Igihe

Tag: a_doingbusiness

  • Kivu Belt Financing Mobilization Sealed

    Rwanda has signed a Financing Agreement with the Saudi Fund For Development to co-finance Lot 6, Rubengera-Gasiza of Kivu Belt Multinational Road.

    The MOU was signed October 12, in Tokyo-Japan as a sideline event to the World Bank/IMF Annual Meetings.

    The Government of Rwanda, represented by Honorable John Rwangombwa, Minister of Finance and Economic Planning and the Saudi Fund For Development, represented by HE Eng. Yousef Ibn Ibrahim Al-Bassam, the Fund’s Vice Chairman and Managing Director.

    The aforesaid signing ceremony is about the US$ 13,000,000 pledge that Saudi Fund For Development did during the fundraising round table to co-finance Lot 6, Rubengera-Gasiza of Kivu Belt Multinational Road as sidelines of the 9th Government of Rwanda Development Partners Meeting (DPM) November 2010 in Kigali.

    During its meeting in the 2nd quarter of 2012, the Fund’s board of Directors approved the Loan to Rwanda of US$ 13 Million under more good (concessional) terms.

    During the signing ceremony Rwangombwa, on behalf of the Government of Rwanda, and HE Eng. Ibrahim Al-Bassam, expressed their satisfaction on the development partnership between Rwanda and and the Saudi Fund.

    The road will be 23.6 Km long and 7 meters wide at a total cost of US$ 52.7 Million. The other contributors to the funding of the road section are: the Government of Rwanda (USD 4.35 Million), Kuwait Fund For Arab Economic Development (US$ 13 Million), The OPEC Fund for International Development (OFID, US$ 10 Million), Arab Bank for Economic Development in Africa (BADEA, US$11 Million).

    We have signed with all other 3 Arab co-financiers;

    Design studies were completed in 2008 by Saudi International and Construction Works started in 2010 by Lot 3, Rusizi-Mwityazo, 50 Km, under the funding from the African Development Bank, of US$ 63 Million.

    The African Development Bank and Government of Rwanda have also financed Lot 7, Gasiza-Rubavu (US$ 68 Million) of 47,8 Km.

    The Government of Rwanda contracted a US$ 113 Million China Export Import Bank to construct Lot 4 and Lot 5, 66 Km from Mwityazo (Nyamasheke) to Rubengera (Karongi).

    The total length of the multinational (Burundi-Rwanda) Road is 265.7km, with 185 Km on Rwandan side (Kivu Belt Road) to cost Rwanda on designs, construction and supervision of works US$ 350 Million.

    With the Saudi Fund financing, the mobilization of the funding is concluded.

    When completed, the multinational road will have among other benefits such as promoting regional integration, contribute to trade and provide easy access to these land locked countries to the sea ports.

    It additionally will increase the potential for tourism and fisheries on Lake Tanganyika and Lake Kivu.

    As internal benefits, the road will increase trade, reduce transportation time and costs in the western province, as well as the rest of the country. The Western province produces 70% of the nation’s coffee and 40% of the nation’s tea.

    Ongoing projects of the Fund include “Increased Electricity Access in Some Areas in Rwanda” project: US$ 11 .7 Million, the “Rehabilitation of Kitabi-Congo nil Road” Project : US$ 10 Million and the Rehabilitation and the “Extension of King Faisal Hospital” Project: US$ 12 Million.

  • Kivu Belt Financing Mobilization Sealed

    Rwanda has signed a Financing Agreement with the Saudi Fund For Development to co-finance Lot 6, Rubengera-Gasiza of Kivu Belt Multinational Road.

    The MOU was signed October 12, in Tokyo-Japan as a sideline event to the World Bank/IMF Annual Meetings.

    The Government of Rwanda, represented by Honorable John Rwangombwa, Minister of Finance and Economic Planning and the Saudi Fund For Development, represented by HE Eng. Yousef Ibn Ibrahim Al-Bassam, the Fund’s Vice Chairman and Managing Director.

    The aforesaid signing ceremony is about the US$ 13,000,000 pledge that Saudi Fund For Development did during the fundraising round table to co-finance Lot 6, Rubengera-Gasiza of Kivu Belt Multinational Road as sidelines of the 9th Government of Rwanda Development Partners Meeting (DPM) November 2010 in Kigali.

    During its meeting in the 2nd quarter of 2012, the Fund’s board of Directors approved the Loan to Rwanda of US$ 13 Million under more good (concessional) terms.

    During the signing ceremony Rwangombwa, on behalf of the Government of Rwanda, and HE Eng. Ibrahim Al-Bassam, expressed their satisfaction on the development partnership between Rwanda and and the Saudi Fund.

