.3 billion to secure a stronger social support floor.
The transport sector’s immediate development allocation for the 2026/27 fiscal year adjusted to Rwf 305.3 billion. This localized reduction reflects the successful completion of several major infrastructure projects alongside strategic transitions toward new investments. Despite this short-term consolidation, medium-term expenditure projections indicate aggressive growth in infrastructure spending.
Transport networks are slated to scale up with planned increases of Rwf 83.8 billion in the 2027/28 fiscal year and Rwf 92.6 billion in the 2028/29 fiscal year to fund key arterial links, feeder roads, and logistics infrastructure supporting the new Bugesera International Airport.
The budget law was passed during a plenary sitting attended by 63 lawmakers on June 24, following the initial presentation by the Minister of Finance and Economic Planning, Yusuf Murangwa.
Under the initiative launched on Monday, shareholders can trade shares at a price ranging between RWF 2,371 and RWF 2,906 per share, subject to a 10% tax deduction.
Shareholders interested in buying or selling shares are required to complete the relevant application forms available through BPR Bank Rwanda’s share trading portal and submit them, together with identification documents, either via email or through any BPR branch. Following verification, applications will be forwarded to BK Capital, which will act as an intermediary matching buyers and sellers.
Participants may specify a preferred trading price within the approved range or authorize BK Capital to execute transactions at the most competitive price available.
Addressing longstanding shareholder needs
Speaking during the launch, BPR Bank Rwanda Managing Director Patience Mutesi said the initiative responds to requests received from shareholders over the past several years.
“We have spent nearly three years engaging with shareholders and their representatives to better understand their concerns,” she said. “During this period, we also conducted a shareholder registration exercise to update shareholder records and contact information. Many shareholders expressed interest in selling their shares, but there was previously no formal mechanism to facilitate such transactions.”
According to Mutesi, the absence of an organized share-trading framework and the bank’s non-listing on the stock market had previously limited opportunities for shareholders wishing to trade their holdings.
Majority shareholder holds 87.56%
BPR Bank Rwanda’s shareholding structure consists of two principal shareholder groups. KCB Group remains the majority shareholder with a stake of 87.56%, while Rwandan shareholders collectively own the remaining 12.44%.
Although individual holdings among local shareholders are generally small, their numbers remain significant. Mutesi noted that the bank continues efforts to identify and register shareholders whose records remain incomplete.
Pascal Nyiringango, a member of BPR Bank Rwanda’s Board of Directors, said that many individuals remain unaware that they are shareholders in the bank.
According to Nyiringango, when the former People’s Banks were transformed into a commercial banking institution, all members automatically became shareholders. As a result, many beneficiaries never realized they held shares, while others have shown limited interest in registration due to the relatively small size of their holdings.
Despite this, he emphasized that local shareholders have played a vital role in the bank’s development both as investors and customers and should actively seek to benefit from the institution’s growth.
He encouraged anyone who held an account with a former People’s Bank before July 31, 2007 to visit their nearest BPR branch with proof of account ownership in order to verify and register their shareholding status.
Dividend payments strengthen investment appeal
Romuald Mukwiye, President of the Association of Rwandan Shareholders, said the bank’s improved performance has strengthened the value proposition for shareholders.
He noted that since returning to profitability and distributing dividends beginning in 2024, BPR Bank Rwanda has delivered shareholder returns that compare favorably with those offered by many listed companies in Rwanda.
Mukwiye described BPR shares as an attractive long-term investment opportunity and observed that when shareholders choose to sell, existing shareholders frequently purchase the shares to increase their stakes.
Anyone seeking further information about buying or selling shares can contact BK Capital by phone at 0788143434 or 0788143141, send an SMS or WhatsApp message to 0798284430, or email registrar@bk.rw.
Speaking during the launch, BPR Bank Rwanda Managing Director Patience Mutesi said the initiative responds to requests received from shareholders over the past several years.Pascal Nyiringango, a member of BPR Bank Rwanda’s Board of Directors, said many individuals remain unaware that they are shareholders in BPR Bank Rwanda.Representing minority shareholders, Romuard Mukwiye said the platform addresses a challenge that shareholders had faced for years. BPR Bank Rwanda has launched an internal share trading platform that enables its shareholders to buy and sell shares among themselves, establishing a structured mechanism for minority investors to trade their stakes.
Recognised as Europe’s largest speciality coffee event, the exhibition will bring together thousands of industry professionals, including producers, exporters, roasters, importers, buyers, investors, and experts from around the world.
