Why some people prefer banks to credit associations

Why some people prefer banks to credit associations

While the government of Rwanda is encouraging citizens to form associations to achieve fast social economic development, some traders revealed their reasons for avoiding associations.

Traders form lending and saving associations especially at the place of work that help them improve their businesses. Members give money to one person or two according to agreed time.

Viater ishimwe is a shoe seller at Kimironko market. He said associations are good but they are stressing especially to the small scale entrepreneurs.

“Money is collected daily and every member will pay without any excuse. This means you have to borrow some where if you did not make any sales that day,” he said.

“The first one to get the money mostly benefits more since it’s injected in the business while the last one needs to have stable income to keep business going and contributing every day,” he added.

Annet Wibabara, another proprietor at Kimironko market confirmed that keeping to the standards of an association can lead to business collapse to some traders.

“I used to be a member of an association but pulled out due to financial constraints. Sometimes you could be forced to contribute all the money leaving nothing to buy new items. This created a slow back in my business hence quitting associations,” she lamented.

Richard Nsabimana, who sells potatoes at the same market, disclosed that it’s better to save your money in the bank than joining associations.

“Keeping savings in the bank allows a trader to access a loan in addition to accessing his or her money anytime for business expansion,” he added.

The Government of Rwanda views associations and Cooperatives as a potential vehicle through which the members could create employment and expand access to income-generating activities, develop their business potential, including entrepreneurial and managerial capacities through education and training; increase savings and investment, and improve social well-being with special emphasis on gender equality, housing, education, health care and community development.

Umuryango KORA wiyemeje gukomeza kuba igisubizo cy’ubushomeri ku rubyiruko

Abahagarariye abanyamukorikori bo mu KORA mu turere dutandukanye bitabiriye inama rusange.

Abahagarariye abanyamukorikori bo mu KORA mu turere dutandukanye bitabiriye inama rusange.

Mu nteko rusange yahuje abahagarariye   umuryango w’abanyabukorikori mu gihugu KORA , tariki 16/10/2014,  ubuyobozi bwayo  butangaza ko buzakomeza inshingano nyamukuru ya KORA yo guhugura urubyiruko ibijyanye n’imyuga kugira ngo rwiteze imbere.

Rulinda Innocent,  umuhuzabikorwa wa KORA ku rwego rw’igihugu  yadutangarije ko mu byatumye KORA ijyaho harimo kwigisha imyuga urubyiruko mu rwego rwo kubona imirimo yo gukora, yongeraho  ko ari  inshingano bihaye kandi bazayikomeza.

Rulinda yagize ati: “Twashoboye guhugura abanyamwuga bagera kuri 800 vuba cyane mu mushinga uterwa inkunga na USAID witwa akazi kanoze twahuguye urubyiruko rugera kuri 250, … muri macyje,  abahuguwe  baciye imbere ya za atelier zacu tumaze guhugura abasaga ibihumbi 15.”

Nk’uko abahagarariye KORA mu turere babishimangiye, ngo uyu muryango wagize uruhare rukomeye mu guhesha agaciro  umurimo w’ubukorikori butandukanye none uyu munsi urabatunze n’imiryango yabo.

Murwanashyaka Jean Marie Vianney, ukorera akazi k’ubucuzi mu Karere ka Huye,  ashimangira ko ubukorikori atari umwuga ugayitse kuko abanyabukorikori b’iwabo bageze ku mamoto n’imodoka babikesha ubukorikori.

Ruyonza Edrissa na we w’umunyabukorikori mu Mujyi wa Kigali yunga mu rya mugenzi we agira ati: “Abanyarwanda basuzugura ubukorikori kandi ubukorikori ni umwuga ukomeye utunze benshi nkanjye ndakuze mfite abana mbarihira secondaire nanjye mbayeho neza nta kibazo mfite.”

Abahagarariye  KORA z'uturere ziyemeje gutera inkunga KORA y'urwego rw'igihugu kugira ngo ibashe gukora neza.

Abahagarariye KORA z’uturere ziyemeje gutera inkunga KORA y’urwego rw’igihugu kugira ngo ibashe gukora neza.

Mu myanzuro yavuye muri iyo nama rusange, abanyamuryango biyemeje ko bagiye kugena bakurikije ubushobozi bwa KORA z’uturere amafaranga yo gufasha mu mikorere  KORA ku rwego rw’igihugu. Ikindi ni ukwihutisha imirimo ijyanye n’ubwubatsi bw’inyubako zijyanye n’umujyi zizubakwa mu Mujyi wa Kigali na Musanze.

