Over the coming months, the KIFC, in collaboration with the GDFA, will develop new ways to allow banks to assess the greenness of the companies they support. The pilot programme will utilise the data banks already hold on the SMEs they finance, minimising the input required from the SMEs. Following a ‘data mining’ process, the data will be converted in to ‘climate metrics’ to reveal a green rating for the company based on their emissions.
The generation of green metrics will then become automated, providing banks with green SME rating tool which will help to drive future decision making of which companies to invest in, and enabling them to move towards the objective of providing green finance as part of their core product offering.
The development of these new tools also has the potential to bring benefits to the SMEs themselves who will be able to identify quick wins to reduce their emissions (through streamlined transportation, reduced energy consumption etc.). This will enable them to cut their running costs while also contributing to the country’s efforts to meet their Nationally Determined Contribution (NDCs) to reduce emissions.
The KIFC was chosen for the pilot program because of their commitment to driving green investment, and Rwanda’s globally recognised efforts in sustainability and environmental protection. Rwanda recently announced an ambitious plan to raise $11 billion in finance to help cut emissions, and for adaptation and mitigation projects.
“Rwanda is an ideal pilot country because it its commitment to both digitalisation and to using innovative finance to deliver on its national targets under the Paris agreement. Not to mention that Rwanda is a reginal training centre for carbon accounting. Hence, Rwanda is committed to bringing together green and digital both at strategic and practical level. That is why I am particularly pleased to GDFA and KIFC has agreed to form this partnership,” reads the statement released by GDFA following the agreement.
Nick Barigye, the Chief Executive Officer at KIFC expressed delight for the milestone.
“This tool could change the face of green investment in SMEs as banks will be able to see just how green their investments currently are and make decisions about future investments based on accurate data,” he said.
“Here at the KIFC, we are committed to making ourselves a leading centre for green investment. This will benefit our businesses, the Rwandan people, and have a positive impact across the continent and beyond. This project helps us make progress towards this objective. It shows yet again that trusted partners see that Rwanda works for investors, and it will only strengthen our claim that Rwanda is the best place in the world for green investment,” added Barigye.
The discussions were held on Wednesday 10th October 2021 as CHOI paid a courtesy call to Minister Biruta.
Minister CHOI has been in Rwanda for a three-day official visit from 9th to 11th November 2021.
During their discussions, Minister Biruta expressed Rwanda’s readiness to enhance cooperation with Korea in several sectors including public health, education, ICT and science technology.
CHOI also appreciated Rwanda’s efforts to establish a vaccine manufacturing plant in the country, which will expand vaccine supply capacity on the African continent.
He expressed optimism that the two countries will find ways to cooperate in this area as Korea is also working to become a global vaccine manufacturing hub.
During his stay in Rwanda, Minister CHOI also visited Kigali Genocide Memorial and paid tribute to victims of the Genocide against Tutsi.
Since 2011, Rwanda has been a priority partner in development cooperation for the Korean Government where the Korea International Cooperation Agency (KOICA) is implementing a dozen of projects focusing on ICT, education and rural development.
In addition, Korea EXIM Bank is cooperating with Rwanda, through its Economic Development Cooperation Fund to develop the infrastructure of the University of Rwanda and expand Rwanda’s electricity infrastructure.
This high-level visit is expected to serve as a springboard for Korea and Rwanda to further consolidate the bilateral partnership ahead of the 60th anniversary of diplomatic relations to be marked in 2023.
“I would like to extend my appreciation to students of the Islamic Secondary School for Sciences for performing well in your studies. I was informed that most of you present here performed well in national examinations,” said Amb. Alqahtani.
“I want to reiterate that the UAE is fully committed to ensure that not only its citizens should have access to the best educational opportunities, and my country in cooperation with Rwanda, is willing to give the most talented students access to higher education in internationally recognized universities in the UAE,” he added.
The ambassador delivered the message on Wednesday 10th November 2021 after holding an interactive session with students and teachers during his visit to the school located in Nyamirambo.
Amb. Alqahtani ‘s interactive discussion with students was also attended by Dr. Nelson Mbarushimana, the Director General of the Rwanda Basic Education Board and Mr. Abdellatif Aouid, the Director General of the Islamic Cultural Center.
