The IPO values the company at about 1.77 trillion dollars, according to reports. SpaceX shares are expected to begin trading on the Nasdaq on Friday. In terms of fundraising size, the IPO would set a record for an initial public offering. Based on the valuation, SpaceX would rank among the top 10 most valuable U.S.-listed companies.
Founded by U.S. entrepreneur Elon Musk in 2002, SpaceX has businesses in space launch services, satellite internet and artificial intelligence. The IPO has drawn strong market attention, while the company’s high valuation has also prompted discussion among market watchers about its profit outlook and the sustainability of its future growth.
Reports said SpaceX’s listing arrangement breaks with some Wall Street conventions, including setting the IPO price in advance and reserving a relatively high proportion of shares for retail investors. Musk will retain strong voting control over the company after the IPO.
Given Musk’s large stake in SpaceX, the valuation could significantly increase the value of his holdings and make him the world’s first trillionaire.
Founded by U.S. entrepreneur Elon Musk in 2002, SpaceX has businesses in space launch services, satellite internet and artificial intelligence.
Rwanda has strongly rejected allegations by Human Rights Watch (HRW) linking the Rwanda Defence Force (RDF) to forced recruitment, arbitrary detention and other abuses in eastern Democratic Republic of Congo (DRC), accusing the rights organisation of relying on unverified claims while overlooking the role of armed groups backed by Kinshasa.
The response follows the publication of a 78-page HRW report on June 10, which alleges that Rwandan military forces and the M23 rebel movement carried out large-scale forced recruitment and abusive detention of captured combatants and civilians in North and South Kivu provinces between mid-2024 and December 2025.
In a statement posted on X, Government Spokesperson Yolande Makolo dismissed the report as part of a long-standing pattern in HRW’s reporting on Rwanda.
“Human Rights Watch on Rwanda is a 30-year pattern: anonymous claims, no site visits or forensics, sanctions first and investigation later,” Makolo wrote.
She argued that HRW ignored its own findings regarding the involvement of other actors in the conflict, including the Democratic Republic of Congo’s military, the FDLR militia, Wazalendo groups, foreign mercenaries and Burundian forces.
“It should be clear that the RDF is not AFC/M23,” Makolo said. “Any serious investigation requires impartiality, access, forensic rigour, due process, and not conclusions announced in advance, or bombastic calls for sanctions.”
Makolo added that the Washington peace accords remain “the path forward” for addressing insecurity in eastern DRC through dialogue, accountability and regional cooperation.
Rwanda rejects allegations
In a more detailed statement issued by the Office of the Government Spokesperson, Rwanda faulted HRW’s attempt to treat the RDF and M23 as a single actor.
“Alleged M23 conduct cannot be treated as RDF conduct,” the statement said.
The government accused HRW of applying “selective accountability” by focusing primarily on Rwanda and M23 while paying insufficient attention to abuses committed by Congolese government forces and their allies.
According to Kigali, HRW’s own report acknowledges that the Congolese army has supported armed groups opposed to M23, including the FDLR, a militia formed by perpetrators of the 1994 Genocide against the Tutsi.
The statement also cited passages in the report saying Congolese authorities armed, financed and coordinated operations with Wazalendo militias and that government support for such groups contributed to human rights violations.
“Selective accountability applied with selective investigative depth is not accountability,” the government said.
Questions over methodology
Rwanda also poked holes in HRW’s methodology.
The government argued that the report relied heavily on anonymous testimony and lacked on-the-ground forensic investigations.
According to Kigali, no investigators visited the locations where the alleged abuses occurred, no exhumations were conducted and no forensic examinations were undertaken.
The statement also criticised HRW for presenting allegations as established facts while acknowledging uncertainty in sections of the report dealing with legal assessments and satellite imagery.
“An investigation whose conclusions are announced in advance is not an investigation,” the statement said, while reiterating Rwanda’s support for “genuine, independent investigation” based on access, forensic evidence and due process.
FDLR threat
On the FDLR, Rwanda highlighted the militia as a key security threat and accused HRW of failing to adequately examine its role and links to Congolese government forces.
The government argued that any assessment of the conflict must address root causes of insecurity in eastern DRC, including the continued presence of the FDLR near Rwanda’s border.