Mu miturirwa bazazamura mu turere twa Musanze na Kigali izaba igizwe n’ibice bitandukanye birimo aho bamurika ibyo bakora,  ibiro,  icyumba cyo kwigisha urubyiruko imyuga  n’ibindi.  Biteganyijwe ko mu Mujyi wa Kigali bazazamura umuturirwa w’amagorofa atandatu naho i Musanze ni uw’amagorofa atatu.

Iyi nama  rusange  yabereye  mu Mujyi wa Musanze   yitabiriwe n’abahagarariye  amakoperative ya KORA mu Turere twa Rubavu,  Musanze, Nyarugenge na  Huye. KORA yavutse mu 1983 igizwe n’abanyabukorikori  bagera ku 4500  mu gihugu cyose nk’ubuyobozi bubitangaza.

Rutsiro: Babuze ibyashara kubera iminsi mikuru yegereje.

Rutsiro1

Abantu

Abantu bakorera ubucuruzi ku gasantere ka Gakeri  mu murenge wa Ruhango ho mu karere ka Rutsiro batangaza ko batakinjiza amafaranga kubera ko iminsi mikuru ya Noheli n’ubunani yegereje.

Ibi babitangaza nyuma y’uko ngo bamaze kumenyera ko iyo habura amezi atageze kuri 5 ngo iyi minsi mikuru ibe abakiriya bagenda bagabanuka kubera kubika amafaranga bazakoresha muri iyo minsi mikuru.

Nsengimana Monika, umudamu ucururiza mu iduka ririmo ibitenge n’imyaka yatubwiye ko muri iyi minsi badakorera amafaranga menshi, yagize ati” muri iyi minsi amafaranga yarabuze kubera ko ahanini abakiriya baba bitegura iminsi mikuru kandi si iby’ubu bimaze kumenyerwa hano iwacu ku buryo dukingura ariko ari nko kurangiza umuhango”

Si uyu mudamu gusa uvuga ko amafaranga yabuze kuko n’abamotari bakorera aho batangaza ko muri iki gihe batabona amafaranga nka mbere kuko nibura umumotari ngo ashobora kwinjiza amafaranga ari hagati y’ibihumbi 5 n’ibihumbi 7 kandi ari buhe nyiri moto amafaranga ibihumbi 4 bityo ugasanga we ntayo asaguye cyangwa asigaranye make.

Muri aka gasantere nyamara n’ubwo amafaranga bavuga ko yabuze ni kamwe mu dusantere dufite abantu ngo bafite amafaranga menshi ugereranyije n’ahandi muri aka karere ka Rutsiro.

Ubu ngo bizeye kuzongera kubona amafaranga  kuva mu kwezi kwa 2 kugeza mu kwezi kwa 9 umwaka utaha kuko ngo na nyuma y’iminsi mikuru batabona amafaranga kuko abakiriya baba barayakoresheje muri iyo minsi mikuru.

Kutabona icyashara mu mezi mabi ngo bituma bagira igihombo gikabije kubera ko batanga imisoro kandi banakodesha amazu bacururizamo cyangwa gutunga ingo bikaba ingorabahizi.

Agasantere ka Gakeri gafite abacuruzi b’ingeri zose barimo abadandaza, abaranguzi ndetse n’abandi bacuruza  ibintu bitandukanye nk’abacuruza imbuto n’ibindi biribwa.

 

Gatsibo: Gahunda yo Kuremerana yatumye barushaho kwigira

Muri iyi gahunda yo kuremera, urubyiruko ruhabwa ibikoresho ruzifashisha mu guhindura ubuzima

Muri iyi gahunda yo kuremera, urubyiruko ruhabwa ibikoresho ruzifashisha mu guhindura ubuzima

Rumwe mu rubyiruko rwo mu murenge wa Kiziguro ubwo rwahabwaga ibikoreso muri gahunda yo kubaremera

Rumwe mu rubyiruko rwo mu murenge wa Kiziguro ubwo rwahabwaga ibikoreso muri gahunda yo kubaremera

 

Abaturage bo mu Mirenge itandukanye yo mu Karere ka Gatsibo bemeza ko gahunda yo kuremera kuva yaza ubuzima bwabo bwahindutse, kuko mbere wasangaga batagira icyo bakora bikabashora mu ngeso mbi.

