The World Bank has approved a $81 million International Development Association (IDA)* credit to support Rwanda’s transport sector.

Rwanda’s telecom industry regulator has fined MTN Rwanda, a division of South Africa’s MTN Group 7 billion francs ($8.5 million) for running its IT services outside the country in breach of its licence.

Rwanda's central bank maintained its policy stance, saying the economy should continue to perform well while depreciation pressures on the Rwandan franc have eased.

Rwanda’s central bank this Wednesday unexpectedly cut its benchmark interest rate to 6.25 percent, moving to try to spur credit growth in the East African nation.