In recent days, employees working in the building were informed to prepare for relocation. In a statement released on Monday, RDB stated that institutions previously operating in the building will be temporarily moved to alternative office spaces.
“Until the new premises are ready, One Stop Centre services are available at the Ground Floor of the Ministry of Infrastructure [Kimihurura KG 1 Roundabout, Kigali]. Other services will continue through RDB’s existing digital platforms,” reads the statement.
Institutions housed in the RDB Building include RDB, RCB, RMB, and RHA.
A building that has long attracted controversy
The RDB Building, located in Gishushu, is a 12-storey structure with four underground floors that can be used for various purposes, including parking and gym facilities. It has a total floor area of approximately 42,000 square metres.
The building was purchased by the government for Rwf 42 billion after concerns had been raised over its quality standards. The Rwanda Housing Authority (RHA) previously stated that it had conducted assessments to determine whether the building met required standards.
Analyses reportedly revealed several structural and construction-related issues, prompting corrective measures linked to both design and construction flaws.
Over time, these problems are said to have persisted and, in some cases, worsened, leading to growing concerns about the safety of occupants and the need for urgent intervention.
As a result, authorities decided to relocate all services from the building to ensure the safety of users while renovation works are undertaken.
The Deputy Director General of RHA, Dr Noël Nsanzineza, previously told Members of Parliament that, under the purchase agreement, the original owner was responsible for correcting the identified defects.
He stated: “According to the sale agreement, the issues were supposed to be corrected by the building’s owner. However, the contract also included a clause allowing us to withhold about Rwf 2 billion if the corrections were not made. The owner failed to fully address the problems despite some attempts, and we eventually decided to withhold the funds.”
The RDB Building, located in Gishushu, is a 12-storey structure with four underground floors that can be used for various purposes, including parking and gym facilities.
The initiative comes at a critical time for Africa’s agricultural expansion, particularly for South Africa’s fast-growing citrus sector, he said.
“South African citrus production is on such a significant growth trajectory that unlocking its full economic potential requires improved access to all high-value markets like China,” the business leader said.
Highlighting the sector’s broader socio-economic contribution, Ntshabele noted that the country’s citrus industry currently supports about 140,000 jobs at the farm level alone and that expanded access to a large market such as China could create further employment opportunities and support rural development.
Many rural communities in South Africa rely heavily on agricultural exports, he said, adding that citrus-producing regions are likely to be among the first to benefit from improved market access under the new tariff policy.
The zero-tariff treatment, he said, will help expand trade access and deepen economic ties between Africa and China, while strengthening the continent’s external trade resilience amid global economic uncertainty.
Such policy measures could contribute to a more stable global trading system by promoting inclusive trade and reducing barriers for developing economies, helping diversify supply chains, he added.
African exporters are expected to gain a stronger foothold in one of the world’s largest consumer markets, reinforcing confidence in long-term economic cooperation and shared growth between Africa and China, Ntshabele said.
“We greatly value the opportunities the Chinese market holds,” he added.
Many rural communities in South Africa rely heavily on agricultural exports
As a hallmark of China-Africa cooperation in the new era, the zero-tariff measure is expected to reduce trade barriers and deliver long-term benefits to people on both sides, injecting fresh momentum into their joint pursuit of modernization while contributing to a more inclusive and universally beneficial global trading system.
A reliable market
On the outskirts of the Ethiopian capital city of Addis Ababa, construction is underway on a new roasting facility for Awo Coffee to meet soaring export orders. According to Awo Coffee General Manager Tesfaye Gebru, about 90 percent of the firm’s roasted products are shipped to China each year.
“Since we began in 2014, the fast-growing Chinese coffee market has emerged as our primary export destination,” said Gebru, noting that in 2024, the company exported about 140 tonnes of Ethiopian green coffee beans and 20 tonnes of processed coffee products to China, with annual growth of around 10 percent.
Awo Coffee sources beans from its own 14-hectare farm. “We purchase beans from smallholder farmers at higher prices, directly boosting their incomes. During harvest seasons, we also hire local villagers to pick coffee cherries,” said Gebru.
Awo’s rapid expansion has been supported by early access to China’s zero-tariff policy. Effective from December 2024, China granted all least developed countries with which it has diplomatic relations zero-tariff treatment for 100 percent tariff lines, including 33 African countries.
