Igihe

Category: Business

  • Airtel Introduces Radical Package

    By loading airtime of Frw300 on your Airtel phone, you can now talk all day uninterrupted.

    This is the latest package Airtel has introduced calling it, ‘unlimited way’ to communicate.

    In this new package, one can topup Frw2000 for a week and Frw7,000 for a month.

    Airtel says it is not about the minutes you talk anymore but giving you the possibility to get your message across.

    By subscribing to *456# you can talk the entire day on the Airtel network for Frw300. This is a radical shift from billing per minute or even per second. This new option can change our everyday lives.

    For business people who can afford it, they do most of their work on the phone, whether with suppliers or clients. Being able to be connected and stay connected is key to any successful business.

    Bringing to Rwandese entrepreneurs, micro and small businesses, more connectivity means increasing their productivity.

    From a mobile phone you will be able to finalize your deals or get information on the market and adjusting instantly. This will be more cost effective therefore directly impact profits.

    The youth is another key economic group that can take advantage of this change. They form a vital component of our population that needs to connect with their colleagues, friends and family.

    With a wealth of ideas and innovation, they are looked upon to drive the economy in the future. Like the youth around the world, sharing is a big part of their growth as entrepreneurs and innovators.

    This affordable solution will enable them to work together, develop their business and social projects.

    Airtel also provides 3.75G internet launched mid 2011.

    Heritiana Randrianarison, the Airtel head of Marketing says, “The quality of Airtel network has been at the forefront of Airtel values around the world. When you look at Rwanda’s impressive growth, the country has set high standards. We are committed to deliver the best quality network to connect all Rwandans.”

    Airtel Africa’s parent company – Bharti Airtel – is a leading integrated telecommunications company with operations in 20 countries across Africa and Asia.

    The company is ranked as the fifth largest mobile service provider globally in terms of subscribers with over 250 million customers across its operations.

    Airtel Rwanda has been rolling out its coverage upcountry, with all towns already powered with 2G and 3G.

  • French Business Delegation Explores Opportunities in Rwanda

    A delegation of French business persons is in Rwanda where they are expected to explore investiment opportunities. They arrived October 8 and will conclude their visit on October 12.

    In a particularly depressed global economic , sub-Sahara Africa, growing continuously for more than 10 years now, increasingly appears as the last frontier to global growth.

    Many challenges are still overcome, but one nation, Rwanda, is showing unprecedented vigor in catching up from the past. Courageous and determined, their eagerness to rebuild their country leaves no one indifferent.

    Regularly qualified as a “little African dragon”, the country, bilingual and ideally located at the junction of the Anglophone and Francophone Africa, is experiencing a growth of almost 7% per annum and has a first class business environment that offers many opportunities that French companies ignore.

    Novafrica Developments, consulting company specialized in East Africa business development, will bring a delegation of seven enterprises, mainly SMES from various sectors, to discover the Rwandan market from 08 to 12 October 2012.

    The operation could have been unnoticed but is actually unique as this promising destination has disappeared from the radar screens of the French companies.

    This country, besides its own economical relevance is also a gateway to the unfamiliar and yet very dynamic and ambitious East African Community (EAC).

  • Tuesday Trade Volumes Drop

    As at October 9, the Rwanda Stock Exchange Market went down in traded volumes and turnover compared to Monday’s trading session.

    The total turnover for the day was Frw 8,909,400 from 56,100 BK shares and 3,800 Bralirwa shares traded in 9 deals compared to Monday’s trading session which recorded a turnover of Frw 36,111,000 from 84,900 Bralirwa shares traded in four deals.

    BK bank shares traded and closed at Frw130, unchanged from Monday’s closing price while BRALIRWA shares traded between Frw 425 and Frw426 and closed at Frw 425; unchanged from Monday’s closing price.

    KCB bank and NMG shares prices last transacted at Frw 154 and Frw 1,200 respectively.

    At the end of formal trading hours, there were outstanding bids of 643,900 BK shares at Frw130 and outstanding offers of 485,400 shares at Frw131 and Frw 134.

    At the Bralirwa counter, there were outstanding bids of 20,000 shares at Frw425 and outstanding offers of 133,000 shares between Frw426 and Frw430.

  • Diesel & Petrol Prices Up

    The Ministry of Trade and Industry informs the general public that with effect from Saturday 06th October 2012, the prices of the following petroleum products shall be as follows.

    The Kigali base price for Super must not exceed 1,050 RWF per liter;

    The Kigali base price for Diesel must not exceed 1,050 RWF per liter.

    This increase in Petrol and Diesel fuel prices is mainly due to the high oil prices escalation on the international market where petroleum products prices have increase on average by 10% since August 2012.

