Latest News
- Giants of Africa postpone youth festival in Kigali, Rwanda
- Rwandan coffee sells out in seconds at Electronic World Trade Platform livestream event in China
- Kigali maintains 2nd position in Africa on ICCA ranking
- Public-Private Partnership to boost Rwanda’s Tourism & Hospitality Industry
- PUBLIC NOTICE: Hirwa Mountain Gorilla Family returns to Volcanoes National Park
- Rwanda Celebrates Earth Day with Immersive Gorilla Trekking Virtual Reality Film
- Rwanda private sector readies for Commonwealth Business Forum
- Government of Rwanda, Babyl partner to provide digital healthcare to all Rwandans
- Rwanda, UAE enter partnership to improve nationwide Road Safety
- Rwanda courts more tourists at Middle East Travel Fair
- RWANDA RE-OPENS FOR TOURISM
- Rwanda wins bid to host 2020 Africa Tourism Leadership Forum
- Rwanda tourism marketing delegation in United States for New York Times Travel Show and Southern California Trade Events
- Mobile Employment Services reach Musanze District
- Qatar Takes Majority Stake in Rwanda’s New International Airport
- Entre le Rwanda et le Paris Saint-Germain, plus qu’un partenariat
- Rwanda na Paris Saint-Germain: Birenze Ubufatanye
- Audio-Visual industry stakeholders commit to partnerships in bid to grow sector
- Second annual audiovisual regional forum opens in Kigali
- Rwanda closer to becoming a regional logistics hub with the launch of Kigali Logistics Platform
- Start-ups to receive funding and training after completing incubation program at the ICT Innovation Centre
- Arsenal Star David Luiz Celebrates Memorable Visit to Rwanda
- Cherie Blair leads investment delegation to Rwanda
- Rwanda welcomes high-level Dubai business delegation
- Kayonza residents participate in Kwita Izina bicycle race
The Banking Sub-Sector
Writerman 6:49 AM Financial Services
- The banking sub-sector: composed of twelve (12) commercial banks, three; (3) microfinance banks, one (1) development bank and one (1) cooperative bank. As at the same date, the banking system had 177 branches (June 2015: 161), 187 sub-branches (June 2015: 196), 183 outlets (June 2015: 164) and 4,342 agents (June 2015: 2,978)
- Micro-finance sub-sector: 15 limited liability Companies, 416 Umurenge SACCOs and 63 non-Umurenge SACCOs
- Pension sub-sector: 1 mandatory public pension scheme (RSSB) and voluntary pension schemes: 62 complementary occupational pension schemes and personal retirement savings accounts
- Insurance sub sector: 9 non-life insurers, 4 life insurers, 2 public medical insurers, 15 insurance brokers, three hundred and eighty five (385) insurance agents, fifteen (15) loss adjusters.
- Foreign exchange market: 88 licensed forex bureaus and 1 Forex Bureau Association
- Capital market: Equity market: 7 listed companies (4 cross-listed from Nairobi Stock Exchange) in banking, commercial, telecommunication, manufacturing, and media sectors; Bond market: 11 outstanding government bonds 2 corporate bonds with coupon rates ranging from 11.5% to 13.5% and maturities of 3 to 15 years and still growing. 9 stock brokers as members of Rwanda stock exchange. The market is capitalized at $ 3.6 billion (Rwf 2,740,185,563,676).
The sector also has:
One (1) Unit Trust, Rwanda National Investment Trust Ltd (RNIT Ltd), which in July 2016 launched the first fund: “RNIT Iterambere Fund”. The small RNIT Iterambere Fund share is one hundred Rwandan Franc (Frw 100) and the threshold amount for investment is kept as low as Frw 2000 although anyone can invest as per capacity.
One (1) Sovereign wealth Fund, Agaciro Development Fund, which was launched in August 2012 to build up public savings to achieve self-reliance and accelerate socio-economic development. As of December 3rd, 2016 the fund is capitalized at Rwf 37.5 billion out of the targeted Rwf 200 billion by 2020. The fund keeps growing day after day.
