Ethiopia’s Currency Revolution: Transforming the Foreign Exchange Regime into New Opportunities
Ethiopia is embarking on a transformative economic journey with the National Bank of Ethiopia’s (NBE) groundbreaking decision to devalue the Ethiopian Birr by 30% against the US dollar and liberalize its foreign exchange market. Effective from July 29, 2024, this strategic move aims to address persistent foreign currency shortages and attract substantial foreign investment. Since…
Read MoreOpen and close a business in Rwanda
Registering a business in Rwanda is generally hassle-free for (foreign) entrepreneurs, with fast registration being a notable advantage, often taking less than 24 hours. Rwanda distinguishes itself with its ease of registration and a business-friendly environment, setting it apart from many other African countries and earning high rankings on ‘Ease of doing business’ lists. However,…
Read MorePaying taxes in Rwanda
In Rwanda, registering a business at the Rwanda Development Board (RDB) automatically entails fulfilling tax obligations for both centralized and decentralized taxes. Taxes are collected and managed by the Rwanda Revenue Authority (RRA). The majority of taxes are paid at the RRA; a few are paid at the Rwanda Social Security Board (RSSB). The tax…
Read MoreLiving Wages Report
When it comes to setting minimum or living wages in Rwanda, there is limited information available for companies to do so. A recent report surveyed six companies from different sectors and found differences in how they manage their labor practices, salaries, and benefits. Some have established salary scales and structured benefits, while others are still…
Read MoreInvesting in Rwanda – The Dutch Experience
The Rwandan government’s visionary approach and ambitious development goals have created a favorable environment for businesses, with the private sector playing a pivotal role in the nation’s development strategy.
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