Thanks to its decisions on the procurement of coronavirus vaccines and its swift vaccination campaign, Hungary is now in a position to vaccinate anyone who wants the jab, Szijjártó said in a video before leaving for a trip to Africa.
“We have enough vaccines for first, second, and third doses, and we have a reserve,” the minister said. “Hungary can afford to help the countries that are in a difficult situation. This way we can give the vaccines we haven’t used at home to the African countries.”
According to Hungary today, Szijjártó said he will deliver the 300,000 vaccine doses to Rwanda on Wednesday. He added that on the way there he will stop in Victoria, the capital of Seychelles, for talks on the continued training of their doctors and nurses in Hungary and to sign a tourism agreement.
However, according to Magyar Közlöny, while the government is indeed giving away vaccines to African countries, much more than what Péter Szijjártó had said a few hours earlier.
According to the decisions signed by Prime Minister Viktor Orbán, 24.hu reports, the government will not give away 1.1 million coronavirus vaccines, but more than 1.2 million, because
-* 800,000 doses of AstraZeneca will be given to the Republic of Ghana,
-* 105,600 doses of Sinopharm and 200,000 doses of AstraZeneca for the Republic of Rwanda,
-* 105,600 Sinopharm for the Republic of Gambia.
After Rwanda, Szijjártó will fly to Turkey to take part in a meeting of the foreign ministers of the Turkic Council member countries, followed by a ministerial summit on Friday.
During the summit, Hungary will hand over a donation of 200,000 vaccine doses, Szijjártó said, noting a decision by the Turkic Council countries to jointly support the African countries in their defense against the pandemic.
The Ministry of Health has reported that Rwanda has recorded one more COVID-19 death bringing the death toll to 1335.
The statement released last night also shows that 22 people have caught the virus out of 7854 sample tests.
A total of 2,347,604 people have been fully vaccinated while 4,652,255 received the first dose of COVID-19 vaccine since Rwanda began countrywide inoculation program on 5th March 2021.
In a statement following the meeting held on Monday 8th November 2021, the Ambassador highlighted that discussions with the President focused on the bilateral cooperation between Mauritius and Rwanda as well as multilateral cooperation pertaining to COVID-19.
Prithvirajsing commended existing bilateral ties founded on mutual respect and reiterated commitments to deepen relations.
The ceremony was held few days after presenting letters of credence to represent Rwanda in Lesotho.
Ambassador Kayihura was previously the High Commissioner of Rwanda to Tanzania from 2014 to 2019. He was also the Ambassador from 2008 to 2014 in the Republic of Korea; Liaison Officer at the Office of the President at the Republic of Rwanda from 2001 to 2008; and First Secretary from 1996 to 2001 at the Embassy of the Republic of Rwanda.
Rwanda and Mauritius have been enjoying cordial relations. In 2014, both countries signed agreements to facilitate investment, trade and cooperation.
Both countries are also ranked among top investment destinations on African continent.
Resilience in execution of an offensive and defensive strategy saw regional subsidiaries grow their Group contribution to deposits to 42% up from 40%, revenue to 37% up from 30% and profit before tax to 26% up from 21%. Agility saw the 27% growth in total funding deployed into public and private sectors resulting in 36% growth in lending.
Diversification driven by a regional approach with operations in 6 countries helped in diversifying sovereign risks and a currency mix risk of 56.6% local currency and 43.4% foreign currency risk mitigating exchange and translation risks. An inclusive business model for all market segments and sectors of the economy and segments and class of the population demography helped to mitigate loan book quality and performance leading to an NPL of 8.9% compared to Kenya industry performance of 13.9% NPLs.
The offensive growth strategy has seen a 23% growth in net loans and advances and a 62% growth in investment in Government securities resulting into a 29% growth in interest income. The growth in earning assets have been funded by a 48% growth in long-term funds of Kshs.104.8 billion up from Kshs.70.7 billion and a 27% growth in customer deposits of Kshs.875.7 billion up from Kshs.691 billion driving total assets growth of 27% to Kshs.1.184 trillion up from Kshs.933.9 billion.
