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This milestone marks a significant step for Rwanda’s capital markets at a time when the global demand for responsible investing and sustainability is rapidly increasing.

At the launch event, Pierre Celestin Rwabukumba, the CEO of RSE, highlighted the importance of these guidelines in positioning Rwanda as a competitive player in the global investment landscape. He explained that ESG is no longer just a trend but a foundational element for attracting investments.

'ESG is not just a trend but a fundamental pillar for attracting global investment. By adopting ESG reporting, we are ensuring that Rwanda remains competitive and aligned with international standards for responsible investing,' Rwabukumba said.

The guidelines, developed over the past two years in collaboration with various stakeholders, aim to support companies listed on the Stock Exchange as well as those beyond it.

Rwabukumba further emphasized that while the global emphasis on ESG is growing, the RSE is taking proactive steps to ensure that local companies are not left behind. He assured companies that the guidelines are flexible, offering enough time for them to align with the new framework.

'ESG has become dominant in investment decisions. A lot of investors today are not just focusing on profitability. They are looking at the environmental, social, and governance impact of businesses,' he noted.

At the launch event, Piene-Celestin Rwabukumba, the CEO of RSE addressed the audience.

Dr. James Ndahiro, the Technical Advisor from the Capital Market Authority (CMA), reinforced the significance of sustainability for Rwanda’s future economic development. In his address, he noted that markets must lead the way in transparency and accountability.

“Our markets must lead the way in transparency and accountability. ESG reporting is a cornerstone for creating businesses that not only deliver financial returns but also contribute to environmental stewardship and social development,' Ndahiro stated.

Bhongolwethu Sonti, the Africa Program Manager at GRI, shared his insights into how companies can implement ESG reporting frameworks.

'Effective ESG reporting allows businesses to align their operations with global sustainability goals while addressing local challenges. This is how we create resilient and impactful organizations,' Sonti explained.

He also underscored the importance of strong corporate governance as the foundation for successful ESG integration, emphasizing that businesses must ensure transparency, accountability, and ethical decision-making at all levels.

Bhongolwethu Sonti, the Africa Program Manager at GRI, shared his insights into how companies can implement ESG reporting frameworks.

Sonti praised Rwanda’s commitment to sustainability, noting that the country’s strong governance structures make it an ideal environment for the integration of ESG principles.

He encouraged businesses to embrace the guidelines not merely as a compliance requirement but as an opportunity to innovate and adapt to a rapidly changing global landscape.

The launch event was preceded by a one-day training session facilitated by Protos Capital LLP, where Loise Wangui Musyoka, Managing Partner at Protos, spoke about the importance of integrating ESG into business strategy.

'ESG reporting is more than a compliance exercise; it is a powerful tool for driving innovation and building trust with stakeholders. These guidelines are not just a process flow document; they are a how-to guide that provides templates and tools to help companies integrate ESG into their operations,' Musyoka remarked.

She addressed concerns regarding the cost of implementing ESG practices. While acknowledging that there are initial costs, especially for upskilling internal teams and adapting business operations, she argued that the cost of non-compliance could be far higher in the long run.

Loise Wangui Musyoka, Managing Partner at Protos, spoke about the importance of integrating ESG into business strategy.

Jean Claude Uwizeyemungu, the Managing Director, Mahwi Grain Millers Ltd, one of the companies listed on the RSE said that the launch of these ESG guidelines is a critical step for Rwanda, not only in attracting investments but also in positioning the country as a leader in sustainable business practices in Africa.

With this new framework in place, Rwanda, through RSE, becomes the seventh member of the Africa Stock Exchange Association and only the second in the East African region. It joins countries including South Africa, Botswana, Kenya, Egypt, Morocco and Eswatini.

This shows that capital markets are slowly but surely moving towards meeting the growing global demand for transparency, accountability, and sustainability in business operations.

Jean Claude Uwizeyemungu, the Managing Director, Mahwi Grain Millers Ltd, one of the companies listed on the RSE said that the launch of these ESG guidelines is a critical step for Rwanda.

The launch event was preceded by a one-day training session facilitated by Protos Capital LLP.

