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East African Telecoms rush to slash calling rates ahead of deadline

East African Telecoms rush to slash calling rates ahead of deadline

MTN Rwanda announced on Monday, October 6, it has cut down charges on call for its roaming subscribers ahead of the Wednesday launch of One Network Area Agreement. MTN follows Kenya’s Safaricom who slashed their rates to Rwanda by 60% September 30. The One Network Area Agreement (ONAA) is a commitment by regional countries to […]

IMF says bank rates in Rwanda are dangerous

IMF says bank rates in Rwanda are dangerous

The International Monetary Fund (IMF) is concerned commercial banks in Rwanda are ripping off customers with acute interest rates, derailing growth. Interest rates on credit are surging between 18% and 20% and an average of 5% on deposits, yet central bank repo rate remains at 6.5%. The IMF says the trend is dragging Rwanda’s development […]