Tag: a_doingbusiness

{{Graduates from the Akilah Institute are expected to be employed at the Marriott hotel in Kigali which is due to open in 2013.}}

The Hotel is apparently the first largest Marriott hotel in sub-Saharan
Africa.

Some young Rwandan women were chosen to undergo a training
session in Marriott’s hotels in Dubai and Doha.

Marriott expects to hire 10,000 employees, majority of which will be local residents, in its upcoming hotels on the continent.

{{KCB bank Group is looking for a dynamic, energetic and experienced strategist to head the bank following the resigniation of its Group chief executive Martin Oduor-Otieno.}}

The regional bank has contracted consultancy firm Manpower to help identify the new CEO, which will further deepen the change in the composition of the KCB’s board and executive suite that began last year.

Oduor-Otieno, 56, is due to retire in April 2013 after the expiry of his second two-year term, which was granted in May 2010 nearly a year before the end of his first four-year tenure in April last year.

The changes emerge at a time when the bank is in the middle of a major restructuring plan that saw it cut its executive suite by nearly half, leading to the exit of deputy CEOs Sam and Peter Munyiri.

{{The Ministry of Trade and Industry has embarked on a national campaign awareness on use of standard weights and measures, price display and issuing invoices as way of enforcing consumer protection law and regulations.}}

According to Bayingana Emmanuel, Expert in the Competition and Consumer Protection Unit, this campaign has been organized in partnership with the Rwanda Bureau of Standards and Consumers Association (ADECOR).

He noted that the team will be inspecting most business entities throughout the country in implementation of law organizing Internal Trade as well as international regulations on weights and measures

{{In a Twitter interview this morning, The Rwanda Minister of finance has told IGIHE that by the end of September, the fund is expected to be at FRW20 Billion.}}

Currently the contribution in Agaciro fund stands at about 17.7 billion adding.

Rwangombwa John said in a twitter message, “Currently we have pledges of 17.7bn frw. We expect to be at 20bn by end of september”

The fund aims at galvanizing Rwandans to take a more active role in National development and this should be thought in the sense of long term solution.

During the official launch of Agaciro Development Fund on 23rd August, 2012, President Paul Kagame noted that Rwandans should draw strength to consolidate their progress by taking polite way to fortify them.

At the occasion, Finance Minister John Rwangombwa said the Agaciro will live on until Rwandans have achieved the development they want and have financial autonomy.

In a period of one month, the fund which started with a one billion now is expected to reach 20 billion Rwandan francs by end of September.

{{A new Kenyan Tax on goods has stimulated a diplomatic and trade standoff between Kenya and its landlocked neighbours especially Uganda a major trading partner with the coastal nation.}}

The new tax is seen as a threat to the EAC bloc customs union where Kenya is accused of behaving “big brother wanting to have it all.”

Kenya Revenue Authority (KRA) recently directed that transit goods execute a cash bond equivalent to the tax value of the consignments imposed on them if they were to be sold in Kenya.

The decision has made importers and local authorities furious describing it as a move to hurt inland states’ businesses.

Uganda argues that the genesis of the problem is the increased amount of Ugandan sugar on the Kenya market. Kenya suspects Uganda does not have the capacity to suddenly produce extra sugar.

“They think we have no capacity so we have invited them to the sugar factories,” says Uganda Revenue Authority.

Uganda cargo accounts for about 75% of the total exiting Mombasa.
Importers are supposed to go to the insurance company not the clearing agent.

The whole process means when an imported car exits Busia or Malaba, the importer does not get their transit cash bond back immediately, meaning business capital is tied up.

The importer must go to a bank if they do not have cash, yet the bank will also issue the facility at a cost.

If the importer chose to re-export or redirect the car to say Dar es Salaam, it means additional freight and pay costs of changing documents to KRA.

“It is like somebody telling you; ‘don’t come to my place’, besides very few cars have bonds beyond Ksh1m”.

{{The Rwanda Stock Exchange market went up as today’s trading session recorded a turnover of Rwf 15,381,100 from 60,000 BK shares and 19,400 Bralirwa shares traded in 8 deals compared to yesterday’s trading session which recorded a turnover of Rwf 91,700 from 700 BK shares traded in one deal.}}

BK shares traded at Rwf 130 and Rwf 131 and closed at Rwf 131, unchanged from yesterday’s closing price whereas Bralirwa counter traded between Rwf 390 and Rwf 392 and closed at Rwf 392; registering an increase of Rwf 2 compared to yesterday’s closing price.