The Ambassador also took the opportunity to share the key initiatives put in place by the UAE in advancing education not only to UAE citizens but also to Rwandans.
Since 2002, the UAE through the Al Maktoum Foundation has supported Rwanda’s education by funding two secondary schools, the Hamdan Bin Rashid Al Maktoum Girls Secondary School for Sciences in Muhanga and the Hamdan Bin Rashid Kimisange Secondary School. Students from these schools have been performing well in national examinations.
For the last at least 10 years, the UAE through the Khalifa Bin Zayed Al Nahyan Foundation has also been 100% supporting the Islamic Secondary School for Sciences whose students have been also performing well in national examinations.
Within the framework of joint action in order to support the education sector in Rwanda, the UAE Government provided scholarships to outstanding students in different UAE universities, through the UAE Technical Assistance Program.
“The scholarship programs will enable the students to build a better future, and contribute to achieving development for their country and the local community,” said Amb. Alqahtani.
Since 2018, 20 male and female students from Rwanda received UAE Government scholarships at the UAE University in the disciplines of Architecture, Mechanical Engineering, Electrical Engineering, Biology, Biochemistry, and Computer Science.
Among others, 10 Rwandan students were given full scholarships to pursue bachelor’s degree programs at Sorbonne Abu Dhabi University in 2019.
In consideration of the fact that education plays a critical role in knowledge-driven economy, he commended the school for excellent performance in national examinations and reiterated his country’s commitment to provide scholarships to best performers.
The study published by the British Council in 2017, named UAE as one of the best countries when it comes to its support of international higher education.
It was established after the release of second volume of the Shape of global higher education report which analysed international higher education policies across 38 countries.
The country came second in the quality assurance and degree recognition category and fifth for openness and mobility.
The UAE has established an excellent and diversified system of higher education in a very short period.
The UAE University, founded in 1976, led higher education in the country. Since then, the UAE currently has 76 public and private institutions of higher education and they include universities, colleges and vocational & technical institutes, both local and international campuses, such as the Sorbonne Abu Dhabi University, New York University and American University of Sharjah.
The UAE Government has been providing scholarships to Rwandan students who excelled in their secondary education at some of these public and private universities such as the UAE University and Sorbonne Abu Dhabi University.
She delivered the message on Wednesday 10th November 2021 at the 5th East African Youth Leadership Summit (YouLead Africa Summit) 2021 held in Arusha, Tanzania.
The summit brings together over 10,000 young professionals in the areas of leadership, investment, peace building and gender equity and women empowerment in Africa as well as policy makers.
Themed the ‘Future of Africa: Creating Jobs, Feeding, and Housing the World’s Youngest Continent’; the summit running from 8th to 12th November, 2021 is aimed at discussing issues pertinent to the regional development agenda including unemployment and access to economic resources.
Sessions held on Wednesday focused on the role of the youth to promote gender equity and women empowerment.
As she delivered remarks, Mrs Kagame reminisced the words of Tajudeen Abdul-Raheem highlighting that ‘the world cannot a better place if women’s conditions are not better in it’.
Even though his words were highlighted in 2006, Mrs Kagame said that they still resonate now ‘despite our country’s advances of the past 15 years in granting women equal status, equal opportunities and equal protection under the law’.
She revealed that the biological differences between the sexes are frequently mischaracterized as a justification for gender inequality. Mrs Kagame however insisted that it should not be case but rather ‘an indicator of how complementary our respective offerings can be’.
“To be in the post 1994 Rwanda, the contributions of all available human capital had to be put to use. The nurturing nature of women, the sensitivity that nourishes the unconditional love for their children, needed to be capitalized upon to engage an entire nation in the testing task of communal healing,” she explained.
Mrs Kagame also emphasized that Africa needs life and love as a continent that has been scarred by centuries of oppression.
“Gender equality is not about uplifting one gender. It is about uplifting the community by empowering every individual that can contribute to our society’s progress, wellbeing and stability,” she noted.
Sustainable Development Goal 5 (SDG 5 or Global Goal 5) concerns gender equality and is fifth of the 17 Sustainable Development Goals established by the United Nations in 2015.