The impact on Ethiopian coffee exporters has been swift. Ethiopia, widely known as the home of Arabica coffee, has strengthened its position in the Chinese market, rising to become one of the largest suppliers of coffee to China in recent years.
As China’s zero-tariff policy now extends to 53 African countries, Cameroon cocoa farmer George Wambo Cornyu described it as “a golden opportunity.”
“It’s going to encourage our domestic processing and also value additions,” said Cornyu, also president of Masoka-Ikata Farmers Cooperative in Cameroon. “It is going to trigger industrialization in our own sector.”
Beyond tariff reductions, China has in recent years expanded market access for African exports through upgraded “green channels” and other facilitation initiatives. It has also supported African participation in major trade expos such as the China International Import Expo, helping African products reach global markets.
In 2025, China-Africa trade grew by 17.7 percent year on year to reach 348 billion U.S. dollars, while Africa’s exports to China exceeded 123 billion dollars, reflecting deepening economic and trade ties.
James Kandoya, a senior economic journalist at Tanzania’s The Guardian Newspaper, noted that for a long time, many African products struggled to enter major global markets due to high tariffs, strict standards, or complicated procedures.
“When China opens its market to African exports with zero tariffs, it immediately creates real opportunities. It gives African businesses the feeling that there is a reliable market willing to engage with us on fairer terms. That can encourage more investment in agriculture, processing, and logistics,” he said.
An aerial drone photo taken on March 26, 2026 shows a view of the Lekki port in Lagos, Nigeria. (China Harbour Engineering Company Ltd./Handout via Xinhua)
A driver of African modernization
In March, the first cargo train carrying 54 containers of locally produced goods exported to China under zero-tariff treatment departed from Nairobi, Kenya’s capital. It traveled along the Chinese-built Mombasa-Nairobi Standard Gauge Railway to the port city of Mombasa before continuing by sea to China.
Among the shipments was a batch of avocado oil produced at a processing plant in the Athi River Export Processing Zone on the outskirts of Nairobi, invested in by the Chinese company Sanmark Limited.
Since beginning operation in August 2025, the processing plant has exported about 410 tonnes of avocado oil to China, where the product has evolved from a niche health item to a regular feature on major e-commerce platforms.
With China’s zero-tariff policy taking effect in May, Kenya’s avocado industry players expect further export growth.
“We look forward to exporting more avocado oil and boosting incomes for local farmers,” said Muhammad Khan, operations manager at Sanmark Limited. “I also believe more Chinese investors will be encouraged to enter the Kenyan market and set up processing factories, enhancing the efficiency and resilience of the industrial chain.”
In 2022, fresh Kenyan avocados embarked on their journey to China. Since then, Chinese and Kenyan companies have launched full value-chain cooperation spanning avocado cultivation, processing, cross-border logistics, and end-market distribution, significantly boosting the sector’s overall development.
Describing the zero-tariff initiative as “an unprecedented breakthrough in the export journey,” Lee Kinyanjui, cabinet secretary in the Ministry of Investments, Trade and Industry, said: “This is more than a policy shift; it is a game changer that opens the door to one of the world’s largest consumer markets and positions Kenya for a new era of trade growth and value addition.”
“Over the past two decades, the (China-Africa cooperation) framework has steadily shifted toward trade, industrialization support, and infrastructure development. Duty-free access complements infrastructure corridors, logistics projects, and industrial parks already developed through China-Africa cooperation,” Zimbabwean economic analyst and political commentator Dereck Goto said.
Sharing a similar view, Balew Demissie, a senior communication and publication consultant at the Policy Studies Institute of Ethiopia, said as a combined measure of trade and investment, “the zero-tariff policy closely aligns with Africa’s urgent industrialization agenda.”
“It could complement domestic industrial policies by creating new opportunities for manufacturing expansion, agro-processing, and export-oriented industrialization, thereby injecting fresh momentum into Africa’s modernization trajectory,” he added.
“This is an approach where China is trying to re-establish supply chains that are more predictable, that are more stable in this erratic world,” said Tabani Moyo, research fellow with the Graduate School of Business and Leadership at the University of KwaZulu-Natal, South Africa. “Hence, (there is) a need for the multiple industries in Africa to chip in and drive the modernization agenda through value-addition of their commodities.”
