Rwanda Declared to be a Manageable Risk

Rwanda has been rated as a country with manageable risk according to a survey released at the end of May by Strategico, a French organization that handles risk organization. Strategico looks at some specific factors such as arms and politics, economic issues such as the budget and financial stability, population issues, religion and social issues such as development, education, freedom of speech and so on. 

The organization concentrates specifically on African countries; it has noted Benin and Cote D’ivoire as the countries whose risk has reduced. Burkina faso’s situation especially politically has been termed as tense since after the elections there have been a series of protests and mutinies, Guinea has also been associated with risk as Conde is said to be scaring investors and the opposition while closer home in Uganda-the tense political situation and frequent protests have also made the country be taken as experiencing a high risk.

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

Sean Kingston to Confirm Rwandan Tour Next Week

JamaNext week, that’s when the Jamaican born American singer Sean Kingston will officially announce whether or not he will attend the Guma Guma superstar final concert. The artist who was set to have the final concert in Kigali in July remains hospitalized in Miami while recovering from injuries suffered in a scary Jet Ski accident on Sunday, he is said to spend six weeks on the hospital bed according to his representative. 

Sean Kingston suffered a broken jaw and wrist and got water in his lungs after he and the female passenger riding with him crashed into Palm Island Bridge. Reports reaching us say that Sean Kingston still has a breathing tube in his mouth so he can't talk and he's awake and alert in his hospital bed. He has so far canceled his July 7 concert at Lincoln-Way Central High School, in Miami USA.

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.