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Tuesday, 1 April 2014

[AFRICAFORUM] Tunisie : deux policiers condamnés à sept ans de prison pour viol - France : Manuels Valls nommé Premier ministre

 

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mardi 01 avril 2014  
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Tunisie : deux policiers condamnés à sept ans de prison pour viol
Deux policiers tunisiens jugés pour le viol d'une jeune femme en 2012 ont été condamnés lundi soir à sept ans de prison. Pour les avocats de la victime, ce verdict est "décevant".
Amina Sboui, féministe tunisienne, le 31 mars 2014 devant le tribunal de Tunis.
France : Manuel Valls remplace Jean-Marc Ayrault à la tête du gouvernement
Le président français, François Hollande, a nommé lundi soir Manuel Valls au poste de Premier ministre. L'ancien ministre de l'Intérieur remplace ainsi Jean-Marc Ayrault à Matignon.
Kenya : trois explosions font six morts dans un quartier de Nairobi
Selon la police kényane, trois explosions quasi simultanées ont tué au moins six personnes lundi soir à Eastleigh, le plus grand quartier somalien de la capitale kényane, Nairobi.
Côte d'Ivoire : le FPI dénonce la "dictature" au "visage hideux" d'Alassane Ouattara
Le FPI a décidé de durcir le ton face au gouvernement ivoirien. Réuni autour de son comité central, samedi, une semaine après le transfèrement de Charles Blé Goudé à la CPI, le parti de l'ancien président Laurent Gbagbo a notamment qualifié le régime d'Alassane Ouattara de "dictature" au "visage hideux".
Burkina Faso : Zongo et Sankara, les fantômes chahuteurs de Compaoré
Au moment où le régime du président burkinabè, Blaise Compaoré, est fragilisé, deux assassinats officiellement non élucidés remontent à la surface : ceux de Thomas Sankara et de Norbert Zongo. La justice du Burkina Faso va-t-elle convaincre de sa bonne foi ?
  CETTE SEMAINE DANS JEUNE AFRIQUE
  Centrafrique - Au coeur du chaos
  Un État sans forces armées, une présidente sans pouvoir réel... Malgré l'aide internationale, le pays sombre chaque jour un peu plus dans la violence.
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MAGHREB & MOYEN-ORIENT
Ali Benflis : "La Constitution algérienne doit être revue en profondeur"
Largement défait au scrutin présidentiel de 2004, l'ex-chef du gouvernement algérien Ali Benflis est de nouveau candidat à la magistrature suprême. Et recroisera le fer avec l'actuel chef de l'État le 17 avril. Interview exclusive.
Ali Benflis dans son bureau, sur les hauteurs d?Alger, le 19 mars.
AFRIQUE SUBSAHARIENNE
Sénégal : l'ambassade de Turquie à Dakar, le mur de trop
À Dakar, défigurée par la frénésie immobilière, la construction de la future ambassade de Turquie sur le front de mer provoque une vive indignation.
Verra-t-on encore l'océan depuis la corniche ?
INTERNATIONAL
Quelle politique européenne de défense pour l'Afrique ?
L'Europe de la défense ? Une coquille vide... qui ambitionne pourtant de jouer les premiers rôles en Afrique. J.A. fait le point à l'occasion du prochain sommet Europe - Afrique prévu les 2 et 3 avril à Bruxelles.
Dans le golfe d?Aden, arrestation de pirates présumés par la marine française.
ÉCONOMIE - FINANCE
Bob Diamond et Ashish Thakkar choisissent l'Afrique australe
Atlas Mara annonce avoir signé des accords afin d'acquérir pour 265 millions de dollars le contrôle du groupe bancaire d'Afrique australe BancABC ainsi que de la société d'investissement ADC, actionnaire de BancABC et de Union Bank of Nigeria (à 9,1%).
Bob Diamond, ex patron de Barclays et co-fondateur d'Atlas Mara. © Ian Kington/AFP
SPORT
Centrafrique : le football pour réconcilier chrétiens et musulmans ?
Malgré une situation toujours précaire en Centrafrique, la sélection nationale de football tient absolument à disputer le deuxième tour qualificatif pour la CAN 2015 (16-18 mai et 30 mai-1er juin), à condition d’avoir le budget pour le faire. Une participation qui pourrait constituer une avancée vers la réconciliation nationale.
Les Fauves de Centrafrique n'ont encore jamais participé à une CAN.
AUTRES TITRES
Nigeria - Carte interactive : Boko Haram, un anniversaire macabre
Boko Haram, qui fête son dixième anniversaire, poursuit sa croisade macabre dans le nord du pays. Depuis le début de l'année 2014, la secte islamiste nigériane aux milliers de victimes a déjà frappé une quarantaine de fois.
Mali : Kagnassi, un conseiller très spécial
Son nom apparaît au bas d'un contrat militaire dont l'authenticité est sujette à caution. Une chose est sûre : la nomination de Sidi Mohamed Kagnassi au cabinet d'IBK n'est pas passée inaperçue.
Langue française : ne vous "mémérisez" pas pour aller "bussoter" !
La Semaine de la langue française a proposé à des internautes d'inventer un nouveau mot et sa définition. Florilège.
 