Higher quality non funded income grew faster at 29% to Kshs.31.4 billon up from Kshs.24.3 billion than net interest income which recorded a 23% growth to Kshs.48.5 billion up from Kshs.39.3 billion. FX-trading income grew by 40% to Kshs.5.6 billion up from Kshs.4 billion. E-commerce revenue grew to Kshs.953.5 million up from zero. Bond trading income increased to Kshs.2.6 billion up from Kshs.2.2 billion.
The Group is increasingly shifting from its legacy brick and mortar model of fixed cost structure of branches and ATMs to variable cost, self-service model of client’s own electronic devices or third-party infrastructure. Out of the 975.1 million transactions processed for the 9 months of the year, only 30.1 million transactions or 3% of all transactions were handled at the legacy bank by branches and ATMs with the digital bank handling and processing 945 million transactions or 97% of all the transactions with the self-service customers’ own device mobile channel handling and processing 90% of digital transactions.
“Increasing mobile internet and e-commerce are becoming the preferred channels of choice for payment processing and lifestyle fulfillment with 74% of customers opting for cashless transactions, “said Dr. Mwangi the Group CEO while releasing the results.
Merchants digital payments ‘Pay with Equity” (PWE) transactions grew by 408% from 3.1 million transactions to 15.8 million transactions while the value of the transactions grew by 392% from Kshs.17.1 billion to 84.1 billion. Retail personal internet (Eazzy Net) transactions grew by 287% from 400,000 transactions to 1.5 million transactions with value transacted growing by 404% from Kshs.16.6 billion to Kshs.83.5 billion. Corporate internet banking transactions grew by 42% while the value of transaction grew by 77%. Eazzy App transactions grew by 82% while the volume transacted grew 153%. “Covid has acted as a tail wind to the adoption of digital banking making us transform into a Big Tech in the financial services sector” added Dr. Mwangi.
The Group has continued to closely manage the COVID-19 accommodated loans of Khs.171 billion. Loans worth Kshs.122 billion have resumed repayment, Kshs.4 billion has been downgraded to NPL and provided for (Under stage 3) with Kshs.45 billion constituting 7% of the total outstanding gross loan book of Kshs.608 billion remaining under Covid-19 moratorium.
“We are glad we accommodated our customers to adapt to the COVID-19 environment, to adjust, repurpose and retool their businesses to be fit for purpose in the new normal. This not only kept the lights of our economies on, but helped a lot of businesses survive, retain their employees, support their families and reduce transition of a health pandemic into a social an economic meltdown” added Dr. Mwangi.
Close management of the loan book and strong customer relationship management saw improvement of the PAR (Portfolio at Risk) to 8.9% down from 10.8% with NPL (Non-performing loan) provision coverage improving to 91.2% up from 86% and a coverage of 104% with loan credit guarantee facilitation. The improvement in quality of the loan book and its management had a significant impact on the financial performance of the Group driven by reduction of cost of risk from 4.8% to 1.4% to record a 68% reduction of loan loss provisions to Kshs.4.6 billion down from Kshs.14.3 billion helped record a 3% decline in total operating expenses.
The growth of Group total funding grew by 27% driven by growth in customer deposits by 27% up from Kshs.875.7 billion from Kshs.6.91 billion was matched with a slower pace of growth of loan book of 23% up to Kshs.559 billion from Kshs.453.9 billion. Liquidity ratios strengthened to 59.5% up from 55.7% as a result of increased investment in Government securities which grew by 62% to Kshs.361.3 billion up from Kshs.222.8 billion.
“The strong liquidity position puts us in a pole position to take advantage of market opportunities while deployment into higher yielding asset class with a revenue growth opportunity and better yields and margins.
Efficiency gains resulted in improved cos to asset ratios and cost to income ratio despite the lag in deployment of growth funds to high yielding assets. Best improvements were noted in the more mature subsidiaries of Kenya, Uganda and Rwanda.
Efficiency gains enhanced Group return on Equity to 24% up from 16.9% while return on assets improved to 3.2% up from 2.5%.
