Independent candidate Mpayimana promises interests rate cut

As Election Day in Rwanda draws closer, the spotlight is on the various presidential candidates and their visions for the country. Independent candidate, Philippe Mpayimana, has emerged as a contender with promises of compelling commercial banks to reduce interest rates in order to make borrowing more affordable for the people. In a recent interview with CNBC Africa, Mpayimana highlighted key aspects of his manifesto, focusing on labor reform, agricultural development, and economic policy that prioritizes social reforms and economic inclusivity. Mpayimana emphasized the importance of safeguarding the interests of small businesses and individuals engaged in various economic activities to ensure their well-being. He underlined the need to protect those who are often overlooked, such as second-hand clothes sellers and cultivators, advocating for their rights and economic empowerment. Mpayimana's commitment to supporting marginalized communities and promoting Made in Rwanda products resonates with his goal of creating a more equitable economy. He expressed skepticism about the exclusive focus on promoting locally-made goods, emphasizing that a substantial portion of the population may not be able to afford them. By advocating for policies that benefit the majority, Mpayimana aims to address the economic disparities that favor large industries over smaller enterprises. When questioned about collaborating with other opposition parties, Mpayimana defended his decision to run as an independent candidate, citing a lack of alignment in the current political landscape with the needs of the population. He called for new political voices to join him in addressing unmet economic challenges and fostering a more balanced economy that serves the interests of all Rwandans. Responding to criticisms about his absence from the political scene, Mpayimana emphasized the importance of promoting unity within the country, both for those inside Rwanda and Rwandan refugees abroad. He positioned himself as a candidate capable of uniting diverse voices and advocating for a cohesive national identity that transcends geographical boundaries. On the economic front, Mpayimana underscored the need to attract foreign investors while ensuring that the Rwandan population benefits from these investments without exploitation. He stressed the importance of social reforms that protect workers and prevent the marginalization of local communities in the face of foreign capital inflows. Mpayimana also addressed the issue of high-interest rates in the country, proposing a more balanced approach that supports both major investors and small-scale projects to foster inclusive economic growth. In his policy agenda, Mpayimana expressed determination to revitalize the country's infrastructure and prioritize the development of the agriculture sector to improve the livelihoods of the majority of Rwandans. Despite the complexities of monetary policy and interest rate regulation, Mpayimana signaled his intent to address the shortcomings in the current economic landscape to uplift local industries and create more opportunities for sustainable growth. Finally, Mpayimana's stance on gambling highlighted his commitment to social responsibility and fiscal policy that benefits the wider population. By proposing measures to mitigate the negative impacts of gambling while ensuring that revenue generation aligns with social welfare goals, Mpayimana aims to strike a balance between economic development and social well-being.