www.hope-mag.com JULY 2014 ISSUE 42 Doing Special on Report Telling Rwanda’s Story Business Reforms Magazine N TIO PA RA Y T IN IS G G E T R A S X S E E S N I S U B FREE COPY P R O S T T E I C M T I R N E G P N IN O V I E CT ST RU OR ST S CON INSIDE Rwandarollsoutnew 2014-2015 Turkish Airlines Discover Antalya Capital Market now of age TIGO and Edu Me DoingBus nessReforms Crane bank opens in Rwanda UAE Exchange opens another branch t vironmen n E nd a iety c o S , e l eop P for t c e sp Re Life for yment o j n E ity l a Qu for n assio P Passion for Quality Enjoyment for Life Respect for People, Society and Environment www.hope-mag.com PUBLISHER’S WORD Reforming more HOPE TEAM Abraham Rumanzi to perform better Albert Ndata Gahima Vital Gaspard Gashambo Karugahe Mutoni L. The RDB-led reforms for 2014/2015 have accentuated transiting from informal Latim Lawrence W. to formal SMEs with continued easy, very low-cost company registration. The Manzi Joseph RDB-led reforms for 2014/2015 have accentuated transiting from informal to Matthew Rwahigi formal SMEs with continued easy, very low-cost company registration. Muziba Sheilah Noella Rugema I. Rebero Daniel oing Business report for refocusing their products and is another salient innovation as indexed by the services for a specific market and that has so simplified and saved 42 2014 ISSUE HOPE JULY DWorld Bank has are geographically dispersed investors in real estate, commercial PUBLISHED BY continued to position Rwanda and therefore have a bigger buildings and others the hustles at a superlative rating, efforts reach in terms of spreading of spending time and resources. Hope Magazine Ltd, that have consistently translated the benefits. into more investments, (local and All the reforms that have been foreign), better trading terms The government of Rwanda made are an indelible statement ADVERTISING & in the region and beyond and, has also ensured that for the of a people that have decided GENERAL INQUIRIES in the process, trudging the processing and manufacturing to walk the development path 7 path of meeting many of plants that are cluster-anchored together—both the leaders and P.O. Box 6176 the development priorities in the industrial area get free the led; get faster results and www.hope-mag.com Kigali-Rwanda and international commerce connection services for both transform an entire economy +250 788 524189 / obligations. water and electricity i.e. through evidence-based solutions. +250 788 404138 application, submission, field The onus, however, is still upon The RDB-led reforms for 2014/2015 survey and quotation, material us to make such environments [email protected] have accentuated transiting from issuance, installation, testing and created to be sustainable and Website: hope-mag.com informal to formal SMEs with commissioning compared to the pass the test of time. continued easy, very low-cost Rwf20,000,000 connection company registration. This is in charges outside the industrial If and when investors trust COPYRIGHT 2013 tandem with creating competitive area. Rwanda because of the reforms small business entities that will so generated, we should all, reserved by Hope eventually metamorphose into The Kigali Special Economic beginning with the policy makers, Magazine Hope platforms for the creation of a Zone therefore has attracted ensure that such trust never Magazine a monthly middle-income class as envisaged many investors because of such fades but instead used to create Magazine is published in the Vision 2020. and more incentives; because more deep-seated confidence by Hope Magazine Rwanda’s economic plans for attracting more and building Limited. Formal SMEs are easy to have operate beyond the WB Doing bigger business networks. This All rights reserved. their capacities built, be supported Business reforms. Processing and more, we believe, Rwandans The opinions expressed for financial inclusion, mobilized online construction permits, can do. in the magazine are not necessarily those of the We appreciate your feedback. Please keep sending more on [email protected] or visit editors and publishers of www.hope-mag.com to post your comment on any published story. Hope Magazine. We shall pick it and respond to you asap! Rebero Daniel t vironmen n E nd a iety c o S , e l eop P for t c e sp Re Life for yment o j n E ity l a Qu for n assio P Passion for Quality Enjoyment for Life Respect for People, Society and Environment Passion for Quality Enjoyment for Life Respect for People, Society and Environment Care is taken to ensure accuracy, Hope Magazine assume no liability for error or omissions in this publication. All Advertisements are taken in good faith, opinions and views contained herein are not necessarily those of the Publisher. All copyrights and trademarks are recognized. No part