The Social Democratic Party (PSD) takes its electoral campaign to Rubavu, Nyanza, Nyagatare, and Musanze districts, on Saturday, June 29. This follows the party’s drive in Bugesera on June 22, and Kamonyi on June 23, to sway the electorate to give it votes for its parliamentary candidates to get seats in the Chamber of Deputies in the July 2024 polls. Information from the Party shows that after June 23, it was campaigning by use of social media and radio means. ALSO READ: PSD pledges to cut VAT to 14% as electoral campaigns kick off Among other pledges it made at the Bugesera and Kamonyi campaign rallies, PSD promised to advocate for lowering value-added tax (VAT) to 14 per cent from the current 18 per cent, a move it stated would increase people’s purchasing power, lower the cost of living, and stimulate economic growth through increased consumer spending. Its other campaign promises include pushing for cutting of interest rates charged on agriculture loans to 10 per cent. Interest rates on bank loans vary, but the report of the National Bank of Rwanda (NBR) – the financial sector regulator – for the fiscal year 2022/2023 shows that it averaged 16.31 per cent in that year under review. According to NBR, Umurenge Savings and Credit Cooperatives (SACCOs) which are financial institutions generally closer to the people – as they are currently present in all of 416 sectors of the country – charge up to 24 per cent interest rates on their loans. According to the National Electoral Commission (NEC), 589 candidates are vying for the 80 parliamentary seats in the Chamber of Deputies. There are 345 candidates who are contesting for 53 seats reserved for contenders from political organisations and independent candidates. PSD fielded 59 candidates for parliamentary elections. The remaining 27 seats in the lower house are reserved for special interest groups; women (with 24 seats), youth (two), and people with disabilities (one). While on its campaign trail, PSD which is in the RPF-led coalition is also appealing to the electorate to re-elect incumbent President Paul Kagame in the July 2024 elections.
