[RwandaLibre] Rwanda government is investigating a Ponzi scheme.

 

Experts raise the red flag over pyramid scheme being probed in Brazil

A man browses the TelexFREE website. Rwanda government is
investigating the multi-level Internet marketing service on suspicions
that it could be a Ponzi scheme. Photo/Cyril Ndegeya

By Edmund Kagire Rwanda Today
Posted Friday, February 28 2014 at 20:03

In Summary

TelexFREE, an Internet-based service, requires new members to pay more
than $1,570 (Rwf1,067,600) and post three advertisement links to start
earning $100 (Rwf68,045.26) weekly. By recruiting new members, one
stands to earn bonuses, it claims.

TelexFREE has been banned in Brazil and is under investigation in the
US and other countries around the world on suspicions that it could be
a Ponzi scheme.

The government is investigating the operations of a business that has
attracted many Rwandans with its quick cashback philosophy, typical of
pyramid schemes also known as Ponzi schemes.

TelexFREE, an Internet-based service, requires new members to pay more
than $1,570 (Rwf1,067,600) and post three advertisement links to start
earning $100 (Rwf68,045.26) weekly. By recruiting new members, one
stands to earn bonuses, it claims.

TelexFREE has been banned in Brazil and is under investigation in the
US and other countries around the world on suspicions that it could be
a Ponzi scheme.

Emmanuel Bayingana, the official in charge of Competition at the
Ministry of Trade and Industry, confirmed that TelexFREE was being
investigated.

"We are doing an assessment of the operations of TelexFREE," Mr
Bayingana said. "The investigations will determine the way forward.
The assessment will be concluded next week."

He noted that the ministry, Rwanda Development Board (RDB) and the
central bank will come up with a position, especially if the business
is found to be risk-prone.

The government has been strict on pyramid schemes and multi-level
marketing businesses with a number of them, including Questnet, banned
from operating in Rwanda.

At the TelexFREE offices in the Kigali suburb of Remera near the taxi
park in a new complex that also houses Bank of Kigali, a few office
staff members lurk around trying to win more clients.
"It's a profitable business. You can join and make $100 a week. I make
the same every week by just posting three links," one of the staff
members only identified as Hakim said in an attempt to convince the
writer to join the scheme.

TelexFREE is a multi-level Internet marketing scheme which uses VoIP
technology to share advertisements online. Fred Ndoli, one of the
members and an active recruiter, maintains that the business is
genuine.

Recoup investment

"People are making money," Mr Ndoli said. "I earn $100 a week after
investing in it. I post links from a computer or using my phone. It
takes only five minutes."

Mr Ndoli said he only joined two months ago but was confident he would
recoup his investment and make even more money soon. He insisted that
those crying foul failed to fulfil their part of the agreement.

"I think they failed to post links," he said. "You make money by
posting links. If you don't post links, you don't make money."

Three people who lost their savings in the scheme told Rwanda Today
they were told that they failed to "post links" to recover their
money.

One of them, who joined recently, said he was informed that once one
fails to post links they forfeit their investment.

http://www.theeastafrican.co.ke/Rwanda/News/Rwanda-govt-probes-TelexFREE-over-Ponzi-scheme-claims-/-/1433218/2226134/-/aha5x8/-/index.html

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[RwandaLibre] Regulator orders Sonarwa to split business 

 

Regulator orders Sonarwa to split business


By ALEX NGARAMBE Rwanda Today
Posted Friday, February 28 2014 at 19:19

IN SUMMARY
The biggest insurer by market share, controlling 35 per cent, Sonarwa
has been running both policies under one management and board of
directors.

The National Bank of Rwanda (BNR) has told Sonarwa Insurance Company
to separate the management of its life and non-life business.

The biggest insurer by market share, controlling 35 per cent, Sonarwa
has been running both policies under one management and board of
directors.

Sonarwa Holdings Ltd, the umbrella body that handles all insurance
covers as well as the company's investment projects, is forwarding
nominees for the new board of directors to the central bank for
approval.

The new subsidiary, called Sonarwa General Insurance Company Ltd, will
start functioning immediately the regulator approves the nominated
board members.