KCB and NMG shares last transacted at Rwf 140 and Rwf 1,200 respectively.

At the end of formal trading hours, there was an outstanding bid of 1,500,000 BK shares at Rwf 130 and an outstanding offer of 500 shares at Rwf 132. On BRALIRWA counter, there were outstanding bids of 94,200 shares between Rwf 376 and Rwf 391 and no outstanding offers.

This week the RSE market went down in traded volumes and turnover compared to last week’s trading session. The total turnover for this week was Rwf 66, 786,200 from 436,100 BK shares and 25,900 Bralirwa shares traded in 22 deals compared to last week’s trading session which recorded a turnover of Rwf 114, 740,300 from 290,300 BK shares and 204,300 BRALIRWA shares traded in 20 deals.

The RSE market went up as today’s trading session recorded a turnover of Rwf 15,381,100 from 60,000 BK shares and 19,400 Bralirwa shares traded in 8 deals compared to yesterday’s trading session which recorded a turnover of Rwf 91,700 from 700 BK shares traded in one deal.

BK shares traded at Rwf 130 and Rwf 131 and closed at Rwf 131, unchanged from yesterday’s closing price whereas Bralirwa counter traded between Rwf 390 and Rwf 392 and closed at Rwf 392; registering an increase of Rwf 2 compared to yesterday’s closing price.

KCB and NMG shares last transacted at Rwf 140 and Rwf 1,200 respectively.

At the end of formal trading hours, there was an outstanding bid of 1,500,000 BK shares at Rwf 130 and an outstanding offer of 500 shares at Rwf 132.

On BRALIRWA counter, there were outstanding bids of 94,200 shares between Rwf 376 and Rwf 391 and no outstanding offers.

This week the RSE market went down in traded volumes and turnover compared to last week’s trading session.

The total turnover for this week was Rwf 66, 786,200 from 436,100 BK shares and 25,900 Bralirwa shares traded in 22 deals compared to last week’s trading session which recorded a turnover of Rwf 114, 740,300 from 290,300 BK shares and 204,300 BRALIRWA shares traded in 20 deals.

{‘‘Today, we are introducing three revolutionary products. (Pause). The first is a wide-screen iPod with touch controls. The second is a revolutionary phone, and the third is an Internet communications device……

‘‘So three things: a wide-screen iPod with touch controls, a revolutionary mobile phone, and a break-through Internet communications device……

(Pause). An iPod… Are you getting it? There are not three separate devices. This is one device and we are calling it the iPhone. Today, Apple reinvents the phone.”}

Those were the opening words as Steve Jobs introduced the first ever iPhone to the World at San Francisco on January 9, 2007………

There are many presentations and speeches Steve Jobs gave over his lifetime but in my opinion, none had such corporate historical significance as this particular one.

For it marked the emergence of the iPhone; a device which in many ways than one entirely changed the paradigm of mobile phone technology and truly catapulted Apple to becoming one the most valuable companies of all time.

This presentation was a masterpiece both as a sales pitch and as a befitting CEO’s address. I even dare submit that should the very same script have been delivered by another Apple employee with lesser presentation capabilities and rank as Mr Jobs, chances are that the iPhone would have been a huge flop in the market.

Mr Jobs best exemplified the CEO who understands his first role in the company — as the communicator-in -chief. As much as you may outsource the company’s PR function, and delegate the communication task to a lowly department within the organisation, ultimately, and you can take this to the bank, it is your word as CEO that may make or break your company.

The buck stops with you. Often, whenever CEOs attend my trainings I am quick to remind them that they are not spectacularly different from the rest of their management team or even employees.

The only edge they have, besides the title, is that they are expected to have superior communication skills.

Actually, when asked to define management in the simplest terms, I refer to it is as ‘‘applied communication’’. The value of management and communication are so closely tied that they are synonymous with each other. Hence the importance attached to the CEO’s speech.

This underpins the importance of having CEOs who understand and practise the art of public speaking and boardroom presentations.

{{Kaizen principle}}

So as CEO, before you offer your next speech, please take this advice into account:

Excellence is not a stagnant level; adopt kaizen principle and improve.

When we come to CEOs, we have a whole spectrum of them; from the amazingly eloquent media darlings to the awful who embarrass the whole organisation whenever they dare speak in public.

The unfortunate thing is that, many CEOs don’t know where they fall. There are many who are brilliant but who never seem to fully trust themselves.

Then there are those who are despicably awful, yet delude themselves that they are speech masters.

It takes a lot of self-awareness and knowledge to tell our strengths and weaknesses. It takes greater self-wisdom and discipline to do something about it.