A timely stabilizer
Amid rising volatility and growing protectionism in global trade, China’s zero-tariff policy underscores its firm commitment to fostering an open world economy, advancing shared development across the Global South through practical cooperation, and injecting stability into the global trade system and economic growth.
During the 39th African Union Summit, United Nations Secretary-General Antonio Guterres welcomed the move, appealing to all developed countries and nations with large economic potential to take the same measure.
African Union Commission Chairperson Mahmoud Ali Youssouf said that China’s initiative is particularly vital as Africa bears the brunt of global uncertainties, which have disastrous effects on African economies, particularly those with structural vulnerabilities.
“We also see isolationist policies across the world, while protectionism is growing,” he said, noting that China’s zero-tariff treatment is a “very timely” move that will help Africa tackle global challenges.
“Amid unilateralism and protectionism, China’s zero-tariff treatment enhances trade resilience, supports diversification of African exports, and sustains development prospects by shielding them from external shocks,” said Leseko Makhetha, head of the Department of Economics at the National University of Lesotho.
“It reinforces a rules-based global trading system, offering an alternative to protectionism and helping stabilize trade flows amid global tensions,” Makhetha noted.
This photo taken on April 15, 2026 shows containers at the Nairobi station of the Mombasa-Nairobi Standard Gauge Railway (SGR) in Nairobi, Kenya. (Photo by Nelson Asienwa/Xinhua)
China’s announcement of zero-tariff treatment starting May 1 for all the 53 African countries with which it maintains diplomatic ties reaffirms its consistent commitment to opening its vast market to Global South partners.
As Chinese President Xi Jinping has put it, China is committed to providing new opportunities for the world with the new achievements of Chinese modernization and offering new impetus to Global South partners, including Africa, via its huge market.
At a moment when globalization is buffeted by protectionism, China remains firm in its conviction that mutually beneficial and open cooperation is the right path forward and the common aspiration of all people.
Through concrete action, it is transforming a consumer market of over 1.4 billion people into tangible development opportunities for African nations, yielding fruitful results.
The macro picture is compelling. China-Africa trade reached a record 348 billion U.S. dollars in 2025, up 17.7 percent year on year. Of the total, China’s imports from Africa amounted to 123 billion dollars, an annual increase of 5.4 percent.
China’s new zero-tariff measures will inject much-needed certainty and confidence into the African economy. In an increasingly uncertain global trade environment, the biggest advantage of the policy is not short-term profit but long-term predictability, said Cobus van Rensburg, general manager of the South African Pecan Nut Producers Association.
“It adds a lot of security, especially from a supply point of view, as well as from a demand point of view, because it creates a better bond between South Africa and China,” he said.
The zero-tariff policy marks another key step in furthering industrial partnership between the two sides, and is expected to help Africa move up the global value chain. The Forum on China-Africa Cooperation Beijing Action Plan explicitly commits to supporting “Africa in developing local value chains, manufacturing and deep processing of critical minerals.”
Over the years, China has also made great efforts to remove other non-tariff barriers in its trade with Africa. Expanded sanitary and phytosanitary agreements have widened the “green lanes” for African agricultural exports to China, while digital customs supervision and regulatory innovation have shortened the journey from farm to port and, ultimately, to consumers.
The results are already visible across Africa. In Kenya, avocados and macadamia nuts now move efficiently by rail toward Chinese markets, raising farmers’ incomes while driving investment in cold-chain logistics and related industries. In Cote d’Ivoire, a modern cocoa-processing complex built by a Chinese company has helped the country move beyond its long-standing reliance on raw bean exports, allowing local farmers to participate in higher-value stages of production. In Rwanda, Chinese-supported cold storage and drying facilities have enabled premium dried chillies to reach consumers in China, opening new opportunities for local growers.
Through technology transfer, infrastructure investment and expanded market access, China is helping Africa strengthen the industrial foundations needed for long-term development. Across the continent, China is increasingly seen as a reliable and sincere partner.
History has shaped that trust. African countries supported the restoration of China’s lawful seat at the United Nations more than five decades ago, while China has in recent years championed the African Union’s entry into the G20 and consistently advocated greater African representation in global governance.
