The UNCTAD’s Trade and Development Report 2025 shows that shifts in financial markets affect global trade almost as strongly as real economic activity, influencing development prospects worldwide, said the UN trade body.
The report said that despite potential gains from new technologies like artificial intelligence, global growth is projected to remain subdued in 2026, at 2.6 percent.
UNCTAD said that its projection was based on a global growth aggregate using market exchange rate (MER) weights rather than purchasing power parity (PPP) weights used by the Organization for Economic Co-operation and Development (OECD), with the latter leading to a higher global growth forecast. The OECD on the same day predicted that global GDP growth will slow from 3.2 percent in 2025 to 2.9 percent in 2026.
UNCTAD Secretary-General Rebeca Grynspan said the findings show how financial conditions increasingly determine the direction of global trade. “Trade is not just a chain of suppliers. It is also a chain of credit lines, payment systems, currency markets, and capital flows,” she said.
The report said developing economies are forecast to grow by 4.3 percent in 2025, significantly faster than advanced economies.
However, factors such as higher financing costs, greater exposure to sudden shifts in capital flows, and rising climate-related financial risks limit the fiscal and investment space that developing economies need to sustain growth.
The report noted that many developing economies with small domestic financial markets rely on external borrowing at significantly higher rates of 7 to 11 percent, compared with 1 to 4 percent in major advanced economies.
In addition, climate vulnerability adds to financial pressures, with countries repeatedly exposed to extreme weather paying an estimated 20 billion U.S. dollars more each year in interest.
UNCTAD called for a set of reforms to reduce financial vulnerability, improve predictability, and strengthen alignment among trade, finance, and development.
These measures include trade rule updates, policies to narrow data caps, international monetary system reforms, and the development of capital markets.
Rwanda extracts minerals including wolframite, cassiterite, and coltan, processed into tungsten, tin, and tantalum, with an annual production of 8,000 to 10,000 tons. The country also mines gold, sapphire, and lithium, alongside ongoing exploration to identify new deposits. Increasingly, Rwanda is focusing on value addition through local processing.
The Gasabo Gold Refinery, now in its sixth year of operation, has an annual capacity of 96 tons. Director Kayobotsi Bosco told IGIHE that the facility has reached 30% of capacity, 28.8 tons annually. Monthly production has grown from 600 kilograms to 2.5 tons.
“We started by processing about 600 kilograms per month, and now we are processing 2.5 tons per month,” he said, noting the steady growth over the years. Gold processed at the refinery comes from Rwanda and six non-conflict African countries.
“They want us to process their gold. It’s easier to bring it because Rwanda has adequate security,” he added.
Processing yields significant benefits. Gold refined to 99.99% purity sells for over $134,000 per kilogram, compared to about $120,000 for unprocessed gold. Silver, often discarded when gold is sold raw, can fetch more than $1,800 per kilogram when refined. The refinery employs 42 Rwandans and aims to reach 50% capacity, about four tons per month, next year.
Tin processing has also expanded. LuNa Smelter, which began operations in 2018/19, has increased output from 100 to over 250 tons of tin per month, with a purification rate of 99.95%. Interim operations manager Parfait Udakemwa said the plant plans to reach 320 tons next year and targets 600 tons per month within five years. It employs 161 staff and sources cassiterite from across Rwanda.
Rwanda is also adopting advanced technologies in mining. The country has shifted from basic tools to research-driven methods and is now introducing robots to improve safety and efficiency. Through discussions with Zora Robotics, Rwanda plans to deploy robots in underground tunnels to assess ground stability, measure gas levels, and monitor workers.
Zora Robotics CEO Benjamin Karenzi said the company has over 60 robots operating in various sectors and is ready to support mining. Robots, operating on 5G, will inspect tunnels before miners enter and track worker movements, helping to reduce accidents and raise productivity. The technology is already used in South Africa and may cost up to 120 million Rwandan Francs per mine.
