Economic Roundup:
- Rwandan President Kagame has maintained that the African continent needs its own African Common Currency backed by its resources not by Euro and Dollars. He further stated that as long as the European Union (EU) and the United States of America (USA) continue to control Africa’s money, they will forever control their economies and limit the growth potential of the continent.
- Rwanda’s economy has been forecasted to grow at a slightly slower pace this year before picking up speed again in 2024 and 2025. Finance Minister Uzziel Ndagijimana said that the economy was forecast to grow 6.2% in 2023 and around 7.5% in 2024 and 2025.
- The government of Rwanda is set to commit over $16 million towards implementing a five-year project to boost fish farming in the country. Investing in fish production is expected to reduce the trade deficit. Fish production from fish ponds has increased from 461 tonnes in 2020 to 490 tonnes in 2021. Thus, with support and new investment, the production is expected to increase from 1, 543.6 tonnes expected in 2022 to 2,000 tonnes by end of this year.
SECURITY
- Kagame has accused the UN peacekeeping mission in D.R. Congo (MONUSCO) of failing to and urged the international community to audit the mission’s competencies seeing as it has been active in the nation for over two decades and still conflict prevails.
- Movement at the border posts between Rwanda and DR Congo in Rubavu District was brought to a standstill by riots in the Congolese border town of Goma. The riots also targeted Rwandans living in Goma and Kinyarwanda-speaking Congolese, accusing them of collaborating with the M23 rebel group.
- Israel’s RAFAEL Advanced defense systems Ltd has set its first HQ on the African continent in Kigali. Rwanda has previously acquired Israeli-made military equipment. Rwanda continues to heavily invest in its defense increasing propping herself to be a military giant in the African continent.
POLITICAL
- Rwanda has renewed its partnership with the United Nations High Commissioner for Refugees (UNHCR) and the European Union (EU) for hosting asylum-seekers evacuated from Libya. The EU announced $23.6 million in additional funding to support the transit center through 2026 in a bid to continue ensuring that the asylum-seekers receive the necessary services to live decent lives at the transit center pending their resettlement.
- President Kagame has made inroads at reestablishing bilateral cooperation with Burundi. A meeting between Kagame and his Burundian counterpart Evariste Ndayishimiye was held after the Extra-Ordinary Summit of the EAC Heads of State. It is the first meeting between Rwandan and Burundian presidents since 2015 when the two countries’ relations soured, following a coup attempt to oust Burundi’s former President, Pierre Nkurunziza.