Kigali also accused HRW of failing to scrutinise alleged violations of the Washington Accords by Kinshasa while placing disproportionate focus on Rwanda and M23.
Rwanda said it remains committed to regional peace initiatives and to pursuing security, accountability and cooperation through diplomatic processes.
“The Washington Accords are the most credible path forward,” the government said, adding that Rwanda would continue to support “a regional solution rooted in dialogue, fairness, and partnership.”
According to the latest situation report released on Thursday by the DRC’s health authorities, 41 new confirmed cases, including nine deaths, were reported on Wednesday in the provinces of Ituri and North Kivu.
The outbreak, caused by the Bundibugyo strain of the Ebola virus, has so far affected 29 health zones across three eastern provinces: Ituri, North Kivu and South Kivu.
The latest official assessment said confirmed cases have been increasing from week to week, indicating continued community transmission. It warned that a sudden geographic expansion of the outbreak is feared if public health measures are not implemented quickly.
Health authorities also said 5,768 contacts were under follow-up across the three affected provinces, with a follow-up rate of 71.8 percent. The report listed weak contact tracing as one of the main challenges, saying the current rate remains below the 95-percent target and could compromise efforts to interrupt transmission chains.
Two Ebola patients in Bunia, the capital of Ituri Province, were declared recovered, bringing the cumulative number of recoveries to 32, the report said.
The current Ebola outbreak in the DRC, the country’s 17th since the disease was first identified in 1976, was officially declared on May 15. The affected provinces, with a combined population of nearly 15 million, are marked by large-scale internal displacement and cross-border population movements toward neighboring countries, according to the report.
Red Cross workers bury an Ebola victim at the Rwampara Cemetery, in Rwampara, Congo, May 23, 2026.
The bank’s semi-annual Global Economic Prospects report cited higher energy prices, steeper inflation and increased borrowing costs amid the Middle East conflict for the growth cut.
Downside risks are significant, the report warned. Global growth could further slow to 2.1 percent if the energy disruptions lasted longer and oil prices averaged 115 U.S. dollars per barrel this year, driving inflation to 4.4 percent; or worsen to 1.3 percent if the energy shock affected financial markets.
The report lowered growth forecast for two-thirds of countries compared to its January report this year, with countries in the Gulf taking the biggest cuts from 3.9 percent in 2025 to close to zero in 2026.
South Asia is expected to have the strongest growth of any region at 6.3 percent in 2026, still a slowdown from 7 percent in 2025.
The report maintained its 2.2 percent growth forecast for the U.S. economy in 2026, although it noted that this figure could drop to 2.1 percent in 2027 and 2 percent in 2028.
Economy in the euro area is expected to grow 0.8 percent in 2026, down from 1.4 percent in 2025. Japan’s gross domestic product is forecast to grow 0.7 percent in 2026, down from 1.1 percent in 2025.
The report expects global growth to improve to 2.8 percent in 2027, but this will remain 0.4 percentage points below the average in the 2010s.
While risks remain skewed to the downside amid escalating hostilities, further commodity market disruptions and additional geopolitical strains, the bank holds that policy action is critical.
Globally, the World Bank urges concerned countries to safeguard energy and food security and advance the energy transition; domestically, it urges all countries to control inflation, strengthen fiscal sustainability and support job creation.
The World Bank on Thursday lowered its global growth forecast to 2.5 percent for 2026.
In a statement released on Thursday, UEFA announced that the 34-year-old Somali official will take charge of the prestigious season-opening clash between UEFA Champions League winners Paris Saint-Germain and UEFA Europa League champions Aston Villa on August 12 in Salzburg, Austria.
The appointment is one of the first high-profile initiatives under a recently signed memorandum of understanding between UEFA and CAF, which aims to strengthen cooperation in areas including refereeing development. It is being hailed as a significant recognition of Artan’s standing among the world’s elite referees.
Artan, who has been on FIFA’s international referees list since 2018, was selected by FIFA to officiate at the 2026 World Cup. However, he was unable to participate after being refused entry into the United States, ending what would have been a historic appearance as the first Somali referee at football’s biggest tournament.
Somalia is among nearly 40 countries affected by recent travel restrictions under the Trump administration’s immigration policy overhaul.
