Rwanda News

Strive Masiyiwa, Founder & Chairman, Econet Wireless Group

Strive Masiyiwa builds broadcast empire to challenge MultiChoice

Econet Group is building a broadcasting empire that could challenge MultiChoice’s dominance in the payTV market across the continent.

A Protea Hotels location now owned by Marriott International

Why Marriott's Expansion in Africa Could Mean Long-Term Gains

Marriott opened its first property in sub-Saharan Africa, the 254-room Kigali Marriott in Rwanda, in early October.

Volkswagen moves into Kenya & Rwanda in Africa expansion

Volkswagen moves into Kenya & Rwanda in Africa expansion

Volkswagen on Wednesday opened a new assembly plant in Kenya and launched plans for a ride-sharing service in Rwanda as it seeks to take advantage of surging car demand in Africa.

Nic Rudnick, CEO, Liquid Telecom

Liquid Telecom buys Neotel for $466M to form Africa's largest fiber network

Africa’s largest fiber network will be formed as Liquid Telecom buys South African converged network operator Neotel.

Geoffrey Odundo, CEO, Nairobi Securities Exchange. Credit: marcopolis.net

Nairobi Securities Exchange to start offering ETFs in diversification drive

The Nairobi Securities Exchange expects its first exchange traded fund (ETF) to be approved by the regulator this year and trading to start soon after.

Across Africa, 3 in 4 countries improve business environment

Across Africa, 3 in 4 countries improve business environment (Infographic)

Almost three-quarters of African countries saw an improvement in their business environments in 2016, according to the Doing Business 2017 report published in October by the World Bank.

Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

African stock exchanges should focus on smaller businesses: Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

The African growth story is no longer a fairy tale. Over the past decade, multinational companies, private equity funds and infrastructure development programs have channeled capital to the continent.

Spotlight on East Africa Private Equity: African Private Equity and Venture Capital Association (AVCA)

Spotlight on East Africa Private Equity (Report & Infographic): African Private Equity and Venture Capital Association (AVCA)

Between 2010 and 2016 H1, there were 167 reported private equity deals in East Africa totaling $1.4 billion.

Jeff Schlapinski, Director of Research, EMPEA

Private equity investment in Africa heats up as pension funds stay local

African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature.

Donald Trump, illustrated as a dictator. Credit: The Daily Show/Comedy Central

The US elections (and their aftermath): Covered as African elections are covered in the West

The US of A, a nation located in the center of the North American continent, is shaken by its latest electoral results.

Bryan Leith, COO, KPMG Africa

Africa's Economic Prospects: Bryan Leith, ‎COO, KPMG Africa

While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.

Live music in Accra, Ghana

Why is Ghana 25 times more successful than Nigeria at attracting tourism revenues?

Tourism should be an easy win for emerging market (EM) and frontier market (FM) economies with weakened currencies, and cheap jet fuel; an opportunity that we think is being missed.

East African Community a bright spot amidst emerging markets gloom

East African Community a bright spot amidst emerging markets gloom

While many countries are registering a sharp slippage in economic growth, East African economies, Ethiopia included, are expected to deliver above 6 percent economic growth, the World Bank has said in its latest report.

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015.

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale scale solar plant

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale solar plant

In addition to this new 40 MW plant in Mozambique, Scatec Solar operates 200 MW of solar power plants in South Africa and Rwanda and has new projects under development across Africa, including in Mali, Nigeria and Kenya.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.

Kigali Heights, Kigali, Rwanda (Illustration)

Magnificent Kigali Heights to open in November

Kigali Heights, a new mega-commercial complex in Rwanda’s capital Kigali, has set November as the opening month for the $36 million property.

Tamassa Resort in Mauritius

Property fund Mara Delta agrees to buy Tamassa Resort in Mauritius

LUX* Resorts and Hotels sells Tamassa Resort for US$40 million in sale-and-leaseback deal.

The Legend Hotel (Illustration); which will be located within the Murtala Muhammed International Airport boundaries in Lagos, Nigeria; will feature 54 guest rooms, including eight suites. Credit: Curio - A Collection by Hilton/estateintel.com

Hilton Expands Presence in Nigeria with Signing of Hilton Lagos Airport

Hilton has announced the signing of a management agreement with Quality Inspection & Testing Services Limited to open a 350 guest-room and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria.

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa Inc., the world’s largest payments network, introduced a mobile-phone application to enable cashless transactions in Kenya, where the majority of wireless payments are being done through the nation’s biggest telecommunications company, Safaricom Ltd.

Abidjan, Ivory Coast

Ivory Coast: Tech Hub on the Rise

Following years of political turmoil, Côte d’Ivoire is growing quickly and attracting investment. Now, the government is trying to position the country as west Africa’s technology and start-up hub.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Bugesera International Airport (Illustration)

Rwanda signs $818M deal for new international airport

Rwanda has signed a deal with the African division of Portuguese construction firm Mota-Engil to build an international airport at a cost of $818 million, the company and government officials said.