Ibi abaturage babivuga nyuma y’aho iyi gahunda ishyiriweho, aho abakoraga umwuga w’uburaya babivuyemo, ababaga mu mihanda hamwe n’abanywaga ibiyobyabwenge bakabireka, ibi byose ngo bakaba barabiterwaga no kubura icyo bakora.

Nyiramwiza Chantal wo mu Murenge wa Kiramuruzi, ni umwe mu bakoraga umwuga w’uburaya ubu akaba yarabiretse. Avuga ko gahunda yo kuremera yayakiranye ibyishimo byinshi ati:”Mbere nakoraga umwuga ugayitse wo kwicuruza, ariko kuva natoranywa mu bagomba kuremerwa nahise mbireka ubu ndi muri koperative y’abadozi b’imyenda.”

Kamana Jean Bosco w’imyaka 21 nawe yunze mu rya mugenzi we, avuga ko iyi gahunda yamukuye kure kuko yari umwana wo mu muhanda, ariko nyuma yo kuremerwa ubu akaba ari muri koperative ikora umwuga w’ububaji.

 

Umuyobozi w’Akarere ka Gatsibo wungirije ushinzwe imibereho myiza y’abaturage Uwimpuhwe Espérance, yemeza ko iyi gahunda yafashije cyane uru rubyiruko nk’uko abenshi ubu babeshejweho n’imyuga bize ubu ikaba ibatunze.

Yagize ati:”Mbere wasanaga koko uru rubyiruko rwariberaga mu ngeso mbi nk’uko babyivugira, ariko abenshi muri bo ubu bamaze guhabwa amahugurwa ndetse n’ibikoresho bibafasha gutangira ubuzima bushya biteza imbere, ku buryo bigaragara ko hari aho iyi gahunda yo kuremera yabakuye”.

Kuremera ni gahunda yashyizweho na Leta binyuze muri Minisiteri y’umurimo, ikaba ikorwa mu turere twose tugize igihugu hagamijwe kuzamura imibereho myiza y’abaturage cyane cyane urubyiruko, aho ruhabwa amasomo n’ibikoresho bibafasha guhindura ubuzima.

 

Muhanga : Gutatanya ingufu ku bikorera ngo  nibyo bituma bagwa mu bihombo bikabije

Mu minsi ishize

Mu minsi ishize bamwe mu bikorera bo mu mujyi wa Muhanga baterejwe cyamunara amazu yabo nyuma yo kunanirwa kwishyura inguzanyo bakuye mu mabanki.

Ibi byatumye bamwe mu bashoramari bacikamo igikuba ku buryo ndetse batanareka gutunga agatoki inyungu nyinshi zakwa ku nguzanyo mu mabanki nk’imwe mu mbogamizi ikomereye ishoramari rikenewe muri uyu mujyi.

Bimwe mu bikenewe gushorwamo imali hari ukubaka amacumbi aciriritse mu mujyi, kubaka amahoteli ndetse no kubaka isoko rya Kijyambere.

m_Bamwe mu bikorera

Bamwe mu bikorera mu karere ka Muhanga bavuga ko bigoye kuzamura ibi bikorwa mu gihe abasabwa kubikora bagifite imbogamizi y’uko bitazaramba.

Athanase Ndagijimana ni umwe mu bikorera mu Karere ka Muhanga asaba ko byaba byiza nk’uko n’ahandi bikorwa ko Leta yashyiraho uburyo bwo kubavuganira muri banki nkuru y’igihugu BNR bakaba bagurizwa ku nyungu irihasi kugirango babashe kubaka ibikorwa remezo bikenewe.

Ndagijimaba avuga ko hari ubwoba bwo kongera kwigabiza amafaranga ya banki mu gihe cyose ababigerageje bahombye kandi bari intangarugero mu mujyi wa Muhanga kuko aribo bari bafite amahoteri akomeye., Agira ati, « kugirango tugere ku ishoramali rikomeye bisaba ko twisunga amabanki, ariko twasabye kuva kera ko banki zitazamura inyungu nyinshi ku nguzanyo, kuko na za banki ziba zayaherewe ku nyungu nke muri BNR ».

Ndagijimana kandi asaba ko habaho uburyo abikorera baganirira hamwe impamvu yaba yihishe inyuma y’ibihombo byibasira abatangije imishinga yo kubaka mu mujyi wa Muhanga.