Artan returned to Mogadishu to a hero’s welcome yesterday, with supporters and football officials celebrating his achievements despite the disappointment surrounding the World Cup setback.
UEFA President Aleksander Čeferin said the decision to appoint Artan reflects both his exceptional refereeing abilities and football’s power to unite people across borders.
“Omar Artan is an excellent young but already experienced referee, who has proven himself at the highest competition level of the Confederation of African Football,” Čeferin said. “Football is made to connect people, and UEFA wants to show its respect to Omar and his outstanding officiating skills, which had earned him such a prestigious nomination.”
Artan has steadily built a reputation as one of Africa’s leading match officials. Among the most notable fixtures of his career was the second leg of the 2025-26 CAF Champions League final. His performances earned him the CAF Men’s Referee of the Year award in 2025.
CAF President Dr. Patrice Motsepe welcomed UEFA’s decision, describing it as recognition of both Artan’s achievements and the growing influence of African referees on the global stage.
“Omar Artan has made Somalia and the entire people of the African continent extremely proud,” Motsepe said. “His appointment as a referee of the FIFA World Cup 2026 and his receipt of the CAF Men’s Referee of the Year Award are recognition of his world-class refereeing ability and the international respect that he enjoys.”
UEFA announced that the 34-year-old Somali official will take charge of the prestigious season-opening clash between UEFA Champions League winners Paris Saint-Germain and UEFA Europa League champions Aston Villa on August 12 in Salzburg, Austria.
The support will back key elements of Rwanda’s National Ebola Preparedness and Contingency Plan, with a focus on strengthening surveillance and early detection systems, improving Infection Prevention and Control (IPC), and enhancing Water, Sanitation and Hygiene (WASH) services in high-risk areas, including border points.
The programme will also support risk communication and community engagement initiatives aimed at ensuring that communities have access to clear and accurate information on prevention measures and disease transmission.
In parallel, the UK will provide an additional £800,000 to Burundi to support its Preparedness and Response Plan for Viral Haemorrhagic Fevers, targeting similar priority areas, including surveillance, IPC, WASH, and public awareness.
Across the region, the UK will also invest in strengthening data and information management systems to improve risk monitoring and enhance coordination in the event of outbreaks. The programmes will be implemented through partners working in support of national government plans under the UK’s Tackling Deadly Diseases in Africa Programme (TDDAP2).
The British High Commission said the initiative builds on recent collaboration in responding to public health emergencies and reflects the UK’s commitment to supporting partner countries in strengthening health security and preventing outbreaks before they escalate.
Development Director at the British High Commission in Kigali, Billy Stewart, said the support is aimed at protecting lives through stronger preparedness systems.
“At the heart of this support is a simple goal: saving lives,” he said. “By strengthening preparedness, improving prevention measures, and supporting communities with clear information, the UK is helping Rwanda and Burundi reduce the risk of Ebola outbreaks and protect their people.”
The announcement comes as health authorities across the region continue to monitor Ebola outbreaks affecting parts of East and Central Africa, involving the Bundibugyo strain, a particularly concerning variant for which there is currently no approved vaccine or specific antiviral treatment.
Health officials say this makes surveillance, early detection and rapid response critical to containing the disease. Recent data indicates that the Democratic Republic of Congo has reported 635 confirmed cases and at least 127 deaths, while Uganda has recorded 19 confirmed cases and two deaths, with infections reported in Kampala, Wakiso, and western border districts.
In Rwanda, officials have moved to reassure the public that robust prevention systems remain in place. Speaking during a June 6 briefing, Prime Minister Dr Justin Nsengiyumva said the country has strengthened surveillance, prevention and response systems to guard against potential importation of the virus while maintaining normal economic and social activity.
“The Ebola outbreak continues to be reported in the eastern region of Africa. However, Rwanda has strengthened its prevention measures and monitoring, and we are confident in protecting the lives of our citizens without disrupting economic activities and the normal social life of the population,” he said.
Health Minister Dr Sabin Nsanzimana said Rwanda’s preparedness strategy is built on five pillars: public awareness and communication, surveillance, detection capacity, response capability, and human resources. He added that Rwanda has strengthened early detection systems, particularly at border points, with the ability to return test results within hours.
He also noted that ongoing simulation exercises and training for health workers and emergency responders are part of efforts to ensure rapid and coordinated response in the event of an outbreak.