As 2026 marks the China-Africa Year of People-to-People Exchanges, ties are deepening from government cooperation to closer bonds between ordinary people. Rooted in mutual respect and shared development, the China-Africa partnership is becoming an important force driving the rise of the Global South and supporting a more balanced global economy.
Over the years, China has also made great efforts to remove other non-tariff barriers in its trade with Africa.
The final event took place on April 30, 2026, featuring five finalists selected from an initial pool of 1,200 applicants. The challenge is designed to support youth-led innovations that improve productivity and efficiency in the agricultural sector.
The grand prize of Rwf 30 million was awarded to Mutoni Goodluck for her project, Goodness of God Ltd, which produces natural hair care oils designed to promote hair growth and maintenance.
Mutoni explained that she began experimenting with her products in 2019 and officially entered the market in 2024. Her oils are made from natural ingredients including onions, ginger, and garlic.
She noted that sourcing raw materials requires close collaboration with farmers from land preparation to harvest, a process that initially limited her production capacity.
“We were working with about 120 farmers. During dry seasons, production would drop due to limited yields,” she said. “With this support, we plan to organize farmers into groups and train them so we can improve production and ensure consistent supply.”
Isidore Niyigirimpuhwe won second place and received Rwf 20 million for his project, Tech Plus, which focuses on developing egg incubator machines capable of hatching chicks after 21 days.
His innovation includes machines with different capacities, ranging from 120 eggs to large-scale incubators holding up to 40,000 eggs. He said the funding will help increase production capacity.
“We had many clients, but building one machine used to take three to four days. Now we aim to scale up so that we can produce at least one machine per day,” he said.
Muyumbano Happy Axel secured third place with Rwf 15 million for his project, Ampere Vision, which develops agricultural drones used for spraying pesticides on crops.
Each drone can cover up to 18 hectares per day, significantly improving efficiency in pest control.
He said the funding will help expand production to meet growing demand. “We had limited drones, which made it difficult to serve many farmers. Now we can scale up because our main challenge was access to equipment,” he said.
Other finalists included Josiane Mujawayesu, who is developing organic fertilizer from biodegradable waste combined with insects such as worms and flies that she breeds for this purpose.
Another finalist, Abdu Usanase, presented a digital platform that helps farmers calculate the quantity of seeds needed and also supports storage solutions that allow crops such as potatoes to be preserved for up to six months without spoiling.
Government and partners emphasize collaboration
Minister of Agriculture and Animal Resources, Dr. Ndabamenye Telesphore, highlighted that young people are increasingly understanding their role in agriculture through innovation and encouraged collaboration among entrepreneurs.
“There is a youth platform in agriculture that brings together everyone from farmers to exporters. What we always encourage is teamwork and partnerships between complementary projects so that profits can grow,” he said.
Verena Ruzibuka, Country Director for Heifer International Rwanda, noted that even participants who did not win are still supported through other programs.
“Even those who do not win continue to benefit from other initiatives that help them expand their markets. For example, we work with mushroom farmers and connect them to solve shared challenges,” she said.
She added that young entrepreneurs also receive continuous mentorship to help strengthen and scale their businesses.
Mutoni Goodluck received the Rwf 30 million grand prize at the AYuTe Africa ChallengeProducts developed by Mutoni Goodluck, winner of the grand prize at the AYuTe Africa ChallengeVerena Ruzibuka, Country Director for Heifer International Rwanda, noted that even participants who did not win are still supported through other programs. Muyumbano Happy Axel won Rwf 15 million prize at the AYuTe Africa ChallengeMuyumbano Happy Axel explains how his agricultural drone operates.Minister of Agriculture and Animal Resources, Dr. Ndabamenye Telesphore, encouraged youth participation in agriculture innovation.Abdu Usanase presents his digital platform helping farmers determine required seeds based on expected yieldsJosiane Mujawayesu explains her organic fertilizer project combining waste and insects such as flies and wormsIsidore Niyigirimpuhwe, inventor of an egg incubation machine, wins second prize of Rwf 20 millionPromising but emerging innovation project was recognized and supported for further developmentThe third edition of the AYuTe Africa Challenge concluded with awards given to outstanding agricultural innovations
In the first quarter of 2026, the world’s largest technology companies showed that their massive investments in artificial intelligence infrastructure are beginning to pay off, even as they continue to increase their spending.
