The former MINICOM Minister took over the ministry when the country was striving to attract foreign investors and building infrastructures to facilitate doing business.
Kanimba who has been on the top of Rwanda’s financial and economic institutions told local TV station, TV 10 that he’s proud of his contribution in building and shaping the revamped economy of the country.
In Central Bank
Since 2000, the expert in Economic Statistics was the Vice-Governor of Central Bank and became the Governor in 2002, heading it until 2011 when he was appointed the Minister of Trade and Industry.
According to Kanimba, leading the Central Bank in the post-genocide period was not an easy job as the bank was under reconstruction.
“Truthfully, it was not easy because like other institutions, the bank was also under reconstruction as well as recruiting employees so that they can implement the bank’s responsibilities. The bank had tough responsibilities to implement,” he said.
“There were two tough challenges which we worked hard to tackle. Among those challenges were; few commercial banks that had been operating in Rwanda, those are Bank of Kigali (BK), Commercial Bank of Rwanda (BCR), BACAR and BCDI. These banks were poorly managed and had been suffering losses except BK, in fact there were many challenges, as Central Bank’s laws were also outdated,” he explained.
He said that BNR had another challenge of foreign currencies which were poorly managed.
“Before the 1994 genocide against the Tutsi, foreign currencies were poorly managed to the extent that people were not willing to bring them to Rwanda. Also there were favoritism in monitoring and providing rights to foreign currencies,” he added.
He said that they were challenged with reforming laws of the bank so as all Rwandans have access to foreign currencies.
“Before 1994, people thought that foreign currencies were only allowed to government. It was difficult to change these mindsets. Previously, for people who would need to go to buy stuffs outside the country, they would need authorization from Central Bank. No Rwandan was allowed to open a dollar account in commercial banks,” he added.
Kanimba said that he is proud to have contributed in legalizing exchange market which previously was conducted illegally and used to affect monetary value.
“One day I invited them (people in exchange business) in a meeting in BNR and told them that Rwandans knew that they were doing business illegally, there are laws regulating money exchange. You should acquire trading licenses, have a permanent place of abode and stop illegal operations,” he recalls as having advised.
Secret behind success
Kanimba served nine years in Central Bank and six years as the Minister of Trade and Industry.
He said that the secret behind success and serving long period in the positions was collaboration.
“I am a lucky person because collaboration with fellow staff is very simple. In every institution, I become a friend of workers under my control and my bosses too. Be in Central Bank or Minicom, they were friends and working with them was not an issue. When you are a friend with the staff, it is easy to introduce new changes,” he explained.
Kanimba said that he is happy for his contribution in raising the value of Made in Rwanda products to the international markets.
Kanimba was dropped from the Cabinet on August 30th 2017, when President Paul Kagame announced new Cabinet after the August 2017 presidential elections.
Currently, Kanimba is working for Rwanda’s insurance company, Société Mutuelle de Garantie et de Financement-(SMGF).
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