Author: admin

Speaking at the second edition of the Inclusive FinTech Forum in Kigali on Tuesday, February 25, the Head of State highlighted the need for a secure and regulated environment to not only attract investment but also enhance financial inclusion and build resilience in Africa’s rapidly evolving financial sector.

In his keynote address, Kagame noted that Africa’s young, tech-savvy population presents a unique opportunity for innovation in the financial sector.

“Indeed, with our continent’s young and tech-savvy population, Africa can compete with the rest of the world and successfully innovate,” he said.

“FinTechs continue to dominate, with the number of companies tripling in recent years. These enterprises are fundamentally shaping our financial services sector, especially with mobile money and remittance services.”

The president pointed out that regulations must evolve to keep up with this rapid growth, particularly to address challenges like cybercrime and fraud.

“We need a harmonized regulatory landscape, and we must come together to combat cybercrime and fraud,” President Kagame remarked.

He also called for closer cooperation between public and private sectors to unlock opportunities through innovation.

“We can unlock many more opportunities through public-private partnerships and by harnessing the power of artificial intelligence,” he added.

The Head of State also discussed the need for Africa to develop its own regulatory frameworks and infrastructure, highlighting Rwanda’s commitment to digital infrastructure and skills development as key drivers of the country’s economic progress.

“Moving forward, creating an enabling environment for business and skills development should be our number one priority,” he said.

Kagame also addressed challenges facing Africa, including the growing brain drain of skilled professionals and financial exclusion, particularly among women in the informal economy. He argued that the continent must take ownership of its own development, rather than relying on external support.

'Taking ownership of our development is not something we can ask others to do for us. Business founders also need to do their part and gain the confidence of investors,' Kagame said.

The three-day Inclusive FinTech Forum brings together global leaders, entrepreneurs, and innovators, providing a platform to explore solutions for the continent’s economic challenges through digital finance.

Among the attendees was Alvin Tan, Minister of State for Trade, Industry, Culture, Community, and Youth in Singapore.

In his remarks, the minister celebrated the longstanding relationship between Rwanda and Singapore as the two countries mark 20 years of diplomatic ties.

He praised Rwanda’s rapid development in recent years, expressing his pleasure at seeing Rwanda becoming the “Singapore of Africa.”

“We admire and respect Rwanda for your resilience and outstanding achievements in economic and technological development,” the minister remarked.

Singapore is highly regarded for its exceptional development, driven by strong governance, strategic economic diversification, and world-class infrastructure. Under visionary leadership, particularly that of Lee Kuan Yew, the country transformed from a small port city into a global financial hub, maintaining one of the highest GDPs per capita in the world, valued at 501.4 billion USD as of 2023.

Speaking at the second edition of the Inclusive FinTech Forum in Kigali on Tuesday, February 25, the Head of State highlighted the need for a secure and regulated environment to not only attract investment but also enhance financial inclusion and build resilience in Africa’s rapidly evolving financial sector.

The Inclusive FinTech Forum brings together global leaders, entrepreneurs, and innovators, providing a platform to explore solutions for the continent’s economic challenges through digital finance.

Wycliffe Nyamasege

According to a report by The New York Times, Tshisekedi, whose government has struggled to retain control over territories recently overtaken by the M23, is negotiating trade agreements for the DRC’s prized minerals.

The Congolese head of state’s goal is to leverage the natural resources—among the most abundant in the world—to garner assistance from Western powers, hoping they will apply more pressure on Rwanda, which he accuses of backing the M23 rebels. Rwanda has repeatedly denied the claims.

The DRC is rich in minerals, including cobalt, copper, diamonds, and gold, and has vast untapped resources valued at an estimated $24 trillion. Cobalt, in particular, plays a crucial role in global supply chains, as the DRC provides about 60% of the world’s cobalt reserves.

Tshisekedi’s offer aims to entice the U.S. and European countries into becoming more involved in the region, with the hope of tipping the scale in the DRC’s favour in its battle against M23 in the wake of the capture of Bukavu and Goma, key cities in eastern Congo.

Tshisekedi’s negotiations come at a time when China has made significant inroads into the DRC’s mining sector, with many of the country’s mineral resources controlled by foreign entities.

