Archive for July, 2010
Diaspora remittances to strengthen our economy
Editorial:
Diaspora remittances to strengthen our economy
 |
 |
 |
Money sent home by Rwandans living in the Diaspora has significantly increased with recent figures putting the total in remittances last year at 23.2 percent, despite the negative impact of the global recession.
Remittances have been increasing since 2005 from$42.85million to $139.89 million in 2008, accelerating further to reach $172.40 million last year, statistics from the Diaspora General Directorate under the Ministry of Foreign Affairs indicate.
Like Rwanda, each year, millions of other Africans living in Diaspora send billions of dollars in remittances to friends and family members in their countries.
These remittances have become a key foreign exchange earner for Africa. However, the remittances should put to meaningful use if they are going to benefit the larger society.
Last year, the Rwandan Diaspora together with the National Bank of Rwanda (NBR) announced that they had finalized plans to establish an investment fund – the Rwandan Diaspora Mutual Fund (RDMF) which was adopted by the 2008 Diaspora Retreat.
Mutual Fund will be invested in treasury bonds, guaranteed by NBR and at a later stage the interest gained from the bonds will be invested in higher risk products such as corporate. This is a beautiful idea but those in charge should walk the talk.
Africa still has the largest proportion of people suffering from chronic hunger with the highest population of the undernourished. This is despite the continent’s rich endowment in both human capital and natural resources.
Though it’s self evident that increase in remittances is due to trust and confidence Rwandans in Diaspora have in the government, putting in place conditions like reduced cost of remittances, softening transfer regulations at both ends of the chain, sensitizing financial operators on the market potential or directing Diaspora where to invest with quick returns will surely increase remittances flow and spur direct investment.
Premier urges Diaspora to participate in polls
Premier urges Diaspora to participate in polls
By Eric Kabeera
KAMPALA – Prime Minister Bernard Makuza has called on Rwandans in the Diaspora to turn up for the upcoming Presidential elections slated for next month, saying that it’s their fundamental right to participate in their country’s programmes.
The Premier made the call in an exclusive interview with The New Times on the sidelines of the African Union Summit where he represented President Paul Kagame.
“Participation of the Rwandan Diaspora in the elections, I am sure, will strengthen our governance and democracy which will lead to development…and voting is a right that no one can deny them. It’s their responsibility as Rwandans to participate in the development of their nation,” he said
“They should go to their respective embassies in their countries and cast votes”.
He castigated reports that the forthcoming polls would not be free and fair, adding that those claiming so should provide evidence to substantiate their statements.
“We are going to have free and fair elections…as we speak now, all candidates are campaigning freely, and they have been given equal coverage by the media.
Meanwhile, in the same interview, Makuza spoke of the thousands of Rwandan refugees living in several countries, saying that the country has an obligation of assessing the living conditions of its nationals living in various countries.
“It’s our obligation as Rwanda to know the conditions of our people, whether they are living miserable lives or not, whether they are causing conflicts in their host countries… we are responsible for all that,” he said.
He therefore appealed to refugees to repatriate, saying that Rwanda is peaceful and would provide the necessary logistics possible to facilitate them return home.
Diaspora remittances hit $172.4m
Diaspora remittances hit $172.4m
By Berna Namata
Rwandans living and working abroad are increasingly sending money back home with total remittances last year rising sharply by 23.2 percent despite the negative impact of the global recession.
Remittances have been increasing since 2005 from$42.85million to $139.89 million in 2008, accelerating further to reach $172.40 million last year, statistics from the Diaspora General Directorate under the
Ministry of Foreign Affairs indicate.
The data is collected from commercial banks, money transfer agents like Western Union, Money Gram , MoneyTrans and other informal transfers.
“We have realized that as more companies are allowed to transfer funds the figure has been increasing because initially it was only Western Union. The increase also shows the trust and confidence Rwandans in Diaspora have in their economy,” Ambassador Claver Gatete, the Vice Governor told Business Times in a phone interview on Tuesday commenting on the figures.
With that several government initiatives targeting Rwandans abroad being introduced, Vice Governor said was optimistic that the positive trend would continue.
“Most of them are sending money for investment and some have also approached us requesting to participate in Treasury Bills,” he said.
To encourage and ease repatriation of funds, Gatete said the Central Bank will license more companies involved in money transfer business.
“We are also ready to help them give them information that can assist them to make decisions (investment),” added.
Last year the Rwandan Diaspora together with the National Bank of Rwanda (NBK) finalised plans to establish an investment fund the Rwandan Diaspora Mutual Fund (RDMF) which was adopted by the 2008 Diaspora Retreat.
After its establishment, the Mutual Fund will be invested in treasury bonds, guaranteed by BNR and at a later stage the interest gained from the bonds will be invested in higher risk products such as corporate
bonds and stocks.