The Rwanda Stock Exchange (RSE), in collaboration with the Global Reporting Initiative (GRI), officially launched its Environmental, Social, and Governance (ESG) Reporting Guidelines on December 19, 2024.

Sam K Nkurunziza

Having already served time in detention, the remainder of his sentence will be carried out under house arrest with electronic surveillance. The verdict aligns with the prosecution’s request. His legal representative indicated that an appeal is likely.

“He is in a state of shock. From the outset, he has maintained his innocence. They did not take into account the fact that he has been manipulated, the fact that he has been forced to do things beyond his control,” stated lawyer Mbeko Tabula.

The trial proceeded without the presence of Paul, who is now out of contract and searching for a new club.
The judge instructed Mathias and five other men to face trial following an investigation into whether Paul was subjected to extortion by Mathias and childhood friends in 2022.

Last month, Mathias was put on trial “for the offences of attempted extortion and criminal conspiracy.” The five co-defendants demanded 13million euros (£10.7m) from the 31-year-old France player, who was confronted at gunpoint by masked men in March 2022.

Mathias Pogba is a brother of World Cup winner and former Manchester United midfielder Paul.

The defendants persistently intimidated Paul, asserting that he should have supported them after his rise to international football stardom. They were charged with extortion, abduction and confinement to facilitate a crime, as well as criminal conspiracy.

Roushdane K., the alleged mastermind behind the blackmail, has been handed an eight-year prison sentence. The other defendants also received jail terms.

Court documents reveal that Paul suffered financial losses amounting to 197,000 euros (£164,000) and emotional distress valued at 50,000 euros (£41,000).

All defendants, excluding Mathias, were ordered to collectively pay this sum to the ex-Juventus player. During the investigation, Paul admitted to paying 100,000 euros (£83,000) to the organized group, which included his own brother.

France’s Pogba, 31, was confronted at gunpoint by masked men in March 2022.

IGIHE

The community outreach, led by members of the Parliamentary Forum on the Prevention and Denial of the Genocide Against the Tutsi (AGPF), focused on five districts that had been identified as areas where Genocide ideology and acts of violence against survivors had been prevalent.

These districts are Nyaruguru, Ngoma, Karongi, Rusizi, and Ruhango. The goal of the initiative is to encourage local communities to stand united against division and to actively support the principles of unity and reconciliation.

Senator Prof. Jean Pierre Dusingizemungu, the Forum President explained to IGIHE that the visits were aimed at raising awareness and building local capacity to prevent the recurrence of genocide ideology.

“We are not only sending a message of support and comfort to the survivors but also urging the people to hold fast to the values that promote unity and equality among Rwandans. We must ensure that the progress we’ve made in promoting unity and peace in Rwanda is not reversed,” he said.

The forum’s members engaged in discussions with local leaders, youth, women, and survivors of the 1994 Genocide against the Tutsi to outline strategies for addressing and eliminating any remnants of divisive rhetoric or actions.

in the coming days, AGPF plans to continue its outreach in all districts.

These efforts are supported by educational campaigns and clear calls for unity, stressing that any attempt to create divisions or diminish Rwanda’s progress toward peace must be resisted.

Prof. Dusingizemungu emphasized that the parliament’s actions are a direct response to the recent incidents of violence linked to genocide ideology.

“We are sending a clear message that these acts will not be tolerated. Our objective is to make sure that such destructive ideologies are rooted out from society and that every Rwandan feels secure and respected,” he asserted.

Going forward AGPF plans to continue its outreach in all districts. In early 2025, the forum will expand its efforts by targeting youth in different age groups, teaching them the dangers of genocide ideology and reinforcing the importance of unity and national development.

This initiative is part of Rwanda’s ongoing commitment to ensuring that the horrors of the past are never repeated.

The community outreach, led by members of the Parliamentary Forum on the Prevention and Denial of the Genocide Against the Tutsi (AGPF).

IGIHE

Speaking to Imvaho Nshya, RCS Spokesperson CSP Thérèse Kubwimana addressed accusations raised in an October 2024 Human Rights Watch report. The report alleged cases of torture and unlawful detentions, including claims from a detainee at Rubavu Prison who reported being subjected to beatings and electric shocks.