This has fueled ongoing tensions, as the local population continues to live in poverty despite the wealth generated from mining activities. Congo’s mineral wealth has often been siphoned off by foreign companies, with only a fraction of the proceeds benefiting the Congolese people.

The DRC’s mineral wealth has long been a point of contention, especially regarding Rwanda’s alleged role in supporting the M23 rebels, a claim Tshisekedi has repeatedly made.

Rwanda, for its part, denies involvement, and M23 spokesperson Lawrence Kanyuka has refuted Tshisekedi’s assertion that the group is motivated by the DRC’s mineral resources.

In past media statements, Kanyuka stated that M23’s struggle is not for control of valuable land but for survival, accusing Kinshasa of oppressing ethnic groups, particularly the Kinyarwanda-speaking communities in the east, and denying them recognition as true Congolese citizens.

Meanwhile, reports of Tshisekedi’s latest overtures come just days after the U.S. government imposed sanctions on General (rtd) James Kabarebe, Rwanda’s Minister of State for Regional Integration in the Ministry of Foreign Affairs, accusing him of facilitating connections between Rwanda and M23.

The Rwandan government strongly condemned the sanctions, terming them “unjustified” and counterproductive to regional peace efforts.

'The sanctions are unjustified. The international community should support, not undermine, ongoing regional efforts toward a political solution. If sanctions could resolve the conflict in eastern DRC, we would have had peace in the region decades ago,' Government Spokesperson Yolande Makolo said.

Rwanda has consistently argued that the crisis in eastern Congo is rooted in deeper historical and governance issues that require political solutions rather than external pressure.

President Félix Tshisekedi, whose government has struggled to retain control over territories recently overtaken by the M23, is negotiating trade agreements for the DRC’s prized minerals.

IGIHE

The soldiers, who were part of the Southern African Development Community Mission in the Democratic Republic of Congo (SAMIDRC), sustained severe injuries in recent clashes with the M23 rebel group in the battle to capture Goma and Sake.

A total of 194 wounded troops were evacuated from Goma to Rubavu, Rwanda, on Monday before being escorted to Kigali International Airport for repatriation.

Among them, 129 were from the Republic of South Africa Battalion, 40 from the Malawi Battalion, and 25 from the Tanzania Battalion.

Some of the wounded soldiers, who suffered life-altering injuries, were confined to wheelchairs, having lost their legs in battle. Others bore signs of grenade injuries, with reports of a young soldier losing his eyesight.

The SANDF said it is working with other stakeholders to ensure the safe return of its remaining wounded personnel during the course of the week.

“The South African National Defence Force (SANDF) confirms that the group of critically injured soldiers who needed urgent medical attention have been successfully repatriated from the Democratic Republic of the Congo (DRC) and will receive high-level medical care. The remainder are scheduled to arrive in South Africa during the course of the week,” SANDF said in its statement.

Reports indicate discussions over the soldiers’ repatriation had been ongoing for two weeks, with the United Nations mediating talks with M23 rebels, who have long demanded the withdrawal of SADC forces. Delays in the evacuation process raised concerns, as soldiers endured worsening conditions at the Sake military base.

The evacuation follows mounting calls for South Africa to withdraw from the mission, with 18 SAMIDRC troops killed in recent confrontations, including 14 from South Africa.

The deaths of two Malawian and two Tanzanian soldiers in battles around Sake and Goma have further fueled debates over the future of the SADC mission in the DRC.

Pressure is now mounting on South African President Cyril Ramaphosa to withdraw troops, with Parliament questioning the justification for the country’s involvement in the conflict. Critics argue that the deployment has placed South African soldiers in unnecessary danger, sacrificing lives in a foreign conflict driven by private interests.

The soldiers who were part of the Southern African Development Community Mission in the Democratic Republic of Congo (SAMIDRC) sustained severe injuries in recent clashes with the M23 rebel group during the battle for Goma and Sake.

The injured soldiers were transported to Kigali International Airport on Monday evening.

Wycliffe Nyamasege

He presented his credentials alongside the ambassadors of Ghana, Slovenia, France, Nepal, and Mongolia in a ceremony that took place at the Royal Palace of Madrid on Monday, February 24.

