Working with a trusted business partner, making well-informed decisions and striking the balance to treat stakeholders and clients fairly are among key considerations driving efficiency, taking the business to greater heights and create path for the business to thrive and generate more profits.
In addition to existing conducive business environment and security, investors need not to worry as they have got another reason to stick to Rwanda’s openness for businesses.
With an average annual growth rate of 8.6% over the past 10 years, Rwanda is one of Africa’s fastest growing economies which is now poised to become one of the continent’s leading financial centres. It is ranked second in sub-Saharan Africa in the World Global Rule of Law Index and second for ease of doing business. Rwanda is also recognized as the least corrupt, safest and first in terms of network readiness on the continent.
Among others, Rwanda has established a strong Double Taxation Avoidance Agreement (DTAA) network with many countries and the country is extending its network in Africa and with leading developing economies. The country has also entered into Investment Protection Agreements with several countries such as USA, Germany, Belgium and South Korea.
With long-standing experience, JurisTax Group has again proved its prowess as a reliable partner to lean on as it continuously strives to take the lead in the provision of tax advisory and related services with the expansion of footprints to Rwanda and local offices that will set a benchmark for regional presence.
The recent coming to Rwanda also adds up to the country’s ambitions to become an investment hub where almost all services for investors are pooled together.
Established in 2018, JurisTax Rwanda Ltd is part of JurisTax Group which is based in Mauritius since inception in 2008. The group has presence in Dubai, Seychelles, China, South Africa and Rwanda.
The company’s presence in Rwanda makes it the first local Trust Company Service Provider regulated by the National Bank of Rwanda (BNR). It is also member of Kigali International Financial Center (KIFC) making it easier to provide a full range of support services to clients, including corporate set up, administrative, accounting and secretarial matters.
According to Mrs Murorunkwere N. Lydie, the group has expanded footprints to Rwanda and joined the KIFC to be able to support different financial services companies aspiring to bring their investments to Rwanda.
Apart from that, the local subsidiary also looks forward to building capacity in the Rwandese market, in collaboration with a training institute based in Kigali (Africa Institute of Training & Development Ltd – AITD) to deliver high-quality trainings to equip the Rwandese professionals with the most up-to-date skills and knowledge needed to efficiently handle the contemplated influx of business in the Rwandese market.
With 2000 clients globally, JurisTax Group manages today a portfolio of US$5billion with major customers coming from the United States of America (USA), Asia, Europe and the African continent.
The group’s subsidiary in Rwanda works with private institutions in different sectors.
As Mrs Murorunkwere explained, the portfolio is growing gradually as Rwanda, through the KFIC, continues to offer different tax incentives to attract investors from around the world.
“JurisTax Group wants to use Rwanda as a channel to lure different investors on the continent after Mauritius. We want to make Rwanda as a gateway for foreign investors from Europe and Asia among others to enter the African market,” she said.
After completing the first point of entrance for investors which begins with registration at Rwanda Development Board (RDB), JurisTax Rwanda Ltd provides support beyond registration be it licensing from different authorities like the Capital market Authority, the National Central Bank, and Ministry of Trade among others.
“We try to work with those investors to understand the nature of business environment because it can take some time when you are not familiar,” said Mrs Murorunkwere.
“JurisTax Rwanda Ltd is not only trying work with the entire ecosystem in terms of regulatory bodies, but also making sure that the company to set up on the local market is going to be compliant with taxation, different laws with due diligence. We need to be cautious, work diligently to ensure new investors come with good reasons and help them develop proactive approaches to de-risk businesses in many ways,” she added.
As Murorunkwere revealed, JurisTax Rwanda Ltd seeks to be the leading trusted corporate service provider on the Region.
The company also mulls penetrating into other neighbouring East African countries.
“We have started creating synergies with other companies in the region so that we can help investors interested to expand businesses in the area. We will grow our African presence step by step but the main transactions are currently based in Rwanda,” she said.
JurisTax Rwanda Ltd is not only helping companies but also individuals with diversified investments through guidance to tap into available opportunities on the local market and helping them to maximize benefits from offered incentives.
The President made the call on 16th October 2021 addressing members of Unity Club Intwararumuri the 25th Anniversary Celebration since the club was established.
As he delivered remarks, Kagame reminisced on priorities Rwandans should put forward including unity, security and development that should be pursued together for common interests.
The President said that many people misunderstand the concept of humility thinking it underestimates them yet it induces dignity.