The initiative has gained support from investors such as British businessman Ray Power, whose company processes 120 tons of coltan per month in Bugesera. He said improved worker safety strengthens client confidence and long-term cooperation.
Rwanda aims to increase mining export revenues to $2.2 billion by 2029 and raise mineral recovery rates from 40% to 80%. In May 2025, the country identified new mineral zones spanning 13,454 hectares, with more discoveries expected.
The leaders are set to finalise the Washington Accord, a US-brokered peace deal aimed at ending years of conflict in eastern Democratic Republic of Congo (DRC).
The signing ceremony, scheduled for December 4, follows months of intensive diplomatic efforts led by President Trump and comes after the initial agreement was reached in June. In addition to the peace accord, the two leaders are expected to ratify a Regional Economic Integration Framework that was negotiated last month.
Relations between Rwanda and the DRC have been strained for years. Kinshasa has accused Rwanda of supporting the M23 rebel group, which controls key eastern cities, including Goma and Bukavu. Rwanda has consistently denied these allegations, instead accusing the DRC of harbouring the FDLR, a militia group linked to the 1994 Genocide against the Tutsi, and urging the DRC to resolve its internal security issues independently.
The Washington Agreement outlines the neutralisation of the FDLR and the lifting of Rwanda’s defensive border measures.
President Kagame recently emphasised that lasting peace will require commitment from all parties involved.
“Some of these processes will not work not just because we are meeting in Washington or the powerful United States is involved, but until those people concerned directly are committed to achieving end results,” he said.
The upcoming signing in Washington is being closely watched as a crucial step toward stabilising eastern Congo and strengthening regional cooperation in the Great Lakes region.
Trump made the declaration in a post on his Truth Social media platform, saying recipients of any pardon, commutation or other legal document signed by autopen should consider them “fully and completely terminated” and “of no legal effect.”
The autopen is a device historically used by U.S. presidents to replicate their signatures for high‑volume or ceremonial paperwork, a practice adopted by presidents of both major parties.
According to law professors such as Bernadette Meyler (Stanford Law School) and Mark Osler (University of St. Thomas School of Law), there is “absolutely no constitutional or legal basis” for a sitting president to retroactively revoke a predecessor’s pardons simply because they were autopen‑signed.
Another expert, Brian Kalt of Michigan State University College of Law, said that any attempt to invalidate pardons would require a court and only a court to declare them invalid, which would demand proof that Biden did not authorize the signatures.
It is not publicly known whether Biden actually used an autopen for all pardons or commutations and so far, no evidence has surfaced to confirm that.
Meanwhile, Trump is no stranger to clemency powers: since taking office a second time in January 2025, he has issued dozens of pardons and commutations including for high‑profile figures such as former Honduran President Juan Orlando Hernández.
Led by the Joint Operations Command, the mission includes humanitarian teams from the UAE Aid Agency, the Emirates Red Crescent Authority, and Abu Dhabi Civil Defense. The teams are working to reach the most affected communities and deliver immediate assistance, including food supplies, relief items, and essential shelter materials.
Reflecting its longstanding humanitarian principles, the UAE has swiftly provided a comprehensive package of emergency aid in support of the Sri Lankan government’s efforts to address the widespread impact of the floods and landslides.
The disaster has resulted in at least 355 fatalities, affected more than one million people, disrupted essential services, and caused partial or total damage to hundreds of homes across several districts.
This rapid intervention underscores the UAE’s commitment to supporting disaster-affected populations, alleviating their suffering, and facilitating early recovery and stability. It is part of the nation’s broader mission to extend timely assistance to communities impacted by natural disasters and crises worldwide.
Dr. Hamdan bin Musallam Al Mazrouei, Chairman of the Emirates Red Crescent Authority, highlighted the UAE’s global leadership in humanitarian and relief operations, emphasising the importance of rapid emergency response, deployment of search-and-rescue capabilities, and implementation of programs to mitigate the impact of natural disasters—most recently the severe flooding and landslides in Sri Lanka.