Equity BCDC in DRC continued to offer confidence of good investment decision. Deposits grew by 51%, assets by 47%, revenue by 94%, profit before tax 150%. Cost to asset ratio improved from 7.7% to 4.5% while return on Equity improved to 11.1% u from 10%. Giving us strong confidence in our DRC story. We continue to confront the challenges of our subsidiaries in Tanzania and South Sudan
“We are releasing these results at a time that we have taken lessons from our business model of economic and social twin engine. We have confirmed that a shared value business model is economically viable and sustainable. Doing well can go hand in hand with doing good. Our corporate social arm, Equity Group Foundation has scaled its operations to reach a spend od US$513 million in social investment programs, reaching 37,000 secondary school Wings to Fly scholarships, 17,000 University scholarship under the Equity Leadership Program, 3,000 TVET scholarships and 700 Global university scholarships, while 46 Equity Afia clinics are now operational with 572,707 patients visits. To support global initiatives to combat climate change, we have planted 7.1 million trees and financed and distributed 303,000 clean energy products,” said Dr. Mwangi.
“To help build back better and support the world’s focus on purpose we have scaled our financial inclusion programs reaching 2.3 million women and youth with an 11-week financial training programs. We have supported 2.24 million small scale farmers to convert into agri-businesses trained 317,000 MSMEs in entrepreneurship and accessed them Ksh.111.5 billion in credit facilities while offering our Group infrastructure to support disbursement of Kshs.92.7 billion in cash transfers to over 3.4 million households,” added Dr. Mwangi.
Inspired by the work of the Equity Group Foundation and the success of the COVID-19 response programmes, where we contributed US$1.7 million to support public and faith based hospital with Personal Protection Equipment’s (PPEs) and accommodating our borrowers with principal plus interest repayment breaks of up to 3 years. We are launching an ambitious US$5 billion business and private sector COVID-19 recovery program.
The audacious post Covid-19 recovery program entails supporting 5 million SMEs with loans up to Kshs.0.5 trillion to accelerate recovery and growth and growth post COVID-19 with a view of creating 25 million direct jobs and another 25 million indirect jobs. The initiative is in partnership with governments of the 6 countries we have operations in and will centre on promotion of cross border trade under the East African community and African Continental Free Trade Area protocols. The program has won the support of United Nations (UN) under the sustainable development goals template, Development Banks, Mastercard Foundation under our Young Africa Works partnership and the Private Sector business actors” added Dr. Mwangi.
At the time, Niyomugabo, who was intercepted in Mwoya Cell, Nyagisozi Sector, was sneaking the cables into Rwanda from the neighbouring Burundi.
The Southern region Police spokesperson, Superintendent of Police (SP) Theobald Kanamugire said that the suspect was arrested due to information provided by local residents.
“RPU had information about people, who smuggle banned and substandard electric cables into Rwanda from Burundi, through porous borders. Niyomugabo was identified as one of of the smugglers,” said SP Kanamugire.
He added: “RPU officers trailed Niyomugabo; he met his suppliers at a place called Iviro, picked the cables and boarded a bus to also supply his customers in Huye, Muhanga and Kigali. The bus was stopped and Niyomugabo was taken into custody and the cables seized.”
Following his arrest, Niyomugabo claimed that he was being hired by traders to pick the banned cables from other suppliers in Burundi.
This time, he argued, he had been hired by a trader in Huye District to collect the cables from Burundian suppliers and deliver them to his shop. Niyomugabo said that he was supposed to be paid Frw20, 000 after delivering the cables.
It is, however, said that Niyomugabo was part of the chain that smugglers the substandard and banned cables to Kigali.
This time, he was to deliver the cables to another person in Huye, who would also find a way to transport them to Muhanga to another person tasked to smuggle them to clients in City of Kigali.
‘Senegal’ are among the substandard electric cables that were banned by Rwanda Standards Board (RSB).
The campaign conducted on Sunday, November 7, targeted cyclists organized in a cooperative called Kotamonyaka operating in Runda, Gacurabwenge and Rugarika.
