Business round-up

Rwandans train in agriculture techniquesAs a measure towards bridging the knowledge gap and increase efficiency and production in the agriculture sector, 48 Rwandans were trained in agricultural techniques. The group covered different areas that include mushroom growing, soil erosion prevention, upland rice and sericulture with in the two week train. The Director of Rwanda Agricultural Technology Demonstration Centre (RATDC), Prof. Lin Zhanxi, said the programme aimed at improving lives in rural areas. He said that there should be new seeds and new technology that increase production, more efficiency and giving more nutritional food to rural farmers. Prof. Zhanxi said that about 600 technicians and 3000 farmers will be trained in three weeks RSE bullish as Bralirwa announces record earningsBralirwa reported its last year’s performance with net income growing by 62.8 percent. The score beat analyst’s expectation, generating confidence on the Rwanda Stock Exchange (RSE) ahead of this years listing. The company`s net profits rose to Rwf10.3 billion in 2010, up from Rwf6.34 billion in 20009, according to its annual report for the financial year December 31, 2010. Company directors proposed the company should offer 100 percent of its net profit to shareholders in dividends. Celestin Rwabukumba, the Operations Manager noted that by any standard, the development was good for a company in expansion saying it was beyond expectation. He added that response from the market is positive as investors were bargaining for the best deals based on the anticipation of dividends. RSE said that the overall Bralirwa shares rose by 11.2 percent in value, one of the highest rises in the brewery’s share prices since its January 31, 2011 debut in the stock exchange. Bralirwa to issue dividends worth Rfw10bThe Director of Bralirwa proposed the company would offer 100 percent of its net earnings for last year as dividends.The Chief Executive Officer (CEO) of the company, Sven- Erik Piederiet, said that the company’s net profit grew by 62.8 percent to Rwf10.3 billion. He attributed the growth to robust operating profit growth, lower interest expenditure and lower income tax outlay. He said the board of directors recommended that the net profits accrued in the last financial year be proffered as dividends to shareholders. He underscored the company was not shaken by the launch of a local competitor, Skol, as well as the emergence of regional brands on the Rwandan market. Singaporean firm acquires 66% stake in MagerwaPortek International, a Singaporean firm, acquired a stake in the National Bonded warehouse, Magerwa. It promised to invest US$10m to expand its supply chain in the region. The Managing Director of Magerwa, Lambart Nyoni, said the firm is expected to upgrade the handling and warehousing industry as well as diversifying to add value to Magerwa’s business. He noted that this will improve Magerwa`s revenue that was dropping. The Singaporean company will buy 6.25 percent of government stake in Magerwa as well as 53 and 6.25 percent owned by Rwanda Development Bank (BRD) and Rwanda Commercial Bank (BCR) respectively. Nyoni said that the company expressed interest in acquiring even more than 60 percent shares that would make the company majority shareholder. BPR spends Rwf30m on mobile banking promotionBanque Populaire du Rwanda (BPR) spent Rwf30m in a promotion dubbed ‘Use ‘n’ win’ to award clients using its mobile banking service. Lucky winners will win new scooters, airtime, Star times decoders and subscription and electricity vouchers. BPR’s Chief Executive Officer, Herman Klaassen, said the promotion aims at increasing the use of the mobile banking product. The promotion started early this month and will run until August this year. Klaassen explained that for a client to become a winner, at least four minimum transactions must be made. The promotion has so far registered 22,000 eligible winners out of the total 70,000 registered users of the service. BPR Mobile Banking helps customers to conduct banking transactions via their mobile phone handsets. And the bank registers 20,000 recorded transactions per month. UK’s Actis to sell off its stake in BCRBusiness Times learnt that Actis, a London-based private equity investor, plans to sell off its shares in Rwanda Commercial Bank (BCR). Actis with 80 percent share in BCR has investments across Africa, China, Latin America, South and South East Asia. The Government owns 20 percent in BCR. Actis is said to be in talks with a yet to be known Kenyan bank for purchase. The Minister of Finance, John Rwangombwa, confirmed to Business Times saying government is still in the early stages of discussions with potential buyers. He said government is looking for a potential buyer or lender to make an impact on the bank and economy. However Rwangombwa declined mentioning whether government will sale off its 20 percent. Brazzaville trade fair postponed A trade show that was slated for 28 to 30, 2011 in Congo Brazzaville was postponed until next month. The show is organized by the Private Sector Federation (PSF), Rwanda Development Board (RDB), RwandAir and the Ministry of Trade and Industry. It will attract among others, Rwandan companies. The Acting Director of Investments and Special Projects at PSF, Ephraim Karangwa, told Business Times that Congo Brazzaville`s parliament will be holding a big function at the grounds where the event was to take place. The exhibition is in line with Government’s efforts to promote the country’s products in regional markets. 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