President Paul Kagame appointed the central bank governor as minister for trade and industry in his first reshuffle since being re-elected with 93 percent of the vote last year.
Francois Kanimba, a former World Bank senior economist who had been governor of the National Bank of Rwanda since 2002, was replaced by his deputy Claver Gatete.
Kagame, who has a firm grip on power in the central African country, gave no reason for the reshuffle announced late on Friday. It had been expected, however, because two ministerial posts recently became vacant.
Kagame last rejigged his cabinet in December 2009.
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