Chancen International announces first close of its US$21m Future Of Work Fund for ethical student financing

RWANDA – Chancen International (CI) has announced the first close for its US$21 million Future of Work Fund (FWF). The close is a significant move aimed at realizing African Union’s agenda 2063 which advocates for well-educated citizens and skills revolution underpinned by science, technology, and innovation.  The fund will also bolster UN Sustainable Development Goals in Africa which focuses on…

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KCB set open new subsidiary in Rwanda after completing the acquisition of BPR Bank

RWANDA – Kenya Commercial Bank (KCB) Group has announced plans to open a new subsidiary in Rwanda, seeking to double its regional business in the next two years and support economic expansion in Rwanda. The lender merged KCB Bank Rwanda with its newly acquired Banque Populaire du Rwanda (BPR) to form BPR Bank Rwanda Plc last month. The acquisition of…

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CcHUB, Google presents 9 startups for Fintech Incubation Programme in Rwanda

RWANDA – Co-Creation Hub, in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation is excited to announce the nine startups selected for the Fintech Incubation Programme. The Fintech Innovation Project consists of the Fintech Incubation Programme and other developmental programmes. The programme is part of the ongoing efforts to turn Rwanda into the Fintech hub of…

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AfDB approves US$180m loan for extension of electricity in rural areas

RWANDA – The African Development Bank (AfDB) has approved two loans amounting to US$180 million to co-finance a major energy project that will extend electricity access to rural areas and reduce greenhouse gas emissions in Rwanda. This follows earlier approval for US$84.2 million from the resources of the African Development Fund (ADF), the concessional window of the Bank Group, for…

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Oil and gas company Eni and Rwanda sign MoU on cooperation in circular economy

RWANDA – Eni, a multinational oil and gas company, and the Government of Rwanda have signed a Memorandum of Understanding (MoU) to identify collaborative opportunities in the areas of circular economy, agriculture, forestry, innovation and digital information technology. Under the terms of the MoU, the two parties will evaluate the feasibility of circular economy projects focused on collecting used cooking…

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KCB Group receives regulatory approval to merger BPR with its Rwanda subsidiary

RWANDA – KCB Group has received regulatory approval from the National Bank of Rwanda (BNR) to merge its newly acquired Banque Populaire du Rwanda (BPR) and KCB Bank Rwanda. The two banks will now operate as a single entity named BPR Bank Rwanda Plc, with KCB Group as the majority shareholder effective April 1, 2022.  The combined entity will become…

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Rwanda signs agreement with KOKO to establish US$25 million renewable cooking fuel utility

RWANDA – The Government of Rwanda has announced an agreement with KOKO Networks to develop the world’s first nation-wide renewable cooking fuel utility. KOKO has partnered with Dalberg, a global group working to build a more inclusive and sustainable world, to establish KOKO Rwanda, in order to develop a nation-wide Network that will enable convenient clean fuel access for all…

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Online platform Hence Technologies secures US$1.8m seed fund to grow its team

RWANDA – Hence Technologies, a Rwandan and London based online platform for lawyers, has secured a US$1.8 million seed funding, aimed at growing its team. This brings the total amount raised by the startup, so far, to US$2.6 million. The seed funding round was led by Daybreak Partners, Broad Creek Capital, Daglar Cizmeci and a number of other angel investors.…

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Aleph Hospitality to operate Accor’s MGallery hotel and Century Park Hotel and Residences

RWANDA – Aleph Hospitality, an independent hotel management company, has signed a management agreement to operate Accor’s luxury five-star MGallery hotel, as well as all facilities at the new Century Park Hotel and Residences development in Rwanda’s capital Kigali. “We are delighted to formally launch our hotel and residences with agreements with two leading international organizations – Aleph Hospitality and…

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