Kubwimana firmly denied these allegations, emphasizing that RCS does not condone such acts and whenever committed, these are personal choices and not directives from RCS or the government.

'No leader assigns duties that include torturing others. Those found guilty of such actions are held accountable in courts of law,' she stated,

She criticized the tendency to generalize individual misconduct as institutional failure and expressed disappointment over narratives portraying correctional facilities negatively without verified information.

'It is deeply troubling because those making these claims have never visited our facilities to see for themselves. I can confidently say our prisons provide good living conditions, contrary to these allegations,' she said.

Highlighting the credibility of RCS, Kubwimana pointed out that its personnel are entrusted with responsibilities in United Nations peacekeeping missions in Sudan and the Central African Republic, where they work alongside Rwanda’s army and police forces.

'A country accused of systemic torture would not be selected to provide peacekeepers who promote human rights and dignity,' she noted.

RCS continues to improve inmate welfare through programs like farming and livestock management, which contribute to dietary needs within facilities. Vulnerable prisoners and children in custody benefit from milk produced by RCS-owned cows, reflecting a positive commitment to humane incarceration.

Meanwhile, the government is taking further steps to enhance reintegration for inmates nearing the end of their sentences. Dr. Emmanuel Ugirashebuja, Minister of Justice and Attorney General recently announced the establishment of Rwanda’s first social reintegration center, set to open in February 2025 in Rwamagana District.

The facility, commonly referred to as a halfway home, will initially accommodate 250 female inmates, allowing them to transition back into society by engaging in day-to-day activities outside the center while returning in the evenings. This initiative is aimed at reducing recidivism and supporting a smooth reintegration process.

Ugirashebuja shared that the halfway home will also offer civic education and vocational training. If successful, the program will be expanded to other regions in the country.

With these measures, Rwanda demonstrates its dedication to balancing accountability, rehabilitation, and reintegration for a fair and humane correctional system.

CPS Therese Kubwimana says that RCS does not condone acts of torture or indiscipline.

IGIHE

Speaking at his annual news conference on Thursday, Putin said, 'If someone takes part in the election and gains legitimacy, we are ready to talk to him, including Volodymyr Zelensky.'

Putin’s remarks signal an openness to dialogue, but he emphasized that such talks would take into account the evolving situation on the ground, referencing the Istanbul agreements as a potential framework for discussions.

These agreements were initially brokered in March 2022 during peace talks between Russia and Ukraine, although they ultimately failed to bring about a ceasefire.

The war in Ukraine, which began with Russia’s invasion on February 24, 2022, has caused widespread destruction, with tens of thousands of casualties and millions displaced.

The conflict, rooted in long-standing tensions between the two countries, has escalated into a brutal war, marked by fierce battles, significant international sanctions on Russia, and ongoing geopolitical ramifications.

The recent comments from Putin come amidst increasing global pressure for a peaceful resolution and a series of military setbacks for Russian forces, which have prompted discussions about potential negotiations.

However, given the entrenched positions on both sides and the complexities of the conflict, prospects for meaningful peace talks remain uncertain. Ukraine is scheduled to hold its next presidential elections in March 2024, despite the ongoing conflict.

The war in Ukraine, which began with Russia’s invasion on February 24, 2022, has caused widespread destruction, with tens of thousands of casualties and millions displaced.

IGIHE

The first phase of the centre, currently under construction in Rwamagana District, is almost complete. Initially, it will accommodate up to 250 female inmates.

Dr. Ugirashebuja shared the update at the Annual Conference and General Meeting of the Rwanda Bar Association (RBA) on December 19, 2024.

“The first phase is nearly finished, and we plan to begin operations by hosting up to 250 female inmates in February 2025,” he said. “If successful, we intend to expand the program to other areas across the country.”

The halfway home will provide inmates with the opportunity to reintegrate into society before their full release.

Dr. Ugirashebuja explained that the program will allow inmates nearing the end of their sentences to live at the centre, where they can go out during the day and return in the evening. This will help them adapt to life outside of prison.