The principle of gender equality is also enshrined in Africa’s Agenda 2063 where it calls in its aspiration 6, for “An Africa, whose development is people-driven, relying on the potential of African people, especially its women and youth, and caring for children.”
The African Union (AU) also recognises that gender equality is a fundamental human right and an integral part of regional integration, economic growth and social development and has developed the AU’s strategy for Gender Equality and Women’s Empowerment (GEWE) to ensure the inclusion of women in Africa’s development agenda.
Mrs Kagame said that gender equality is the common appreciation of the unseen yet essential efforts of invisible woman to craft the first notion of home ‘most of us have ever known’.
She therefore stressed that achieving gender equality is ‘our means of giving back to those countless women who have dedicated their lives to ensuring we could all sit here positioned to be an impact on the future of our communities’.
Mrs Kagame highlighted that girl’s education in developed nations is of critical significance.
“On our continent, too many young girls have been withdrawn from schools and forced into premature adulthood through child marriage, full time employment and responsibility of financial support to their families. While these practices are becoming less and less common, we cannot hope for our morality to match our development in 2063 if they still occur at all,” she noted.
To promote young girls education, Mrs Kagame through Imbuto Foundation supports students from vulnerable backgrounds under the ‘Edified Generation Programme.’
Imbuto Foundation also awards girls with outstanding performance through ‘Best Performing Girls’ initiative.
First Lady Jeannette Kagame has said that a young girl who has shown the merit and the value of her efforts will be more willing to take on academic challenges.
She revealed that rewarding best performing girls is of critical importance and stressed the need to create an ecosystem where girls can exhibit their skills.
“I invite some of the professional, leaders and entrepreneurs here today, to join us in providing our young people including our young girls with guidance on attending career fulfillment and success. Your expertise might be invaluable but I believe it could lead to quantifiably promising results,” she noted.
Mrs Kagame emphasized that the ultimate goal is to see countries helping and granting girls and women, opportunities they deserve.
“For all the love that girls and women receive, they reinvest ten folds. Give a woman safety and she will give you serenity. Allow, a woman knowledge, and she will raise your children to be wise. Give a woman seed, and you will be brought the fruit garden flourishing,” she stated.
The Youth Advocacy Advisor at She Leads Plan International, Elsie Masava explained that the meeting plays a significant role to determine the youth’s role on the continent.
Tanzania’s Prime Minister, Kassim Majaliwa also emphasized that the youth deserve opportunities leading to sustainable development.
He stressed that Africa should particularly empower women and the youth in financial management which paves the way for sustainable Africa’s development.
The youth accounts for 60 percent of the population in East African Community.
Kagame who is the current Chairperson of Smart Africa board welcomed new members on Wednesday 10th November 2021 at the 10th meeting.
“I welcome you to our 10th board meeting. Please join me in welcoming two new board members: Google and WestLink. We are very happy to have you with us,” he said.
Smart Africa is a bold and innovative commitment from African Heads of State and Government to accelerate sustainable socio-economic development on the continent, ushering Africa into a knowledge economy through affordable access to Broadband and usage of Information and Communications Technologies.
The 10th Smart Africa board meeting brought together participants from over 30 countries from the African continent and partners working together to accelerate Africa’s socio-economic development through digital transformation.
Google is an American multinational technology company that specializes in Internet-related services and products, which include online advertising technologies, a search engine, cloud computing, software, and hardware among others.
WestLink is a subsidiary of Africa Development Solutions Group, a company which operates as an integrated platform specializing project management, as well as in the provision of services and equipment, servicing African states, African and foreign multinationals and people of the continent.
Smart Africa is an alliance of 32 African countries, international organizations and global private sector players tasked with Africa’s digital agenda.
With a vision to create a single digital market in Africa by 2030, the Smart Africa Alliance brings together Heads of State who seek to accelerate the digitalization of the continent and create a common market.
Launched in 2013 by seven (7) African Heads of State, the Alliance now has 32 member countries, representing over 815 million people and over 40 Private Sector members committed to the vision and the advancement of Africa.
Google and WestLink recently joined other international and African technology firms as members of Smart Africa including Hewlett Packard Enterprise (HPE), Microsoft, Facebook, Inmarsat, Liquid Telecom, Orange, Intel, Ericsson, Huawei and Tata Communications & Transformation Services.
