Kapwepwe was hosted on Tuesday 2nd August 2022 at Urugwiro Village.
Chileshe Kapwepwe who is on a visit to Rwanda was hosted at Urugwiro Village after meeting with officials from the Ministry of Foreign Affairs, Ministry of Trade and Industry as well as representatives from the Private Sector Federation (PSF).
As she was hosted at Urugwiro Village, Rwanda’s Presidency has revealed, Kapwepwe updated President Kagame on ongoing COMESA activities.
Also present at the event, was the Minister of Foreign Affairs, Dr. Vincent Biruta and the Minister of Trade and Industry, Dr. Jean Chrysostome Ngabitsinze.
Kapwepwe took office as COMESA Secretary-General in 2018.
COMESA was initially established in 1981. It comprises 21 African Member States that came together with the aim of promoting regional integration through trade and the development of natural and human resources for the mutual benefit of all people in the region.
The move follows the group’s acquisition of the Banque Populaire du Rwanda PLC (BPR), Rwanda’s second biggest bank from Atlas Mara Mauritius Limited and Arise B.V. last year.
The new transaction will see the group based in Kenya adding DRC to existing markets including Uganda, Rwanda, Tanzania, South Sudan and Burundi.
According to a joint statement released by KCB Group and TMB, the transaction is expected to close by the end of the third quarter of 2022, subject to regulatory, shareholders and other approvals. This will see KCB acquire 85% of the shares in TMB while the existing shareholders will continue to hold the balance for a period of not less than 2 years after which, KCB will acquire their shares.
KCB will pay a cash consideration for the shares determined based on the net asset value of TMB at completion of the proposed transaction, and using a price to book multiple of 1.49.
TMB, a public company limited by shares, is one of DRC’s largest banks with US$1.5 billion in total assets. TMB has a strong offering in Retail, SME, Corporate and Digital banking channels. It has over 110 branches and numerous agency banking outlets spread across DRC.
This acquisition is aligned with the Group’s strategic focus of scaling its regional presence. Once completed, this acquisition will complement KCB Group’s regional footprint with an asset base of KShs. 1.5 Trillion (USD 12.6 billion) and is expected to strengthen the Group’s Retail and Corporate banking franchises.
Andrew Wambari Kairu, KCB Group Chairman has said that the move is part of ongoing strategy to tap into opportunities for new growth while investing in and maximizing returns from the Group’s existing businesses.
“It gives us strong headroom to accelerate our growth ambitions to deliver better value for our shareholders and to bolster the push for deeper financial inclusion and social and economic transformation in Africa and beyond. We are excited that we can now play a role in catalyzing DRC’s and indeed East Africa’s economic expansion agenda,” he revealed.
Commenting on the development; Robert Levy, TMB Chairman expressed delight for inking the deal with KCB Group.
“We are very excited about the opportunities KCB offers in this transaction and we are proud to bring our unique DRC insights and experience to the KCB Group. We believe that by combining our local knowledge and standing with the size and expertise of KCB Group, we should be able to increase market share and shareholder value through unlocking our synergies and business opportunities,” he noted.
With the acquisition, TMB customers will benefit from best-in-class digital capabilities, transactional banking solutions, trade finance expertise and access to regional business opportunities offered by KCB Group. TMB will give KCB Group access to Africa’s second-largest country with a population of over 93 million people.
In the three months ending March 2022, KCB Group PLC profit after tax surged 54.6% to KShs. 9.9 billion. This rise from KShs. 6.4 billion in a similar period last year was boosted by growth in total income and reduction in loan loss provision.
Revenues increased by 26.0% to KShs. 29.0 billion on account of an increase in interest income, increase in non-funded income from lending activities and service fees and a 21.1% rise in earning assets.
One of the suspected traffickers identified as Safari Emmanuel Hafashimana, 25, was arrested red-handed in Karembo Village, Rwantonde Cell, Gatore Sector of Kirehe District with 3.5kgs of cannabis.