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EN KIOSQUE CETTE SEMAINE
N°2777
du 30 mars 2014 au 5 avril 2014
JA n°2777 Sommaire PDF
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par François Soudan Éditorial
Moïse tout-puissant
par François Soudan
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Monday, 31 March 2014

[AfricaWatch] Rwanda: BRD Is Up For Sale

 


rdb

rdbBy Bosco Mutarambirwa, MBA


Rwanda: BRD Is Up For Sale 

Paul Kagame needs cash, and he needs it now. Desperately. Now he's selling Rwanda Development Bank (BRD), whose CEO Turatsinze he had to assassinate awhile ago in Mozambique. Yet, Kagame's stated reason to raise capital for the bank is the very corruption culture that the late CEO was trying to eradicated before he was forced out. For more details on the sale of BRD, see http://www.busiweek.com/index1.php?Ctp=2&pI=816&pLv=3&srI=51&spI=26&cI=10.

Who is going to invest in such a bank with chronic problems? Plus, what country privatizes its development bank anyway? There are founded fears that the bank is under-capitalized and that its current capital requirements do not adequately take provisions for potential loan losses into consideration.

Kagame, the gambler:

Since BRD is obviously a tough sale, Kagame is likely to try and depress it to its core so that he can buy it for pennies. If things go according to plan and he manages to get a few more presidential terms, Kagame will claim to turn it around so he can pocket profits. In case he's out of power and the state, the rightful owner, ceases the bank, he will not lose much because he will have bought it for pennies.

Notice that foreign shareholders have had to pull out of BRD because the political risk was simply too high. These foreign institutions, no longer represented on the board of directors are as follows: Agence Française de Développement (AFD); German Investment and Development Company (DEG); Dutch Finance Company for Developing Countries (FMO); State of Belgium through Administration Générale de la Coopération au Développement (AGCD); The Bank of Tokyo Ltd.

Kagame's effort to raise capital from private sector is intended to compensate for capital lost when foreign investor redeemed their positions. We may never know for sure how these redemptions were honored because the bank itself did not have a lot of liquidity. Clearly, BRD had to take on debts from either from other State Owned Enterprises (SOEs), or Crystal Venture, the financing arm of the RPF tightly controlled by Kagame's family. What is certain is that BRD is highly leveraged at present time.