Sonarwa is the only one of the few remaining insurance companies that
still combine the management of general business and life business.

Legal requirement

"The National Bank of Rwanda, which regulates the industry, has asked
us to have the two businesses separated as required by law," said
Allen Karungi Gatete, head of corporate communications at Sonarwa.

Sonarwa's general insurance products include marine hull, marine
cargo, accident and motor insurance policies. Its life assurance
products include individual life, education endowment plan, loan
protection assurance and pension plan assurance.

ALSO READ: Rwandan insurance companies post 26pc profit growth rate

Ms Gatete added that the regulator asked the insurer to separate the
two functions because there is always a bigger risk running the two
entities as one.

"Pooling resources together for two different investments is exposing
them to higher risks while the funds are for shareholders, thus the
need for the new regulation," she said.

IGI PLC, a Nigerian company, is the biggest shareholder in Sonarwa
with 64 per cent while Rwanda Social Security Board holds 16 per cent
and the remaining shares are held by eight companies.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/Rwanda/Business/Regulator-orders-Sonarwa-to-split-business/-/1433224/2226098/-/11mv54n/-/index.html&q=Regulator+orders+Sonarwa+to+split+business&sa=X&ei=EScSU8eVJO2D0QH0s4GwAQ&ved=0CCAQFjAA

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[RwandaLibre] Genocide suspects to be tried in France 

 

Genocide suspects to be tried in France


By EDMUND KAGIRE The EastAfrican
Posted Saturday, March 1 2014 at 13:37

IN SUMMARY
French Court of Cassation on Wednesday overturned a November Appeals
court ruling approving the extradition of Claude Muhayimana and
Innocent Musabyimana, saying that the two men could be tried in Paris.

Efforts to have genocide perpetrators extradited back to Rwanda to
face trial suffered a major blow after France's highest court blocked
the extradition of three suspects last week.

The French Court of Cassation on Wednesday overturned a November
Appeals court ruling approving the extradition of Claude Muhayimana
and Innocent Musabyimana, saying that the two men could be tried in
Paris.

READ: France to extradite suspect to Rwanda

In a similar development, the same court also upheld a September
decision by another court rejecting the extradition of Col Laurent
Serubuga, a former military officer in the previous regime wanted by
Rwanda over the 1994 genocide against the Tutsi.

The two developments have been described as a major setback for
Rwanda, which was gaining some ground in its bid to have genocide
suspects in Europe, and beyond, sent back to Rwanda to be tried where
they committed their crimes.

Rwanda's Prosecutor General Richard Muhumuza told The EastAfrican that
the recent French decision denying extradition of three suspected
genocidaires is a "setback to Rwanda's goal of prosecuting Rwandans,
in Rwanda, currently residing in France, accused of genocide and
related crimes."

Mr Muhumuza, whose office has conducted a relentless pursuit of
genocide suspects, said that France, which is currently prosecuting
Capt Pascal Simbikangwa for the crimes he is alleged to have committed
in Rwanda during the genocide, should go ahead and prosecute the three
men if it cannot send them back to Rwanda.

"It must try the three suspects whose extradition to Rwanda has been
denied. The refusal to extradite must not be synonymous with
exoneration from the charges," he said.

Kigali maintains that France's actions are tantamount to entrenching
impunity. Rwanda and France have had an uneasy relationship over the
genocide and the events that led to it. Even in 2009, when the two
countries had a rapprochement, the issue of genocide suspects remained
an outstanding one.

The Rwandan government maintains that France harbours the largest
number of genocide suspects, some of whom it considers "big fish."

The umbrella association of genocide survivors, Ibuka, also contends
that France's handling of genocide cases is "not serious." The
president of the association, Jean Pierre Dusingizemungu, expressed
concern that Paris's move could influence decisions taken by other
countries.

"We are used to this ping-pong going on in French courts. All these
people they are protecting are known for who they were in the previous
government and their roles in the genocide are no secret," said Mr
Dusingizemungu.

