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East African trade and investment news

Investing in women benefits all – First Lady Jeannette Kagame

Published on March 23, 2017

Removing all barriers that block the full participation in the economy will not only empower more women, but will also play a significant role in closing the gender gap and boost the economy, the First Lady, Mrs Jeannette Kagame, has said.

Speaking at the launch of ‘SheTrades’ Initiative at the Kigali Convention Centre, yesterday, Mrs Kagame told participants that to deal with some of the challenges that deter women from advancing, the government of Rwanda has adopted a practical grassroots-based economic solution by introducing pro-poor economic initiatives. Read more. Source | NewTimes.

Rwanda eyes cross-border markets to enhance exports

Published on March 23, 2017

The Government is looking to cross-border markets planned at key border areas to improve trade and Rwanda’s exports to the region.

According to James Tayebwa, the in charge of regional integration (cross-border trade) at Ministry of Trade, Industry and East African Community Affairs, a total of eight cross-border markets will be constructed by the government at different crossing points to facilitate trade between Rwanda and neighbouring countries – DR Congo, Burundi, Uganda and Tanzania.

Tayebwa was giving an update on the ongoing works of the Rubavu Cross-border Market that is being built by government and TradeMark East Africa. Funds for Nyamasheke, Kagitumba and Rusumo cross-border markets have also been secured and construction is expected to start in August, according Tayebwa. Read more. Source | NewTimes 

Private sector to drive Rwanda’s growth, says World Bank chief

Published on March 23, 2017

World Bank president Jim Yong Kim has said that Rwanda’s approach to encourage private sector investment is a sure way to build resilience and maintain growth.

Kim was speaking to the press at Village Urugwiro following his meeting with President Paul Kagame yesterday.

The two spoke at length about Rwanda’s development progress as well as the utilisation and impact of the bank’s funds in the country.

At a time when a section of countries are wary of what proposed budget cuts by the US administration could mean for their growth and economic stability, Kim said Rwanda’s approach has resilience and will maintain growth. Read more. Source | Newtimes

Accelerating Gender Equality and Women’s Empowerment in Africa

Published on March 23, 2017

This Report analyses the political, economic, and social drivers that hamper African women’s advancements and proposes policies and concrete actions to close the still existing gender gap.

The main objectives of the official launch of the Africa Human Development Report 2016 in Rwanda are to present and discuss the report’s key findings and recommendations; to increase stakeholders’ awareness of gender equality and women’s empowerment issues and to discuss achievements, lessons learned and gaps to be addressed in the Rwandan context. Read more. Source | Rwanda News Agency

World Bank Group Announces Record $57 Billion for Sub-Saharan Africa

Published on March 23, 2017

The bulk of the financing – $45 billion – will come from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries. The financing for Sub-Saharan Africa also will include an estimated $8 billion in private sector investments from the International Finance Corporation (IFC), a private sector arm of the Bank Group, and $4 billion in financing from International Bank for Reconstruction and Development, its non-concessional public sector arm. Read more. Source | Rwanda News Agency

Rwanda’s exports to EA rise 31pc

Published on March 22, 2017

Rwanda's exports to the East African Community member states have grown by 31.1 per cent in value, boosted by growing fuel re-exports to Burundi.

However, the country’s imports from the region still outweigh its exports. Rwanda’s exports to the EAC increased to $157.52 million in 2016 from $120.15 million in 2015. “The growth trajectory is going to be sustained in the near and mid-term future as non-tariff barriers are removed and countries enforce free trade protocols,” said Francois Kanimba, Trade, Industry and East Africa Community. Read more. Source | East African

EAC’s landlocked country reveals ease of doing business in Business Forum

Published on March 21, 2017

Close to 100 Kenyan business tycoon honored an invite by the Rwandan High Commission to Kenya with their presence in Nairobi when they attended the business forum on Wednesday.

Rwandan High Commission to Kenya was in the country with an aim of presenting business and investment opportunities available in Rwanda.

Speaking at the forum, Rwanda’s High Commissioner to Kenya, James Kimonyo, said that the event is an opportunity to showcase what Rwanda has done to create an attractive environment which made the country a favourable investment destination in the region. Read more. Source | The Exchange

Initiative to support innovative young entrepreneurs unveiled

Published on March 20, 2017

Enterprising and innovative young Rwandans have an opportunity to secure funding to implement or expand their business ideas thanks to a new initiative by Airtel Rwanda and UNICEF. The two organisations say the project, dubbed ‘Pitch Night’, seeks to bring voices and ideas of Rwanda’s young people to the forefront of development discussions and promote the innovation ecosystem.

According to Ted Maly, the United Nations International Children’s Emergency Fund (UNICEF) representative in Rwanda, the joint initiative will link young entrepreneurs below 25 years of age and prospective investors, partners and the government, as well encourage young people to develop solutions for existing challenges in communities. Read more. Source | New Times

Parliament to host two-day Agoa exhibition

Published on March 20, 2017

Speaker Rebecca Kadaga has said Parliament will next month invite Ugandans from different parts of the country to exhibit their traditional fashions.

Speaking to journalists at the Italian ambassador’s residence last week, Ms Kadaga said Ugandans need to be encouraged to start consuming locally made goods to support local manufacturers rather than spending money on foreign goods.She added that the US Agoa delegation will be in Parliament on April 10 and 11 to show Ugandans what they want and how they can enter the market because there are many good things in Uganda which Ugandans themselves are ignorant of. Read more. Source | Daily Monitor

Rwanda unveils new incentives for Kenyan business investors

Published on March 16, 2017

Rwandan High Commissioner to Kenya H.E James Kimonyo has unveiled new incentives to Kenya businesses wishing to establish or grow business in the country. “With just 12 per cent of inter-country trade among African nations there is so much opportunity and room for growth between us,” he said at the second edition of the Rwanda Business Forum at a Nairobi Hotel.

The envoy unveiled new incentives to investors planning to invest in the country that together with Kenya are among the top ten fastest growing economies in the World. Read more. Source | Standard Digital