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Banking / Investment in Rwanda

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • East Africa: Regional Microfinance Institutions Advised to Apply for Observer Status

    DJIBOUTI CITY, 2015/01/04 Regional microfinance institutions are poised to benefit from regional integration, if they apply for an observer status at the East African community secretariat, Innocent Safari, the permanent secretary, Ministry of East Africa community affairs has said. The advice follows plans by sector players to move towards integrating legal and regulatory frameworks during the recently concluded microfinance CEO's summit in Kigali. During the summit, top micro finance managers resolved to explore ways in which laws, regulations and supervisory frameworks governing the sector can be harmonised to enhance cross-border business.
  • Banks must strengthen internal control systems to mitigate the risk of money laundering

    RWANDA, 2013/11/27 Banks must strengthen internal control systems to mitigate the risk of money laundering or being used as channels of terrorism funding. Roy Melnick, an associate director at PricewaterhouseCoopers, said banks need to have strong monitoring and reporting systems, measures to screen customer's payments and capital flow, inclunding conducting internal audits. He noted that with such safeguards, it is easy for financial institutions to thwart crimes like money laundering and being used as channels of funds to finance terrorism activities.
  • John Rwangombwa, the central bank governor,

    RWANDA, 2013/08/09 John Rwangombwa, the central bank governor, said the major purpose of reducing the key lending rate to seven % in June, down from 7.5 % inMay was to encourage banks to lend to private sector. Rwangombwa was presenting the National Bank of Rwanda's quarterly monetary policy and financial stability statement in Kigali yesterday. He said the outstanding credit to the private sector between June 2012 and June this year increased by 18.3 %, compared to 35.6 % recorded between June 2011 and June last year.
  • AfDB Boosts Rwandese Private Sector With $8m Credit Facility

    RWANDA, 2013/03/21  The African Development Bank (AfDB) and the Development Bank of Rwanda (BRD) has signed an $8 million Line of Credit (LoC) to boost private sector development in Rwanda by supporting BRD lending to its agriculture, agro-processing, telecommunication, education and tourism infrastructure sectors.
  • Rwanda Launches Investment Portal

    RWANDA, 2013/02/10  Rwanda has launched iguide, an investment portal that will attract and update potential investors on business opportunities in the country in a bid to encourage an investment -friendly climate in the country. iguide is an electronic directory that gives up-to-date data on company registration, land acquisition, labor laws, tax regime and other production factors alongside relevant institutions to be contacted, legal documents and officials responsible.
  • American Oil Firm Eyes Rwanda

    RWANDA, 2012/12/27 General Electronics, an American multi-billion firm is eyeing Rwanda for investments in energy, healthcare and oil exploration related business, the company's Africa President, Jay W. Ireland has revealed. GE with expertise in oil and gas exploration and production infrastructure, renewable natural gas, power generation and healthcare is a globally reputed company with an estimated market capital of additional than $100 billion.
  • Bank of Kigali launches money transfer service

    RWANDA, 2012/12/09 Rwanda’s biggest bank by assets, Bank of Kigali (BK) ,has entered into a partnership with Xpress Money, the world’s fastest growing instant money transfer brands. The partnership will enable the bank’s clients to transfer and receive money not only in the banks’ 56 branches countrywide, but will as well access the services worldwide.