The trial of Mr Simbikangwa, which began this February, had raised
hopes that France would eventually move to act on genocide cases 20
years after the event, but the latest developments deal a blow to
those hopes.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/news/Genocide-suspects-to-be-tried-in-France/-/2558/2226986/-/mkkgw/-/index.html&q=Genocide+suspects+to+be+tried+in+France&sa=X&ei=lSUSU7eeNKb_0wHXmoDQDw&ved=0CCYQFjAD

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[RwandaLibre] Anxiety over change in rules as Rwanda's university admissions near 

 

Anxiety over change in rules as Rwanda's university admissions near


By Rodrigue Rwirahira Rwanda Today
Posted Friday, February 28 2014 at 20:00

IN SUMMARY
Students have expressed concern, including fear of confusion in the
admissions process, but experts and government officials believe the
exercise will be smooth.

Education experts have applauded the government's move on new
admission procedures for students joining university, but called for
proper management in the upcoming intake.

Selection of students joining university was previously done by the
Joint Admission Board (JAB), a body within Rwanda Education Board
(REB), but recent reforms mean that institutions will now take charge.

Students have expressed concern, including fear of confusion in the
admissions process, but experts and government officials believe the
exercise will be smooth.

"We fear this might provide room for bribery in case a parent is
acquainted with the principal of an institution," said Valens
Shirangabo, a Senior Six leaver.

However, experts in the sector commended the move saying it will spur
competition among schools and at the same time improve the quality of
education.

ALSO READ: Mixed reactions greet reforms in higher education sector

Make ultimate choices

According to Oscar Bahizi, a vice-rector at the Institute of Legal
Practice and Development, the move is good and will offers a chance to
parents and students to make their ultimate choices on which options
to undertake.

Recently, the government resolved to merge all public universities
into one but allowed the former institutions to retain their
respective disciplines and faculties.

READ: Institutes of higher learning to merge with University of Rwanda

"It is no longer the scholarship," said Mr Bahizi. "We are likely to
see schools wanting to enrol the best students; of course they will
set varying criteria, thus we expect at least good quality of
education in the future."

Mr Bahizi however stated that it was the government's responsibility
to ensure the transition was done properly by making sure all
respective institutions possess strong systems and facilities to avoid
disorder.

"Initially, it might be confusing for students, but schools will need
to have stronger IT systems in place and enforce their human resource
capacity to deal with admission pressure," he added.

Louise Karamage, head of the National Higher Education Student Loan
Department (HESLD), told Rwanda Today

that the government was mulling more regulations for quality education
while encouraging parents to take charge of their children's tertiary
education.

ALSO READ: Surging varsity enrolment in EAC pushes down standards

No more JAB

"There will be no Joint Admission Board to send the lists of selected
students to University of Rwanda or other higher learning
institutions; all admissions will be done by institutions, and we
expect the exercise to be finalised by June," she said, adding that
this will allow the loan application process to commence early.

According to officials, the yet-to-be-enrolled students will now have
to individually apply to be admitted to the various institutions and
later apply for government loan from HESLD.

This is unlike in the past when the government determined which
students would be sponsored and who would foot their education bill.

Experts insist that the move might equally relieve the government of
the burden of financing students in varsity programmes which is eating
into its budget and does not drive the country at the same speed with
the other countries in the region.

"If only the government would just intervene in terms of regulation to
ensure the desired quality of education and leave students and parents
to cater for their tertiary education," Mr Bahizi added.

He urged the government to focus on programmes and facilities.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/Rwanda/News/Anxiety-over-change-in-rules-as-Rwanda-varsity-admissions-near-/-/1433218/2226124/-/4wc4fe/-/index.html&q=%3FAnxiety+over+change+in+rules+as+Rwanda's+university+admissions+near&sa=X&ei=eyMSU4vCMIiO0gGgqYDoAg&ved=0CCUQFjAB

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[RwandaLibre] Why opposition is suspicious of Uwizeyimana

 

Why opposition is suspicious of Uwizeyimana

The recent return to Rwanda of a former critic of President Paul
Kagame's government is being viewed with suspicion by opposition
politicians, who claim it is part of the ruling party's plot to weaken
opposition groups in exile.