“Inmates will start adjusting to life outside of prison and learn how to successfully reintegrate into society,” he explained. “This gradual reintroduction will help reduce recidivism.”

The centre will offer a range of programs, including civic education and vocational skills training to help inmates live independently after their release.

Families will also be allowed to visit their loved ones, supporting their reintegration into Rwandan society.

Dr. Ugirashebuja also emphasized the importance of lawyers in promoting alternative dispute resolution and restorative justice practices.

The Minister of Justice and Attorney General, Dr. Emmanuel Ugirashebuja, has announced that Rwanda will open a social reintegration centre, known as a ‘halfway home,’ in February 2025.

IGIHE

He was speaking on December 19, 2024, at the opening ceremony of the Eastern Africa Standby Force (EASF)’s 33rd Policy Organs meeting running from 16 to 21 December 2024 in Kigali, Rwanda.

'We must continue working together across political, security, development, and humanitarian pillars, deepening our partnerships as member states, regional economic communities, mechanisms, and our umbrella organisation, the African Union, to effectively contribute to peace, security, and stability,' Marizamunda said.

The Minister further urged EASF member states to enhance their response systems, adapt them to tackle existing challenges, and fully utilise their resources to foster peace and security across the region and the continent.

The Eastern Africa Standby Force (EASF) Chiefs of Defence who joined the Experts Working Group at the meeting, reaffirmed their commitment to member states’ pledges and acknowledged the valuable suggestions and recommendations provided by the experts during three days of deliberations.

Speaking on behalf of the Committee of Chiefs of Defence Staff (CDS) of the EASF, General MK Mubarakh, the RDF Chief of Defence Staff, assured that the EASF Chiefs of Defence Staff remain committed to providing crucial guidance to improve the force’s operational readiness.

Brig Gen (Rtd) Paul Kahuria Njema, the EASF Director, commended the Experts Working Group for their exchange of ideas and productive recommendations, which will significantly contribute to maintaining EASF’s readiness and enhancing conflict prevention efforts.

The 33rd Policy Organs Meeting (POM) coincides with EASF’s 20th anniversary, celebrated under the theme 'Two Decades of Commitment to Promote Regional Peace and Security.'

The organisation, now operational under the African Union’s umbrella, comprises ten member states.

Rwanda’s Minister of Defence, Juvenal Marizamunda has praised the strong partnerships among member states in their ongoing efforts to promote peace and stability.

The opening ceremony of the Eastern Africa Standby Force (EASF)’s 33rd Policy Organs meeting took place at Kigali Convention Centre on December 19, 2024.

The 33rd Policy Organs Meeting (POM) coincides with EASF’s 20th anniversary, celebrated under the theme 'Two Decades of Commitment to Promote Regional Peace and Security.'

General MK Mubarakh, the RDF Chief of Defence Staff spoke on behalf of the Committee of Chiefs of Defence Staff (CDS) of the EASF.

IGIHE

The team retained this spot from the previous rankings released in November 2024, following their strong showing in the Africa Cup of Nations qualification matches.

Rwanda’s ranking remains unchanged, holding steady at 1136.06 points.

On the global stage, Argentina remains in the top spot, followed by France, with England and Brazil completing the top four.

In Africa, the leading teams are Morocco (14th), Senegal (17th), Egypt (33rd), Algeria (37th), and Nigeria (44th).

Among Rwanda’s neighboring countries, the Democratic Republic of Congo is ranked 61st, Uganda 88th, Tanzania 106th, Kenya 108th, and Burundi sits in 139th place.

Liberia saw the biggest improvement, gaining 34.47 points and climbing to 142nd place. In contrast, Equatorial Guinea lost 47.53 points, dropping 10 positions to 89th.

Last month, Hong Kong experienced a notable rise in the rankings, largely due to victories over Mongolia and Chinese Taipei, despite a lack of international matches for national teams.

Rwanda’s national football team has maintained its position at 124th in the latest FIFA World Rankings published on Thursday, December 19, 2024.

IGIHE

Airtel Rwanda Managing Director, Emmanuel Hamez, announced the milestone during a press briefing at the company headquarters in Remera on Wednesday, December 18, 2024.

