Standard and Poor’s (S&P) Global Ratings has raised its long-term sovereign credit rating on Rwanda to ‘B+’ from ‘B’. The outlook is stable. At the same time, it affirmed its short-term sovereign credit rating at ‘B’. We also revised the transfer and convertibility (T&C) assessment to ‘B+’ from ‘B’, the rating agency said in a […]
Rwanda plans to build at least 2,000 affordable housing units, under a joint venture between Shelter Afrique, a pan-African housing finance institution, and the Development Bank of Rwanda (BRD). The project, worth $131 million, is developed by Rugarama Park Estate and Remote Group. It will have public parks, community buildings, shops and a market place. […]
Morocco and Rwanda signed a memorandum of understanding to cooperate in fields relating to nuclear and radiological safety. The agreement was signed in Kigali last week between Morocco’s Agency for Nuclear and Radiological Safety and the Rwanda Utilities Regulatory Authority (RURA). Under the agreement the two parties shall exchange information and experiences in terms of […]
The government of Rwanda has signed a concessional loan agreement with The Arab Bank for Economic Development in Africa (BADEA) to finance rural electrification project in Nyamagabe and Nyaruguru Districts in the East African nation. The US$ 20 million loan will be dedicated for the supply and construction of distribution networks and meters and service […]
French investigative magistrates have dropped charges against nine Rwandan officials investigated over the death of the country’s president in 1998. French judges have dropped the long-running investigation into the shooting down of a plane carrying the former Rwandan President Juvenal Habyarimana. A judge accused Tutsi rebels, led by the current president, Paul Kagame, of the […]
The European Investment Bank has formally agreed a total of €495 million of new financing for three projects to support sustainable transport, clean energy and internet access projects in North, West and East Africa. The three projects, signed at the summit attended by heads of state and government from across Africa and Europe, earlier this […]
Morocco has achieved new continental acclaim for mechatronics and cooking through OFPPT students. Actually, three students of the Moroccan Office of Professional Training and Promotion of Work (OFPPT) have won gold medals at the WorldSkills Kigali Africa 2018 competition held on November 20-23, in Rwanda. The event brought competitors from Ghana, Kenya, Liberia, […]
Rwanda’s economy is expected to grow by 7.2 percent this year the International Monetary Fund (IMF) said. According to the Washington-based lender, growth averaged 8.6 percent in the first half of 2018 and, despite a temporary deceleration in the second quarter, it remains in line with projections for 7.2 percent for the year. The projected […]
MTN Group Ltd.’s Rwanda unit has signed a$56.20 million (50 billion francs) loan with eight local banks. MTN Rwanda, which had close to 4.5 million subscribers in September, said the loan is earmarked for a capital expenditure program for the next two years targeting expansion and modernization of the network and related IT systems. Diatile […]
Secretary of State Mike Pompeo has announced the appointment of Peter Pham as the U.S. special envoy for Africa’s Great Lakes Region. According to a State Department’s statement, Peter Pham, director of the Africa Center at the Atlantic Council think tank, will coordinate U.S. policy in the region, with an emphasis on strengthening democratic institutions. […]
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