Dr. Tareq Ahmed Al Ameri, Chairman of the UAE Aid Agency, affirmed the UAE’s continued commitment to its international humanitarian responsibilities. He noted that the UAE will maintain its support by sending additional relief supplies and shelter materials to assist affected families and accelerate the early recovery phase for the people of Sri Lanka.
A spokesperson for AFC/M23, Lawrence Kanyuka, announced on the afternoon of December 2, 2025, that the five injured included one man, one woman, and three children.
Kamanyola is located in the Walungu territory in the South Kivu province and has been under the control of AFC/M23 fighters since February 2025.
Fierce fighting occurred in areas not far from Kamanyola, such as Katogota and Luvungi in the Uvira territory. These clashes, which started in the early morning, pitted AFC/M23 fighters against the DRC military, supported by Wazalendo, FDLR, and Burundian forces.
Residents of Kamanyola reported that before the fighting started, they saw hundreds of soldiers with tanks and heavy weapons moving to set up defense in the surrounding areas.
These residents, along with those from other areas like Katogota and Luvungi, said that the fighting has prevented them from carrying out their daily activities due to its intensity.
In Bukavu, a city controlled by AFC/M23 since February, residents also reported hearing gunfire, suggesting that fighting was taking place there as well.
The ongoing battles between AFC/M23 and the coalition of DRC government forces present a major challenge for the government of Qatar. Not long ago, Qatar brokered an agreement between the two sides for a ceasefire, hoping it would lead to productive peace talks.
Qatar’s Minister of State at the Ministry of Foreign Affairs, Dr. Mohammed bin Abdulaziz Al-Khulaifi, mentioned in mid-November that it was extremely difficult to bring together sides that continue to fight, but that their country would continue to work towards achieving peace.
Born in 1964 in Gasebeya Sector, Commune Gaseke, in the former Gisenyi province, General Omega fled to the eastern Democratic Republic of Congo (DRC) after Habyarima’s soldiers’ defeat by the Rwanda Patriotic Army (RPA). He held the rank of Lieutenant at the time.
Innocent Tuyubahe, who served as General Omega’s bodyguard from 2016 to 2022, returned to Rwanda nearly two years ago. He shared extensive insights with IGIHE about Omega’s life in the forested regions of DRC.
Despite the DRC government’s claims that FDLR fighters, especially its aging leaders, are no longer strong, Tuyubahe insists that Gen Omega is still a powerful figure.
{{A paranoid leader}}
Gen Omega is known for his reluctance to trust those around him, including his fellow rebels.
His distrust is so deep that he often takes measures such as secretly inspecting military facilities and monitoring his subordinates by seizing their phones to check their contacts, especially those with people in Rwanda.
“Omega, in his personal life, is a very distrustful person. Even those guarding him at his base aren’t trusted. Nobody can be seen fraternizing with him. He often looks as though he’s angry, restless, and always moving around. He’s constantly checking, even taking our phones to investigate who we’re communicating with,” explained Tuyubahe.
It is not uncommon for FDLR fighters to seek out phone numbers of their family members back in Rwanda to coordinate plans for potential return. Gen Omega has been known to impose severe punishments on anyone caught trying to make such contact, including transferring them to a distant base, subjecting them to severe beatings (between 200 and 300 lashes), or even execution.
“If you lived in the camp, he would immediately transfer you to another battalion, accusing you of being a traitor. He would send you away, ensuring you never cross paths with others. And you would be beaten, 200 to 300 lashes,” Tuyubahe added.
{{Punishing alleged traitors}}
There was an instance when Tuyubahe himself was caught after talking to his sisters. Omega held an emergency meeting and interrogated him, demanding to know if his conversation involved any plans to return to Rwanda. Tuyubahe denied it, but Omega insisted on punishing him severely, ordering 300 lashes and seizing the phone he had used to communicate with his family.
As he said, Omega’s leadership is characterized by brutal decision-making. If he suspects someone of betrayal, he might sentence them to death.