N’ubwo abikorera bavuga gutya ariko Minisiteri y’ubucuruzi n’inganda yo igaragaza ko ibi bihombo bitari kubaho iyo abikorera bo muri Muhanga bareka kuba ba nyamwigendaho bigerekaho amadeni menshi.

Minisitiri w’ubucuruzi n’inganda François Kanimba avuga ko aho ibihe bigeze ntawe ukwiye kwiyemeza byinshi kuko bimunanira kubirangiza, akabagira inama yo kwishyira hamwe, agira ati, « kwishyira hamwe ni igisubizo kirambye. Hoteli ni umushinga usaba amafaranga menshi, kuko niba ari umushinga usaba miliyari n’igice, wowe ugasanga ufite miliyoni 200 gusa biragoye kwigerekeho ideni rya miliyari na miliyoni magana atatu, kuri ya nyungu ya 18% biragoye ngo uzayabone muri iriya myaka ya mbere yo kwishyura, ariko muri nka batanu byarushaho koroha kwishyura ».

Minisitiri Kanimba avuga ko imiterere y’umujyi wa Muhanga yagombye kuvugururwa hakongerwa amaduka manini hibandwa kwegereza ibicuruzwa abacuruzi bo mu zindi ntara kuko usanga bajya kurangurira i Kigali.

Cyakora ngo IDPRS ya kabiri izarangira umujyi wa Muhanga wubatswemo Parc Industriel, ndetse n’isoko rya Kijyambere hamwe n’amacumbi aciriritse.

Ibi byose ngo bikaba bisaba ingufu zihurijwe hamwe kugirango abikorera babashe koroherwa no gushora imali i Muhanga.

Cyakora Minisitiri Kanimba anenga abikorera b’i Muhanga uburyo usanga buri umwe yihererana ibyo ashaka kugeraho ari nabyo bimuviramo guhomba kuko iyo agize ikibazo abura umugobaka, bitandukanye n’abishyize hamwe.

Minisitiri Kanimba avuga ko atumva ukuntu umujyi nka Muhanga utagira isoko rya Kijyambere kandi ugaragaza umuvuduko mu iterambere, akavuga ko impamvu bidakorwa bishoboka ko abikorera bategereje ko leta ariyo izubaka iri soko, agira ati, « abikorera b’i muhanga bakwiye gukora ingendoshuri mu turere twateye imbere mu kwishyira hamwe kuko aribwo bunguka kurushaho, kubona uyu mujyi ukuntu ufite umuvuduko mu iterambere ntibyumvikana ukuntu utagira isoko rya kijyambere rigezweho » ?

Umyubobzi w’akarere ka Muhanga Yvone Mutakwasuku avuga ko kuba Minisiteri y’ubucuruzi n’inganda igira ibyo inenga mu ishoramari rya Muhanga, ari isomo rishobora gutuma ibintu bihinduka, gusa akavuga ko impamvu yatumye isoko ritubakwa ari uko abari bagize kompanyi ijabo yagombaga kubaka isoko bari bafite izindi nyubako batangiye.

Cyakora ngo Akarere kagiye kongera kureba uwagafasha kugirango iri ngo soko ribashe kubakwa, kuko ngo ikibanza gihari.Zimwe mu ngaruka zo kutagira isoko rya kijyambere i Muhanga ni ukuba bamwe mu bafite ubushobozi buciriritse bacururiza hanze y’isoko, bigateza akavuyo kuko baba bahanganye n’abashinzwe umutekano bababuza kuhacururiza.

 

Making money: There’s no business like second hand shoe business

Annet Wibabara poses at her stall as she waits for customers

Annet Wibabara poses at her stall as she waits for customers

The business of selling used shoes in Rwanda is becoming a lucrative one. Rwandans today especially youth have increasingly shown keen interest in used shoes.

Annet Wibabara, sells used shoes at Kimironko market, she says “I cannot take an office work especially now that I am enjoying profits from my business”.

In one year of selling used shoes, Wibabara has bought a plot of land and take care of the family without any difficulties.

“In one year in this kind of business, I managed to buy a plot of land, meeting my needs and the family. Basing on my experience, there’s no business like dealing in used shoe, I am making money” she said.

Apart from benefits, being your own boss is priceless as you can attend to any other issue with ease.

“Before coming to work, I take care of my family and do some chores. Even when it calls for time to relax or visit people, I always make time for it and still make sales,” she added.

Wibabara advises jobless people to start small and create jobs to achieve fast development.

Creating own job is under the government’s program (Hanga Umurimo) that aims at supporting youth to have an entrepreneurial mindset.