Smart Africa also partners with international organisations such as the International telecommunications Union (ITU), the African Development Bank (AfDB), Global System for Mobile Communications (GSMA) and the World Bank among others.
The agreement was signed on Wednesday 10th November 2021 during a ceremony held in Kigali City. Rwanda was represented by the Minister of Foreign Affairs, Dr. Vincent Biruta while Hungary was represented by Péter Szijjártó, the Minister of Foreign Affairs and Trade.
The funds will be utilized to expand and increase the production capacity of Karenge Water Treatment plant located in Rwamagana District.
The plant currently has the capacity to produce 15,000 cubic meters per day of which 12,000 are supplied to residents of different parts of Kigali and 3,000 cubic meters to residents of Rwamagana District.
Minister Szijjártó has explained that some of major activities include increasing the plant’s production capacity to 36,000 cubic meters per day.
In addition to increased production, Hungarian Minister of Foreign Affairs said that the credit line will also be utilized to build six-kilometer water supply network.
He went on to explain that Hungarian companies will contribute to the implementation of the project.
These companies will intervene in budget planning, supervision and digitization among others.
He revealed that the agreement also opens doors for Hungarian technology in the expansion of water supply networks to one of developing African nations noting that Hungary is ready to explore investment opportunities in Africa.
Rwanda has also signed with Hungary more agreements in the areas of air transport, health and education where the country will offer scholarships to Rwandan students.
Minister Biruta has also said that Rwanda and Hungary are committed to further strengthen existing cordial relations.
“Our cooperation is commendable and we are committed to further strengthen relations between governments, trade and both countries’ people. We are set to prioritize those areas with optimism that our relations will be beneficial to Rwanda’s development programs,” he said.
Hungary is a landlocked country in Central Europe. It is ranked as the 9th most complex economy according to the Economic Complexity Index. The country GDP was estimated at US$154, 56 billion in 2020 with service sector contributing 55.8%.
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.
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.
Howard G. Buffett is an American businessman whose foundation has supported the development of a center pivot irrigation project in Nasho sector.
The Nasho Irrigation Scheme project is made of 63 center pivots irrigation system, irrigating 1,173 hectares belonging to 2,099 smallholder farmers.
The inauguration of the project was graced by President Paul Kagame in 2020. It was developed to modernize Rwanda’s agriculture sector and specifically improve smallholder farmers’ livelihoods.
The project, worth US$54 million, helps local farmers improve their livelihoods by enabling them to grow crops all year round, and allowing for a more efficient use of inputs, such as water and fertilizer, and by enhancing the yields and quality of the crops they grow.
Beneficiaries of the irrigation systems were grouped into a cooperative dubbed Nasho Irrigation Cooperative (NAICO); which utilize and maintain the infrastructure.
The scheme also consists of a solar power plant with a capacity of 3.3 megawatts to power the irrigation system, with 2.4 MW battery storage unit installed, to provide electricity to pump water and reduce the burden from farmers.
In addition, 144 houses (36 houses that are four-in-one) were constructed to resettle households from areas under pivot irrigation, and farm buildings.
About 24 km of existing roads within the project area were also widened and resurfaced and about 10 km of new roads created, which made it easy for installation of irrigation systems as well as transportation of inputs and produce.
Speaking at the inauguration of Nasho Irrigation Scheme last year, Kagame thanked Howard G. Buffett for the partnership that has become very productive in Rwanda’s agriculture and conservation to make a big difference for many lives.
The country which once underwent serious economic downfall, is currently seeking to be back on its feet working with Rwanda as a gateway to restore global influence through cooperation with the African continent.
It was revealed on Friday 5th November 2021 by Greek Minister of Foreign Affairs, Nikos Dendias on his visit to Rwanda after holding talks with his counterpart of Rwanda, Dr. Vincent Biruta.
During their discussions, Dendias and Dr. Biruta signed two Memoranda of Understanding (MoUs) in Political Consultations that will allow both countries to discuss prospects for deepening bilateral cooperation in areas of mutual interests including trade and investment, tourism, education and agriculture among others.
Rwanda and Greece also signed a MoU on cooperation in the field of diplomatic training to reinforce the collaboration between respective ministries of foreign affairs.