    The road will be 23.6 Km long and 7 meters wide at a total cost of US$ 52.7 Million. The other contributors to the funding of the road section are: the Government of Rwanda (USD 4.35 Million), Kuwait Fund For Arab Economic Development (US$ 13 Million), The OPEC Fund for International Development (OFID, US$ 10 Million), Arab Bank for Economic Development in Africa (BADEA, US$11 Million).

    We have signed with all other 3 Arab co-financiers;

    Design studies were completed in 2008 by Saudi International and Construction Works started in 2010 by Lot 3, Rusizi-Mwityazo, 50 Km, under the funding from the African Development Bank, of US$ 63 Million.

    The African Development Bank and Government of Rwanda have also financed Lot 7, Gasiza-Rubavu (US$ 68 Million) of 47,8 Km.

    The Government of Rwanda contracted a US$ 113 Million China Export Import Bank to construct Lot 4 and Lot 5, 66 Km from Mwityazo (Nyamasheke) to Rubengera (Karongi).

    The total length of the multinational (Burundi-Rwanda) Road is 265.7km, with 185 Km on Rwandan side (Kivu Belt Road) to cost Rwanda on designs, construction and supervision of works US$ 350 Million.

    With the Saudi Fund financing, the mobilization of the funding is concluded.

    When completed, the multinational road will have among other benefits such as promoting regional integration, contribute to trade and provide easy access to these land locked countries to the sea ports.

    It additionally will increase the potential for tourism and fisheries on Lake Tanganyika and Lake Kivu.

    As internal benefits, the road will increase trade, reduce transportation time and costs in the western province, as well as the rest of the country. The Western province produces 70% of the nation’s coffee and 40% of the nation’s tea.

    Ongoing projects of the Fund include “Increased Electricity Access in Some Areas in Rwanda” project: US$ 11 .7 Million, the “Rehabilitation of Kitabi-Congo nil Road” Project : US$ 10 Million and the Rehabilitation and the “Extension of King Faisal Hospital” Project: US$ 12 Million.

  • Uganda Wants Share on S.Sudan Oil Pipeline

    Uganda has proposed to South Sudan to consider a joint venture in the construction of an oil pipeline through Uganda to Port Lamu in Kenya.

    South Sudan and Kenya in August signed an agreement for the construction of a 2,000km oil pipeline to the Kenyan port of Lamu.

    It is expected to deliver South Sudan’s crude oil to the rest of the world via the port. The construction is expected to begin next June and will cost $3b.

    Uganda argues that the pipeline would benefit the region because more countries would contribute towards its construction and also use it.

  • Uganda Wants Share on S.Sudan Oil Pipeline

    Uganda has proposed to South Sudan to consider a joint venture in the construction of an oil pipeline through Uganda to Port Lamu in Kenya.

    South Sudan and Kenya in August signed an agreement for the construction of a 2,000km oil pipeline to the Kenyan port of Lamu.

    It is expected to deliver South Sudan’s crude oil to the rest of the world via the port. The construction is expected to begin next June and will cost $3b.

    Uganda argues that the pipeline would benefit the region because more countries would contribute towards its construction and also use it.

  • Muhanga Residents Trained on Making Potatoe Cakes

    The project Sweet potato Action for Security and Health in Africa
    (SASHA) trained residents in Muhanga District on how to use
    sweet potatoes while producing juice, baking bread and cakes.

    The project coordinator, Nshimiyimana Jean Claude told IGIHE,
    that SASHA wants to set the groundwork for improving the lives
    of Rwandans by teaching them how to make sweet potatoes
    productive

    He added that Rwandans should actively participate in the
    cultivation of sweet potatoes due to the fact that the crops bring
    in money and help them to address issues of hunger.

    Speaking to IGIHE Minani Joseph, a Sweet potatoes cultivator
    has said since being trained to making baking breads from sweet
    potatoes, he has sold cakes and baking breads valuing Frw 96
    000 thousands

  • Muhanga Residents Trained on Making Potatoe Cakes

    The project Sweet potato Action for Security and Health in Africa
    (SASHA) trained residents in Muhanga District on how to use
    sweet potatoes while producing juice, baking bread and cakes.

    The project coordinator, Nshimiyimana Jean Claude told IGIHE,
    that SASHA wants to set the groundwork for improving the lives
    of Rwandans by teaching them how to make sweet potatoes
    productive

    He added that Rwandans should actively participate in the
    cultivation of sweet potatoes due to the fact that the crops bring
    in money and help them to address issues of hunger.

    Speaking to IGIHE Minani Joseph, a Sweet potatoes cultivator
    has said since being trained to making baking breads from sweet
    potatoes, he has sold cakes and baking breads valuing Frw 96
    000 thousands

  • 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.

  • 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.

  • 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.