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Visualizations of Real GDP Growth Rates of Countries in Africa (Interactive Map & Chart) from 2007 – 2017.

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

Africa attractiveness program 2016: EY

Africa attractiveness program 2016: EY (Infographics & Reports)

We are at an inflection point in terms of the structural evolution of most African economies. Decisions made and actions taken now will determine, which of these economies consolidate the gains made over the past decade as a platform for sustainable growth in coming decades.

Not Louise Linton's Zambia. Credit: EPA/Stringer/qz.com

#LintonLies: Louise Linton's "white savior" memoir about her gap year in Zambia has been pulled from shelves

The now infamous memoir, In Congo’s Shadow by Scottish actress Louise Linton, is no longer for sale.

Africa - The great opportunity

Africa: The great opportunity

Africa is rapidly becoming the global economic growth engine. Half of the world’s 25 fastest-growing nations are in Africa and almost 40 per cent of the continent will achieve GDP growth of more than 5 per cent in 2016.

OR Tambo International Airport, Johannesburg. By 2018, a cross-continent passport may be available to all African citizens. Photograph: Alamy

As the UK shuts itself off from Europe, the African Union rolls out a passport for the continent's 54 countries

This weekend the African Union unveiled an e-passport that will hopefully be available to all citizens of member states by 2018.

A Diageo factory in Accra, Ghana, produces Orijin Bitters. Credit: wsj.com

Why Diageo, PZ Cussons, and Atlas Mara are betting big on Africa

As growth in China slows after two decades of breakneck economic development, Western companies are increasingly turning towards India and Africa as the next great untapped opportunities.

Here are 7 predictions for Africa's tech sector

Here are 7 predictions for Africa's tech sector

As Africa transitions from the margins to the mainstream of the global economy, technology is playing an increasingly significant role.

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.

Kenya vs. Tanzania: The race to build Sub-Saharan Africa's largest port. Credit: bbc.com

Kenya vs. Tanzania: The race to build Sub-Saharan Africa's largest port

Kenya and Tanzania have long competed to have the most important port in East Africa and their rivalry is about to become more intense as they compete for the region’s business.

Sev Vettivetpillai, Partner, Abraaj Group. Credit: M&A Advisor

Dubai-based private equity firm Abraaj readies Nigerian fertilizer and East African insurance deals

Abraaj Group, a Dubai-based private equity firm, is in the final stages of approval for three transactions in sub-Saharan Africa and will probably make further investments in the region before the end of the year, partner Sev Vettivetpillai said on Thursday.

Abidjan, Ivory Coast. Credit: panoramio.com

Here are Africa’s top 10 fastest growing economies (Infographics)

The Ivory Coast is Africa’s fastest growing economy, according to the IMF’s latest World Economic Outlook. The West African nation’s GDP is expected to grow by 8.5% this year.

Rwanda: A new model for growth

Rwanda - A new model for growth (Infographic & Report): This Is Africa & the Financial Times

Rwanda’s transformation from the peak of its political crisis culminating in the 1994 conflict until now is remarkable. Though the country is frequently held up as a model for rapid development by politicians and development policymakers, its trajectory and political culture are unique.

Hotel Novotel Dakar, Senegal. An AccorHotels property

Hotel development in Africa jumps 30% to 64,000 rooms for 2016

The number of planned hotel rooms for 2016 in Africa has soared to 64,000 in 365 hotels, up almost 30% on the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.

Rita Kavashe, Managing Director, GM East Africa

General Motors East Africa to double truck output on construction boom, says MD

A construction boom in Kenya has fueled a rise in commercial truck sales for market leader General Motors, which is investing $7.9 million in 2016 to upgrade its assembly plant in Nairobi and more than double output, a senior executive said on Thursday.

Tope Lawani, Co-Founder & Managing Partner, Helios Investment Partners

Pan-African private equity firm Helios completes deal to acquire UK's Crown Agents

Helios, the pan-African investment firm, is set to deliver a postcolonial turnround with a deal for key divisions of Crown Agents — a company which was once a pillar of the British empire.

Maitama Mixed Use Development, Abuja, Nigeria (Illustration). Credit: Eris/estateintel.com

Eris and Momentum to invest over $308M in West African real estate

Momentum Global Investment Management (MGIM) and the Eris Property Group have allocated over $308 million for real estate investments in West Africa in the 1st Quarter of 2016.

Kenya signs $5.42B railway extension deal with Chinese firm

Kenya signs $5.42B railway extension deal with Chinese firm

Kenya recently signed a multi-billion dollar agreement with China Communications Construction Company (CCCC) to extend the country’s rail network, adding to a swathe of infrastructure deals in Africa won by Chinese firms.

Shop Africa 2016: Knight Frank

Shop Africa 2016 (Report & Infographics): Knight Frank

Sub-Saharan Africa is experiencing a wave of modern shopping mall development. The retail sector has become a major focus for development activity in recent years, as investors have been attracted by the growth potential of African consumer markets.