This edition holds particular significance as it will be the first time in the history of World of Coffee that the event is hosted in Belgium. The choice of Brussels is both strategic and symbolic. As the de facto capital of the European Union, the city stands at the crossroads of Europe’s economic, diplomatic, and commercial activities, making it a key gateway to international markets.
The event rotates annually across major European capitals. Last year, it was hosted in Geneva, Switzerland, and this year it moves to Brussels, further reinforcing its status as a truly continental platform for the global coffee industry.
Thanks to its exceptional connectivity, with direct flights to more than 200 destinations worldwide, Brussels is one of the most accessible European cities for delegations from major coffee-producing countries across Africa, Latin America, and Asia.
Hosted at Brussels Expo, one of Europe’s most prestigious and modern exhibition venues, the event will feature hundreds of exhibitors and a rich programme of professional activities over three days, including business meetings, conferences, cupping sessions, international competitions, and networking opportunities.
For Rwanda, this participation goes far beyond attending an international trade exhibition. It is part of a broader strategic vision to strengthen the country’s position among the world’s leading specialty coffee origins.
A key driver of this strategy is Europe’s importance as Rwanda’s main coffee market, accounting for around 60% of the country’s coffee exports. This strong trade link makes the Brussels platform particularly relevant, as it provides an opportunity to further consolidate Rwanda’s footprint in its most important destination market while expanding into new premium segments.
On this occasion, Rwanda will showcase the excellence of its coffee, internationally recognised for its exceptional quality, complex fruity flavour profiles, bright acidity, and high-altitude production.
This push into premium markets comes at a time when Rwanda’s coffee sector is enjoying a historic boom, having generated an all-time high of $148.6 million in export revenues in 2025, a massive 65% surge from the prior year.
Backed by an average export price of $6.20 per kilo, this economic momentum directly flows back to the country’s 400,000 smallholder farm families, who saw minimum farm-gate cherry prices raised to Rwf 750 per kilogram for the 2026 season.
In addition, Rwandan exporters will use the exhibition as a learning and compliance platform, with a strong focus on the European Union Deforestation Regulation (EUDR). A series of conferences, technical sessions, and workshops running alongside the exhibition will help exporters better understand new compliance requirements shaping access to the European market.
The Rwanda pavilion will also serve as a platform to highlight the expertise of local producers, washing stations, cooperatives, and exporting companies that contribute daily to the development of this key sector of the national economy.
The Rwandan delegation will consist of a representative from National Agricultural Export Development Board, responsible for coordinating Rwanda’s institutional participation, alongside Rwandan coffee exporters representing washing stations, cooperatives, and private export companies.
Throughout the event, the delegation will engage in B2B meetings, coffee tasting sessions, and strategic discussions with major players from the global coffee industry.
The objectives are clear: to increase the visibility of Rwandan coffee, build long-term business relationships, expand into new markets, and further strengthen the Rwanda brand internationally.
Through this participation, Rwanda aims to promote its specialty coffee in premium international markets, facilitate direct trade connections between Rwandan exporters and global buyers, and reinforce its position as one of the world’s most promising origins for high-quality specialty coffee.
Under the theme “Discover the World of Coffee in the Capital of Europe,” Brussels will become, for three days, a global meeting point for innovation, knowledge sharing, and the celebration of exceptional coffee.
For Rwanda, this event represents a major opportunity to boost trade and deepen its presence in the European specialty coffee market.
Rwanda, through the National Agricultural Export Development Board (NAEB), will participate in the 2026 edition of the prestigious World of Coffee international exhibition, which will take place from 25 to 27 June 2026 at Brussels Expo in the Belgian capital.Through this participation, Rwanda aims to promote its specialty coffee in premium international markets, facilitate direct trade connections between Rwandan exporters and global buyers, and reinforce its position as one of the world’s most promising origins for high-quality specialty coffee.A key driver of this strategy is Europe’s importance as Rwanda’s main coffee market, accounting for around 60% of the country’s coffee exports. The Rwanda pavilion will also serve as a platform to highlight the expertise of local producers, washing stations, cooperatives, and exporting companies that contribute daily to the development of this key sector of the national economy.
At least 1,232 households in Rusizi District, Western Province, are set to receive compensation as Rwanda advances land acquisition for the Ruzizi III Regional Hydropower Project.
The households have been identified following completion of the inventory and valuation of affected land and assets, including houses, crops, trees, and other property. A published list confirms those eligible for compensation under the project’s resettlement process.
