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  • German Terminates US$26M Support to Rwanda

    The German Development Ministry has announced (Saturday) suspension of its planned aid budget to Rwanda citing allegations that Rwanda supports eastern Congo’s latest rebellion.

    Germany’s development ministry said Saturday that it suspended US$26 Million in contributions to Rwanda’s budget planned from this year through 2015.

    Britain and the Netherlands already have suspended support and the U.S. cut planned military aid.

    German Development Minister Dirk Niebel said he expects “unreserved cooperation” by Rwanda with the U.N. experts.

    He added ,”The accusations must be cleared up completely, and it must be clear that Rwanda does not support any illegal militias in eastern Congo.”

  • New Drug Cuts HIV Infection by 40% in Hormosexuals

    A study conducted in Kenya and Uganda reveales that proper use of a new antiretroviral drug can reduce infection by 75% among discodant couples and 40% among hormosexuals.

    World Health Organisation (WHO) says that people who are at a high risk of contracting the HIV virus could be protected if they adhered to new guidelines on the use of antiretroviral drugs issued by WHO.

    This new set of guidelines will protect health workers, discordant couples, sex workers and babies, all of whom are at a high risk of getting infected with HIV virus.

    These new guidelines are based on clinical trials in the UK indicating that a daily dose of oral antiretroviral medication, known as pre-exposure prophylaxis (PrEP), taken by HIV-negative people to reduce the risk of infection, is both safe for people to use and effective in preventing HIV.

    WHO recommends that countries intending to introduce PrEP should first establish small projects to help public health workers better understand and realise PrEP potential benefits in preventing transmission of HIV.

    Also public health workers should identify the most vulnerable groups at risk of contracting HIV for which ARVS should be given and ascertain the best ways to deliver the services to them.

  • US Hails Rwanda’s Progress on Health-related MDGs

    The US government has hailed Rwanda’s progress made in the Health-related Millennium Development Goals (MDGs).

    This follows a meeting between Minister of Health Agnes Binagwaho July 27 and the United States Secretary of Health and Human Services, Kathleen Sebelius.

    Both leaders shared lessons from health reform efforts in Rwanda and the United States.

    Dr. Binagwaho highlighted key drivers of the progress made in Rwanda saying the country’s success story has been a result of many strategies pursued simultaneously, including;

    strong commitment of national and local leaders, rapidly scaling-up of proven technological and policy innovations, structures ensuring accountability at all levels in health sector, and a relentless focus on equity.

    Sebelius explained that U.S government was increasing access to subsidised preventive services, based on a similar spirit to the preventive care package that is currently provided in Rwanda by RAMA.

    Dr.Binagwaho responded by explaining that the package will be provided through mutuelles de santé in the future.

    Secretary Sebelius and Minister Binagwaho exchanged ideas on areas for new collaborations between the United States global health programs and the Ministry of Health of Rwanda.

    The two identified collaborative studies of the burden of chronic non-communicable diseases (such as heart disease, cancer, diabetes, lung disease, and mental illness) for better prevention and treatment as a top priority.

    There is currently little reliable evidence on these conditions in Rwanda and in the region, so this new research will be essential to the Ministry of Health’s efforts to prevent and treat these conditions.

    The meeting occurred in the context of the nineteenth International AIDS Conference.

    Rwandan delegation consisting of Ministry policymakers, researchers and civil society members traveled to Washington DC for the conference and shared Rwanda’s experience in the fight against HIV/AIDS and to take lessons from other countries around the world.

    During the conference, the World Bank President, Dr. Jim Yong Kim urged the world to take lessons from Rwanda’s success in integrating HIV/AIDS prevention, care, and treatment with broader anti-poverty mechanisms.

    “From being an exception, [Rwanda’s] approach can become the rule,” Kim said. “This will be a leap forward in our capacity to build systems and deliver results.”

    Dr. Binagwaho also met several US government officials to discuss Rwanda’s Human Resources for Health Program(HRH) and key considerations for the next set of global development goals after the end of the MDGs in 2015.

