Business round-up

Govt imports Rwf148m green house materialsThe Government imported three containers of green house materials worth Rwf148m. They are to be used at a demonstration centre at Gishari in the Eastern Province, to revive the floriculture industry. The centre will be equipped with infrastructure including electricity, water and some green houses to showcase its commercial potential. Government will develop two hectares to demonstrate to investors that the flower business is viable and competitive. The development comes at a time when the country`s sole flower company, Rwanda Flora, can not even sustain local demand as it was hit hard by last years global financial crisis. The Director General of Rwanda Horticulture Development Authority (RHODA), Ndambe Nzaramba, said planting flowers will start in the next fiscal year. He said that being that the sector deals in luxurious goods, it was heavily affected by the global financial down turn adding that the flower demonstration park will boost the sector. Kagitumba one-stop border post to raise trade volumesPlans are underway to construct the Kagitumba-Mirama Hills one-stop border post at the Rwanda-Uganda border.The move is expected to smoothen cross border trade between the two countries. The border post is also anticipated to handle over 60 percent of heavy commercial and passenger vehicles.The project was started by Trademark East Africa (TMEA), a multi-donor funded agency which provides support for regional trade and economic integration in East Africa.TMEA says the move will consolidate border control functions in a shared space for exiting one country and entering another It is also expected to simplify procedures and reduce the time for trucks and people to cross. Kanimba commends new entrepreneurial competitionThe Minister of Trade and Industry, Francois Kanimba, commended a new entrepreneurship project. The project seeks to extend financial services and exposure to young business operators. The Project Inspire is a TV reality show that will start in July with 30 contestants. It will get six contestants from each East African Community (EAC) partner state. Kanimba pledged government’s support to the project saying the initiative is in line with national programmes to empower small and medium enterprises (SMEs). The Minister was speaking at the launch of the project. He said that SME growth is one of the country’s biggest priorities. He said that the project engineered by young people to help others is an enterprising mind that shows upcoming African investors. MTN locks horns with Tigo in new round of data price warsTwo of Rwanda’s telecom sector operators have now locked horns in price wars within the data segment, in what can be seen as further realignments unfolding within the rapidly changing sector. The price jostling comes at a time when the data incumbent, Rwandatel has been in the news following revelations that it is technically insolvent. It emerged that MTN Rwanda is serious in taking up more of the market share within data segment. However, it has to contend with efforts by new kid on the block Tigo Rwanda to jostle for a piece of the largely untapped but lucrative data market. Consequently, part of the price wars by both operators is seen through the launch of promotional packages that involves lower mobile internet prices. Ecobank, Airtel partner to boost ‘Mobile Banking’ serviceEcobank, a leading pan-African banking group, partnered with Bharti Airtel (“Airtel”), to promote mobile banking across Africa. The service allows users to perform balance checks, account transactions, payments, credit applications and other banking transactions through mobile devices. Ecobank and Airtel plans to explore the development of innovative mobile financial services focused both on serving the unbanked and under-banked and contribute to the economic development of the 14 African countries the two banks jointly operate in. The deal will also combine the distribution capabilities of Africa’s largest indigenous banking group in 32 countries across the continent. Ecobank’s Group Chief Executive officer, Arnold Ekpe said the deal reaffirms the bank`s commitment to providing banking and financial services to the unbanked and under-banked in Africa. RDB to penalise unregistered businessesThe Rwanda Development Board (RDB) will penalise over 10,000 public and private businesses that failed to re-register before the passed deadline of May 31, 2011. RDB says that out of 20,000 companies that were expected to apply, only 1,500 businesses successfully re-registered.The Registrar General of RDB, Louise Kanyonga, said that the board will not extend the deadline but implement fines. “We shall not be extending the deadline because it was provided by law. The penalties for late re-registration are Rwf37, 000 for companies and Rwf6, 000 for individual enterprises,” Kanyonga said. Rwanda leading Africa in sanitation promotion for tourism-WB World Bank said that the initiatives Rwanda has taken to promote sanitation will boost her tourism receipts. Rwanda has been ranked among the best four countries in Africa that have hit the Millennium Development Goals (MDGs) by improving sanitation ranking to 58 percent. World Bank’s senior sanitation and hygiene specialist, Yolande Coombes, said that Rwanda’s performance in sanitation and hygiene has exposed the country to greater opportunities especially in the tourism sector. The tourism sector fetched US$56 million (Rwf33 billion) for the country in the first quarter of 2011, up from US$43 million in the same period last year Ends