However, Tuyubahe says, he tries to avoid being directly implicated in their deaths, often ordering other soldiers to carry out executions, ensuring it appears as though the victim died in an ambush laid by local militias like the Nyatura or Mai Mai.
{{Omega’s spiritual side}}
Tuyubahe described General Omega as a Catholic who regularly attends Mass. He also has a group of spiritual advisers, whom he consults for guidance about his future and the fate of the FDLR.
“Did you know that while we were in Paris (a camp in Rutshuru), he had a group of spiritual advisers, including Chantal and another woman named Francine? Their pastor, Mulume, had recently died before we left Paris,” he shared.
Tuyubahe also disclosed that FDLR fighters often hold religious services before going into battle, seeking divine approval. These prayers are typically held at night, between 3:00 a.m. and midnight. Once the prayers conclude, leaders assign tasks to the fighters based on their visions.
“These prophets are highly trusted, sometimes they have the power to either kill or save someone. If a prophet and a fighter have a dispute, the prophet can lie to Omega, accusing the fighter of being a traitor,” Tuyubahe explained.
{{Omega’s refusal to return to Rwanda}}
Gen Omega has been approached several times by Rwandan officials, including the former State Minister for Foreign Affairs, General (Rtd) James Kabarebe, who urged him to return to Rwanda and join the process of national rebuilding, reassuring him that he would not face justice because he played no role in the 1994 Genocide against the Tutsi. Despite these appeals, Omega has remained resolute in his refusal.
Gen (Rtd) Kabarebe reminded Omega that his military skills were being wasted and that if he returned to Rwanda, he would not be prosecuted for his involvement in the Genocide.
However, Omega responded firmly, stating that he would never return to Rwanda as long as the Tutsi were still alive there. In response, Kabarebe said that Omega would never step foot in Rwanda alive.
Tuyubahe recalled a conversation with Omega, during which he asked what would happen if he were captured. Omega replied, “I would shoot myself,” showing his determination never to return to Rwanda alive.
{{Omega’s escape plans}}
Whenever the FDLR camps are about to be attacked, Omega prepares to escape, ensuring his personal safety while leaving many of his fighters behind.
Tuyubahe described how, during operations, Omega would flee with only a handful of bodyguards, leaving the rest of the FDLR fighters to fend for themselves.
“During operations, when the enemy came to attack, Omega would take only about 12 of his guards, leaving the others to escape in smaller groups and regroup later,” said Tuyubahe.
He went on to explain that during rare trips to visit the FDLR camps, Omega would address the fighters, motivating them and boosting morale. He would remind them not to be like those who ran away from battles, and ensure that they remained loyal to the cause.
When Tuyubahe last encountered Omega, he had no significant personal property, unlike Ruvugayimikore Protogene, also known as ‘Colonel Ruhinda,’ who owned farms.
Omega was often seen carrying a small bag with money, while other funds were stored by those responsible for managing finances within the FDLR. During Omega’s time at the Paris camp, Lt Gen Byiringiro was stationed at the political headquarters in Kazaroho.
Tuyubahe noted that, despite both being key figures in the FDLR, these two leaders rarely interacted, even when they were both present at senior leadership meetings.
The developments mark the latest phase in the company’s efforts to enhance service quality and meet rising demand for modern fitness facilities in the city.
The fitness centre has expanded training spaces, installed new equipment, and bolstered its coaching staff in recent months. Management says the improvements are part of a broader strategy to deliver a safer, more efficient, and motivating environment for its members.
“Our focus has always been on giving our members real value, better equipment, more classes, and professional guidance,” the FitnessPoint Management Team said in a statement. “The improvements we’ve made are all geared toward creating an elevated fitness experience for everyone who trains with us.”
Alongside the upgrades, FitnessPoint has introduced special promotional prices valid from 2 to 31 December. The discounts precede a revised pricing structure that will take effect in January 2026.
Under the festive-season offer, a six-month membership has been reduced to Rwf 300,000 from Rwf 350,000. Couples will pay Rwf 880,000, equivalent to Rwf 440,000 per person, down from Rwf 990,000.
