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Economy

MTN, RURA in Prolonged Negotiations Over $8.5m Fine

MTN, RURA in Prolonged Negotiations Over $8.5m Fine

Rwanda Utilities Regulatory Authority (RURA) and MTN Rwanda are holding  closed-door discussions over a multibillion fine slammed against the telecom company , KT Press has established. According to MTN Rwanda…

Hundred Private Schools Bankrupt , Begin Closing Business

Hundred Private Schools Bankrupt , Begin Closing Business

Private schools are pleading with government for partnerships and save them from failing due to bankruptcy. More than hundred schools across the country fear that they may run out of…

Unemployment Rate in Rwanda Actually 13.2% Not 2.5%

Unemployment Rate in Rwanda Actually 13.2% Not 2.5%

Unemployment statistics in Rwanda previously provided by the statistics body have been inaccurate, KTPress reports. The National Institute of Statistics of Rwanda (NISR) on Tuesday admitted before Parliament that they…

Car Imports to Rwanda Drop by 20% As High Taxes Bite

Car Imports to Rwanda Drop by 20% As High Taxes Bite

Potential car buyers in Rwanda are increasingly hesitant to dip into their pockets to acquire cars imported into the country due to high taxes. This behaviour among potential clients may…

Rwanda Backs India-African Development Bank New Venture to Fund Agriculture

Rwanda Backs India-African Development Bank New Venture to Fund Agriculture

Rwanda is backing African Development Bank’s new strategy to work with India aimed at boosting Agriculture transformation on the continent. Speaking this morning at the ongoing 52nd Annual Meetings…

Import of Second Hand Clothes May Not Stop Soon

Import of Second Hand Clothes May Not Stop Soon

For many years Rwandans have been dependent on second hand clothes imported from Europe and the United States. They are affordable and their high demand kept traders in business. However…

Investment Fund to Raise $20m to Boost Women Businesses

Investment Fund to Raise $20m to Boost Women Businesses

Limited access to finance has for long been a major hindrance to success for women entrepreneurs. However, an all-women investment fund, ‘Rugori Digital Fund’ has another plan. ‘New…

Fuel Pump Prices Drop More than Rwf20

Fuel Pump Prices Drop More than Rwf20

Following a drop in oil prices below $50 per barrel on International market, Rwanda has announced a drop in petrol and diesel prices to Rwf1002 ($1.2) and Rwf950 ($1…

New Bill Exempts Double Taxation on Rwandan Exports to Morocco

New Bill Exempts Double Taxation on Rwandan Exports to Morocco

The Rwandan parliament has today unanimously passed a bill on exemption of double taxation on commodities exchanged between Rwanda and Morocco. Parliament urged Rwandans to start investing in Morocco. The…

Rwanda Plans $200m Fund to Subsidise Home Owners

Rwanda Plans $200m Fund to Subsidise Home Owners

Rwanda will in three months set up a multimillion dollar fund to help bring down the current cost of housing, KT Press reveals. Infrastructure Minister James Musoni told KT Press…

Rwanda’s Army Bank Recorded $8.3m Net Profit in 2016

Rwanda’s Army Bank Recorded $8.3m Net Profit in 2016

Rwanda’s Amy bank, Zigama CSS has announced that it earned a total net profit worth Rwf6.8 billion ($8.3 million) in 2016 compared to Rwf5.2 billion ($6…

Banks Earned Nearly $100m Net profit in FY16

Banks Earned Nearly $100m Net profit in FY16

Despite the bad loans, last year banks in Rwanda earned a combined total of Rwf3billion more than they made in the previous year 2015, the central bank announced Wednesday. John…