The week that was…

BK shares go down Bank of Kigali’s shares slipped twice from Rwf191 to Rwf172 and to Rwf155 in the first week of its trading with experts saying it was normal market trends. KCB posts Rwf34m profits KCB Rwanda announced a net profit of Rwf34m in quarter II of 2011, indicating a good recovery after suffering two years of losses. Plans to sell Sorwatom kick off Embattled food processor, Sorwatom, signed an agreement with Dillux, an investment group, to take over its liabilities. Dillux had earlier acquired a loan of Rwf300m on to pay off Sorwatom’s workers and farmers. Pineapple farmers and Inyange reach agreement Inyange Industries agreed to pay an outstanding debt of Rwf3 million to its pineapple suppliers, whereas both parties consented to draft a contract to govern their partnership. Kabuye cuts sugar supply by 50% Kabuye sugar works cut down its supply by 50 per cent owing to the shortage of raw materials that halted its production. The shortage offset instability in sugar prices. BNR launches investment survey The National Bank of Rwanda launched a foreign investment survey to guide policymakers in formulating economic policies and measure their impact on economic development. mugishaivan@yahoo.com