  • World’s Largest Telescope Launched in Africa

    Scientists have announced that the biggest telescope has began capturing cosmic rays of the universe that would give mankind its farthest peek into the Universe.

    The “Cherenkov” telescope has the size of two lawn tennis courts and is the biggest of its kind based in Namibia, Africa.

    Cherenkov-HESS-II telescope is situated about 100 kilometres (60 miles) west of the Namibian capital Windhoek.

    The 600-tonne telescope structure with its 28-metre (92-feet) mirror will be observing the most violent and extreme phenomena of the universe in very high energy gamma rays.

    It “not only provides the largest mirror area among instruments of this type worldwide, but also resolves the cascade images at unprecedented detail, with four times more pixels per sky area compared to the smaller telescopes”, Pascal Vincent, one of the scientists, said in a statement released Thursday in Europe.

    Successful commissioning of the HESS II telescope represents a big step forward … for the astronomical community as a whole and for southern Africa as a prime location for this field of astronomy,” said Werner Hofmann of Germany’s Max Planck Institute.

    South Africa in May secured the right to co-host with Australia the world’s biggest super radio telescope that would give mankind its farthest peek into the Universe, the Square Kilometre Array (SKA).

    Namibian first HESS observatory has been in operation for almost 10 years and run by more than 170 scientists from 12 different countries including South Africa, Germany, France, Britain and Australia.

  • UK Suspends Budget Aid to Rwanda

    The UK government has suspended aid to Rwanda worth £16m ($25m) saying in a statement that it was delaying in budget support due July 2012 while considering whether aid conditions had been met.

    Total UK aid to Rwanda in the year 2012-13 is projected to be about $118m.

    Rwanda’s Foreign Affairs Minister Louise Mushikiwabo said that UK’s decision to terminate aid was “one sided”.

    “More importantly I think it’s a wake-up call for Rwanda and other aid recipient countries to actually start fending for ourselves and figure out a way to sustain our development without being subjected to bullying and pressure from donors,”

    This Follows simillar actions against Rwanda by the Netherlands that have also withheld aid to Rwanda over alleged backing of rebels in Democratic Republic of Congo.

    Mushikiwabo said (Friday) that she regreted the “hasty decisions based on flimsy evidence” made by donor partners on Rwandan budget support.

    The brief UK announcement emerged after the Dutch foreign ministry confirmed it would no longer be making payments worth $6.15m (£3.9m) to Rwanda’s aid budget until it had received reassurances from Rwanda government.

    Mushikiwabo said any decision to suspend aid based on the UN report was “taken on evidence that does not exist”.

  • Private Sector Contributes 80% to EAC Economy

    Private sector’s contribution to the East African economy currently stand at about 80% in terms of wealth creation, production of goods and services and poverty alleviation, according to the EAC secretary general, Dr Richard Sezibera.

    Based on this fact, he underscored the need to design a framework for collaboration and dialogue between the community secretariat, private sector, civil society organisations and other interest groups.

    Addressing company CEOs from across the region in Kigali on Monday, Dr. Sezibera said dialogue between different players would ensure the integration process creates better business environment aimed at enhancing EAC competitiveness and boost economic growth.

    He said in a speech, a copy of which was sent to The Citizen, that EAC has prepared a draft framework to help engage the private sector in a more robust way.

    The current EAC Development Strategy postulates, among its priority areas, to include improving regional/global competitiveness for faster and sustainable economic growth and move closer to the status of the newly industrialised nations.

    At the same time the strategy focussed on establishing a robust legal and administrative framework that would facilitate regional economy to generate more income and wealth.

    He noted that the private sector interests were at the top of the list of priorities of the EAC Strategic Plan, whereby the Strategy identifies critical constraints to be addressed —including limited supply capacity to take advantage of the available regional preferential market access and underdeveloped regional infrastructure.

    The EAC boss also disclosed that measures were being taken to conclude a Public-Private Partnership Framework for the EAC, which would go a long way to enhance private sector participation in public enterprises.