“Being humble doesn’t deprive you of anything but gives you more strength. Humility brings strength, it does not underestimate you. However, its deficiency means that the one without these values is egocentric. He/she never considers others’ interests,” he said.
The President emphasized that gains acquired from egocentrism are not durable because they incur lots of anomalies.
“If people in your surroundings are hungry but realize that you are happy and wasting [food], they judge you. Their judgment is not read to hold you accountable immediately but it finally affects you. I think, leaders should always be mindful of that lesson,” he noted.
Kagame said that Rwanda was renowned for two facets including a negative image (the 1994 Genocide against Tutsi) but highlighted that the country has left the dark past behind where it is has earned credibility for achieved remarkable progress.
The President however stressed the need to keep up the momentum to achieve more and urged Rwandans to be characterized by patriotism, and prevent small anomalies that might hold back attained progress.
Unity Club (Intwararumuri or Torch Bearers) was founded in 1996 by First Lady Jeannette Kagame, as a way to bring together members of cabinet and their spouses to promote cohesion among themselves and work together to enhance unity and peace while contributing to the socio-economic development of the country.
Former cabinet members and their spouses are also members of the club.
During the ceremony, seven protectors of friendship pact (Abarinzi b’Igihango) were recognized for bravery that characterized them during the 1994 Genocide against Tutsi.
Speaking at the event, Brig Gen Didas Ndahiro, the guest of honour and the Commandant of the RDF Command and Staff College (RDFCSC) congratulated the graduates for their remarkable efforts in terms of discipline and hardwork. He also reminded them that the course is a very important career course of a senior officer.
The Commandant told the graduates that the knowledge gained will enable them to become better commanders and staff officers at tactical level and operational level. He noted that as they leave the College there is no doubt that the course improves efficiency in command and staff responsibilities.
Major Janet Musabyimfura the only female graduate said that she benefited a lot from the course in terms of command and staff responsibilities at different levels.
During the four-months course, the students undertook intensive training programme comprising many modules; including operational service writing, communication skills, force organisation, military leadership, command and management, military training, military intelligence tactics, logistics, land operations, air operations and peace support operations. They also undertook a number of study visits and conducted many indoor and outdoor exercises.
The pass-out ceremony was graced by RDF and Police Senior officers and attended by spouses, parents, friends, relatives of the graduates, religious leaders and local authorities in the Northern Province.
The flight to Goma is an addition to other DRC destinations including Kinshasa and Lubumbashi.
It is expected that RwandAir will be conducting bi-weekly flights to Goma on Monday and Wednesday.
The maiden flight to Goma on Friday saw the airline carrying 33 passengers traveling to Goma for different purposes.
Passengers expressed delight for the launch of flights to Goma noting that they will no longer use land transport in urgent situations.
Patrick Nzoloka who was among passengers flying with RwandAir to Goma said that he was would travel through Ethiopia to reach Goma in some instances. He explained that the new destination comes in handy to facilitate movements.
“I usually travel from Goma to Dubai through Addis Ababa. It is my first time flying with RwandAir from Kigali to Goma. This development will help Congolese nationals flying to different destinations particularly Nigeria, Benin and Kenya among others,” said Nzoloka.
In March 2019, Rwanda and DRC signed agreements to open airspace which saw RwandAir commencing flights to Kinshasa and vice versa.
Later in April 2019, RwandAir started operating three flights per week from Kigali International Airport to N’Djili International Airport in Kinshasa.
Recently in June 2021, both countries also signed three cooperation agreements on the promotion and protection of investments, avoidance of double taxation and tax evasion between the two countries as well as a memorandum on gold mining.
The launch of new flight to DRC is expected to further ease movements and give a significant boost to trade between both countries.
Operating from Kigali, RwandAir is one of the world’s fastest growing airlines and operates one of the youngest state-of-the-art fleets on the African continent.
With a reputation for delivering a premium service to all its customers, RwandAir operates 12 aircraft with an average age of just under six years. The airline currently offers services to 25 destinations across 21 countries throughout Africa, Europe, the Middle East and Asia.
Dr. Habumuremyi was released one day after he was granted pardon by President Paul Kagame pursuant to the powers conferred upon him by the Constitution.
The pardon granted to the former Premier was announced through a cabinet communiqué released on Wednesday 13th October 2021.
Dr. Habumuremyi was handed three-year sentence after he was found guilty of issuing unguaranteed cheques.
During his trial, he asked forgiveness from President of the Republic and later sent him an apology letter.
Speaking to IGIHE, Dr. Habumuremyi voiced appreciation to Kagame for granting him mercy.