The $800 million Ruzizi III project is a 206-megawatt regional hydropower scheme developed as a public-private partnership between Rwanda, Burundi, and the Democratic Republic of the Congo. It also involves private sector partners Industrial Promotion Services, the infrastructure arm of the Aga Khan Fund for Economic Development, and SN Power, owned by TotalEnergies.
It is being implemented by Ruzizi III Energy Limited, a special-purpose vehicle responsible for developing, financing, constructing, and operating the facility. Once completed, electricity generated will be shared equally among the three countries to improve access to affordable renewable energy.
A cut-off date of June 8, 2026 has been set, meaning any land developments or assets added after that date will not be eligible for compensation.
“The recent declaration of the land acquisition cut-off date in Rwanda is an important milestone in the implementation of the Resettlement Action Plan on the Rwandan side,” Mohsin Tahir, Project Director at Ruzizi III Energy Limited, told The New Times.
He added that compensation figures are based on verified assessments. “On the Rwandan side, based on the land and asset inventory undertaken, it is expected that approximately 1,232 affected households will be eligible for compensation. This will be finalised and confirmed following the cut-off process, including landowners, crop owners, tenants, and sharecroppers.”
Project officials said the measure is intended to ensure fairness and transparency in the compensation process while preventing opportunistic developments aimed at increasing payouts after notification of land acquisition.
An estimated $21 million will be spent on compensation in Rwanda. While the figure for Rwanda is confirmed, assessments in the Democratic Republic of the Congo are still ongoing, and Burundi is not expected to have any displaced households.
The project is backed by several international financiers, including the World Bank, African Development Bank, European Union, European Investment Bank, and International Finance Corporation.
Construction is expected to begin in the first quarter of 2027, with Ruzizi III expected to significantly boost regional power supply once operational.
Officials say at least 1,232 households in Rusizi District, Western Province, are set to receive compensation as Rwanda advances land acquisition for the Ruzizi III Regional Hydropower Project.
The investment, announced on June 22, follows Spiro’s earlier $215 million equity funding round backed by a consortium of institutional, international and regional investors. The latest financing reinforces investor confidence in Africa’s rapidly growing electric mobility sector and positions Spiro among the continent’s best-funded clean energy and e-mobility companies.
The company said the fresh capital will accelerate the expansion of its battery-swapping network, manufacturing capabilities and next-generation EV infrastructure across high-growth African markets.
Spiro currently operates in seven countries, Rwanda, Kenya, Uganda, Nigeria, Benin, Togo and Cameroon, where it is helping replace fuel-powered motorcycles with electric alternatives.
The company has deployed more than 100,000 electric motorcycles, established over 2,500 battery-swapping stations and completed more than 30 million battery swaps, making it Africa’s largest operator of battery-swapping infrastructure for electric two-wheel vehicles.
Spiro has deployed more than 100,000 electric motorcycles across its seven markets.
Beyond expanding its network, the partnership with NewTrails Capital is expected to strengthen Spiro’s manufacturing ambitions by supporting the localisation of production and supply chains in Africa, particularly through collaboration with Chinese suppliers.
Spiro Founder and Chairman of Equitane, Gagan Gupta, welcomed the investment, saying it reflects growing confidence in the company’s vision and progress.
“Partnering with NewTrail Capital’s deeply experienced team marks a powerful new chapter for Spiro as we prepare for the next steps of our pan-African and international expansion”, he stated.
NewTrails Capital Founding Partner Yufan Zhang said the investment reflects the firm’s confidence in Spiro’s business model and long-term prospects.
“Spiro’s core strengths lie in its deeply localized operating capabilities, vertically integrated supply chain, digitally enabled ecosystem, sound unit economics, and strong ability to scale rapidly,” Zhang noted.
The latest financing reinforces investor confidence in Africa’s rapidly growing electric mobility sector and positions Spiro among the continent’s best-funded clean energy and e-mobility companies.
Zhang added that the company has successfully integrated electric vehicles, batteries, energy replenishment, payments and service networks into a solution tailored to African markets, and that Chinese financing and supply chains can play an increasingly important role in supporting Africa’s clean energy transition.
The investment comes as many African countries seek to reduce dependence on imported fossil fuels, strengthen energy security and modernise urban transport systems. It also highlights increasing global investor interest in scalable EV infrastructure across the continent.
Founded to accelerate Africa’s transition to clean mobility, Spiro is expanding regional production and assembly operations with the goal of manufacturing electric vehicles in Africa for African and international markets.
Beyond expanding its network, the partnership with NewTrails Capital is expected to strengthen Spiro’s manufacturing ambitions by supporting the localisation of production and supply chains in Africa, particularly through collaboration with Chinese suppliers.