The Ministry of Health and the Rwanda Biomedical Centre continue to monitor developments in neighbouring countries closely and have urged the public to remain vigilant, observe hygiene practices, and report symptoms early.
Health Minister Dr Sabin Nsanzimana visited Rusizi District in late May to assess ongoing Ebola preparedness efforts. During the visit, he observed a simulation exercise and reviewed key response measures, including surveillance and testing systems, as well as isolation and treatment centres.
The investment comes as the company prepares to introduce 18 new electric passenger buses, which are expected to arrive in Kigali by June 15, 2026.
The buses will operate on routes serving different provinces, supporting Rwanda’s efforts to promote clean transportation while helping operators cope with rising fuel costs.
One of the buses’ key advantages is their long driving range. According to the company, a fully charged bus can travel up to 400 kilometres, allowing it to make a round trip from Kigali to Eastern Province without requiring a recharge.
BasiGo Rwanda Managing Director Jones Kizihira told IGIHE that the company has already invested more than $10 million in Rwanda since it began operations and now intends to invest a similar amount within the next year.
“At a time when fuel prices continue to rise, electric buses can help public transport operators meet their targets and maintain their investments,” he said. “Most operators still rely on diesel-powered fleets. Adding electric buses helps reduce their daily operating costs.”
Kizihira said BasiGo remains committed to introducing only electric buses to the Rwandan market, in line with the country’s efforts to accelerate the adoption of electric mobility in public transport.
“That is the direction we will continue to follow as BasiGo,” he said. “We will keep bringing electric buses, expanding charging infrastructure and building local expertise not only in operating the vehicles but also in maintaining and repairing them so they can remain on the road for a long time.”
The company aims to have at least 100 electric buses operating in Rwanda by the end of 2026.
The expansion will also include training technicians, charging station operators and other personnel needed to support the growing electric mobility ecosystem.
Kizihira noted that the company’s experience in Rwanda has demonstrated the economic benefits of electric vehicles, especially as global events continue to affect fuel prices.
On June 5, 2026, the Rwanda Utilities Regulatory Authority (RURA) announced new fuel prices, maintaining petrol at Rwf 2,938 per litre while increasing diesel prices from Rwf 2,205 to Rwf 2,927 per litre.
Kizihira encouraged investors and transport operators to consider electric vehicles, saying many early adopters have already experienced their benefits.
“Electric vehicles are still relatively new technology, so it is normal for people to have concerns at first,” he said. “But what we have seen in Rwanda is that more people are becoming confident in using them. The more electric vehicles we have on the road, the more expertise we develop in maintaining and servicing them.”
To support the growing fleet, BasiGo plans to expand its charging network beyond its existing facilities in Kigali and Muhanga.
Although a fully charged bus can travel from Kigali to Rubavu and back without running out of power, the company intends to establish additional charging stations in Rubavu and Huye before expanding to other parts of the country.
The investment is expected to strengthen Rwanda’s transition to cleaner transport while reducing dependence on fossil fuels and lowering operating costs for public transport operators.
BasiGo’s new electric buses can travel up to 400 kilometres on a single charge, enabling long-distance operations across Rwanda.BasiGo Rwanda plans to invest $10 million in expanding its electric bus fleet and charging infrastructure across the country.
The budget, presented to Parliament on Thursday by Minister of Finance and Economic Planning Yusuf Murangwa, represents a 12% increase from the revised Rwf 7.0 trillion budget for the 2025/26 fiscal year.
Murangwa said the spending plan is designed to respond to global economic pressures while maintaining focus on priority sectors that drive long-term resilience.
“This budget reflects the realities of a challenging global environment while staying focused on what matters most: boosting agriculture, creating jobs, and building a resilient economy,” he said.
“We have prioritised agriculture inputs and irrigation, continued investment in infrastructure and energy, and made room to protect the most vulnerable.”
He added that the goal is to accelerate implementation of national development programmes without undermining macroeconomic stability.
Economic transformation takes lion’s share
According to the budget breakdown aligned with the National Strategy for Transformation (NST2), the economic transformation pillar receives the largest allocation at 63%, equivalent to Rwf 4.9 trillion.