Han­ga Umurimo (HUP) was established to unlock the youth’s potentials to run competitive and innovative enterprises in order to generate more job opportu­nities.

As Rwanda’s Vision 2020 seeks to generate 3.2 million off-farm jobs by 2020, the Ministry of Trade and Indus­try that pilots HUP says it is guided by Vision 2020 and the National policy of small and medium enterprises (SMEs) to contribute to promote rapid growth of such enterprises among the Rwan­dan Youths.

Décembre 2014 : Kigali, hôte de la 15e Edition de l’Exposition annuelle « Jua Kali/Kazi Nguvu »

 Gikondo Expo-Ground, sanctuaire des expositions internationales de Kigali

Gikondo Expo-Ground, sanctuaire des expositions internationales de Kigali

L’annonce a été faite à Kigali lors d’une conférence de presse tenue conjointement par François Kanimba, Ministre du Commerce et de l’Industrie (MINICOM) et des Représentants des pays de l’East-African Community (EAC) dans la salle de conférence du MINICOM à Kimihurura. Cette 15è Edition de Jua Kali/Kazi Nguvu se tiendra à partir du 01 jusqu’au 07 Décembre 2014, à l’Expo-Ground de Gikondo. Ça sera la 2è fois que le Rwanda abrite cette foire après celle de 2008.

L’exposition Jua Kali/Kazi Nguvu est organisée à travers la Confédération Est-Africaine des Organisations du Secteur Informel (CISO). Selon le Ministre Kanimba « elle regroupe principalement des artisans dans divers domaines, dans le but d’étendre le marché de leurs produits. C’est aussi une façon de créer une plateforme pour l’échange de nouvelles technologies et la facilitation des opportunités de développement économique ». Kanimba ajoute que cette exposition « sert également de portail pour l’intégration régionale des uns et des autres au sein de l’EAC. ».

Jua Kali/Kazi Nguvu est un collectif des artisans des pays de l’EAC, organisateur de l’exposition annuelle pour la promotion et le développement des petites et moyennes entreprises (PME), surtout celles à caractère artisanal. Cette exposition se tient à tour de rôle dans les capitales des pays membres depuis 1999 dont le Rwanda est membre actif depuis 2004.

Cette année, non seulement 250 artisans rwandais vont participer à Jua Kali/Kazi Nguvu de Kigali mais aussi d’autres venus du Kenya, du Burundi, de l’Ouganda et de la Tanzanie seront présents.

 

 

 

Finance Minister roots for Private sector participation

Finance Minister roots for Private sector participation

The  country  is  banking on  the  private  sector to be  the engine of the economy, a reason  the Minister of  Finance ,Amb. Claver Gatete says it’s participation in the development of the economy is vital.

Gatete says that   despite the growth of the sector coupled in the recent years, their participation in the growth of the economy mainly, an increase in experts and job creation is still low.

As government, the Minister notes “we have to use the resources to leverage private sector participation, he said during the World Bank and International Monetary Fund, Annual Meetings in Washington, USA.

The event  looked at ways  African policy makers   take on  to   increase the  pulse   at which their economies are growing, something seen as  a peer  advantage  to help  the policy  makers  to learn from   each other.

The International Monetary Fund-IMF says the continent’s real GDP is likely to continue growing   on an upward trend by the end of the year, an indication that the economies are doing well. It is estimated the growth is likely to grow to 5.1 percent by end of 2014 before growing to 5.8 percent in 2015.

Rwanda’s growth rate was at   6.8 percent in the forts half of 2014 and likely to   close at 6.0% by end 2014 by end of year as private sector seen to take a driving role mainly in service sector.

As member of the panel discussing the “Africa: Sharing Economic growth broadly” Gatete  said that the  backing the private sector  will help  the government   tackle some of the critical  areas  of growth such as increasing exports as well  as   bridging inequality.

“If we have private sector intervention in these areas, we are able to achieve our ambitious inclusive growth targets,” he said

Moreover, the recent interventions to bolster the private sector mainly in access to finance  through  establishment of the  Guarantee funds and  keeping the  economy  afloat  has seen  the sector’s   growth towards  increasing  off-farm jobs.

According to Ministry of Trade statistics, off farm jobs  rose to   1.4 million in 2011up from  408,000  in 2001  with   Non- agricultural  employment increasing  to 27.3%  of all jobs in  2012 from 12.1% in 2002.