In Nyagatare, Police seized 23kgs from another trafficker, who fled during the operation conducted in Rutoma Village, Ndego Cell, Karama Sector.
Superintendent of Police (SP) Hamdun Twizeyimana, the Police spokesperson for the Eastern region, said that the suspects were reported by residents.
“The drug dealers were reported by area residents that they were attempting to sneak narcotics into Rwanda from neighbouring countries. Operations were conducted concurrently and Hafashimana was arrested in Rwantonde cell with 3.5kgs of cannabis, which he was sneaking into Rwanda from Tanzania,” SP Twizeyimana said.
Hafashimana and his exhibits were handed over to RIB at Gatore station for further legal process.
In an operation conducted in Nyagatare, SP Twizeyimana said the drug dealer, who escaped, dropped a sack of 23kgs of cannabis, which he had trafficked into Rwanda from Uganda.
SP Twizeyimana warned of the severe consequences of dealing in narcotic drugs and urged the public to report anyone they suspect to be engaged in such high impact crimes.
The Ministerial order No. 001/MoH/2019 of 04/03/2019 establishing the list of narcotic drugs and their categorization classifies cannabis in the category of “very severe narcotics.’’
Article 263 of law No 68/2018 of 30/08/2018 determining offenses and penalties in general states that any person, who unlawfully produces, transforms, transports, stores, gives to another or who sells narcotic drugs and psychotropic substances, commits an offence.
Upon conviction for “very severe narcotics,” the offender faces between 20 years and life imprisonment, and a fine of between Rwf20 million and Rwf30 million.
The appointment of the two new cabinet members was announced on Saturday 30th July 2022.
The swearing-in ceremony which took place on Tuesday 2nd August 2022 at the parliamentary building in Kimihurura was attended by government officials and envoys accredited to Rwanda.
The Ministry of Public Investments and Privatisation led by Rwigamba follows the establishment of the Ministry of National Unity and Civic Engagement in July last year. This has brought the number of ministries to 22.
Meanwhile, Musafiri replaced Dr. Jean Chrysostome Ngabitsinze who was named the Minister of Trade on the same day.
Similar event was last held in February this year when President Kagame officiated the swearing-in of the Minister of Infrastructure, Dr. Ernest Nsabimana and the State Minister in the Ministry of Infrastructure, Patricie Uwase.
As he addressed participants of the event, President Kagame assured support to the new leaders. The Head of State said that they are not new in government positions and urged them to continue serving the nation.
The new Ministry of Public Investments and Privatisation will focus on public investments that are profit oriented.
Key responsibilities include among others; identifying opportunities for government investment, monitoring performance of the existing government investments in various companies and implementing privatization of public investments where necessary. Kagame has stressed the need to complete the privatization of some state-owned enterprises with urgency.
He also recommended reforms in the agriculture sector aimed at strengthening the country’s response to emerging situations of global concern.
Currently, Inzozi Lotto has Jackpot lotto which is a weekly drawing game held on Sundays. The new game will offer Inzozi Lotto players an opportunity to win big every day.
“We expect the new game to engage more players, offer an opportunity to change the financial lives of many but also accelerate revenue generation for our sport projects. By adding a fourth game to Inzozi Lotto, it will help players win even bigger when playing the lottery,” said Thierry Nshuti, the Deputy Managing Director of Inzozi Lotto. It will also help generate faster-growing winnings amount on a daily and weekly basis.
{{How it works}}
Igitego Lotto offers players a day drawing, which means any player, has a chance to win. Every day at 5:00pm, one ticket will be drawn from the tickets purchased that day, and the winner will receive 47% of the total IGITEGO LOTTO tickets purchased that day, excluding tax.
{{Here’s how to play:}}
• The player chooses two digits from the 6 numbers that make up a ticket.
• The player can decide if they want their 2 digit numbers at the beginning, middle or last place or they can choose to write their own 6 digits a whole number.
• Once you have selected your two numbers, you are presented with a list of all remaining tickets with the numbers you have selected, and confirm when you are happy with your numbers.
