As part of the 10th anniversary celebration, Rwanda Revenue Authority (RRA) is planning to hold a schools’ tax competition.

The fifth competition is to instill taxpaying culture into the young generation. It is also intended to act as a proactive mobilisation of the education sector to introduce the taxation topic in schools.

According to Annette Birungi, the tax body’s publicist, over 40 students from 10 Kigali schools will be interviewed in groups of four about taxation issues in general.

Each winner will then be given a one-year bursary. The programme follows government’s request to introduce taxation subject on the school syllabus. Earlier this year, RRA partnered with Ministry of Education to train thousands of teachers on the role of taxation.

Infrastructure, customs union priority in EAC budget

More money has been allocated to the planning and infrastructure directorate in the East African Community (EAC) 2008/09 revised Budget.

Earlier, the East African Legislative Assembly (EALA) had rejected passing the budget claiming, it was not supportive to key development strategies of the bloc. These were planning, infrastructure, customs union among others.

The revised budget passed by EALA last week in Arusha allocates more $2.8 million to planning and infrastructure – representing 57 per cent increase compared to last years.

Last year, the funds allocated were $2,152,276 unlike this year at $5,024,865. Customs and trade directorate has received more $2.2 million increasing the budget from $1.532,733 to $3,371,886 this year.

This is a 60 per cent increase in funding. The total budget of $40 billion is funded by the five member states; Rwanda, Burundi, Tanzania, Kenya and Uganda. 

Rwandan leather industry to set export leather

Rwanda Leather Industry, a hides and skin processing company, is to start exporting crust and finished leather by August.

The development comes after new machines were imported to process the leather. The machines will process from wet blue to crust and to finished products.

Gitau Wamukui, the company’s Chief Executive Officer (CEO), said the machine from Italy will have a production capacity of 10,000 pieces of hides and 25,000 of animal skins monthly.

He said a machine to help in the production high quality leather, has delayed to be delivered but expected soon. However, other machines are ready for installation.

Niyamathulla Jalal, a quality control and production expert, has been hired from India to train staff. Currently, the Rwandan wet blue is exported to India, China, Hong Kong, Kenya, and Italy.

Italy as the best buyer is helping the leather industry penetrate the European markets.

1000s attracted for the EAC investment conference

Hundreds of business executives allover the world registered for the first ever East African Community Investment Conference.

According to Francis Gatare, the Director General Rwanda Investment and Export Promotions Agency, more than 700 foreign business executives and over 200 locals registered.

He continued that the target had been 700 business executives but more had registered – forcing to stop the process of registering the local participants.

RIEPA, the East African Community Secretariat and Regional Investment Promotion Agencies (IPAs) organised the conference.

The theme was: "Leveraging the East African Market through Trade and Investment”.

Aclaim Africa urged to sell shares to Rwandans

State Minister for Industry and Investment Promotion has asked managers of Aclaim Africa, a management consultancy and training firm based in Uganda, to open a branch here.

Minister Vincent Karega, also said that if a branch is opened, Aclaim should consider floating shares on Rwanda Over the Counter (OTC) Market for Rwandans to buy shares.

He argued that the deal would increase the firm’s capital base and business returns as there are many Rwandans in need of their services.

"We are willing to facilitate and lay a red carpet for you,” he said.

Aclaim is the brain behind the African Management Forum (AMF), a forum where African Chief Executive Officers (CEOs), top management and other business leaders share experiences.

AMF members addressed the private sector at Serena Hotel on Wednesday. They were invited to the country by the Private Sector Foundation (PSF) Secretariat.

Ends