According to Superintendent of Police (SP) Theobald Kanamugire, the Police spokesperson for the Southern region, the commercial cyclists are among the victims but also cause road accidents.
“Cyclists are among road users, whose reckless and inappropriate behaviours cause fatal accidents. Some of them hitch trailers to pull them uphill and in some cases this has ended fatal. Others ride at night without reflector jackets and no head lights, which is deadly, and these are some behaviours that they were urged to do away with,” SP Kanamugire said.
The cyclists were also cautioned against overloading, reckless riding, and bad maneuvers.
They were also urged to refrain from any acts of criminality such as trafficking drugs or facilitating drug dealers, but rather join efforts to identify and report drug dealers and other illegal acts.
Speaking at the event in Rwandan capital city Kigali, Rwanda’s Foreign Minister Vincent Biruta commended the government of China’s multidimensional contribution to the development of Rwanda in key sectors ranging from investment, infrastructure, Information and Communication Technology (ICT), to mining, health, agriculture, defense and security.
Since Nov. 12, 1971, and more particularly after the 1994 Genocide against the Tutsi in Rwanda, the two countries have worked closely to strategically develop their political and socio-economic ties.
China currently ranks among the top investors in Rwanda which has created thousands of jobs in different sectors.
“Supported by the increasing high level political interaction and exchanges, our bonds of relationship have flourished at all levels,” Biruta said.
He reiterated his country’s appreciation for the solidarity and support of the Chinese following the recent donation to Rwanda 500,000 doses of Sinopharm COVID-19 vaccines.
The minister reaffirmed Rwanda’s readiness to explore new ways to further deepen the two countries’ relations under existing bilateral and multilateral frameworks.
In addition to traditional cooperation areas, the two countries enjoy cooperation in e-commerce, trade in high-quality agricultural produce, as well as combating the COVID-19 pandemic.
Rwanda’s coffee beans are popular on China’s e-commerce platforms, where each kilo of beans sold in China can bring coffee farmers four more dollars.
Rwanda became the first African country to export dried chili to China. Some 50,000 tons of dried chili will be exported to China in the next 5 years.
Chinese Ambassador to Rwanda, Rao Hongwei said over the years the two countries have developed high-level political mutual trust, “making bilateral relations as stable as a great rock in the face of any changes in the international situation.”
“Our economic and trade cooperation has gotten closer. China is proud to be Rwanda’s largest trading partner and largest project contractor,” he said.
The bilateral trade volume between the two countries in 2020 reached 321 million U.S. dollars despite the impact of COVID-19.
Since 1982, China has dispatched 21 medical teams to Rwanda, with a total of 258 doctors providing medical services to more than 700,000 local people, according to data from the embassy.
Over 5,000 students were enrolled by the Confucius Institute at the University of Rwanda while more than 2,000 members registered with the Rwanda Kung-Fu Wushu Federation.
Hundreds of Rwandan students receive Chinese scholarships to study in China every year while more and more Chinese have been learning about Rwanda and visiting for sightseeing and business.
Noting that people-to-people exchanges have expanded, the envoy noted that the two countries support each other in international affairs and speak in one voice on many issues such as development and human rights.
China is grateful for Rwanda’s firm support on issues involving China’s core interests and major concerns, Rao said.
According to the ambassador, the friendship between China and Rwanda is not an accidental choice, but the result of like-mindedness.
“We both maintain that all countries, big or small, strong or weak, are equal. We both cherish national sovereignty and independence, and resolutely oppose any interference in our internal affairs by any country or external forces,” he said.
Upholding the principles of sincerity, practical results, affinity, and good faith, China seeks to strengthen cooperation with Rwanda “for mutual benefit, win-win outcome and common development,” the envoy added.
“China will join hands with Rwanda to build a community with a shared future for the two countries, and for China and Africa at large,” he said.
The exercise took place on Friday 5th November 2021 at Nyundo Health Center and the vaccination site at the Rubavu-Goma border post, commonly known for its French alias as ‘Petite Barrière’.
Artistes who participated in the campaign include Andy Bumuntu, Alyn Sano, Jules Sentore, Patient Bizimana, Mani Martin, Peace Jolis and Miss Rwanda Grace Ingabire.
