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Central Banks Reduces Lending Rate to 6%

Central Banks Reduces Lending Rate to 6%

  Rwanda’s Central Bank (BNR) announced on Tuesday it will maintain its key repo rate at 6% for the next three months down from 6.25%. Central Bank Governor…

Rwanda Day Increased Remittances Back Home

Rwanda Day Increased Remittances Back Home

In 2010, the government of Rwanda decided to go beyond its borders mobilising Rwandans in Diaspora to contribute to nation building. Through #Rwanda Day, more than 40000 Rwandans have been…

Tax on Sugar Down But Remains High on Second-hand Clothes

Tax on Sugar Down But Remains High on Second-hand Clothes

At least many homes in Rwanda will afford sugar but will have to spend more money to buy second-hand clothes and shoes. Going by the National Budget for 2017…

Cabinet Approves Budget for 2017/2018 Fiscal Year

Cabinet Approves Budget for 2017/2018 Fiscal Year

A whooping Rwf 2 trillion will be used to finance all activities planned for the 2017/2018 financial year. On Tuesday, an extra ordinary cabinet meeting convened at Village Urugwiro…

Rwanda Considers Selling Many ‘Loss-Making’ Public Factories

Rwanda Considers Selling Many ‘Loss-Making’ Public Factories

Several public owned factories are reportedly operating under losses and Rwanda government is considering selling them off to private investors. For example loss-making milk processing plants include; Mukamira diary…

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…