• Igitego lotto ticket costs just Rwf200 and you can buy as many tickets as you want.
{{About Inzozi Lotto}}
The Ministry of Sports in partnership with Carousel LTD launched the Rwanda National Lottery with a goal to develop professional sports in the country. The Lottery operates under the commercial brand – Inzozi Lotto.
Inzozi Lotto has 3 other games including; Quick Lotto that is drawn every 10 minutes, Quick 10 that is drawn every 5 minutes, and the Jackpot Lotto that is drawn every week. Inzozi Lotto tickets range from Rwf300 – 500 and can be purchased from agents on the streets, from mobile by dialing *240# or through the Inzozi Lotto website https://www.inzozilotto.rw
The figures were revealed during a shareholder’s Annual General Meeting held on 31st July 2022.
The management of Copedu Plc told shareholders that the microfinance institution registered Rwf2.131 billion profit in 2021 representing 36% increase compared to Rwf1.571 billion of 2020.
Among others; clients’ deposits increased by 15% from Rwf22.613 billion in 2020 to Rwf26,035 billion in 2021.
According to the Managing Director of Copedu Plc, Raïssa Muyango; the microfinance’s net capital grew by 16% from Rwf29.928 billion to Rwf34.617 billion.
The Vice- Chairperson of the Board of Directors at Copedu Plc, Joseph Ntabwoba said that the steady increase in profits reflects smooth implementation of the company’s vision.
The microfinance has also revamped its Push & Pull services in order to continue satisfying customers.
The general meeting elected Euphrasie Uwase Maneno as the new Chairperson of the Board of Directors replacing Liliane Gashumba.
Established in 1997, Copedu Plc has gradually grown and introduced new payments or withdrawing methods using Debit Card and depositing or withdrawing using ‘Push and Pull’ System.
President Paul Kagame had requested for these teachers as he delivered remarks at Rwanda-Zimbabwe Trade Conference in September 2021.
At the time, he said that cooperation in infrastructure development including schools is of crucial significance noting that the priority should be given to human resource.
He highlighted that Rwanda is ready to hire whatever number of quality teachers available.
As he addressed both chambers of parliament on Monday 1st August 2022, Premier Ngirente said that the government will continue to implement agreements regarding the exchange of expert teachers signed with partner countries and international organizations with a view to promote languages’ education.
He disclosed that Rwanda has so far received 63 teachers from the Organisation Internationale de la Francophonie (OIF) to teach French language.
The second batch comprising 45 teachers was received in April this year through “mobility project” launched by OIF to enhance French language teaching among its member states.
The project which started with countries including Rwanda, Ghana and Guinea is expected to reach 10 countries.
“The government is collaborating with Zimbabwe where we are set to receive 477 teachers to support the education sector in enhancing English language teaching,” said Premier Ngirente.
He did not shed light on timelines for their arrival but revealed that they will initially be sent to Teachers’ Training Colleges (TTCs), universities and the College of Education so that it can release competent English teachers.
Zimbabwe is among countries reputed for quality education since the colonial rule in the 1980s up to date.
The appointment was made following the resolution of BK Group Plc Board of Directors dated 1st 2022.
Habyarimana served as the Minister of Trade and Industry for one year and three months
Dr. Diane Karusisi who previously served as the CEO of the group has retained duties as CEO of Bank of Kigali Plc. Dr. Karusisi took over as the CEO of Bank of Kigali in 2016 replacing Dr. James Gatera.
Commenting on the appointment; the Chairman of the Board of Directors of BK Group Plc, Marc Holtzman expressed delight for the appointment of Béata Habyarimana.
“Her leadership and vast experience in the financial sector will be instrumental in driving BK Group strategy and future growth ambitions. Béata will work closely with the CEOs of our four subsidiaries: Dr. Diane Karusisi, CEO of Bank of BK Capital and Claude Munyangabo, CEO of BK TecHouse,” he said.
Habyarimana is an economist and financial advisor by profession with over 19 years of experience in the financial industry in domestic, as well as Pan-African and international institutions.