Companies such as Microsoft, Alphabet (Google’s parent company), Meta Platforms, and Amazon all reported stronger‑than‑expected results, largely driven by growth in their AI‑related cloud services and data center businesses. These results confirmed that their costly commitments to AI computing capacity and infrastructure are generating real revenue and are shaping the future of their businesses.
These major tech firms are collectively projected to spend more than $700 billion on AI infrastructure in 2026, a significant increase from earlier expectations of around $600 billion. This year’s total far surpasses the roughly $650 billion level that had been forecast earlier, reflecting how urgently companies are racing to build the computing power needed to support advanced AI tools and services.
Microsoft reported robust growth in its Azure cloud division, with revenue beating analyst expectations. Its AI‑related revenue has grown significantly, prompting the company to raise its full‑year capital expenditure forecast to about $190 billion well above market predictions. Microsoft’s leadership described this period as part of a new “agentic computing era,” where AI tools are central to enterprise services.
Alphabet saw particularly strong performance from Google Cloud, which posted a 63 % year‑over‑year revenue increase the most dramatic growth among the major cloud platforms. CEO Sundar Pichai pointed out that demand for AI computing is outpacing supply, leading to expanded infrastructure commitments. This strong performance helped reinforce Alphabet’s decision to boost its capital spending projections for 2026 and beyond.
Meta Platforms also surpassed revenue expectations, reporting about 33 % growth in its first‑quarter sales. However, its expanding AI infrastructure costs and higher capital expenditure outlook contributed to downward pressure on its stock price. Meta plans to spend more on data centers and components to support future AI tools and services.
Amazon continued to show solid performance in cloud computing through its Amazon Web Services (AWS) division, which saw a 28 % growth rate, the fastest in many quarters. AWS has also formed strategic partnerships with AI companies, reinforcing its long‑term AI spending plans without raising its full‑year forecast.
The first quarter of 2026 demonstrated that AI investments are driving revenue growth for Big Tech, even though companies are still increasing their capital expenditures. Demand for AI infrastructure remains strong, suggesting that these technology giants are committed to long‑term expansion in AI and cloud computing as core parts of their business futures.
Big tech’s AI investment soars in Q1 2026, reaching $700 billion in infrastructure spending.
The inclusion of an additional 20 African nations under the zero-tariff treatment policy has demonstrated the nation’s active commitment to expanding high-standard opening up, according to the authorities.
From May 1, 2026 to April 30, 2028, China will grant zero-tariff treatment, in the form of a preferential tariff rate, to 20 African countries that have established diplomatic ties with China and are not classified as the least developed countries, according to an announcement by the Customs Tariff Commission of the State Council.
The announcement specified that for products under tariff quotas, only the in-quota tariff rate will be reduced to zero, while the out-of-quota tariff rate will remain unchanged.
During the two-year implementation period, China will continue to promote the negotiation and signing of the agreement of China-Africa Economic Partnership for Shared Development with relevant African countries, it said.
China’s latest move to apply zero-tariff treatment to an additional 20 African nations came after the country had granted zero-tariff treatment on 100 percent of tariff lines since Dec. 1, 2024 for 33 least developed African countries with which it maintains diplomatic relations.
The commission added that this move will play an important role in strengthening the economic and trade cooperation bond between China and Africa as well as advancing joint efforts to build an all-weather China-Africa community with a shared future for the new era.
Calling it a “significant measure,” China’s commerce ministry said Tuesday that with the expanded policy taking effect on Friday, China will become the first major economy to provide unilateral, full-coverage zero-tariff treatment to all African countries with diplomatic ties, and to all least developed countries with diplomatic relations.
In a statement, the ministry said that the zero-tariff arrangement is also an innovative and phased step as China and relevant African countries work toward the signing of the China-Africa Economic Partnership for Shared Development agreement.
It said that at a time when unilateralism and protectionism are on the rise, China’s move will expand the opening up of its market through zero-tariff treatment, creating development opportunities for African countries. Meanwhile, by negotiating and signing the China-Africa Economic Partnership for Shared Development agreement, China aims to ensure stable benefits for African countries and provide long-term, stable and predictable institutional safeguards for deepening China-Africa economic and trade relations.
As a concrete step demonstrating China’s unwavering commitment to expanding high-standard opening up and its initiative to open wider, the implementation of zero-tariff treatment for the 53 African countries will inject strong impetus into China-Africa trade and investment cooperation as well as Africa’s development, it said.
