BUSINESS ROUND-UP

SSFR told to venture into housing schemes The Social Security Fund of Rwanda (SSFR) has been urged to venture into housing, as a way of investing savings to allow Rwandans own an asset in their homeland. The scheme proposed to be called the, ‘Home Ownership Scheme,’ according to the ‘Actuarial Consulting Group’ (ACG), may prove to be one of the most valuable investments in their lifetime. Actuarial Consulting Group’ (ACG), is a Singapore based company which was contracted to carry out a study in December 2007 to determine the SSFR’s funding status and whether it is financially sustainable. The findings are also expected to guide the institution in its modernisation process. The report partly read, “As a whole, home ownership should help in the overall social, political and economic stability of the country. However, it appears that the current prices on homes built by the pension body are misaligned with the income of most SSFR members making home ownership out of reach for majority of its members.” According to findings there is an increased demand of housing in Rwanda far exceeding the rate of supply especially in the major cities. It was estimated that Kigali is in need of over 100,000 housing units each year. Quoting the Financial Sector Development Programmes Draft Report for 2007, if not addressed, the trend is expected to continue into the foreseeable future. EU aids tea farmers with equipment worth Rwf28m The European Union (EU) donated office and transport equipment worth Rwf28 million to nine local tea farming cooperatives. The equipments distributed included laptops, desktops, two motor cycles and nine photocopy machines all expected to boost production through high level service delivery. Anthony Butera, Director General of Ocir-The said that the support will enhance capacity among the farmers, administration and cooperatives and help provide better services to the people. Ocir-The is Rwanda’s Tea authority responsible for overseeing the development of the tea sector in the country. Gender gets nod in national budgeting National consultations on Gender Responsive Budgeting (GRB) and Aid effectiveness have been launched. This is to ensure that gender budgeting is considered in national planning and in the future budgeting process. This follows bold commitments made at the launch of the Gender Responsive Programme (GRP) last year. GRP will be implemented to improve accountability of government towards gender equality, women’s rights and empowerment with international commitments like the Millennium Development Goals (MDGs) and the UN Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). The two-day consultation meetings of different stakeholders comprised of development partners, line ministries, district authorities and civil society and other public institutions. Dr. Jeanne d’Arc Mujawamariya, the Minister of Gender and Family promotion, said that while gender budgeting is a relatively new concept, it is one which can reap great benefits for men and women in Rwanda. Rwf12b investment in fishing to yield 20,000 tonnes by 2012 Rwanda’s fishing sector has set aside a tune of Rwf12 billion worth of investments over a period of six years to produce 20,000 tonnes of fish by 2012. It is said that the money has been secured from the African Development Bank (ADB). Gregoire Dusabemungu, The Project Coordinator, said that the production of fish has been registering a steady increase due to government programmes geared at protecting and conserving lakes as well as controlling soil erosion in the last few years. Fish rearing has been an alternative source to increase production. There are now over 1,200 fish ponds which industry pundits want to increase to 8,000 ponds by 2011. Between the years 2003 and 2004, 7,400 tonnes of fish were realised while between 2007 and 2008, 8,300 and 11,000 tonnes were got respectively. This year it is estimated that 13,500 tonnes will be realised though the amount is far less than what is actually needed. MTN ‘Home and Away’ package revised MTN Rwanda and its roaming partners have revised their mode of charging under the ‘Home and Away’ package. According to the company, the revision of the rates will not necessarily affect the tariffs once subscribers cross borders. Andrew Rugege, Chief Operating Officer (COO), said, “If somebody from Kenya is visiting Rwanda, they will still use their Safaricom number but will use the prevailing tariff in Rwanda.” Previously, subscribers on ‘Home and Away’ would be charged using local tariffs in their country’s of origin. He also added that the modification of the rates will make it possible for the partners to retain their subscribers. Nyabihu cooperative to boost potato production A farmers’ cooperative in Nyabihu district, Western Province is planning to increase potato production from 806 tonnes to 1,210 tonnes. The grant worth USD 92,000 equivalent to Rwf52m is to fund the expansion of potato production for a larger market and will see an increase of 33 percent within 18 months. The grant agreement signed with the United States African Development Foundation (USADF) is to support economic development in Rwanda, according to a press statement from USADF. This follows Coopérative des Agriculteurs de la Culture de Pomme de Terre de Karago ‘s hiring of a technical assistant to develop a five year business plan. The grant will help farmers to acquire training and a stock of new seed varieties, fertilizer, fungicides, hoes and packaging materials. It will also acquire a better storage facility. The cooperative will benefit more than 363 people, 71 percent of whom are widows. Ends