“I thank him for pardoning me because I was not expecting it. I just knew that I apologized from the bottom of my heart. Lucky enough, he has forgiven me as the President of the Republic. I warmly welcomed the mercy with great happiness,” he said.
Dr. Habumuremyi said that the apology letter also carried a message asking for forgiveness from all Rwandans.
“The prerogative of mercy granted to me is of great significance. It will always be engraved on my memory,” he revealed.
The former Premier said that he learnt a lot from prison that he won’t commit similar faults that opened prison’s doors for him. He also pledged to work with other Rwandans to build the nation.
The former Prime Minister was arrested in July 2020 following the closure of the Christian University of Rwanda (CHUR) to which he was owner and legal representative.
The university management was also accused of not paying lecturers and other employees, which had prompted an audit from the Higher Education Council.
Before closure by the Ministry of Education, his university had campuses in Kigali and another one in Karongi District.
Alleged crimes were in connection to anomalies in the management of the university where he was said to have accumulated millions of francs in debts to different suppliers to his university. The university management was also accused of not paying lecturers and other employees.
Dr. Habumuremyi owned 60 percent of the university’s shares, while his son owned 30 percent and the Vice-Chancellor 10 percent.
He was charged alongside Charles Serushyana, a former accountant of the university, but he was later acquitted.
The clemency nullifies the three-year jail term and Rwf892 fine that Dr. Habumuremyi was handed by Nyarugenge Intermediate Court on 27th November 2020.
He will however have to clear all debts he owed to plaintiffs.
Dr. Habumuremyi has told IGIHE that he will abide by laws and respect court’s resolutions.
Dr. Habumuremyi’s lawyer has said that his client has approximately Rwf30 million in debts because some plaintiffs have already received payments.
Habumuremyi served as Prime Minister of Rwanda from 7th October 2011 until 24th July 2014. Since 2015, Habumuremyi has served as the chairman of Chancellery for Heroes, National Orders and Decoration of Honour prior to his arrest.
Dr. Habumuremyi was born in Ruhondo, Musanze district on 20th February 1961. He pursued studies in different countries including the Democratic Republic of Congo (DRC), France and Burkina Faso.
Kagame was speaking at the Global Business Forum Africa 2021 held in Dubai on Thursday 14th October 2021.
Despite the fact that COVID-19 brought unprecedented effects on African continent and the rest of the world, the President said that the pandemic is becoming more manageable as vaccine distribution improves globally.
“Travel and commerce are beginning to recover. However, we are not going back to the same economy that we knew in 2019. Some of the changes will be profound and lasting. The crisis in international shipping and transportation is already generating new thinking,” he noted.
As the world continues to recover, Kagame highlighted that manufacturing and supply chains will need to become more resilient, more local, and more technologically advanced and expressed optimism to make it possible through new innovations.
“Fourth Industrial Revolution innovations in artificial intelligence and 3D printing, for example, are making it possible to make products almost anywhere, at a competitive cost. Similarly, life-saving vaccines and other pharmaceuticals will increasingly be produced in a decentralized fashion, including in Rwanda, thanks to advances in engineering, and good partnerships with companies like BioNTech and others,” he said.
“These changes were already underway before the COVID-19 pandemic, but are now likely to accelerate,” added Kagame.
By the time the pandemic emerged, Kagame said that Africa was well-prepared in at least one important respect where the ‘African Continental Free Trade Area, which was decades in the making, had just entered its operational phase in July 2019’ as more efforts are underway.
“Africa is now the largest free trade area in the world, in terms of the number of countries, since the formation of the World Trade Organization. Last week, the 15th ratification of the African Medicines Agency treaty was deposited with the African Union, and the treaty will therefore come into force next month. The establishment of this body will be a game-changer for Africa’s ability to produce high-quality vaccines and medicines for our continent,” he noted.
Despite achieved milestone, the President highlighted that the progress of African economic integration will mean ‘more trade and investment between Africa and the rest of the world, not less’.
He pointed out an example of successful cooperation where the United Arab Emirates, and Dubai in particular, have long played a key role in linking Africa to the wider global economy noting that the inter-connectedness has been mutually beneficial ‘and we wish to continue to deepen those collaborations’.
Considering adverse effects of the pandemic to families, businesses and the anticipated journey to return to normalcy, Kagame also stressed the need to seize generated opportunities to strive for a better future.