Nkulikiyimfura, who also serves as Rwanda’s ambassador to France, Italy, Monaco, and Portugal, expressed his appreciation for the opportunity to strengthen diplomatic ties with Spain.

“It has been an honour to present my credentials to His Majesty King Felipe VI,” he said. “I express my deep gratitude to His Majesty and his Government for the solid cooperation with Rwanda in multiple sectors.”

Spain’s government reaffirmed its commitment to diplomatic traditions, noting that the presentation of credentials is a longstanding practice dating back to the 18th century.

The ceremony, conducted with full honors, plays a key role in enhancing bilateral ties between Spain and its global partners.

The Letters of Credence formally recognize an ambassador as the highest diplomatic authority of their nation in the host country.

Nkulikiyimfura’s appointment is expected to further enhance Rwanda-Spain relations in various sectors.

His Majesty the King receives the Credential of François Nkulikiyimfura, Ambassador of the Republic of Rwanda to Spain.

King Felipe converses with the Ambassador of the Republic of Rwanda to Spain after receiving the Letters of Credence.

The ceremony, conducted with full honors, plays a key role in enhancing bilateral ties between Spain and its global partners.

Wycliffe Nyamasege

Initially scheduled for earlier completion, the project faced unforeseen delays. Maurice Rugaba, Branch Manager for Rwanda Energy Group (REG) in Rutsiro, confirmed to IGIHE that the plant’s output will be added to the national grid by May 2025.

The construction has provided daily employment for over 200 workers over the past two years. The project is now in its final stages, with only the installation of electricity-generating turbines remaining.

The turbines have already arrived on-site, and experts from the supplying company are expected soon to complete the installation.

According to the Energy Sector Policy released by the Ministry of Infrastructure in February 2025, Rwanda’s electricity production capacity has reached 406.4 megawatts.

The Kore hydropower plant’s contribution will provide electricity for approximately 1,000 to 1,500 households.

The entire project is expected to cost over 2.3 billion Rwandan francs upon completion.

The hydropwer plant is expected to become operational by May 2025.

IGIHE

During these operations, soldiers from the Paratroopers Brigade reportedly discovered various weapons, including rifles, ammunition, and other military supplies left behind by former Syrian regime forces. The military confirmed that all seized materials were either taken into custody or rendered unusable.

The Israeli military stated that similar operations have been conducted regularly since December, resulting in the removal of numerous weapons and explosives.

A battalion commander in the 474th Brigade, who was not identified, explained in a military-released video that the goal of these raids is to eliminate Syrian army weapon stockpiles and operational capabilities.

He noted that previous operations uncovered rockets, explosives, landmines, as well as tanks and armored personnel carriers, which were subsequently dismantled.

This announcement follows a statement from Israeli Prime Minister Benjamin Netanyahu, who emphasized that Israeli forces would maintain a long-term presence on Mount Hermon and in the buffer zone along the Syrian border. He also reiterated the call for a demilitarized zone south of Damascus.

In December of the previous year, after the collapse of Bashar al-Assad’s government, Israel deployed ground forces into the buffer zone, a demilitarized area between the Israeli-controlled Golan Heights and Syria.

Monitored by the United Nations Disengagement Observer Force since the 1974 Agreement on Disengagement, the zone has been a focal point of tensions.

Despite international criticism, Israel later secured what it described as key strategic positions on the Syrian-controlled side of Mount Hermon, justifying the move as a measure to safeguard Israeli civilians.

Israeli troops have carried out operations targeting Syrian army bases, confiscating or destroying military equipment found on-site.

IGIHE

The resolution passed with 10 votes in favor, none against, and five abstentions, including France, Britain, Denmark, Greece, and Slovenia.

Reaffirming the UN’s mission to maintain global peace and resolve conflicts, the resolution calls for an immediate end to hostilities and mourns lives lost without assigning blame to Russia.

Acting U.S. Ambassador to the UN Dorothy Shea emphasized that while the resolution is not a “peace deal,” it provides “a path to peace.”

UN Under-Secretary-General for Political and Peacebuilding Affairs Rosemary DiCarlo stressed that peace must be “just, sustainable, and comprehensive.”

Earlier, the UN General Assembly rejected the U.S. draft and instead approved a resolution submitted by Ukraine and European allies, reaffirming Ukraine’s sovereignty and territorial integrity while advocating for a just and lasting peace.

