Africa Economic News Update Filed in: africa, rwanda, fdi, economic growth
Analysts Raise Expectations for Economic Growth in Sub-Saharan Africa, Though Commodity Prices Pose Threat for Future, International Business Times Economic growth in sub-Saharan Africa is expected to rise this year and reach 5.4 percent in 2016, far outpacing the global 3.8 percent. Taken as a whole, the continent of Africa is...
African Economy Slows, Rwanda’s Economy Resilient Filed in: economic growth, rwanda
The Wall Street Journal reports that Africa’s overall growth rate will slow to 4 percent from its historic 4.4 percent. The stall, according to the journal, is due to the fall in oil prices as well as slowed growth in the developed world and in China. Africa’s economic...
Rwanda’s Tech Advances Support Entrepreneurs Filed in: smes, sme, carnegie mellon university, tech, rwanda, ict, entrepreneurs, tech entrepreneurs
Rwanda recently won the Global Telecom Business Innovation Award for its innovative business model in providing internet access to the country through a public private partnership. South Korea’s largest telecommunications provider, Korea Telecoms, partnered with the Government of Rwanda to launch a 4G network in the country. Korea...
World-Class African Entrepreneurs Filed in: entrepreneurship, entrepreneurs
Senegalese entrepreneur Magette Wade believes that African entrepreneurs should aspire to build world-class businesses, and that financiers should expect the same from them. Wade is the founder and CEO of Toissan, an all-natural skin care brand. Her first business, Adina World Beat Beverages, raised more than $30 million of venture capital...
Africa’s Angel Group Filed in: angel investment, investment, medium-sized enterprise
U.S.-based Renew Strategies is an impact-oriented angel group focused on bringing capital to scalable medium-sized companies across Africa. Right now the firm has three Ethiopian companies in its portfolio and is looking to expand. To date the firm has raised $about 2 million, according to the Washington Post. Although...
Former Barclays CEO Invests in Rwanda Banking Sector Filed in: fdi, investment, banking, finance, rwanda
The London Evening Standard reports that former Barclays CEO Bob Diamond will invest $22.5 million in Banque Populaire Rwanda through his African banking venture Atlas Mara. The investment will give the firm a 45% stake in the bank, which Atlas Mara then plans to merge with BRD Commercial Bank of Rwanda. The...
Kate Spade & Company launches Rwandan-made collection Filed in: rwanda, fdi, entrepreneurs, fashion industry
Global fashionista Kate Spade has launched a collection of products handcrafted by Rwandan artisans. The line of products—called On Purpose—is intended to help a group of 150 women in Masoro, Rwanda to become a profitable supplier to all Kate Spade & Company brands. Watch the videos...
Fitch Upgrades Rwanda to “B+” with a Stable Outlook Filed in: economic growth, investment, development, rwanda
Fitch Ratings upgraded Rwanda to 'B+' from a 'B' rating it had given the East African country earlier in 2015, according to CNBC Africa. According to Fitch, there were two reasons for the upgrade. The first is Rwanda's track record of "prudent and coherent fiscal and monetary policy." The...
Kenya’s Equity Bank Cross-Lists on the Rwanda Stock Exchange Filed in: investment, rwanda, kenya, finance
Rwanda's six-company stock exchanged doubled its value by cross-listing Kenya's Equity Bank. With a market cap over $2 billion, the bank is now the largest company listed on the exchange. “Cross-listing is important because it gives Rwandans an opportunity to participate in the progress of their bank,...
Rwanda to Earn $860 Million from Tourism by 2016 Filed in: rwanda, tourism
The Rwanda Development Board (RDB) recently announced its plan to increase the country’s tourism revenues to $860 million from last year’s $293 million. According to Ventures Africa, Rwanda has enjoyed a spike in tourism in the past decade so much so that the industry is one of the...