Kigali, 19 August 2020: The Development Bank of Rwanda (BRD) Plc., welcomes the newly appointed Members and Chair of its Board appointed by the Shareholders to start their mandate on July 1st, 2020. The new members will serve a renewable three-year term.The new BRD Board of Directors bring to the Bank an impressive and diverse range of background disciplines and a wealth of experiences and knowledge to help steer the Bank’s mission and mandate. The Directors are also expected to cement the Bank’s achievements and accelerate the efforts to implement the Bank’s 2018 – 2024 Strategic Plan.
The new Board of eight board members was approved by the Central Bank of Rwanda. The members are:
BOBBY PITTMAN who will serve as Chair of the Board. He is currently the Managing Partner at Kapunda Capital, a platform to create, capitalize and scale pan-African companies. A US national, he was previously the Vice President of Infrastructure, Private Sector and Regional Integration at the African Development Bank (AfDB). The Africa Fund Manager magazine named Pittman to its inaugural ‘Power 50’ list of industry leaders who are shaping investment trends in Africa.
CALLIXTE NYIKINDEKWE is the Deputy Vice Chairperson. He is currently a CEO of Orgmatt Solutions, an SME consulting company. He has occupied several managerial positions in the banking sector including being the Head of Business Banking at I&M Bank Rwanda.
ALICE RWEMA is currently the Corporate Secretary of the Rwanda Energy Group and serves as Board Member to the Rwanda Airports Company. She was formerly the Legal Advisor at the Ministry of Infrastructure (MININFRA).
STELLA NTEZIRYAYO is currently the Director for Public Debt Unit at the Ministry of Finance and Economic Planning (MINECOFIN) of Rwanda. A senior Economist with wide experience in Debt Management and external borrowing requirements.
ANGELIQUE KAREKEZI is currently the Managing Director of RWASHOSCCO LTD, a Rwanda Small Holder Specialty Coffee Farmers Company, driving the overall company’s vision of marketing, roasting and exporting Rwanda’s specialty coffee. She has held various managerial positions in coffee cooperatives and occupied technical development of coffee farmer unions role at SPREAD USAID Project. She is also the Chairperson of International Women’s Coffee Alliance Rwanda Chapter.
JOSEPH M. MUDENGE is currently the Director of Planning and Research of RSSB. He was previously the Company statistician at the former Social Security Fund of Rwanda. He is also a Board Director at Prime Economic Zone (Rwanda).
CHARLES MUGABE is the Chief Investment Officer of Agaciro Development Fund (AgDF). Formerly the Director of Finance at Rwanda Broadcasting Agency, he is also a qualified Chartered Accountant (ACCA) of UK.
GHISLAIN NKERAMUGABA is currently the Managing Director of Group Vivendi Africa Rwanda Ltd. He was previously the Deputy Managing Director at Revolution Air Ltd. He has vast experience in IT project development and IT services.
A ninth board member has also been nominated and is currently securing regulatory requirements.
During the onboarding and induction of the Directors, the Chair on behalf of the Directors acknowledged that it is an honor for them all to be named among the new Board that will drive BRD to the next level.
“I am incredibly proud of BRD’s accomplishments over the past 53 years of its existence especially the recent half century. BRD has indeed established itself in the marketplace as an efficient development finance institution. I am confident that the Team’s leadership will continue to grow and expand the impact and we look forward to leveraging our strategic networks of Stakeholders, who – along with our Team – are all united in the desire to successfully steer the Bank to make an even greater contribution to Rwanda’s socio-economic development. I also look forward to working closely with the BRD Executive Committee as well as our experienced and dedicated Staff,” said Pittman.
On the CEO’s part and on behalf of the Executive Management Committee, Ms. Kampeta Sayinzoga concluded that this is a significant moment in the history of the Bank.
“I am deeply grateful to the Shareholders for appointing such a diverse and experienced Board of Directors. Equally, I am excited for what the future holds under Chairman Pittman’s leadership. He brings a wealth of international success and strategic vision to our organization, which will be critical to boost our ability to scale and meet the growing demand for financial solutions that will sustainably deliver socio-economic impact,” said Kampeta.
Kampeta also extended her sincere appreciation to the out-going Board of Directors, under the chairmanship of Me. Rutabingwa Athanase, for their dedicated service, particularly leading the Bank’s successful reorganization and restructuring to focus as a development finance institution.
About the Development Bank of Rwanda (BRD) Plc.:
BRD Plc. has been a key part of Rwanda’s development since its establishment in 1967 and is Rwanda’s only Development Finance Institution (DFI).
Defined by both its vision, “to be an innovative and sustainable provider of development finance for socio–economic impact” and its mission to be “a trusted strategic partner for Rwanda’s development that offers financial solutions for enhanced value to our stakeholders,” BRD aims to achieve these twin objectives through wide-ranging financing and investments in key growth sectors. The vision is well aligned with SDGs since 2018 and is already driving impact.
BRD has prioritized six key sectors, namely; financing Agriculture and agro-processing development; Exports and Manufacturing where we are involved in expanding export growth fund and PPPs; Energy including renewable/clean energy through financing for off-grid solutions; Housing and Infrastructure where we intervene by supporting housing loans, developer schemes for low cost housing and soft Infrastructure through providing technical support for project implementation; and last but not least, Education where we are financing skills development, handling the higher education bursary scheme and recovery, as well as supporting private education finance.
The Development Bank of Rwanda (BRD) Plc. is the first Bank in Rwanda to be rated by Fitch. Through this inaugural rating, Fitch rated BRD as a B+ Stable outlook which is the same rating as the Government of Rwanda. BRD works mostly with local shareholders and 97% of BRD is owned by Rwandan players.