The ghost of Theogene Turatsinze:

Theogene Turatsinze was a brilliant young Rwandan of mixed ethnicity, born of a Hutu father and a Tutsi mother. After undergraduate studies in Rwanda, he moved to Mozambique, "where he worked for several years", then completed his studies with a Masters degree in management at the Australian Catholic University in Sydney. He returned to Rwanda, and became the Managing Director (CEO equivalent) of the BRD in 2005. During his tenure at BRD, it is believed that RPF ruling elites would try to take advantage of him as an outsider in order to refinance their debts at very low interest rates. They would overstate the value of their collateral assets, and lie about their true net worth. They wanted to get rich quick while dirtying Mr. Turatsinze and damaging his career. He would resist them, but they would bypass him and still appropriate funds from the bank through other managing committee members. In 2007, Theogene couldn't take it anymore. He picked up and left. The official reason behind his departure is that was dismissed for having "disobeyed an order from the Finance Ministry to declare the BRD bankrupt." Mr. Turatsinze moved once more to Mozambique, where he served as deputy rector of the São Tomãs de Moçambique Catholic University until he was murdered between October 11 and 15, 2012. His body was found in a lake, tied up.

It is believed that Kagame's death squads murdered Turatsinze at a time when The Bank of Tokyo Ltd and other foreign investors had started carrying out an investigation into the financial troubles of BRD. He was a potential inconvenient witness against RPF regime. He had to be eliminated in an attempt to erase evidence.

The aftermath of Turatinze's resignation:

Following Turatsinze's dismissal, Alex Kanyankole, a Tutsi, was was brought into BRD from Crystal venture in order to destroy all evidence of the alleged funds misappropriation. Foreign shareholders left nonetheless. On a management committee of 9, Kanyankole's deputies are all Tutsi insiders of RPF except one who is a hutu. In a country whose majority (over 80%) of population are hutus. It is a if Hutus have been excluded in finance schools around the world. Clearly, under Paul Kagame, the country is run under the old assumption that Tutsis are 'born' leaders, while Hutus are 'born' servants. No matter how you look at it, Rwanda today is once again a pressure cooker that's waiting to explode. All Kagame is doing is holding the lid down, but that will not last. He mighty hand will run out of energy, release the lid, and – boom! – genocide again.

Kagame says he's selling BRD because "the bank is mostly benefiting government officials leaving out BRD management which has not implemented projects as planned". Notice that this was the same exact issue that the bank faced during Turatsinze's tenure. The only difference is that at least Mr. Turatsinze, an outsider, could try and resist to RPF pressure, while the new "homogeneous" management team has little to no incentive resisting their own friends who hired them – not based on merit – but through nepotism, ethnic discrimination, and greed.

For details on BRD Management team, see https://www.brd.rw/?Bank-Management-15

RELATED POSTS

The church in the village of Nyarubuye, eastern Rwanda which was the scene of a massacre during the 1994 genocide and is now a genocide memorial (AP)

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Rwanda: BRD Is Up For Sale


Rwanda: BRD Is Up For Sale

rdb

rdbBy Bosco Mutarambirwa, MBA


Rwanda: BRD Is Up For Sale 

Paul Kagame needs cash, and he needs it now. Desperately. Now he's selling Rwanda Development Bank (BRD), whose CEO Turatsinze he had to assassinate awhile ago in Mozambique. Yet, Kagame's stated reason to raise capital for the bank is the very corruption culture that the late CEO was trying to eradicated before he was forced out. For more details on the sale of BRD, see http://www.busiweek.com/index1.php?Ctp=2&pI=816&pLv=3&srI=51&spI=26&cI=10.

Who is going to invest in such a bank with chronic problems? Plus, what country privatizes its development bank anyway? There are founded fears that the bank is under-capitalized and that its current capital requirements do not adequately take provisions for potential loan losses into consideration.

Kagame, the gambler:

Since BRD is obviously a tough sale, Kagame is likely to try and depress it to its core so that he can buy it for pennies. If things go according to plan and he manages to get a few more presidential terms, Kagame will claim to turn it around so he can pocket profits. In case he's out of power and the state, the rightful owner, ceases the bank, he will not lose much because he will have bought it for pennies.

Notice that foreign shareholders have had to pull out of BRD because the political risk was simply too high. These foreign institutions, no longer represented on the board of directors are as follows: Agence Française de Développement (AFD); German Investment and Development Company (DEG); Dutch Finance Company for Developing Countries (FMO); State of Belgium through Administration Générale de la Coopération au Développement (AGCD); The Bank of Tokyo Ltd.