It was organized by Rwanda Biomedical Center (RBC) in partnership with Mastercard Foundation.
Residents commended the campaign highlighting that it is significant for them to increase efforts meant to contain the spread of the pandemic and help the country return to normal situation.
“It has proven that Rwandan artistes stand with us to fight COVID-19. Besides, I am excited to see my favorite singer, Andy Bumuntu and Peace Jolis,” said Assouma Uwase.
Another resident, Yevani Ntawushiragahinda pledged to beef up efforts to contain the spread of the pandemic.
“I have received COVID-19 vaccine shot but it won’t provide loopholes for complacency. I remain committed to keep wearing a face mask and observe other instituted measures until the pandemic is defeated. People should take part in the vaccination campaign willingly to save their lives and protect other members of the community,” she said.
Miss Ingabire and other artistes who spoke to IGIHE, requested Rwandans continue participating in the vaccination campaign and stand against people spreading rumours on COVID-19 vaccine.
“I am among recipients of two COVID-19 vaccine shots. My message goes to unvaccinated people encouraging them not to be left behind because the vaccine is helping us to return to normal situation gradually. It is evident that we will fully recover from effects of the pandemic once everyone is vaccinated,” noted Alyn Sano.
Over 95,000 have been vaccinated in Rubavu district.
The Director General of Gisenyi Hospital, CSP Oreste Tuganeyezu has said that the vaccination efforts in Rubavu district are on good progress. He explained that the vaccine exercise which began with members of the elderly, people with chronic diseases and other workers whose line of duty put them at risk to catch the virus; has been extended to residents aged below 18.
“Today, we have fully vaccinated 64,681 residents while 96,450 have received the first dose of COVID-19 vaccine during the ongoing exercise. We encourage residents to seize the opportunity and participate in the mass vaccination campaign because we can only defeat the pandemic if we remain shun complacency altogether,” enthused CSP Tuganeyezu.
Andy Bumuntu also thanked organizers of the campaign and urged all Rwandans to get COVID-19 vaccine to help the country defeat the pandemic.
The artistes featured in the song ‘Tuzatsinda’ translated as ‘We shall win’ encouraging Rwandans to fight against COVID-19.
During the exercise held in Rubavu, the artistes also helped residents to fill their vaccination forms.
Today we take a look back on the stock of different initiatives designed to support entrepreneurs and forge the way forward to foster their contribution to the society in different aspects.
The African Management Institute (Rwanda) is one of the actors in the business ecosystem proud of enabling ambitious businesses across Africa to thrive, through practical tools and training.
AMI Rwanda has worked with a range of businesses and organisations to support entrepreneurs and managers build and grow their businesses across Rwanda including Mastercard Foundation, Rwanda Development Board, The Rwandan Chamber of Women Entrepreneurs, RwandAir, Radisson Blu, The Rwandan Chamber of Young Entrepreneurs among others.
Partnering with organisations such as Rwanda Girl Guides allows AMI to work with women-led businesses and support them on their journey to push boundaries, build industries and create jobs.
Through the partnership, 487 female entrepreneurs from across the country have attended and completed AMI’s Business Survival Bootcamp programme. The bootcamp teaches participants how to adapt their business to the current challenges and connects them with a network of peers. Through the Rwanda Girl Guides Association partnership, AMI will train around 1,000 women-owned businesses.
To date, women make up 43% of all participants in AMI’s Business Survival Bootcamp in partnership with the Mastercard Foundation, and the journey continues.
Five of them have shared what inspires them and tipped aspiring entrepreneurs facing constraints occasioned by COVID-19 pandemic on the way to success.
These include Pacifique, Vanessa, Nadine, Valentine and Claudine among others who participated in [African Management Institute (AMI) programmes->https://www.africanmanagers.org/ami-rwanda/] through an innovative partnership with the Rwanda Girl Guides Association.
The beneficiaries have shared their experience and what being entrepreneurs means to them.
