Rwanda Development Board, (RDB) and Dubai Ports World (DP World) have launched a new global e-commerce platform, www.dubuy.com, that will market Rwandan products to the global market place.
The launch comes after RDB and signed a Memorandum of Understanding (MoU) in December, 2020 to launch the new global B2B and B2C e-commerce platform to make it easier for Rwandan businesses to engage in international trade.
Dubai Ports World is an Emirati multinational logistics company based in Dubai, United Arab Emirates. It specialises in cargo logistics, port terminal operations, maritime services and free trade zones.
Rwanda now becomes DP World’s hub for expanding e-commerce across the East Africa Community and beyond. Rwandan businesses will also benefit from broader DP World services and investment that will help to facilitate and develop trade.
This includes the promotion of Rwandan exports of coffee, tea, and horticulture on Dubuy.com, modernising of Rwanda’s supply chain logistics including in rural areas, and access to digital tools to help businesses save money and expand their reach to local, regional, and global markets.
“We have robust infrastructure to support logistics in Rwanda and we are committed to reducing the cost of logistics, enabling Rwanda to become a regional logistics hub,” Summit Bhardwaj, CEO of DP World Rwanda, said during the launch that was held virtually on Wednesday morning March 3, 2021 between Rwandan officials and DP World Executives.
RDB Deputy CEO, Zephanie Niyonkuru and Rwanda’s Ambassador to the UAE, Emanuel Hategeka, were part of the launch.
Niyonkuru said that Dubuy.com is a great addition to Rwanda’s local and regional trade activities and as a country promoting the manufacturing of products for export. “We believe it will help us quicken the process of connecting buyers and sellers,” he said. “The real work has now started and we need to make sure that many companies sign up and access global markets. We also hope that through the platform, we’ll be able to reduce the overall cost of trade.”
Ambassador Hategeka who has been instrumental in securing this partnership said that, “We are honored that Rwanda is the first country of launch for http://dubuy.com in the region. E-commerce platforms like this are needed now more than ever before as we respond to the disruption caused by the COVID-19 pandemic.”
This launch follows also another development where Rwanda’s products are now listed on the most popular e-commerce platforms in Singapore such as Red Mart and Shopee Singapore as well as s major Singapore’s largest grocery retail shops.
In January, this year, the on-going Campaign to promote Rwandan Coffee and other products in Japan, Ambassador Ernest Rwamucyo met with Yoshiaki Kawashima, President, Mi Cafeto, and Special Advisor to JICA on Coffee Value Chain Development Project to explore how more coffee could be accessed in Japan.
Sales of Rwandan coffee in China via online platforms belonging to China’s e-commerce giant Alibaba increased by 400 percent in 2020, according to Alibaba.
Germany, Rwanda Sign Rwf90B Financing Agreement
Finance Minister, Dr. Uzziel Ndagijimana, and the Germany Ambassador to Rwanda, Dr. Thomas Kurz, today signed two agreements worth € 78 million (Approximately Frw 90 billion).
The financing and technical cooperation agreement is the outcome of the Inter-Governmental Negotiations that were concluded last Year between our two respective Governments.
59 million Euros of the grant agreement will be provided through KFW Development Bank and will support various initiatives including technical and vocational training, promotion of export oriented SMEs, through the support to Export Credit Facility in Rwanda under BRD, promotion of green investments as well as ICT support.
The remaining Euros19 million will be channeled through GIZ and will support decentralization and good governance, prevention of sexual and gender based violence among others.
Speaking after the signing event, Minister Ndagijimana said the financial support extended to Rwanda will support key areas that are critical to the attainment of the country’s development objectives.
“This support comes at a critical juncture given the effects COVID-19 has had on our social –economic advancement. We look forward to boosting these important areas that are in line with our National Strategy for Transformation. We thank Germany for the strong cooperation and solidarity especially during the COVID-19 pandemic,“ Minister Ndagijimana said.
Ambassador Kurz stressed: “These Agreements underline the long-standing and proven cooperation between our two countries based on friendship and mutual trust. Germany is committed to support Rwanda in its Economic Recovery Process and the implementation of NST 1 in order to reach the SDGs and to leave no one behind.”
The Division of Labor allows Germany development cooperation programme to be active in Education (including TVET); Decentralization and Good Governance, Private Sector Development and Youth; Public Financial Management (PFM); Financial Development. Germany also supports Regional Projects: Centre of Excellence for Health, Improvement of the Investment Climate, Microfinance sector-MIFSSA, ICGLR and Energy.
Malawi Issues 86 Licenses For Cannabis Production
Malawi’s Cannabis Regulatory Authority said on Friday they had issued 86 licenses to 35 companies and cooperatives to venture into cannabis cultivation for industrial hemp production.
Boniface Kadzamila the Board Chairman of Cannabis Regulatory Authority made the announcement from Lilongwe on Friday afternoon.
He said that a total of 41 companies applied but only 35 of them satisfied the requirements.
According to him the authority has issued licenses for cultivation, processing and storage and has not yet issued any license for export of cannabis.
A recent analysis by Invegrow Limited, one of the firms that conducted research on industrial hemp, found that a kilogram of industrial hemp could fetch U$1,444 on the market that there is potential for direct annual benefit for Malawians in excess of U$ 135,440,973 on 16.5 hectares or U$8,803,663 per five hectares.
The analysis further indicated that the crop has ready markets whose global value chain is worth U$9billion thus giving local Malawi investors a basis to take up cannabis production.
ex-Nakumatt CEO’s Home Auctioned
Atul Shah, the former chief executive officer of the collapsed retail giant Nakumatt lost his home to auctioneers over a U$18,609,740 debt.
The auction follows the conclusion of a protracted court battle after the Kenyan High Court dismissed a petition seeking to overturn the forced sale of the high-end property by KCB Group.
Justice Francis Tuiyott dismissed the petition by the administrator of the collapsed Supermarket chain, saying it has no chance of success.
Nakumatt’s court-appointed administrator had opposed the sale on grounds that the auction failed to follow the law, and tagged Mr Shah as an interested party to suit.
The bank, through Leakey Auctioneers, early in the year quietly sold the property, which Mr Shah had used as additional security as Nakumatt’s guarantor to offer comfort to the multiple bank loans.
“This court is not persuaded that the suit, as currently presented, demonstrates a prima facie case with a probability of success. Being unable to surmount that hurdle, it is needless for this court to discuss other aspects raised in the application,” the judge said.
KCB had earlier sold Mr Shah’s prime property in Industrial Area, Nairobi, to Furniture Palace International Ltd for about U$9,677,064 court records show.
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