However, Evode Uwizeyimana dismissed as untrue allegations that his
return from Canada, where he has been living in self-imposed exile for
seven years, had been influenced by the state.

Mr Uwizeyimana, who has since been hired as a consultant in Rwanda's
Ministry of Justice, had become a household name from his appearances
on a popular Saturday radio talk show programme, Imvo n'Imvano, hosted
by Gahuza Miryango, the Kinyarwanda- Kirundi service of the British
Broadcasting Corporation, during which he routinely accused the Rwanda
government of flouting the law. He also appeared regularly on Voice of
America.

"I realised what I was involved in was a lie and was not sustainable.
It was my own resolve to come and work for my country. I think I still
reserved the right to return as a citizen," Mr Uwizeyimana said at a
press conference held in Kigali recently.

He apologised for his utterances on radio, claiming he had been paid
to criticise the government. However, he did not elaborate on this.

READ: Politics of convenience and hardball political games live in harmony

One of his first assignments as legal adviser in the Ministry of
Justice is to "punch holes" in a recent report by the United Nations
Special Rapporteur Maina Kiai, which accuses Rwanda of muzzling
freedoms of expression, association and dissent.

Members of the Rwanda's opposition abroad took to social media to
criticise the legal expert for abandoning the principles he had
earlier claimed to stand for.

Dr Theoneste Rudasingwa, a founding member of the Rwanda National
Congress (RNC), one of the most prominent of the opposition groups in
exile, dismissed as inconsequential Mr Uwizeyimana's move, saying his
political party would continue to challenge the Kigali government.

"That is his business. For us, we are in a struggle, and we shall
build the future together, however difficult that is," Mr Rudasingwa
said.

Mr Uwizeyimana, who fled Rwanda in 2007, has previously been linked to
the exiled Faustin Twagiramungu, Rwanda's prime minister from 1994
until his resignation in 1995.

Mr Twagiramungu's political party, RDI-Rwanda Rwiza, remains active
abroad and most recently formed a coalition with a faction of Parti
Sociale (PS) Imberakuri loyal to jailed opposition member Bernard
Ntaganda and the Democratic Forces for the Liberation of Rwanda
(FDLR), the remnant Rwandan Hutu rebel group accused of committing the
1994 genocide against the Tutsi.

Mr Uwizeyimana is not the first exiled politician to return to Rwanda
to a "good job." Upon his return in 2012, former premier Pierre
Celestin Rwigema was rewarded with a seat at the East African
Legislative Assembly where he is still serving to date.

Major Gerard Ntashamaje, who was, until February 2009, the president
of Rally of the Rwandan People (RPR-Inkeragutabara), returned from
self-imposed exile in 2011 and is reportedly working with the Rwanda
Demobilisation and Re-integration Commission where he is involved in
persuading exiled former military and rebel combatants to return home.

The most recent returnee is Gerard Karangwa Semushi, who returned to
Rwanda in June 2013.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/news/Uwizeyimana-s-return-to-Rwanda--suspicious--/-/2558/2227006/-/daeouk/-/index.html&q=Why+opposition+is+suspicious+of+Uwizeyimana&sa=X&ei=2yESU5f3HcbT0wGLloBA&ved=0CCAQFjAA

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[RwandaLibre] Rwanda courts investors with new mineral law

 

Rwanda courts investors with new mineral law

Saturday 1st March, 2014 on East African


The rules of the game are set to change completely for mining
companies in Rwanda if a proposed law is enacted. Firms will no longer
have access to limitless swathes of land as the law proposes
demarcation of the country into mining blocks of 400 hectares each.
These would be allocated to both firms with mining concessions and new
entrants.

The firms will no longer have access to limitless swathes of land as
the law proposes demarcation of the country into mining blocks of 400
hectares each. The draft law on Mines and Quarries Exploitation,
tabled before parliament recently, is aimed at attracting new
investors, increasing efficiency and improving value addition to boost
revenues from minerals.

The law, which comes at a time when the government is under pressure
to prove its mineral wealth, will make it easier for it to monitor
investor activity. Minister of State in charge of Mining at the
Ministry of Natural Resources Evode Imena told The EastAfrican that
with the demarcation, "Each block will be independent —we will have
the right to take any block the investor is not using.