{{Pacifique Igiraneza, Shop Owner in Kicukiro, Kigali}}
For Pacifique Igiraneza, being an entrepreneur comes with a great sense of responsibility. She is determined to leave a mark in her community as she works hard to achieve her goals.
“Do not give up. If you haven’t yet started your business, start with what you have, you will keep growing step by step,” says Igiraneza.
{{Vanessa Umutesi, Isaro Ltd, Nyarugenge}}
Vanessa Umutesi says that running owning business gives her a sense of purpose and courage. She dreams big and is happy with what she has achieved so far.
“Don’t just sit back and be too afraid of running a business. What matters is the idea you have in mind. Work hard to achieve your goals and build a better future for yourself,” says Umutesi.
{{Nadine Umwali, Poultry Farmer in Nyamagabe}}
Nadine Umwali is a poultry farmer and proud that her business supports her family, community and her country. She is pleased with the progress her business has made and that young people have started to look up to her.
“It’s good to be self-employed. Starting a business doesn’t require a lot of capital. All you need is a great idea. It is also important to take part in different business training programmes as they are not demanding and you learn a lot. I encourage you to be confident and start your own business,” says Nadine.
{{Valentine Ishimwe, Clothes Wholesaler in Nyarugenge}}
Ishimwe is proud that she can now rely on herself and is able to save money to invest in future projects.
“Don’t be discouraged when your business isn’t going well. It’s part of the hustle. Business is like our daily lives, you may be happy today but sad tomorrow. Therefore, we have to be resilient and work hard,” says Valentine.
Mukandayambaje is a passionate entrepreneur who celebrates her wins as they come and is eager to continue working hard to grow her business.
“Keep on doing good work because it makes a difference in the community. Don’t ever give up even if you face losses, that’s just how business works. The best is yet to come,” says Mukandayambaje.
The African Management Institute uses a unique approach to equip entrepreneurs with tools to build their businesses, help companies train their teams and run work readiness programmes for young people starting their careers. Online resources are combined with hands-on experience to support individuals participating in AMI’s programmes.
When COVID-19 hit in March last year, our programmes at AMI shifted from a blended model to fully virtual, and focused on supporting as many MSMEs as possible, leveraging our existing virtual engagement experience and robust online learning platform and content.
We focused on supporting business owners not just to thrive, but to survive and keep their doors open.
{{Do you want to celebrate Women Entrepreneurs in Rwanda with us? Here are a few actions you can take:}}
● If you are the owner of an MSME in Rwanda – learn more about our Business Survival Bootcamp and Survive To Thrive Programme to take immediate action to protect your business’ resilience through fundamental business skills.
● If you’re a former participant or current AMI participant in one of our programmes, reach out to other entrepreneurs to share this article and motivate them to take the next steps to build resilience and skills for their businesses.
● If you’re an organisation or institution that wants to scale your impact and reach more MSMEs, contact our partnerships team at rwanda@africanmanagers.org
● Follow AMI Rwanda on social media ([Twitter->https://twitter.com/RwandaAMI], [Facebook->https://web.facebook.com/RwandaAMI?_rdc=1&_rdr], [Instagram->https://www.instagram.com/rwandaami/]) or call our helpline on 1000 and learn more about our latest updates.
Considering its attractiveness, investors have started developing infrastructures at the prestigious hill to help people consume its beauty with great comfort.
Denise Irakoze is among entrepreneurs who explored the area and got inspiration to build an apartment stretched on 1670 square meters in Bwerankori cell, Kigarama sector.
The apartment is adjacent to Canal Olympia along nearby tarmac road. It has four units, two of them made of three rooms equipped with bathroom, latrine, sitting room and a modern kitchen.
Each of the two remaining two units has two rooms equipped with bathrooms, latrines, sitting room and modern kitchen.
The apartment also comprises of a shopping unit along the road.
Built of baked bricks, the building has ample parking with the capacity to accommodate 15 cars, a beautiful garden with ornamental trees and flowering plant providing fresh air.
The apartment is valued at Rwf800, 000,000. Interested buyers can contact the house manager on 0788573952 or the owner on 0788533791.