China’s policy announcement on Tuesday aligns with its broad efforts to build a new system of a higher-standard open economy through mutually-beneficial and open cooperation and expansion of institutional opening up over the coming years.
According to the outline of China’s 15th Five-Year Plan (2026-2030), the country will actively take the initiative to open wider and create a transparent, stable and predictable institutional environment. It has also pledged to improve the quality and level of trade and investment cooperation in the years through 2030.
The decision, framed by Emirati officials as a “sovereign, strategic choice,” is believed to better align with the country’s long-term economic vision and production ambitions. However, experts argue that the move may steer the global energy geopolitics toward a more fragmented structure.
Sovereign decision
The UAE formalized its departure through a statement released by the official Emirates News Agency (WAM) on Tuesday, confirming its exit from both OPEC and the broader OPEC+ alliance.
The withdrawal is set to take effect on May 1, removing the group’s third-largest producer from its quota system. Analysts estimated that OPEC will lose about 15 percent of its capacity.
The decision followed “a careful look at current and future policies related to level of production,” Energy Minister Suhail Mohamed Al Mazrouei told Reuters, adding that the UAE did not raise the matter with any other country.
The sentiment was echoed by the Foreign Ministry, with its communications director Afra Mahash Al Hameli describing the exit on X as a “sovereign, strategic choice grounded in its long-term economic vision.”
Al Hameli said the move will give the country greater flexibility in using its energy capacity, strengthen national development, and reinforce market confidence.
Diverging paths
The UAE decision, analysts say, reflects a strategic pivot driven by its expanded production capacity and independent export routes, underscoring a broader ambition to become a versatile global energy leader beyond the cartel’s constraints.
Mohamed Nour El-Din Hashim, a Sudanese economist, believes the UAE’s exit is driven by a strategic desire to break free from OPEC production constraints to maximize oil revenues.
“This is true especially after Abu Dhabi has made substantial investments in expanding its oil production capacity in recent years,” Hashim said.
Though regional tensions almost paralyzed shipping through the Strait of Hormuz, the UAE possesses alternative export routes that grant it greater flexibility, he said, boosting its confidence in managing its oil policies “outside OPEC+ collective commitments.”
Aside from oil, the UAE harbors ambition to become a global energy hub in a broader sense, encompassing oil, gas, hydrogen and renewable energy, noted Emirati political analyst Abdulaziz Sultan Al-Mamari.
The country wants to pursue “greater autonomy” to better manage its “production levels” and meet its new role in the global market, Al-Mamari told Xinhua.
On a larger scale, Jumaa Mohammed, a politics professor at Iraq’s Tikrit University, argues that OPEC has increasingly struggled to balance the differing production strategies of its members.
“The strongest evidence: the UAE did not consult Saudi Arabia,” Mohammed said. “In GCC (Gulf Cooperation Council) culture, this has never happened before. Major decisions were always preceded by meetings and coordination.”
This, however, does not mean a political rupture within, Al-Mamari said.
“Gulf countries are undergoing a phase of economic and sovereign repositioning characterized by diversified tools and approaches, without affecting the foundations of strategic coordination among them,” he added.
Fragmented energy order
The UAE’s exit not only entails oil price volatility in the short term, regional experts argue, but also signals a shift from OPEC collective discipline toward a more fragmented, market-driven energy order.
Mohammed Belqasim Al Barghouti, a Syrian political economy professor, hold the view that the exit of a country the size of the UAE, an influential producer, could weaken OPEC’s cohesion, but not its overall influence.
“In reality, the organization’s weight today largely depends on a central axis led by Saudi Arabia within OPEC, alongside its partnership with Russia under OPEC+,” Al Barghouti said.
Thus, the impact will be more on the level of discipline within the alliance rather than a collapse of the organization, he said.
Still, any signal of fragmentation within OPEC could create volatility and uncertainty in oil prices, pointed out Oytun Orhan, a senior researcher at the Ankara-based Center for Middle Eastern Studies.
“If the UAE moves to increase production outside quota constraints, this could put downward pressure on prices, especially if it coincides with a slowdown in global demand,” the researcher said.
In the long term, Sudanese political analyst Abdul-Rahman Awad said, the decision potentially marks the beginning of a new phase where national calculations trump collective discipline.
