Rwanda: Latest News
Kevin Mwanza, 5:04 am
Results of a referendum in the United Kingdom on Thursday to leave the European Union shocked markets across the globe, with over $2 trillion wipe out in a single day. African economies were not spared the volatility that the Brexit vote caused on different asset classes. Currencies, stocks and bonds plunged across the continent after the UK’s vote to leave. Africa’s largest economies – that have been struggling with commodity prices rout – were the most affected
Staff, 12:02 am
You’d be hard pressed to find a country in the world that has cheaper labor than Ethiopia. However, manufacturing as a share of GDP in Ethiopia is 5 percent, well below the African average of 10 percent. The country also scores below the African average on diversification, export competitiveness, productivity and tech upgrading. Despite this, it’s not a long shot to predict that Ethiopia will soon catch up with countries like China and Vietnam in some low-tech manufacturing industries. These are industries for which labor costs are very important. Beyond these obvious industries, there are reasons to believe Ethiopia might be on the right track to catch up with more advanced economies.
Dana Sanchez, 6:31 pm
Elon Musk challenges traditional business models. For years, fans and investors bought into his unconventional approach to corporate finance. Now some are wary of his latest plan — to buy the ailing U.S. solar energy provider, SolarCity, and sync it with Tesla Motors, which is also bleeding money. In Africa, where electricity access is one of the most pressing problems for businesses, a solar energy company backed by SolarCity is expanding from providing solar kits for homes to offering it for small businesses.
Dana Sanchez, 5:23 pm
DRC responds to illegal rebel activities such as smuggling and poaching, but little is done to stop the illegal charcoal trade deforesting Virunga, Africa’s oldest national park. Millions of households depend on charcoal as their main fuel source. Any efforts to end the illegal charcoal trade and save the forests must be backed by alternative fuels. The carbon-intensive systems now driving economic growth have taken the world to an environmental tipping point. Africa is being asked to lead the transition to avert a disaster.
Staff, 12:10 am
Kenya, Tanzania and Uganda have hinted that they could open up soon to the use of GMO seeds to increase crop yields. Rwanda says it will not lift a ban on GMOs despite a sharp decline in its crop yields in the face of erratic weather patterns and diseases that affect maize crops. The contribution of agriculture to the gross domestic product of Rwanda has declined in recent years from 35 percent in 2012 to about 33 percent in 2015.
Staff, 3:17 am
The number of mobile subscribers in Rwanda decreased by 0.04 percent to 8.80 million in April from 8.89 million in the previous month, according to the Rwanda Utilities Regulatory Authority (RURA). MTN Rwanda’s customers fell to 3.98 million in April from 4.01 million in March, continuing the negative trend since the year started, New Times reported. Tigo’s active SIM cards dropped to 3.09 million in April from 3.12 million in March.
Keren Mikva, 11:44 am
The Tutsi are often associated with the horrific events of the 1994 Rwandan genocide, known officially as the genocide against the Tutsi. The richness and diversity of Tutsi culture is less well known. The Tutsi and Hutu people were mainly friendly until European colonization. The Tutsi dominated the region beginning in the 14th century, but established friendly relations with the Hutu in feudal relationships owing to their vast cattle herds and warfare knowledge. With the colonial period in the late 1800s, favorable treatment of one group over another intensified animosities.
Kevin Mwanza, 7:03 am
Rwanda does not have any known oil or gas deposits, but the tiny landlocked East African nation has just passed its national petroleum law that will guide investments and exploration in oil. Located in the middle of Kenya, Uganda, Tanzania and the Democratic Republic of Congo (DRC), all of which have discovered oil or gas in the last few years, there is a high likelihood that Rwanda too could also be holding some undiscovered deposits.
Dana Sanchez, 6:45 pm
The informal sector contributes about 55 percent of sub-Saharan Africa’s GDP, but it doesn’t pay taxes. East African governments will be charging more taxes in the informal sectors as they seek to accelerate growth. No politician ever got popular by creating new taxpayers. Alongside the many development challenges facing African countries, few governments want to run the risk of increasing taxes.
Lillian Mutiso, 5:49 am AFKI Original
Africa has one of the highest levels of unemployment in the world. Since 2000, more than 27,000 Africans have died while trying to illegally enter Europe via the sea. The search for jobs and an escape from high levels of poverty across the continent is a major motivation. Though unemployment in some African nations reportedly remains higher than 25 percent, general numbers are improving, and many believe that emerging economies in Africa are set to expand rapidly in the coming years.
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