Previously, she served as the Minister of Trade and Industry from March 2021 to July 2022. Prior to that, Habyarimana was the Deputy Managing Director of Bank of Africa and Chief Executive Officer of Agaseke Bank.
She holds a Master of Business Administration majoring in Finance from Maastricht School of Management in The Netherlands and a Bachelor degree in Public Economics from University of Rwanda.
{{About BK Group Plc}}
BK Group Plc is a home-grown, award-winning Rwandan institution with deep roots in the African financial space since its inception in 1966.
Over the years, BK Group Plc has gradually transformed into a premier one-stop-shop, with a full range of financial services offered under a single roof.
Today, it stands as the largest commercial bank in Rwanda by total assets.
The Group’s activities range from retail and corporate banking to asset management and investment banking as well as a comprehensive range of nonlife insurance products and innovative enterprise solutions.
BK Group Plc is listed on both the Rwandan Stock Exchange, having floated its shares in 2011, and the Nairobi Stock Exchange (since 2018).
One Damascene Mukurizehe, 34, was arrested red-handed at his home in Rwebishorogoto village, Gasinga cell, Rwempasha sector with 40 litres of Kanyanga while 98 litres were seized from traffickers in Matimba and Karama sectors, who fled.
The Eastern region Police spokesperson, Superintendent of Police (SP) Hamdun Twizeyimana said that the suspects’ illegal business was reported by the residents in the area.
“They had sneaked kanyanga into Rwanda from Uganda through porous border points and Police has prior information in the routes they were using,” said SP Twizeyimana.
The illicit gin was packed in bottles and jerrycans.
Mukurizehe and exhibits were handed over to RIB at Rwimiyaga station for further investigations.
The Ministerial Order nº 001/MoH/2019 of 04/03/2019 establishing the list of narcotic drugs and their categorisation, lists Kanyanga among “simple drugs.”
Article 263 of law No 68/2018 of 30/08/2018 determining offenses and penalties in general, states that any person, who unlawfully produces, transforms, transports, stores, gives to another or who sells narcotic drugs and psychotropic substances, commits an offence.
Upon conviction for simple drugs, the offender faces between seven and ten years and a fine of not less than Rwf5 million but not more than Rwf10 million.
Rwanda National Police increased operations in Nyagatare and other districts where trafficking of kanyanga is still common.
Premier Ngirente has announced the development as he presented achievements of the government in the education sector under the National Strategy for Transformation (NST1) to both chambers of parliament.
The new plan will see the salary of primary school teachers holding A2 degrees increased by 88% while others with A0 and A1 degrees will receive 40% salary increment.
The salaries of head teachers, deputy head teachers and support staff working in public and government aided schools have been also revised upwards.
The decision will go into force effective from August 2022.
Premier Ngirente has also said that injected additional Rwf5 billion into the Teachers’ Savings and credit Cooperative (Umwalimu SACCO), in this fiscal year to increase its capacity to provide loans.
He expressed optimism that injected funds will further improve teachers’ welfare.
Normally, a newly recruited teacher paid on the basis on A2 degree received Rwf57,000 per month. A new teacher paid on the basis of A1 diploma used to receive Rwf137,000 while a recruited teacher paid on the basis of A0 degree would receive Rwf160,000 net salary.
As per new payment scheme, teachers with A2 degree will get a salary increment of Rwf50,849 while those paid on the basis of A1 and A0 degrees will have their salaries increased by Rwf54,916 and Rwf70,195 respectively.
Teachers to benefit from the pay rise include 68,207 holding A2 degree; 12,214 with A1 degrees and 17,547 teachers paid on the basis of A0.
At least 10,000 teachers would quit their jobs every year. Premier Ngirente has revealed that low salary was among reasons pushing them to give up on their jobs.
He expressed confidence that the salary increment will enable them to remain stable.
From November 2020 to August 2022, the Government of Rwanda recruited 28,512 new teachers in primary and 13,889 others in secondary schools.