    He said a study had been completed by the World Bank in consultation with EAC, which presented a “needs assessment” on the formulation of a suitable policy framework and strategy and awaits consideration and guidance by the EAC Council of Ministers.

    The proposed framework will facilitate private sector participation in public enterprises with a regional dimension particularly in industrial and infrastructure projects.

  • Mushikiwabo Regrets Donor ‘Hasty Decisions’ to Cut Aid

    Rwanda’s Foreign Minister Louise Mushikiwabo today (Friday) expressed regret at “hasty decisions based on flimsy evidence” made by donor partners on Rwandan budget support.

    There have been various media reports in recent days about development partners suspending or deferring aid disbursements to Rwanda in light of the Group of Experts report on the crisis in the eastern DRC.

    Minister Mushikiwabo noted, “We have just concluded discussions with the Group of Experts and comprehensively rebutted every one of the allegations with conclusive documentary evidence.”

    She added,“Once we share this with development partners, we believe this will provide them the reassurance they seek in light of an orchestrated media and political campaign to blame Rwanda for this crisis.”

    “Rwanda is impatient in pursuit of poverty reduction, economic development and self-sufficiency. Our people cannot afford this kind of distraction.”

    Meanwhile, The Netherlands today suspended an aid budget worth US$6.15Million to Rwanda also like US government based on allegations that Rwanda was backing of rebels in the DRCongo.

    Rwanda’s ambassador to the Netherlands, Immaculee Uwanyiligira, says she is very disappointed with the Dutch government’s decision.

    “You would think that from a country like the Netherlands, that is known for its strong judicial system and openness, they would not take such hasty decisions based on a thin, unsubstantiated report,” she said.

    A spokesperson for the Dutch foreign ministry said the Dutch government would, in consultation with its EU partners, re-evaluate its position on development cooperation with Rwanda.

    This would happen on the basis of an assessment of Rwanda’s formal response to the UN findings and current developments in the field, including an immediate end to Rwandan support for rebels in the DRC.

    However, Support for NGOs active in Rwanda has not been suspended.
    In December 2008 the Netherlands revoked aid to Rwanda claiming that Kigali was suporting militia gangs in DRCongo.

    On 21st July, the U.S. government announced suspension of military aid to Rwanda citing evidence of Rwandan support for the rebels in DRCongo.

    “The United States government is deeply concerned about the evidence that Rwanda is implicated in the provision of support to Congolese rebel groups, including M23,” said Hilary Fuller Renner, a State Department spokeswoman, in an emailed statement.

    “We will not obligate US$200,000 in Fiscal Year 2012 Foreign Military Financing funds that were intended to support a Rwandan academy for non-commissioned officers. These funds will be reallocated for programming in another country,” she said.

    Previously Minister Mushikiwabo had said reports of Rwanda’s involvement in Congo fighting were “disingenuous” and aimed at making Rwanda a scapegoat for DRC’s problems.

  • Market Report: Lower Turnover Recorded Friday

    The RSE market today (Friday) recorded a lower turnover of Rwf 9,253,100 compared to yesterday’s trading session.

    Bank of Kigali (BK) counter recorded 3 transactions of 70,000 shares which traded between Rwf 126 and Rwf 135 whereas Bralirwa counter registered 2 transactions of 700 shares traded between Rwf 359 and Rwf 365.

    on Thursday the market had registered a total turnover of Rwf 44,160,200 from 210,500 BK shares and 43,700 BRALIRWA shares traded in 12 deals.

    BK share price closed down Rwf 1 at Rwf 135 and Bralirwa share price remained unchanged from yesterday’s closing price of Rwf 365. KCB shares last transacted at Rwf 140 while NMG shares last transacted at Rwf 1,200.

    At the end of formal trading hours, there were outstanding bids of 3,505,300 BK shares between Rwf 125 and 130 and outstanding offers of 514,800 shares between Rwf 135 and Rwf 136.

    On BRALIRWA counter, there were outstanding bids of 1,600 shares between Rwf 357 and Rwf 360 and an outstanding offer of 134,000 shares at Rwf 375.