According to Mr Imena, an ongoing minerals certification scheme and
the mineral tagging mechanism will reduce speculation and smuggling of
minerals and strengthen traceability. "We cannot ignore that at one
point in time, mining in Rwanda was mainly a trading based business,
but due to reforms introduced by the government now it is an
extracting business," he said.

Since 2011, the government has been putting pressure on private
companies with big concessions to increase their investment or lose
the contracts. At the same time, it has been awarding licences to new
companies.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://newskenya.co.ke/news/latest/east-african/rwanda-courts-investors-with-new-mineral-law/d84hf.384545&q=Rwanda+courts+investors+with+new+mineral+law&sa=X&ei=WiASU-nXFoLk0wG-qIGgCQ&ved=0CCMQFjAA

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[RwandaLibre] Rwanda's private sector close to controlling economy 

 

Rwanda's private sector close to controlling economy


By ALEX NGARAMBE Rwanda Today
Posted Friday, February 28 2014 at 19:20

IN SUMMARY
According to Rwanda Development Board (RDB), since 1995 when the
government put in place a series of economic mechanisms to revive the
economy, more than 80 government parastatals have been put up for sale
with about 60 of them fully or partially sold.

The government's plan to let the private sector take ownership of
running the economy is gaining momentum with more than 80 per cent of
all government parastatals that were lined up for privatisation being
fully or partially sold to private investors.

The majority of the companies that were up for grabs have been taken
over by foreign investors with Rwandans allowed a chance to have
ownership in a few companies that are listed on the stock exchange.

According to Rwanda Development Board (RDB), since 1995 when the
government put in place a series of economic mechanisms to revive the
economy, more than 80 government parastatals have been put up for sale
with about 60 of them fully or partially sold.

More than 20 untouched

The privatisation drive was aimed at addressing the deteriorating
situation of public enterprises that lacked expertise after the
devastation caused by four years of instability in the country that
rendered sustained economic growth difficult.

READ: Boost for struggling firms as investors come calling

More than 20 companies are however untouched and the government is
courting investors to take them up.

Notable among them is RwandAir Express, the national carrier, which is
supposed to offload 99 per cent to private investors, Onatracom, which
is seeking to sell 100 per cent and Bank of Kigali, which hopes to
sell the remaining 80 per cent.

RwandAir is borrowing heavily to invest in new aircraft and other
areas with the most recent being the funds government borrowed through
the euro bond.

Onatracom, the oldest transport company in the country and the only
public one, has been struggling with heavy losses due to mismanagement
of funds.

"The privatisation campaign was put in place to promote private sector
participation, especially in business and operations, in terms of
expansion and value addition," said Naphtal Kazoora, the acting head
of assets and business management department at RDB.

For the past five years, Rwanda's economy grew at an average of eight
per cent, save for last year when it declined to 6.5 per cent,
attributed to the aid cuts of 2012. However, the government is
projecting a growth of 11.5 per cent by 2020 and the private sector is
the key driver.

Mr Kazoora added that, with high appetite for investors in most
sectors of the economy, the target is not overambitious. However, the
local private sector is still not as competitive as its regional
counterparts and the government is still the biggest employer.

Most vibrant

The tea sector is the most vibrant and successful in terms of
privatisation, with most tea estates sold and more lined up for sale
than in any other sector.

In 2012, Rwanda Tea Investment (RTI) took control of Mulindi and
Shagasha tea factories. The firm, formed by UK-based investors,
controls 60 per cent of Shagasha and the government 10 per cent and
the remaining 30 per cent is owned by farmers.

In Mulindi, Rwanda's oldest tea factory, RTI owns 55 per cent and
farmers the remainder.

http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/Rwanda/Business/Rwanda-s-private-sector-close-to-controlling-economy-/-/1433224/2226102/-/ocr77gz/-/index.html&q=Rwanda's+private+sector+close+to+controlling+economy&sa=X&ei=tR4SU-mhGu3I0gGJqoDYBA&ved=0CCQQFjAB

--
SIBOMANA Jean Bosco
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