The truth is that many a CEO are above average speakers which explains why they rose to the positions they hold today.

However, it should occur to them that both Usain Bolt and David Rudisha are amazing athletes. Yet despite their mastery of the track, they still have something in common to maintain their mastery —a coach.

Regardless of how brilliant we are as communicators, it hurts little to go back to class and improve further on your communication techniques.

As Stephen Covey said, to be effective, you have to continuously sharpen your saw.

Secondly, seek services of an expert speech writer or consultant. There are times when as a CEO, you have to give a speech whose significance is too important to be taken lightly.

It could be the launch of a new product as it was the case with Mr Jobs. It could be an address to the AGM of a public listed company. Whenever such events arise, we seek the communication department to draft remarks for us. This is where we err.

It should be noted that most times the communication office has some other core functions of which writing the CEO’s speech does not really rank that highly.

As a result, what these departments do is whip out a few historical speeches, change a few tenses and facts — and hooray, they have a speech for you.

Those who have attended corporate forums are overly tired of these ‘‘renovated speeches.’’ You might realise that even after attending speech classes and ending up a master speaker, speech writing may still not be a piece of cake. It takes a bit of time, talent, and professional input.

{{Cardinal rule}}

The cardinal rule; if the speech is too important get the services of a consultant. Let’s learn from Barack Obama, himself a wonderful speaker, yet he maintains the services of a full time speech writer.

Having a brilliant and preferably consistent speech writer or consultant on contract is an investment worth taking.

A good speech writer doesn’t create thoughts for you. He models your thoughts and assists you to shape them to fit your audience.

A good speech writer does sufficient research on the subject matter and goes out of his way to ‘‘get’’ your speaking personality. He helps to structure your communication and harmonise your personality.

A good speech writer is not your junior who you command on meeting deadlines, but a professional peer with the sense of what makes a good speech.

It is a good idea to listen to what your speech consultant may have to say about what you want to say, for ultimately it could determine what everyone else will say about you.

In the end, all CEOs should heed the timeless words of former US Secretary of State Madeleine Albright. That a good speech should make us laugh, think, cry, and cheer — preferably in that order.

{Mr Sissey, the CEO of Business Insider Africa, is also the Author of ‘Speech Recipe: A guide to Public Speaking and Boardroom Presentations’’. E-mail: info@marvinsissey.com. Twitter @marvinsissey.}

{{Kigali is hosting talks aimed at establishment of a central bank and other institutions in the East African region.}}

Rwanda’s chief negotiator, Dr Frank Kigabo also Chief Economist at the National Bank of Rwanda, noted that deliberations are focused on remaining articles promising that these would be finalised by the end of the meeting this Saturday.

“We have to establish various institutions like a regional central bank, enforce mechanisms, monetary institutions and a statistics bureau before the single currency comes into force,” he told The New Times.

The meeting will negotiate draft provisions 68 – 81 of the draft EAMU Protocol covering Part M on General Provisions.

The above provisions touch on among others: Harmonization of Policies, Laws and Systems; Law(s) Governing the Monetary Union; Business Continuity Mechanism; Safeguard Measures; Instruments to Support Partner States with Macroeconomic and Structural Imbalances; Admission, Suspension, Expulsion and Withdrawal and Inter linkages with other Areas of Cooperation.

Addressing the delegates this morning, the Deputy Secretary General in charge of Planning and Infrastructure Dr. Enos Bukuku said the meeting marked another bold testimony to the collective resolve to deliver a Protocol on Monetary Union for the people of East Africa and in many respects lower the cost of doing business in the region.

He said the provisions to be negotiated during the Kigali meeting were critical to any monetary union because they underpin any integration initiative in this sector.

He therefore urged all Partner State delegates to do their utmost to build consensus quickly. “We can ill afford brackets at this advanced stage of our negotiations” cautioned Dr. Bukuku.

“Our people, energized by the benefits out of the Customs Union and the Common Market, the challenges associated with the same notwithstanding, are more than ready to embark on reducing the cost of doing business by attaining a Monetary Union” said the Deputy Secretary General.

He reminded the Negotiators that many East Africans within and beyond the region were anxiously awaiting any insights from the meeting on what needs to be done right to make monetary integration work for the EAC.

The High Level Task Force meeting is preceding the 2nd Meeting of the Sectoral Council on Monetary Union to take place 14-15 September 2012 at the same venue. The HLTF will be briefing the Sectoral Council on the progress so far made in the negotiations.