“The Covid pandemic has been an extremely difficult period. Families and small businesses have experienced a great deal of loss. And while the worst may be behind us, the road back to normal is still long,” he affirmed.
“That is why we have a responsibility, amidst all this disruption, to maximize the strengths and assets that Africa does have. We must also strive to seize the new opportunities that have been generated to work with partners to build a more prosperous and cooperative future for all of us,” enthused Kagame.
The forum which took place from 13th to 14th October in Dubai, United Arab Emirates; GBF Africa offered businessmen and investors valuable insights and up-to-date information on a plethora of promising investment opportunities.
The forum also facilitates cooperation between business communities in Africa and the UAE to help African companies benefit from Dubai’s experience in building an integrated digital economy rooted in cutting-edge technologies.
Obadiah Biraro had held the position since June 2011. The cabinet meeting held in 2016, extended his office term for more five years prior to his replacement.
The appointment is part of resolutions of the cabinet meeting held on Wednesday 13th October 2021 chaired by President Paul Kagame.
Another appointee is Nadine Umutoni Gatsinzi who has been named the Director General of National Child Development Agency (NCD).
He previously served as Kigali City vice mayor in charge of socio-economic affairs.
Among others, Assistant Commissioner of Police (ACP) Rose Muhisoni has been appointed the Deputy Commissioner General of Rwanda Correctional Service (RCS) replacing Jeanne Chantal Ujeneza who recently moved to Rwanda National Police (RNP) as the Deputy Inspector General of Police (DIGP) in charge of Administration and Finance in April 2021.
ACP Muhisoni previously served as the Deputy Commissioner for Community Policing.
The pardon granted to Dr. Habumuremyi has been announced through a cabinet communiqué released on Wednesday 13th October 2021.
“Pursuant to the powers conferred upon him, His Excellency the President of the Republic granted pardon to Dr. Pierre Damien Habumuremyi,” reads part of the communiqué.
The former Prime Minister was arrested in July 2020 following the closure of the Christian University of Rwanda (CHUR) to which he was owner and legal representative.
The university management was also accused of not paying lecturers and other employees, which had prompted an audit from the Higher Education Council.
Before closure by the Ministry of Education, his university had campuses in Kigali and another one in Karongi District.
Alleged crimes were in connection to anomalies in the management of the university where he was said to have accumulated millions of francs in debts to different suppliers to his university. The university management was also accused of not paying lecturers and other employees.
Dr. Habumuremyi owned 60 percent of the university’s shares, while his son owned 30 percent and the Vice-Chancellor 10 percent.
He was charged alongside Charles Serushyana, a former accountant of the university, but he was later acquitted.
During trial proceedings, the prosecution said that Dr. Habumuremyi had over Rwf1 billion debts.
Dr. Habumuremyi appealed against the sentence recently in Nyarugenge Intermediate Court, which commuted his sentence by 1 year and 3 months.
The clemency nullifies the three-year jail term and Rwf892 fine that Dr. Habumuremyi was handed by Nyarugenge Intermediate Court on 27th November 2020.
He will however have to clear all debts he owed to plaintiffs.
Habumuremyi served as Prime Minister of Rwanda from 7th October 2011 until 24th July 2014. Since 2015, Habumuremyi has served as the chairman of Chancellery for Heroes, National Orders and Decoration of Honour prior to his arrest.
Dr. Habumuremyi was born in Ruhondo, Musanze district on 20th February 1961. He pursued studies in different countries including the Democratic Republic of Congo (DRC), France and Burkina Faso.
Curfew hours previously started from 11p.m through 4.a.m.
The decision is part of resolutions of the cabinet meeting held on Wednesday 13th October 2021.
The cabinet meeting has also resolved that all businesses must close by 11p.m.
As per new measures, public offices will continue with essential staff at no more than 75% capacity while other employees continue working from home on rotational basis.
Private businesses will continue at full capacity and must comply with COVID-19 preventive measures.
Bars shall also continue to resume gradually. Recreation, entertainment facilities are permitted to resume gradually at 50% maximum capacity while customers must be fully vaccinated and should possess negative COVID-19 test taken within 72 hours.
Among others, all services held at places of worship should not exceed 50% maximum occupancy.
Swimming pools, massage parlors and saunas shall reopen gradually. Customers must be fully vaccinated (except persons under 18 years of age) and should possess negative COVID-19 test taken within 72 hours.
These measures will take effect nationwide effective from 14th October through 14th November 2021.
Citizens are reminded of the critical importance of complying with health measures including physical distancing, properly wearing face masks and hand hygiene.