Rwanda Working to Improve Financial Literacy

The government of Rwanda says that it is aware of the big problem of a lack of financial know how among small and medium entrepreneurs. The challenge has led to many of the entrepreneurs loosing on opportunities to access financial assistance when such chances arise. Trade and industry Minister Francois Kanimba says that there is a major plan in the pipeline to help address this issue.

" There is an operation to be implemented this year supported by the Access to finance Rwanda project-this is a project supported by DFID to implement a financial literacy program. I’m sure this program will contribute a great deal to inform the people even to educate them about the opportunity they have when they start working with financial institutions, so the program is underway."

 

Another problem that Kanimba says is being worked on is the challenge of the low levels of banked population of the SMEs. According to a FINSCOPE survey done in 2008, only 14 percent or 518,423 people of the adult population were banked. 

" But my belief that this number has dramatically changed the last 3  years, we don’t have yet an updated survey but I’m sure this indicator is growing fast taking into account a number of considerations, for example, since the time Bank Populaire has been transformed into a fully fledged commercial bank, we have seen the number of bank accounts increasing by more that 30% but also the coming in of a number of micro-finance banks like Urwego Opportunity bank and the fast growth of some big micro-finance banks who are outreaching people in rural areas, someone should be expecting now the number of banked people to have moved far higher that 25% by the time being."

FinScope, a FinMark Trust initiative, is a nationally representative study of consumers' perceptions on financial services and issues, which creates insight

Babies Get Vaccine Against AIDS

The first Kenyan infants to take part in an Aids vaccine trial have been vaccinated and are being observed to see how their immune systems respond to a new formula that has excited the global science community.

Doctors at the Kenya Aids Vaccine Initiative (Kavi) are conducting a study on the vaccine that is billed to have the most advanced vaccine design ever tested.Forty infants have so far been involved in the Aids vaccine trials, which started two months ago, and the results of the trials are expected in June 2012.

Of those vaccinated so far, 20 received the Aids vaccine plus other vaccines normally administered to infants, while another 20 in the control group received the usual vaccines without the Aids vaccine.

The infants, the youngest volunteers to an HIV vaccine trial in the country, will provide crucial data on whether the Aids vaccine, if proved effective, produces better results when given to a person at infant stage. The babies will also provide data on the vaccine’s safety in newborns.

If the vaccine, known as Modified Vaccine Ankara (MVA), is proved to be effective in subsequent clinical trials, it is going to be given to all children after birth, the same way infants are given anti-tuberculosis vaccines at birth

Sezibera's Work Cut Out at EAC

Dr. Richard Sezibera, the medical doctor picked to head the East African Community, has assumed office today.

The new EAC secretary General takes office with a heavy dose of pending agenda to deal with. Dr. Sezibera, who replaced Juma Mwapachu, is expected to preside over a high-level regional symposium in Arusha from Wednesday that has been called to assess the progress made so far in the integration process. 

His appointment may have ended months of debate over the region’s top civil service job in a tussle that according to media reports seemed like a tussle between Rwanda and Kenya, but it is what awaits the Rwanda Health Minister that is drawing more focus. 

Picking the tab from Mwapachu — a man who will be remembered for spearheading the establishment of the EAC Customs Union and the Common Market — Dr Sezibera will have his job cut out and he seems to know really well what lies ahead as challenges. 
 

However Dr. Sezibera who was speaking exclusively on Contact FM's Crossfire this past Sunday, said that there was need for concerted effort in all partner states and organs of the East African community in implementing all the protocols agreed upon.

Dr Sezibera will oversee the next facets of integration — the Monetary Union and the ultimate Political Federation.