The expert warned, “The UAE’s decision could mark the beginning of a new phase in the global energy market, where traditional blocs lose their ability to enforce collective discipline, giving way to more independent policies driven by national calculations.”
Al-Mamari also believes this could accelerate a structural shift away from collective supply management.
“The decision may form part of a broader structural transformation in global energy architecture, shifting from collective control mechanisms toward a more open model, governed by supply and demand dynamics and balances of power among producers,” he said.
Photo taken on Nov. 30, 2023 shows the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria. (Xinhua/He Canling)Photo taken on June 28, 2021 shows the industrial estate of Saudi oil giant Aramco in Dammam, Saudi Arabia. (Xinhua/Hu Guan)This photo taken on Sept. 1, 2024 shows a view of Dubai, the United Arab Emirates. (Xinhua/Sui Xiankai)Photo taken on Sept. 5, 2022 shows the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria. (Photo by Wang Zhou/Xinhua)
The listing of the third tranche follows a highly successful primary issuance which recorded an oversubscription of 126.2 percent, against the initial target of Rwf 23 billion. This reflects continued market confidence in the bank’s financial health and its commitment to environmental, social, and governance (ESG) targets.
“The success of this issuance demonstrates strong investor appetite for sustainable investments in Rwanda. The oversubscription and interest from a wide range of investors from Rwanda and beyond highlight that an ESG-driven approach is both impactful and commercially viable,” said Stella Rusine Nteziryayo, CEO of BRD.
The transaction was supported by the World Bank Group, which provided a credit enhancement to strengthen the bond’s attractiveness. Through this partnership, BRD has effectively mobilized private capital at three times the level of concessional financing provided.
“This transaction demonstrates how well-structured financial instruments can mobilize private capital at scale to support Rwanda’s development priorities. By linking financing to sustainability outcomes, BRD is helping to channel investment into sectors that create jobs, strengthen resilience, and drive inclusive growth. The World Bank Group is pleased to support efforts that deepen local capital markets while delivering tangible development impact,” said Sahr Kpundeh, the World Bank Country Manager for Rwanda.
SLB picks international investor’s interest
In a landmark development for the country’s capital markets, the BRD is also in advanced discussions with an international investor expected to invest in the reopening of the second SLB. This would mark the first time an international investor participates in a domestic issuance on the local bourse.
Proceeds from the bonds will finance projects that drive sustainable development and job creation, including exports and manufacturing, affordable housing, and support for women-led enterprises. By linking financial performance to measurable sustainability targets, BRD ensures that its growth remains aligned with Rwanda’s national development priorities.
About BRD
Established in 1967, the Development Bank of Rwanda (BRD) is the country’s sole national development bank. BRD supports sustainable development by offering affordable, long-term, and tailored finance. Over the past 58 years, BRD has financed projects in key sectors such as infrastructure, agriculture, affordable housing, education, green finance, exports, and manufacturing. These investments are critical for achieving Rwanda’s national development agenda, aligned with the Second National Strategy for Transformation (NST2), Vision 2050, and the Sustainable Development Goals (SDGs).
In 2025, Global Credit Rating Co. (GCR) reaffirmed BRD’s “AAA” rating on long-term domestic credit with a stable outlook that reflects BRD’s financial stability, strong support from shareholders and pivotal role in advancing Rwanda’s development.
The listing of the third tranche follows a highly successful primary issuance which recorded an oversubscription of 126.2 percent, against the initial target of Rwf 23 billion.
This was revealed during a press briefing held at the Embassy of the People’s Republic of China in Rwanda on Tuesday evening, where Ambassador Gao Wenqi outlined China’s economic outlook and the steady strengthening of trade and cooperation with Rwanda.
Amb. Gao said Rwandan coffee has become one of the strongest-performing export products in the Chinese market, reflecting years of gradual expansion and improved trade facilitation.
He noted that China’s imports of Rwandan coffee and related products have grown from $126,000 in 2013 to $1.01 million in 2019, and $4.72 million in 2024, describing this as evidence of consistent upward momentum.
Amb. Gao further confirmed continued rising consumer demand and improved logistics between the two countries.