His visit coincided with the donation of 332,800 AstraZeneca doses of COVID-19 shipped to Rwanda on Friday 5th November 2021, an addition to more 200,000 doses secured from the country early September this year.
Minister Biruta said that the visit of his counterpart resulted from both countries’ commitment to strengthen engagements at bilateral and multilateral levels.
He also told the media that discussions with Dendias focused on exploring available investment opportunities.
“We have discussed and took them through available investment opportunities where they expressed willingness to cooperate with us to promote trade and investment particularly in tourism sector,” he said.
“The visit is a significant milestone in promoting bilateral relations in different areas drawing emphasis on trade and investment,” added Biruta.
Greece is among developed countries with its GDP per capita estimated at US$19,827 (over Rwf19 million).
The country’s economy heavily relies on services which account or 80% of GDP with tourism as the main contributor.
Greece is ranked the 7th country attracting a large number of tourists on the European continent and the 16th tourist destination globally.
{{Rwanda as gateway for deepened ties with Africa}}
Greece has not been actively involved in global investments mainly due to economic crisis the country has undergone since 2008, when details emerged that it had heavy, outstanding debts.
The Greek debt crisis was the dangerous amount of sovereign debt Greece owed the European Union between 2008 and 2018. In 2010, Greece said it might default on its debt, threatening the viability of the eurozone itself.
To avoid default, the EU loaned Greece enough to continue making payments.
Since the debt crisis began in 2010, the various European authorities and private investors have loaned Greece nearly 320 billion euros.
It was the biggest financial rescue of a bankrupt country in history.
As of January 2019, Greece had only repaid 41.6 billion euros. It has scheduled debt payments beyond 2060.
In return for the loan, the EU required Greece to adopt austerity measures. The country minimized expenses to get out of the situation, high taxes and repeatedly slashed salaries and pensions. The country has adopted national economic recovery plan that saw debts decreased, restored economy that it is currently on the path to normalcy.
Dendias has explained that Greece is back for international cooperation starting with Africa and a continent with promising economy.
“The latest bilateral agreement between our two countries was signed 35 years ago. To be open, we didn’t implement and this is totally unacceptable,” he said.
“We have decided that we want to enhance our relations with African countries, because, among others, Africa will be the economic powerhouse of the world. Some of the fastest growing economies are located in this beautiful continent,” added Dendias.
He explained that Greece found it necessary to cooperate with Rwanda as the right gateway to penetrate on the continent considering the country’s remarkable progress following the 1994 Genocide against Tutsi.
“We, Greece, have no colonial past and by extension we do not carry any historic baggage. Also, thousands of my compatriots Greeks have emigrated to Africa and they have created thriving Greek Communities around the continent. For us, the gate to Africa should be Rwanda. Rwanda has recovered from one of the worst genocides in human history; a genocide that is within living memory of many of us. Rwanda has set an international standard for reconciliation, reconstruction and national unity. You have clearly set a benchmark,” revealed Dendias.
The annual World Bank’s Doing Business Report places Rwanda among the best African destinations for doing business and a fast-growing economy.
Dendias emphasized that it is an advantage to cooperate with such a country with favorable business environment.
He also stressed the need to fast track MoUs signed between both countries enhanced cooperation with countries that share the same principles and the same values ‘especially the belief that International Law should be the norm in relations between countries’.
After holding talks with Minister Biruta, Dendias visited Kigali Genocide Memorial where he paid tribute to victims of the 1994 Genocide against Tutsi laid there.
Among others, Dendias and his delegation also met with President Paul Kagame at Village Urugwiro where they held talks revolving around strengthening bilateral cooperation between Rwanda and Greece, regional issues as well as the Africa-EU relationship.
He also held discussions with officials from different public institutions including Rwanda Governance Board.
Rwanda and Greece enjoy existing relations in different areas. In July 2021, Rwanda Defence Force (RDF) Chief of Defence Staff, Gen Jean Bosco Kazura visited Athens, the capital of Greece to strengthen cooperation.
He was welcomed by Gen Konstantinos Floros, Chief of Defence Staff of the Greek Defence Force.
In 2018, both countries signed air service agreement.