However it is also expected that the fund will be invested abroad in the long run, to earn more interest which will then be repatriated back to Rwanda.
Currently the Diaspora has actively involved in community development projects including the One Dollar Campaign and recently launched “Bye Bye Nyakatsi”— a project that aims at constructing modern houses and phasing out grass thatched houses in the country.
Diaspora remittances have become a key foreign exchange earner for Africa with about $5 billion released every twelve months.
RCA BBQ Party
RCA BBQ Party
[portfolio_slideshow]
You are Invited
Mother of triplets appeals for help
By Stephen Rwembeho
RWAMAGANA - Athanasia Niyigena, a resident of Gahengeri Sector, Rwamagana District, who on Thursday delivered triplets, is appealing to well wishers to come to her aid.
“We are happy to have the three children, but we are worried because we can’t feed them. My husband and I are too poor…we earn our living by working for others-we don’t even have a house of our own,” said the Niyigena, a first time mother.
She delivered at Gahegeri Health Center, before being transferred to Rwamagana Hospital.
“We expected one child. God has really put us to test, and unless we get help, we just can’t manage the children. I thus appeal to the government, NGOs, and others for aid.”
Just like the parents, the birth was a surprise to the doctors.
“It’s a surprise,” said Dr. William Rutagengwa, a general practitioner overseeing the development of babies at Rwamagana Hospital.
“The three newborns are in stable condition and they are doing quite well.”
According to Dr Rutagengwa, the smallest baby weighed just 1.5 kg, while the biggest weighed 2kg at birth.
“We are treating them as premature babies mainly due to their weight…but we expect them to be discharged soon. We are closely monitoring them,” he said.
Francoise Ingabire, a midwife, added her voice, calling for well wishers to assist the mother.
“You see our work will end as soon as doctors deem them fit to go home. The woman is poor just like the father. So, well wishers can think of helping them,” she said.
http://www.newtimes.co.rw/index.php?issue=14331&article=31707
Ends
Rwandan Diaspora to vote on August 8
Dear Rwandans in Diaspora,
Invitation to visit Rwanda Museums
July 14, 2010
Dear Sir/Madam,
VISIT YOUR MUSEUMS, KNOW AND ENJOY YOUR HERITAGE:
As the new Director General of the National Museums of Rwanda I would like to take this opportunity to encourage you to visit your museums and enjoy your heritage. You may not know that we have a total of six museums in Rwanda, all offering an interesting experience to visitors where they can learn about Rwanda and its extensive heritage.
They are:
- Natural History Museum Nyarugenge in Kigali
- Art Museum in Nyanza
- Kanombe Museum (formerly Presidential Palace in Kigali
- Ancient History Museum in Nyanza
- Social History Museum in Butare (also known as the National Museum of Rwanda)
- Environmental -museum in Karongi
All museums are open from 7:00am to 5:00pm Monday to Sunday. I or one of my team would be happy to show you around, just get in touch and we can accommodate you.
For more information you can also refer to our website www.museum.gov.rw
I hope you will visit one of the museums soon.
Yours sincerely,
Alphonse Umuliisa
Director General
National Museums of Rwanda
Email: abumuliisa@yahoo.com
Tel : +250 788 304806
Young Ambassadors needed
The Young People and Embassy Project showcase the achievements and contributions of athletes, past and present, of African, Caribbean and Black British heritage to the modern Olympics/Paralympics. The project will form part of the Cultural Olympiad projects being planned for London 2012 Olympic and Paralympic Games, to develop a series of inspiring and uniquely exceptional programme for African, Caribbean and Black British young people. The project will work in partnership with African and Caribbean embassies in London.
The project is recruiting 20 young people aged 10-15 and 5, 16-19 year olds. They will have the opportunity to connect with their embassies, understand the work they do and be part as they host their national athletes for 2012. They will participate in the Olympic site tour, make a video and produce a book of their heroes/heroines, produce exhibitions at the Olympics, shadow a high commissioner, and much more…….
Launch of the event: Saturday 24 July 2010 Time: 12:00 pm – 3:00 pm
Venue: Voice of Africa Radio, 24 Swete Street, Plaistow, E13 0BS (Buses 262,473 from Stratford)
Places are strictly limited. Parents and organizations can nominate young people for this programme.
If you want to take up this fabulous opportunity for yourself / your child, please do fill in form below or Contact Michael/Funmi: Tel- 0208 501 6888
Email: inspireactionfoundation@gmail.com
Name: ………………………………………………. Age: ………………… Sex: M…………F………
Address: ………………………………………… Country of Origin: ……………………
………………………………………………………… School/College…………………………………
Contact Tel: ………………………………… Mobile: ………………………………
Email: …………………………………………………………………………