 

Nyanza to emphasise on youth participation and social inclusion

Nyanza: Urubyiruko rwiyemeje kwishakamo ibisubizo byo kwihangira imirimo

Shima Innocent umuhuzabikorwa w’inama y’Igihugu y’urubyiruko mu karere ka Nyanza

Through the District Youth Committee, Nyanza district is creating a conducive environment that will expand youth’s opportunities to reach their full potential.

“Young people in Nyanza are full of ideas and are keen to contribute to the development of the society,” says Abdallah Murenzi, the mayor of Nyanza district. “This time as the district we are giving them avoice in the decision-making process.”

He added that “we must fulfil our obligations to youth. To consider the contributions of young persons on all policies affecting them.

“It is high time that we stopped viewing our young people as part of the problem and started cultivating their promise and potential. “Through these trimester meetings, we will recognize the youth capacities and their will to work harder and then be supported,” saysAbdallah Murenzi.

“Having the youth who are the majority of the population, stronger and knowledgeable is the opportunity Rwanda should make use of to develop,” said the mayor

The mayor encouraged youth not to disrespect any kind of work as long as it can pay their bills and help them secure their future.

 InnocentShima, the youthcoordinator in Nyanza district as well as the advisor in Nyanza Town Council; the youth have opportunities that cannot be accorded to other people especially in having the strength and knowledge they can use to achieve their goals.

Through these meetings, the youth will be sharing information and ideas that will help them in job creation and support each other to work towards a common goal.

 

High energy, transport costs could tilt growth rate pace

High energy, transport costs could tilt growth rate pace

The international  economic watch dog , International   monetary fund-IMF has warned that  high costs  of energy,  labor , transport coupled with  high  interest  rates could affect the  pace at which  the  economy  is growing.

The  country’s economic growth   is projected to  be at   6percnet by  the end  of December 2014 and 7.5 per cent 2015 despite  global  economic  hiccups , which means facilitating private sector productivity  to   push the growth  up   is  vital.

This according to   Paulo Drummond ,the  watchdog’s Mission chief for Rwanda will go along easing  doing business   and  facilitating  lower  borrowing  rates  for the private  sector to consolidate  their  productivity.

For the economy to  grow and for the  private  sector  to realize its leading role  on growth  of the economy,” Drummond said  it would be vital  to bring  down  the  costs of   doing  business.

Expert note that    maintaining the  current momentary stance as  well  as  keeping the economy  afloat   as well  as   ensuring the domestic interest  rates and  bank operation costs   are   down  will  help the country   maintain its economy  healthy.

“The government must, therefore, consider other non-concessional sources of financing while making some adjustments to be able to deliver on these investments,” he noted

This  implies that the Central Bank  will  have to strength  its  monetary  stance by maintaining    the traditional target  of four months  of  reserves  which    acts as  a shield for the economy in case of any   global  shocks.

According to IMF, the country’s inflation rate is expected to   expand to 3.2 per cent by end of December considering the Luke warm performance of the agriculture sector mainly in Season A and B 2014 but also the aid disbursement flow.

But there is optimism from World Bank that   given the    projected positive outlook on the continent, Rwanda’s projected growth would be achieved.

Francisco Ferreira, the World Bank’s Chief Economist for Africa says African economies continue  to  expand with  moderately rapid pace, despite the  global   economic changes  with its  GDP growth predictably to fortify to  up  to 5.2 percent year on year  between  2015-16 from 4.6 percent in 2014.

Monique Nsanzabaganwa, the deputy governor of the National Bank of Rwanda  conquers with   the watchdogs   economic diagnosis  and  says that there is need to increase  competitiveness within the financial  sector which would trigger  efficiency needed to  bolster lending to the private sector..

“There is need to support growth and preserve the level of foreign reserves requires a cautious fiscal stance,” she added

Moreover,  Amb. ClaverGatete, Minister  of Finance says that the government  is stepping up efforts to   increase  energy  production  through increased investment in  the sector , thus  reducing  the electricity  costs.

“The government has priotised the energy sector in its Economic Development and Poverty Reduction Strategy (EDPRS II),” He said

Moreover, the government    set up reforms policies for the creation of a supportive business environment which eases doing   business mainly from the registration process up to the   establishment.

This saw the country ranked 32nd place in the world in terms of overall ease of doing business in the World Bank Doing Business rankings this year, while it stood at 8thin the area of registering property, 13thin terms of getting credit.

Follow

Get every new post delivered to your Inbox

Join other followers