Category: Opinion

The Rwanda Stock Exchange Friday indicated that market prices continued an upward trend as Bralirwa share hit a new high price of Rwf 436.

The total turnover for the day was Rwf 22,956,000 from 136,100 BK shares and 12,100 Bralirwa shares traded in nine deals compared to yesterday’s trading session which recorded a turnover of Rwf 6,780,200 from 2,000 BK shares and 15,100 Bralirwa shares traded in four deals.

BK shares traded and closed at Rwf 130, unchanged from yesterday’s closing price while BRALIRWA shares traded between Rwf 430 and Rwf 436 and closed at Rwf 436; registering an increase of Rwf 4 compared to yesterday’s closing price. KCB and NMG shares prices last transacted at Rwf 154 and Rwf 1,200 respectively.

At the end of formal trading hours, there were outstanding bids of 1,097,900 BK shares at Rwf 130 and outstanding offers of 200,500 shares at Rwf 131 and Rwf 132. On Bralirwa counter, there were outstanding bids of 100,000 shares at Rwf 430 and no outstanding offers.

Prime Minister Dr. Pierre Damien Habumuremyi has called for support to enterprising citizens that have established great projects.

He made the call while touring the Mashroom processing Plant, BN Producers, at Jabana sector in Gasabo district.

The BN Producers Factory has a capacity to process over 5 tons annually but currently they are unable because of space challenges.

Mashrooms require to be dried at the factory before they can be processed into flour that can be packaged in many forms.

However, BN Producers can only dry 30Kg of mashrooms in three days yet mashroom farmers deliver over 500Kg daily.

Niyibaho Berthilde a woman that founded BN Producers says the challenge her factory faces is the inability to secure a loan.

Niyibaho said she had applied for a Loan from Rwanda Development bank BRD, but was denied the loan because the bank argued she didnt have enough Collateral.

She also says the Factory is faced with a challenge of paying a debt of Frw10Million owed to mashroom farmers that supply the factory.

There are 4000 mashroom farmers employed by BN Producers.

The factory is currently valued at Frw 870 Million. She says she needs a Loan of only Frw199Million to Boost her business.

Businesses earning Frw2 Million or lower in a year have been exempted from taxes. Rwanda Revenue Authority has said.

Ben Kagarama, the Commissioner General of RRA, said at a news conference, “any business that makes Frw2 million or less will be exempted from taxation.”

He added that other businesses making Frw2-4 million a year will pay a flat tax of Frw60,000 whereas those making Frw4-7 million will pay Frw120,000 a year.

Also businesses that generate incomes between Frw7-10 million will pay a total of Frw210,000 while those earning Frw10-12 million will pay Frw300,000 annually.

Rwanda Revenue Authority says the new changes come after talks with the traders and the Private Sector Federation.

“We devised a new tax regime which is now imbedded in a new law to make it easy for the businesses to declare taxes,” says Kagarama.

“previously, businesses making between Frw1.2M and Frw20M were were paying 4% of income..this was considered exorbitantly high. In the new adjustments business that earn Frw2M and lower, have been exempted from taxation.”

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.

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).

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.