Kagame's effort to raise capital from private sector is intended to compensate for capital lost when foreign investor redeemed their positions. We may never know for sure how these redemptions were honored because the bank itself did not have a lot of liquidity. Clearly, BRD had to take on debts from either from other State Owned Enterprises (SOEs), or Crystal Venture, the financing arm of the RPF tightly controlled by Kagame's family. What is certain is that BRD is highly leveraged at present time.

The ghost of Theogene Turatsinze:

Theogene Turatsinze was a brilliant young Rwandan of mixed ethnicity, born of a Hutu father and a Tutsi mother. After undergraduate studies in Rwanda, he moved to Mozambique, "where he worked for several years", then completed his studies with a Masters degree in management at the Australian Catholic University in Sydney. He returned to Rwanda, and became the Managing Director (CEO equivalent) of the BRD in 2005. During his tenure at BRD, it is believed that RPF ruling elites would try to take advantage of him as an outsider in order to refinance their debts at very low interest rates. They would overstate the value of their collateral assets, and lie about their true net worth. They wanted to get rich quick while dirtying Mr. Turatsinze and damaging his career. He would resist them, but they would bypass him and still appropriate funds from the bank through other managing committee members. In 2007, Theogene couldn't take it anymore. He picked up and left. The official reason behind his departure is that was dismissed for having "disobeyed an order from the Finance Ministry to declare the BRD bankrupt." Mr. Turatsinze moved once more to Mozambique, where he served as deputy rector of the São Tomãs de Moçambique Catholic University until he was murdered between October 11 and 15, 2012. His body was found in a lake, tied up.

It is believed that Kagame's death squads murdered Turatsinze at a time when The Bank of Tokyo Ltd and other foreign investors had started carrying out an investigation into the financial troubles of BRD. He was a potential inconvenient witness against RPF regime. He had to be eliminated in an attempt to erase evidence.

The aftermath of Turatinze's resignation:

Following Turatsinze's dismissal, Alex Kanyankole, a Tutsi, was was brought into BRD from Crystal venture in order to destroy all evidence of the alleged funds misappropriation. Foreign shareholders left nonetheless. On a management committee of 9, Kanyankole's deputies are all Tutsi insiders of RPF except one who is a hutu. In a country whose majority (over 80%) of population are hutus. It is a if Hutus have been excluded in finance schools around the world. Clearly, under Paul Kagame, the country is run under the old assumption that Tutsis are 'born' leaders, while Hutus are 'born' servants. No matter how you look at it, Rwanda today is once again a pressure cooker that's waiting to explode. All Kagame is doing is holding the lid down, but that will not last. He mighty hand will run out of energy, release the lid, and – boom! – genocide again.

Kagame says he's selling BRD because "the bank is mostly benefiting government officials leaving out BRD management which has not implemented projects as planned". Notice that this was the same exact issue that the bank faced during Turatsinze's tenure. The only difference is that at least Mr. Turatsinze, an outsider, could try and resist to RPF pressure, while the new "homogeneous" management team has little to no incentive resisting their own friends who hired them – not based on merit – but through nepotism, ethnic discrimination, and greed.

For details on BRD Management team, see https://www.brd.rw/?Bank-Management-15

RELATED POSTS

-“The root cause of the Rwandan tragedy of 1994 is the long and past historical ethnic dominance of one minority ethnic group to the other majority ethnic group. Ignoring this reality is giving a black cheque for the Rwandan people’s future and deepening resentment, hostility and hatred between the two groups.”

-« Ce dont j’ai le plus peur, c’est des gens qui croient que, du jour au lendemain, on peut prendre une société, lui tordre le cou et en faire une autre ».

-“The hate of men will pass, and dictators die, and the power they took from the people will return to the people. And so long as men die, liberty will never perish.”

-“I have loved justice and hated iniquity: therefore I die in exile.

-“The price good men pay for indifference to public affairs is to be ruled by evil men.”

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