“In 2025, China imported 869 tonnes of Rwandan coffee,valued at$5.97 million. The zero-tariff policy helps enhance the competitiveness of Rwandan specialty agricultural products in the Chinese market, enriches consumer choices, and brings tangible economic benefits to Rwandan farmers and export enterprises,” he said.
The envoy also highlighted a practical example of the impact of policy changes, saying a shipment of 2.4 metric tons of raw Rwandan coffee beans entered China through Changsha Airport in January 2025 under the zero-tariff scheme, saving the exporter over $1,600 after duties were reduced from 8 percent to zero.
Beyond coffee, Amb. Gao noted that Rwanda’s agricultural exports to China are gradually diversifying, with tea and chili increasingly entering the Chinese market.
He said these products are benefiting from the same zero-tariff framework and improved customs systems, including faster clearance through what he described as green channel arrangements for African agricultural goods.
Amb. Gao explained that the zero-tariff policy is part of China’s broader effort to deepen economic cooperation with Africa.
Rwanda is among the countries already benefiting from the initial phase introduced in December 2024, with a wider rollout planned for May 2026 covering all 53 African countries with diplomatic relations with China.
He said the policy will apply to 100 percent of tariff lines, aimed at strengthening competitiveness and expanding market access for African exports.
Amb. Gao also placed Rwanda’s trade performance within the broader bilateral context, noting that total trade between Rwanda and China reached $849 million in 2025, an increase of 26.9 percent year-on-year, while Rwanda’s exports to China rose by 42 percent. He said this reflects both Rwanda’s growing export capacity and China’s expanding consumer market as a major global importer.
On the wider economic front, he emphasized China’s continued opening-up policy and its role in global trade, noting that platforms such as import expos and trade fairs are designed to increase market access for international partners, including African countries.
He also briefly addressed China’s position on global issues, reaffirming the one-China principle regarding Taiwan and restating China’s call for peaceful coexistence and dialogue in resolving international conflicts, including tensions in the Middle East.
Amb. Gao concluded that Rwanda–China relations are currently at their strongest level following their elevation to a comprehensive strategic partnership. He said the implementation of China’s 15th Five-Year Plan (2026–2030) is expected to create new opportunities for cooperation in agriculture, trade, infrastructure, and digital development.
Chinese Ambassador to Rwanda Gao Wenqi outlined China’s economic outlook and the steady strengthening of trade and cooperation with Rwanda.
Relations built on mutual respect
Diplomatic relations between Rwanda and China date back to 1971, and over the years, both countries have built a strong partnership anchored in mutual respect and a shared commitment to development.
China has played a visible role in Rwanda’s development journey through several flagship projects, including the construction of Masaka Hospital, where services from Kigali Teaching University Hospital (CHUK) are expected to be relocated with improved capacity.
Cooperation has extended through the deployment of Chinese medical teams, donation of medical equipment, and continuous skills transfer to local health professionals, further reinforcing the practical dimension of the partnership.
Chinese firms have also contributed to major infrastructure works such as modern highways, hydropower plants, and smart education systems.
In agriculture, the introduction of Juncao mushroom technology has directly benefited around 35,000 farmers since 2017.
Since 1983, China has been offering government scholarships to Rwandan students, a cooperation spanning more than four decades. Last year alone, over 400 Rwandan trainees participated in short-term training and workshops in China, while about 110 students received government scholarships, both reaching record levels.
In vocational education, cooperation has also delivered concrete results. The Luban Workshop at IPRC Musanze, jointly established by Rwanda Polytechnic and Jinhua Polytechnic, provides training in E-commerce and Electrical Automation and has so far equipped nearly 10,000 people with practical skills through both online and offline programmes.
Under the China–Africa Vocational Education Cooperation Programme, the two institutions also implement a “2+1” training model, where students study for two years in Rwanda and complete a final year in China before obtaining an advanced diploma. This June, 30 more students from IPRC Musanze will travel to Jinhua, bringing the total number of beneficiaries under the programme to 90.
Lin Hang Minister Counsellor at Chinese Embassy in Kigali also attended the press briefing. Zeng Guangyu is the Chinese Director of the Confucius Institute at the University of Rwanda was also present at the media briefing. The presss briefing took place at the Chinese Embassy in Kigalo on Tuesday, April 28, 2026. Gao Zhiqiang, Economic and Commercial Counselor of the Chinese Embassy in Rwanda speaking to the press.