The company has already registered 1.5 million smartphones enjoying voice over 4G services, with 30% of Voice 3G traffic now switched to the new technology.

The VoLTE service, launched on November 19, offers customers HD-quality voice calls, faster call setups, and the ability to browse data while on a call, without additional charges.

Hamez noted that 4G technology has revolutionized the traditional voice call model by converting voice calls into data, making them more affordable.

“The concept of minutes or duration is no longer valid. Now, voice calls, like sending a photo, consume data, not minutes or seconds. For instance, a one-hour non-stop call equates to 15 megabytes of data. This is a significant shift in the charging model. We’re no longer selling minutes, but data,” the MD explained.

The company expects to reach two million subscribers early next year.

Currently, Airtel Rwanda is working with phone manufacturers like Samsung, Infinix, and Tecno to ensure broader compatibility with the new technology. Hamez expressed optimism about ongoing discussions and expects more smartphones to be supported in the coming months.

To enhance network accessibility, the company has invested $63 million in infrastructure, adding 200 new transmission stations to its network, bringing the total number of stations to over 1,000. This expansion now covers 95% of the Rwandan population.

Airtel Rwanda is the first telco to introduce VoLTE technology in Rwanda. The move aims to improve customer experience and increase market share, which currently stands at 38.1% with 5.5 million subscribers.

With the growing adoption of 4G voice calls, the company plans to phase out 3G technology by the end of 2025 and 2G by the end of 2026, aligning with the government’s National Broadband policy.

The cost of smartphones remains a key challenge during the transition, but Hamez noted that the company would continue to work with other partners to increase access to affordable smartphones in rural and underserved populations.

In October last year, Airtel Africa collaborated with the Rwandan government to introduce the country’s most affordable 4G smartphone as part of the ConnectRwanda initiative.

Priced at 20,000 Rwandan Francs, the budget smartphone comes with a monthly plan of 1,000 Rwandan Francs that includes 1GB of data and unlimited calls daily.

Airtel Rwanda Managing Director, Emmanuel Hamez, announced the milestone during a press briefing at the company headquarters in Remera on Wednesday, December 19, 2024.

Airtel Rwanda Managing Director, Emmanuel Hamez, and Rugambwa Lamuel, the Regulatory and Legal Director at Airtel Rwanda, addressed the press.

Airtel Rwanda Managing Director, Emmanuel Hamez, announced the one million subscribers milestone during a press briefing at the company headquarters in Remera on Wednesday, December 19, 2024.

Rugambwa Lamuel, the Regulatory and Legal Director at Airtel Rwanda, also attended the press conference.

Wycliffe Nyamasege

Trump told Fox News he was “totally against” a proposed government funding bill, putting the stopgap measure, which would keep the government open until mid-March, in danger.

Congress has until Friday night to prevent a funding gap, as lawmakers passed a continuing resolution in September to extend government funding through December 20.

The new package, unveiled on Tuesday, mainly allows the government to maintain its current spending levels for the next three months, providing lawmakers with additional time to negotiate new spending bills.

It also includes 100 billion U.S. dollars in disaster relief for recovery from major hurricanes and the collapse of Baltimore’s Key Bridge, a one-year extension of the farm bill with an extra 10 billion dollars in aid for farmers.

With some hardliners opposing the stopgap measure and a slim House majority, Republicans will once again need Democrats’ support to approve government funding.

“We should pass a streamlined spending bill that doesn’t give the Democrats everything they want,” Vice President-elect and Senator JD Vance said in a joint statement with Trump.

“The only way to do that is with a temporary funding bill without Democrat giveaways combined with an increase in the debt ceiling,” said the statement, pressuring the Democrats to cooperate on a debt ceiling increase now.

The latest statement drew criticism from Democrats, including House Minority Leader Hakeem Jeffries.

“House Republicans have been ordered to shut down the government. And hurt the working class Americans they claim to support. You break the bipartisan agreement, you own the consequences that follow,” he said on social media platform X.

U.S. President-elect Donald Trump told Fox News he was “totally against” a proposed government funding bill, putting the stopgap measure, which would keep the government open until mid-March, in danger.

Xinhua