The funding will support agricultural productivity, expansion of electricity, water and sanitation services, transport infrastructure, and urban and rural settlement development. It will also finance initiatives aimed at climate resilience, local manufacturing, export growth, financial sector development, and job creation.
This scale of investment is underpinned by a period of strong economic performance. According to official data from the National Institute of Statistics of Rwanda and the World Bank, the country’s real GDP grew by 9.4% last year, surpassing the government’s initial 7.0% target.
The expansion was driven by an 11% increase in the industrial sector, supported by construction and a 33% rise in mining activities, alongside 9% growth in the services sector.
Social and governance spending
The social transformation pillar is allocated 22% of the budget, or Rwf 1.7 trillion, to strengthen healthcare and education systems, expand social protection, improve nutrition services, and support gender and family programmes.
Transformational governance accounts for 15%, or Rwf 1.2 trillion, and will focus on service delivery, public finance management, justice sector reforms, peace and security, crime prevention, and economic diplomacy.
Financing structure
Total resources for the budget comprise Rwf 5.3 trillion in domestic revenues, Rwf 548.3 billion in external grants, and Rwf 2 trillion in external loans.
On the expenditure side, Rwf 3 trillion is allocated to development spending, while Rwf 4.8 trillion will go to recurrent expenditure.
The presentation comes as East African Community member states table their 2026/27 fiscal year budgets under the theme: “Deepening Regional Integration and Economic Resilience through Improved Regional Security, Domestic Revenue Mobilisation and Digital Transformation for Inclusive Growth.”
The budget, presented to Parliament on Thursday by Minister of Finance and Economic Planning Yusuf Murangwa, represents a 12% increase from the revised Rwf 7.0 trillion budget for the 2025/26 fiscal year.Murangwa said the spending plan is designed to respond to global economic pressures while maintaining focus on priority sectors that drive long-term resilience.Parliamentarians follow the Finance Minister’s budget presentation on Thursday afternoon.
In a statement, Parliament said Icyitegetse formally notified the Speaker of the Chamber of Deputies of his decision through a resignation letter.
Before his resignation, Icyitegetse served on the parliamentary Committee on National Budget and Patrimony, which oversees the preparation and execution of the national budget and the management of state assets.
He was elected to Parliament in 2024 on the ruling RPF-Inkotanyi ticket as a youth representative.
Efforts to reach Icyitegetse for comment on his resignation were unsuccessful, as his phone was unavailable at the time of publication.
Venuste Icyitegetse was elected to Parliament in 2024 on the ruling RPF-Inkotanyi ticket as a youth representative.
The ministry made the remarks in a statement, strongly condemning Thursday’s U.S. strikes on several areas in Iran and stressing that the U.S. government bears responsibility for the “very dangerous” consequences of the renewed attacks.
The U.S. “crimes and widespread attacks” on Iran were in “flagrant violation” of the UN Charter and the fundamental international law principles, it said, calling for respect for national sovereignty and territorial integrity.
It warned that the U.S. army’s use of the territories and facilities of certain countries in West Asia to prepare for and carry out “aggressive attacks” against Iran has placed those states “on the aggressors’ side.”
The ministry reaffirmed Iran’s determination to take action against the origin and source of the “aggressive attacks” in exercising its inherent right to legitimate self-defense, while reminding regional countries of their legal and moral responsibility to prevent the U.S. army’s use of their territories, facilities and resources for committing the “crime of aggression.”
It also called on UN member states to oppose violations of the UN Charter by the United States and Israel.
The U.S. Central Command said early Thursday its forces had made strikes on multiple Iranian targets in retaliation for Iran’s “unwarranted and continued aggression.”
Following the U.S. attacks, Iran announced the closure of the Strait of Hormuz to all vessels, citing security concerns.
Iran’s Islamic Revolution Guard Corps and the Iranian army said they had launched retaliatory strikes against U.S. bases in Jordan, Kuwait and Bahrain.
Iran, the United States and Israel reached a ceasefire on April 8 after 40 days of fighting. In recent weeks, Tehran and Washington have reportedly exchanged proposals through Pakistan’s mediation and have been working on a memorandum of understanding to end the conflict.
The Iranian foreign ministry said Thursday that fresh U.S. strikes on Iran have effectively rendered an April ceasefire between the two countries “meaningless.”