  • Sugar Price Up

    The Price of sugar has increased in the past few weeks raising concerns from consumers who say this might affect the prices of other products.

    A kilogram of sugar now costs between Frw900 and Frw1,000.
    Previously the price was set between Frw700 and Frw750.

    The Minister of Trade and Industry Francois kanimba says the cause of the price rise is due to a rise in taxes imposed on sugar in East African countries.

    However, the Minister promised that the problem will be handled very soon.

    Subsequently, the price of Bread has risen and other products are gradually increasing in prices.

  • Airtel to Introduce Mobile Money Transfer Service

    Airtel Rwanda is set to introduce an electronic money transfer package to its clients stepping up efforts to increase its market share.

    The product dubbed AirtelMoney will be implemented by the end of 2012.

    Country Manager Marcellin Paluku said the platform will provide innovative mobile financial services to both the financially excluded and the banked population and is likely to boost initiatives to promote a cashless economy.

    Paluku said subscribers will be able to send and receive money, pay their bills, and access their bank accounts.

    AirtelMoney faces competition from the MTN and Tigo mobile money platforms, which have been growing rapidly. Both telecom operators have partnerships with banks.

    Recent data shows MTN’s mobile money service has transacted over Frw70 billion since it was launched.

  • Kabuye Sugar Works Resorts to Upland Sugarcane

    Kabuye Sugar Works has moved into upland sugarcane growing, aimed at boosting sugar output through cutting losses resulting from floods.

    The country’s sole sugar maker has for a couple of years appealed to government for more land on which to grow sugarcane, arguing that their current plantations lie on swamps, which prone to flood during heavy rains.

    Kabuye says it incurs a loss of between 3000 and 4000 tones of sugar annually leading to supply shortages, which drives sugar prices higher.

    The company is targeting to cultivate 3000-3500 hectares in the next five year.

    This is expected to boost sugar output by between 27,000 and 315,000 tonnes every year.

    Currently Kabuye Sugar Works produces 10,000 tonnes of sugar each year, a decline from 15,000 tonnes that were being produced in 2007 and 2008.

    With national demand for sugar at 50,000 tonnes, the country has had to bridge shortfall in supply through importation.

  • Turkish Airlines to Increase Flights to Kigali

    Turkish Airlines announced that it will increase flights on the Istanbul – Kigali – Entebbe route from currently 4 weekly flights to 5 weekly flights, effective October 28.

    Subject to Rwanda government approval, Brussels Airlines also said it wants to add a fifth flight via Kigali to Nairobi beginning from December 17 to January 01, 2013.

    According to Rwanda Transport News, Rwanda recorded an estimate of 493,744 visitors in the first semester 2012 corresponding to an increase of 22% compared to 2011 in the same period.

    There was 16% increase in leisure visitors as well as an 8% increase in business visitors.

    As of 28 Oct 2012, Turkish Airlines will reduce its service between Istanbul and Dar Es Salaam (Tanzania) from daily flights to 5 weekly flights.

    Also starting on 28 Oct 2012, Turkish Airlines will operate the flight between Istanbul and Nairobi with a Boeing 737-900 instead of a Boeing 737-800.

    Turkey’s national carrier Turkish Airlines – is the latest intercontinental carrier to announce an increase in flights to Kigali amid a surge in travelers coming to Rwanda

  • BK Named Best Bank in Rwanda

    Emeafinance magazine awarded Bank of Kigali as the Best Bank in Rwanda noting the fact that for the fourth consecutive year, BK has shown that is a bank seeking excellence.

    Emeafinance magazine is a publication of London-based Exporta Publishing & Events Ltd.

    The publication’s African Banking Awards recognize the best Banks throughout Africa based on key indicators such as market share, key deals, strategy and profitability.

    “It is noteworthy that the Bank has been recognized as the Best Bank in Rwanda by emeafinance for the 4 years running. This demonstrates our continued commitment to our customers through superior delivery of financial services and products.” Said the CEO of BK Mr. Gatera James

  • Kigali to Host African Economic Conference

    African Development Bank has said Kigali will host the 2012 African Economic Conference from 30 October to 2nd November, 2012.

    The theme of the 2012 conference is” Fostering inclusive and sustainable development in Africa in an Age of global economic uncertainty”.

    The conference will focus on long-term continental economic growth in the aftermath of the financial and economic crisis.

    According to African Economic Outlook 2012, Africa’s average growth declined from 5% in 2010 to 3.4% in 2011, mainly due to the political uprisings in North Africa, whose growth rate was only 0.5% in 2011.

    With the gradual recovery of North African economies, average growth is expected to rebound to 4.5% in 2012 and to 4.8% in 2013.