Annual membership has also been revised to Rwf 490,000 from the previous Rwf 600,000.
“These festive-season prices are our way of saying thank you to our community,” management added, encouraging members and new clients to take advantage of the limited-time rates.
FitnessPoint says the upgrades and temporary discounts underline its commitment to promoting healthier lifestyles in Rwanda by providing accessible and professional fitness services.
Classic Optic’s journey began in humble surroundings on the ground floor of the Umyenzi Plaza building in Remera, Kigali.
Despite a small team, the company quickly garnered a loyal following, thanks to its exceptional customer service and attention to the unique needs of each client.
The professionalism of the staff and their commitment to patient care played a key role in establishing the company as a trusted name in Kigali’s optical sector.
{{Key milestones}}
Over the years, Classic Optic has achieved significant milestones in its expansion strategy. In 2018, the company opened its first branch in Gisenyi, followed by another in downtown Kigali at the MIC Building in 2020.
Though some branches faced challenges and were short-lived due to internal reasons, the company’s growth has been steady and impactful.
Furthermore, Classic Optic has developed partnerships with insurance companies and international organizations, ensuring it stays at the forefront of innovation with the latest optical equipment and technology.
The company’s success can largely be attributed to the loyalty of its customers, whose experiences highlight the personalized care and attention they receive.
One client shared, “Thanks to Classic Optic, I regained visual comfort at work. Their team was attentive from start to finish.” Another added, “Beyond just glasses, I received real support and advice tailored to my vision and budget.”
{{A decade of dedication and forward-looking vision}}
As it looks toward the future, Classic Optic has ambitious plans for the next decade. The company intends to expand its presence by opening new branches in every city across Rwanda, while also fostering the training and development of young Rwandans in the fields of optics and optometry.
According to the management, continuing education for its staff will remain a priority to maintain a high level of expertise with a clear goal to provide accessible, high-quality visual health services for everyone, without compromise.
Ten years after its establishment, Classic Optic remains steadfast in its mission to deliver technical excellence, innovative solutions, and close relationships with both clients and partners.
For Samson Botoh and his team, this anniversary marks not an end, but the beginning of an exciting new chapter in their dedication to the vision and well-being of the people of Rwanda.
The wetlands being restored include Kibumba, Gikondo, Rugenge Rw’Intare, and Nyabugogo, with Real Contractors Limited collaborating with NPD, another construction company in Rwanda.
The total area under restoration spans 491 hectares, with Gikondo covering 162 hectares, Nyabugogo 131 hectares, Kibumba 68 hectares, and Rugenge-Rwintare 65 hectares.
Fred Bugingo, Managing Director of Real Contractors Limited, stated that the restoration of these wetlands is aimed at preventing flooding in Kigali, protecting biodiversity, and filtering water that flows through the area.
“The restoration of these wetlands will help the City of Kigali mitigate flooding, especially in areas like Nyabugogo, where flooding was once a significant issue,” Bugingo explained.
To further protect the environment, the company has installed waste collection traps to capture debris that typically flows into the wetlands from rainwater and surrounding areas.
“We’ve been installing traps designed to capture waste in rainwater, as it often carries significant debris,” he added.
In total, 142 waste collection traps have been installed across the wetlands. Gikondo has 24 traps, Kibumba 16, Rugenge-Rwintare 48, and Nyabugogo 30.
The Gikondo wetland will include special features aimed at attracting tourists, such as educational spaces, a restaurant, and rest areas.
Rugenge-Rwintare will feature a large 5-hectare pond that collects water from Rwampara and Gikondo, designed to showcase Rwanda’s advancements in environmental conservation.
The Kibumba wetland will focus on fishing, with several ponds and a designated area for a flower garden, along with a facility for showcasing fishing-related activities in Rwanda.
The Nyabugogo wetland will be dedicated to research and education focused on biodiversity conservation.
Since the restoration began, wildlife has already begun returning to the wetlands, according to the management at Real Contractors Limited.
