RwandAir and Qatar Airways ink a milestone codeshare agreement

RWANDA – RwandAir and Qatar Airways have signed a comprehensive codeshare agreement to offer travelers more choice, enhanced service, and greater connectivity to more than 65 destinations across Africa and the rest of the world. As part of the deal, the Rwandan flag carrier will also launch new non-stop flights between their Kigali hub and Doha in December 2021. The agreement benefits travelers from across the globe who fly with both airlines, which expands each carrier’s route network. Customers can enjoy the simplicity of buying connecting flights on both airlines…

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Rwanda Coding Academy receives US$7.1m support from Koica

RWANDA – The Korea International Cooperation Agency (KOICA) has signed a Record of Discussion (R/D) with the Ministry of Finance and Economic Planning and the Ministry of Education for the implementation of the Rwanda Coding Academy (RCA) Capacity Development Project worth US$ 7.1 million. The Government of Rwanda will provide the counterpart funding of US$ 800,000 for the project, making the total value of project US$ 7.9 million. The signing ceremony was virtually held in observance of the current health measures to prevent the spread of COVID-19 and the R/D…

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Beyond Capital Ventures makes its maiden investment in health tech startup Viebeg Technologies

RWANDA – Newly launched impact venture capital firm Beyond Capital Ventures has announced its first investment in Viebeg Technologies, a health tech startup that deploys technology to offer medical supplies of high-quality medical supplies and equipment throughout Central and East Africa through an innovative data-driven procurement platform. Beyond Capital Ventures joins its co-investment partners Beyond Capital Fund and Eckenstein Geigy Stiftung in Viebeg’s pre-seed funding round. Beyond Capital Ventures General Partner Eva Yazhari will join Viebeg’s Board of Directors. Viebeg Technologies was founded in 2018 by Chief Executive Officer Tobias…

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Rwanda and Luxembourg launch waste recycling project in Kigali

RWANDA – The government of Rwanda and Luxembourg have launched a waste recycling and management project that will recycle, improve city solid waste control and hazardous waste management in Kigali city. Codenamed “Waste to Resources”, the three-year project aims at adopting integrated sustainable waste management methods including waste segregation, transfer, sorting, treatment, recovery, and disposal, in an integrated manner and business models to increase the capacity of the waste management system. The launch of the waste to resource project follows Memorandum Of Understanding (MoU) signed between the Ministry of Environment…

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KCB Group completes acquisition of Banque Populaire du Rwanda

RWANDA – KCB Group Plc has completed the purchase of a majority stake in Banque Populaire du Rwanda Plc (BPR) after acquiring shares previously owned by Arise B.V and Mauritius-based Atlas Mara Limited. The transaction has already received the necessary approvals in Kenya and Rwanda, removing the last hurdle in the acquisition process. KCB acquisition becomes effective from 25th August 2021 This now makes the Kenyan lender the majority shareholder in BPR with effect from 25th August 2021. According to KCB Group Chief Executive Officer and Managing Director, Joshua Oigara,…

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IFC, Rwanda Capital Markets Authority and Central Bank partner to boost access to long-term finance for SMEs

RWANDA – To support the development of Rwanda’s capital markets, IFC, the National Bank of Rwanda and Rwanda’s Capital Markets Authority (CMA) have announced a four-year partnership that will help expand access to long-term local currency finance in Rwanda for key sectors such as housing, agribusiness, and smaller businesses. Liquid, diverse and well-regulated local capital markets are an essential source of local-currency financing for the government, financial sector participants, and end-users such as small businesses. Under the Rwanda Capital Market Development project, IFC will advise the National Bank of Rwanda,…

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RwandAir and Qatar Airways sign interline agreement

RWANDA – Qatar Airways has signed a new partnership with Rwanda’s flag carrier, RwandAir via their hubs at Doha and Kigali. As a part of the strategic partnership, the extensive interline agreement will give customers access to the networks of both airlines. Akbar Al-Baker, Qatar Airways Group chief executive, said, “Africa is a hugely important market for us and this latest partnership will help support the recovery of international air travel and offer unrivaled connectivity to and from a number of new African destinations.” On the other side, Yvonne Makolo,…

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AFSIA launches second edition of Solar Awards

RWANDA – The African Solar Industry Association (AFSIA) in partnership with Africa Energy Forum (AEF), is launching a call for entries for the second edition of the AFSIA Solar Awards. The competition is organized to honor the excellence of all solar industry professionals for their activities and contribution to electrification. The AFSIA Solar Awards are organized by the African Solar Industry Association (AFSIA) as part of the Africa Energy Forum (AEF) and is the solar industry’s premier awards ceremony, recognizing major players and successes in the African solar market. This…

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Private equity fund Kibo Capital Partners sells its stake in I&M Bank Rwanda

RWANDA – Private equity fund Kibo Capital Partners, the Mauritius-based private equity fund, has sold its shares in I&M Rwanda to Egide Gatera, a business magnate, assisted by Enexus Finance. Established in 1963 as Banque Commerciale du Rwanda and bought by I&M Group in 2012, I&M Rwanda is considered the second largest bank in Rwanda. With this investment, Gatera indirectly becomes the third-largest shareholder of I&M Rwanda, after I&M Group and Africinvest. Gatera, a prominent business tycoon in Rwanda, owns a chain of companies with interests in agribusiness, finance and…

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Rwanda selected to host continental headquarters of the AeTrade group

RWANDA – The African Electronic Trade Group (the A-eTrade Group) which also includes the African e-Commerce Development International, has announced that it has accepted the offer of the Government of Rwanda to host the continental headquarters. The announcement is one of the significant events of the Second Africa Integration Day and this follows the last announcement exactly two years ago in Niger, Niamey when the Kingdom of Eswatini and the Republic of Guinea were awarded the regional headquarters for Southern Africa and West Africa respectively bringing the total number of…

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