UN Security Council resolutions are legally binding under international law.

The war between Russia and Ukraine erupted three years ago.

IGIHE

Speaking in Port Sudan, Sudan’s Foreign Ministry Undersecretary Hussein al-Amin announced plans to escalate actions, accusing Kenya of hostility.

According to reports, Hussein mentioned submitting a memorandum to the African Union and imposing economic sanctions, including a ban on Kenyan tea imports.

Sudan criticizes Kenya for hosting the RSF’s signing of the Sudan Founding Charter, which aims to establish a parallel government. Hussein condemned this as interference and a violation of international agreements.

Since the conflict between the Sudanese Armed Forces (SAF) and RSF began in April 2023, it has claimed at least 29,683 lives by the end of 2024, according to crisis monitoring reports.

IGIHE

This initiative is a collaboration between the East African Community (EAC) and the Southern African Development Community (SADC), according to a statement released late Monday.

The two regional blocs have selected former Kenyan President Uhuru Kenyatta, former Nigerian President Olusegun Obasanjo, and former Ethiopian Prime Minister Hailemariam Desalegn to lead their joint peace process in the DRC.

This appointment follows a joint summit held on February 8, where the EAC and SADC proposed merging the Nairobi Process, an EAC-led mediation effort led by Kenyatta, with the Luanda Process, a separate peace initiative facilitated by Angolan President João Lourenço under the African Union.

Both peace processes have encountered obstacles. The Nairobi Process has reportedly reached an “impasse,” according to Kenyatta’s spokesperson, Kanze Dena. Meanwhile, a peace summit under the Luanda Process was abruptly canceled in late December.

As part of their renewed efforts, the EAC and SADC have scheduled a ministerial meeting for February 28.

The M23 rebels have taken control of multiple towns, including Goma and Bukavu, the capital cities of North Kivu and South Kivu provinces, respectively.

The eastern DRC remains a battleground for various armed groups. This renewed mediation effort signals a fresh attempt to bring stability to the region, though the success of the initiative will depend on cooperation from all parties involved.

Reports indicate that calm has been restored in all areas captured by the M23 rebel group, which disclosed intentions to continue fighting for the Liberation of DR Congo, shall Kinshasa maintain reluctance on direct negotiations.

former Kenyan President Uhuru Kenyatta is among appointed facilitators.

IGIHE

Chi-Man Kwan was received by President Kagame on February 24, 2025.

According to a statement posted on the official X account of the Office of the President, Village Urugwiro, Kwan is in Rwanda to attend the Inclusive Fintech Forum, an international conference on financial technology, taking place from February 24 to 26, 2025.

President Kagame is expected to officially open the IFF conference on February 25, 2025, at the Kigali Convention Center, where leaders from different sectors around the world will be in attendance.

This forum is organized by the Kigali International Financial Centre (KIFC) in collaboration with Elevandi, a company specializing in financial technology, and the National Bank of Rwanda (BNR). The partnership aims to establish the forum as a key platform for global financial technology solutions.

According to the 2024 FinSope report, financial services in Rwanda reach 96% of the population, with 86% of them accessing these services through mobile phones.

Insights gathered from the more than 3,000 participants attending this forum will help shape discussions at major global conferences, including the Singapore FinTech Festival, Japan FinTech Festival, 3i Summit, and Point Zero Forum.

Raffles Family Office is one of the leading firms in Southeast Asia, providing wealth management and advisory services to high-net-worth families. The firm manages assets worth billions of US dollars.

On the same day, President Kagame also met with Benjamin Fernandes, CEO of NALA; Marlon Chigwende, Founder of Admaius Capital Partners; Madhusudanan Madhu, Co-Founder of M2P; Parag Bhise, CEO of Nucleus Software, and Prajit Nanu, CEO of Nium. The CEOs are in Rwanda for the Inclusive FinTech Forum.

Their discussions revolved around the growing FinTech sector in Rwanda and the various opportunities for partnerships offered by the ease of doing of business in Rwanda.

President Kagame has received Chi-Man Kwan with whom they discussed investment opportunities in Rwanda.

Chi-Man Kwan was received at Urugwiro Village along with his delegation.

IGIHE