of this publication or any part of the contents thereof may be reproduced, stored in retrieval system or transmitted in any form without written permission by Hope Magazine. An exemption is hereby granted for extracts with the purpose of fair review. © 2013 SPECIAL FEATURE RWANDA ROLLS OUT NEW2014-2015 Doing Business Reforms HOPE JULY 2014 ISSUE 42 2014 ISSUE HOPE JULY 8 www.hope-mag.com www.hope-mag.com aving been named one of 2014-2015 business reforms to The 10 WB indicators of Doing the topmost global business further the creation of an environment Business include, Starting Business, reformers by the World favorable for business development. Dealing with Construction Permits, HBank’s Doing Business report The reforms put in place by RDB Getting Electricity, Registering Property, 2014 carried out in 189 economies cover all the 10 indicators of doing Getting Credit, Protecting Investors, worldwide, the government of Rwanda business which are con sidered by the Paying Taxes, Trading Across Borders, through the Rwanda Development World Bank (WB) in its annual Doing Enforcing Contracts and Resolving Board (RDB) has rolled out its Business report. Insolvency. DOING BUSINESS REFORMS SPECIAL FEATURE SPECIAL FEATURE RWANDA ROLLS OUT STARTING A NEW2014-2015 BUSINESS Doing Business Reforms TOWARDS EASING PROCEDURES OF STARTING A BUSINESS AND MAKING THEM USER-FRIENDLY, on 27 February this year Card Authority (NIDA). This has a prerequisite if national development RDBintroduced mandatory online greatly helped in retrieving personal is to be attained. Despite the fact that registration of all com panies in Kigali and information in a more efficient and the idea of starting a business requires 42 2014 ISSUE HOPE JULY this has hugely reduced the time spent effective way since NIDA feeds this courage and strength from those who when registering a company from 1 day informa tion directly. The information intend to start the Rwandan govern- to less than 6 hours. The new program that was on the extra pages can now ment through the Rwanda Development has seen 58% of the total registered be accessed directly from NIDA. Board (RDB) and other institutions businesses registering online whereas This trickles down to saving time on with a stake in the procedures has made commendable efforts at easing HOPE JULY 2014 ISSUE 42 2014 ISSUE HOPE JULY 90% of total businesses registered since company registration allowing RDB the reform was commissioned in February to deliver within 6 hours at maximum. the process for people who want to 8 9 2014 have done so online. Also 100% reg ister their businesses by putting of companies in Kigali are registered online STARTING A BUSINESS IN place policies and frameworks that www.hope-mag.com and upon registration, their certificates RWANDA MADE EASIER AND help business people to register their of registration are automatically received SIMPLE companies in the shortest time possible. through their email account reducing the Starting a business is one of the major Starting a business is the first indicator time that was originally spent collecting ambitions and dreams of each and most among the 10 indicators under the them from RDB. people globally, Africa included as it Doing Business Report project which is carried out by the World Bank (WB) www.hope-mag.com www.hope-mag.com helps people to get a breakthrough This has reduced pro cedures required towards their individual success annually and Rwanda has continued in the process from 2 to 1, in addition financially and socially, but also are to gradually improve on this indicator to removing the cost of registration from Rwf15, 000 to no charge. By May 21st 2013, 1895 compa nies had been registered through the online process, representing a 125% increase from the 842 companies registered online last year. Between 1st June 2012 and May 21st 2013, the total aving been named one of 2014-2015 business reforms to The 10 WB indicators of Doing number of companies registered was the topmost global business further the creation of an environment Business include, Starting Business, 9956 for both the online and basic reformers by the World favorable for business development. Dealing with Construction Permits, systems. From 2012 to 2013 pages Bank’s Doing Business report The reforms put in place by RDB Getting Electricity, Registering Property, for company incorporation reduced H from 10 to 5. This correlates to a 50% 2014 carried out in 189 economies cover all the 10 indicators of doing Getting Credit, Protecting Investors, worldwide, the government of Rwanda business which are con sidered by the Paying Taxes, Trading Across Borders, reduction in the time taken to fill the through the Rwanda Development World Bank (WB) in its annual Doing Enforcing Contracts and Resolving application forms.