    This week the RSE market recorded a higher turnover compared to last week’s trading session.

    The total turnover for this week was Rwf 2,385,914,800 from 13,883,100 BK shares and 1,400,800 BRALIRWA shares traded in 38 deals compared to last week’s trading session which recorded a turnover of Rwf 236,157,800 from 942,700 BK shares and 334,600 BRALIRWA shares traded in 33 deals.

  • KCB Records 50% Growth

    Kenya Commercial Bank KCB, has reported a 50% growth in profits after tax in the first half of the year helped by a growth in interest income.

    KCB on Thursday said its profits after tax rose to KSh6 billion in the six months to June from the KSh4 billion it reported in a similar period in 2011.

    “We attribute the performance to growth to in our revenues and prudent cost management,” KCB Chief Executive Martin Oduor said in an interview at the sidelines of an investor briefing.

    Net interest income grew 36% to KSh14.3 billion from KSh10.5 billion earned in the previous year.

    KCB’s total operating expenses grew by 16% to KSh11.9 billion compared to KSh10.2 reported in the previous year.

    KCB’s balance sheet grew 25% to KSh349.3billion while its total shareholder funds now stands at KSh46.4 billion from KSh38.4billion in the previous period.

    However KCB increased its provisions of bad debts by 72% to KSh1.4billion a signal that it is preparing for higher risk of defaults on loans it booked during the from the turbulent macroeconomic conditions in the recent months.

  • Rwanda Gets US$ 320 Million for Rubavu-Gisiza road

    The Government of Rwanda Signed July 27, two financing agreements comprised of a Loan agreement of Units of Account (UA) between African Development Bank and Government of Rwanda of a total amount of US$ 320 Million.

    Since 2010, the Government of Rwanda has been mobilizing financing for the construction of the Kivu Belt road project.

    The 186 km road project which stretches from Rusizi to Rubavu via Karongi was costed at USD 320 million. The mobilization was made in four lots (lots 3, 4, 5, 6 and 7) .

    This road project connects Rwanda to DRC and Burundi, it is expected that once the road is completed, it will facilitate trade and boost tourism along the North and South corridors.

    During the signing, Government of Rwanda represented by the Permanent Secretary and Secretary to the Treasury in the Ministry of Finance and Economic Planning, Ms. Kampeta Sayinzoga and the African Development Bank represented by Mr. Negatu Makonnen, the Resident Representative of the African Development Bank, Rwanda Office, signed two financing agreements.

    The agreement comprised of a Loan agreement of Units of Account (UA) 40,525,000 and a Grant agreement of Units of Account (UA) of 4,525,000 both totalling to UA 45,050,000 (approximately USD 68 million) to finance Lot 7 of the Kivu Belt.

    Lot 7 covers Rubavu-Gisiza and has a length of 47.9 KM. This is phase three of AfDB financing to this multinational road, the first and second phases saw the construction of 100 km route connecting Ruhwa – Cyangugu-Ntendezi-Mwityazo (Lot 3 of the Kivu belt covering 50km) with financing equivalent to UA 65,000,000, approximately USD 89,000,000.

    The other co-financers for the road sections are:

    The Government of Rwanda which provides counterpart funds on all lots

    Exim China which provided financing for Lot 4 and 5 (66 Km) with an amount equivalent to of USD 116 Million covering Mwityazo – Ruvumu & Ruvumu – Kibuye

    Arab Funds (Kuwait Fund For Arab Economic Development, the Saudi Bank For Economic Development, the OPEC Fund for International Development and the Arab Bank for Economic Development in Africa) which provided USD 47 million to finance Lot 6 covering Rubengera (Karongi)-Gisiza (Rutsiro)-23.6 km.

    The Permanent Secretary and Secretary to the Treasury thanked the AfDB for its continued support to Rwanda’s development Programme especially in the area of Infrastructure development- a priority sector in the EDPRS.

    The Resident Representative of the AfDB commended the Government of Rwanda for its continued effective use of Development Partners’ support and pledged on behalf of the Bank to continue supporting Rwanda’s development agenda.