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Kagame: Stop begging, finance Africa’s development

Africa will stop depending on donors to finance its own development if it tames illicit financial flows, improves taxation and adds value to its raw materials, according to Rwandan President Paul Kagame. He was speaking at the opening of the African Leadership Forum last week. The leader, who is also …

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Financing of the Union: By Africa for Africa

The African Union has adopted a new financing strategy to assure reliable funding for its programmes and make it less dependent on external partners. The African Union (AU) was launched in 2002, succeeding the Organisation of African Unity (OAU, 1963–99), with the aim of driving Africa’s growth and economic development …

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Credit to private sector to grow by 13% in 2018

  Rwanda’s financial sector is expected to increase lending to the private sector with the National Bank of Rwanda predicting a 13 per cent growth (in credit to the private sector) in 2018. According to the Monetary Policy and Financial Stability Statement released yesterday by the central bank, the bank …

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Rwf 2,094.9 billion for 2017/2018 budget

The Minister of Finance and Economic Planning, Ambassador Claver Gatete has presented a draft budget for 2017/2018 showing a significant rise from Rwf 1954.2 billion in 2016/2017 to Rwf 2094.9 billion. Internally generated revenues and loans account for 83% of the total budget; 17% will come from foreign aid. As …

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BK nets Rwf 5.6 billion in 2017 first quarter

Bank of Kigali earned Rwf 5.6 billion net profit in the first quarter of 2017 a 5.8% growth of similar period last year. The bank’s total assets grew to Rwf 661.6 billion. The Chief Finance Officer at BK, Nathalie Mpaka has told the media that BK made a good progress …

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