The appointment was made following the resolution of BK Group Plc Board of Directors on August 13, 2024, and is pending all regulatory approvals.
Speaking on the new appointment, Mr. Jean Philippe Prosper Chairman of the Board of Directors of BK Group said: “We are delighted to have appointed Dr Uzziel Ndagijimana as Chief Executive Officer of BK Group PIc. His leadership and vast experience in the economic and financial sectors will be instrumental in driving BK Group’s strategy and future growth ambitions.”
Dr Ndagijimana will work closely with the CEOs of our 5 subsidiaries: CEO of Bank of Kigali PIc; CEO of BK General Insurance; CEO of BK Capital, CEO of BK TecHouse, and Executive Secretary of BK Foundation.
Dr Ndagijimana is an economist and has a recognized financial professional background. He brings a good and deep understanding of the financial sector. Previously, he served as Minister of Finance and Economic Planning.
The Board of Directors expresses its deepest gratitude for Beata’s dedication and invaluable contribution to the business and Rwanda’s financial sector over the past 2 years.
{{About BK Group Plc
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BK Group Plc is a home-grown, award-winning Rwandan institution with deep roots in the African financial space since its inception in 1966. Over the years, BK Group Plc has gradually transformed into a premier one-stop shop, with a full range of financial services offered under a single roof.
The Group’s activities range from retail and corporate banking to asset management and investment banking. Additionally, BK Group provides non-life insurance products as well as innovative enterprise solutions designed to stimulate growth in the Rwandan digital space.
BK Group Plc is currently listed on both the Rwandan Stock Exchange (RSE), having floated its shares in 2011, and the Nairobi Stock Exchange (NSE) in 2018.
The Group operates through five subsidiaries: Bank of Kigali, BK Insurance, BK TecHouse, BK Capital and BK Foundation.
Mega Global Link has announced plans to establish a branch of its ‘Mega Global Market’ in New York, USA. The new branch will include both an office and a store, designed to make it easier for customers to access a wide range of products and services.
Mega Global Market operates as both an online market and a physical store, offering a variety of products sourced from factories in China, the United States, and India.
Dr. Francis Habumugisha, CEO of Mega Global Link says the company’s ongoing expansion efforts are aimed at ensuring faster service delivery and creating new business opportunities.
“We are excited to bring Mega Global Market to the United States, offering our top seven products just as we have in Canada, Rwanda, and soon in Europe,” Dr. Habumugisha stated. “This expansion includes seven premium services and state-of-the-art body workout machines.”
The company’s offers range from leisure travel and study abroad programs in the US, Canada, and Europe to work-related travel and medical tourism. Mega Global Market also provides opportunities for individuals to engage in business ventures, including the chance to represent the brand and sell its products in different cities or countries.
Dr. Habumugisha further explained that individuals have the option to create their own branded products through a notarized agreement with the company. The African headquarters for Mega Global Market is located in Rwanda, where the company offers seven original nutritional supplements certified by global standards organizations.
Additionally, Mega Global Market provides advanced equipment designed to improve health and well-being, including foot and full-body massage machines, chairs that align the spine, equipment to support muscles, bones, and joints, and other modern implements.
“Deeply humbled and honoured to be reappointed as Prime Minister. Thank you Your Excellency Paul Kagame for this immense privilege,” Dr Ngirente posted on his X handle.
“I commit to continue serving our Country under your leadership and anticipate our journey to elevate Rwanda to even greater heights,” he added
The Head of State announced the reappointment of Ngirente as Rwanda’s Prime Minister on Tuesday, August 13, 2024, a reflection of his trust in his leadership.
Ngirente has served as Prime Minister since August 30, 2017, when he was first appointed to Cabinet.
He is credited with prioritizing accountability in the last Cabinet, promptly dismissing underperforming ministers and informing the public.
Before joining Kagame’s Cabinet, Ngirente held various roles, including Senior Advisor to the World Bank Executive Director in 2017 and Advisor to the World Bank Executive Director from 2011 to 2017.
He also served as a Senior Economic Advisor to Rwanda’s Ministry of Finance and Economic Planning and was the Director General of National Development Planning and Research in the same ministry.
He holds a PhD in Economics from the University of Louvain (UCLouvain) in Belgium, a Master’s degree (MSc) in Agricultural Economics from UCLouvain, a Master’s degree (MA) in Financial Risk Management from Saint-Louis University in Brussels, a University Certificate in Statistics from UCLouvain, and a Bachelor’s degree in Economics/International Economics from the University of Rwanda.
The Office of the President announced Dr. Ngirente’s appointment on Tuesday evening.
Dr. Ngirente has been reappointed as Prime Minister two days after President Kagame took the oath of office for another term following the Presidential elections held on July 14-15, 2024. He had previously served as Prime Minister since August 30, 2017.
Dr. Ngirente is credited for prioritizing accountability in the outgoing Government, with underperforming ministers being promptly dismissed and the public informed.
The Government led by Dr. Ngirente started with 20 ministries but concluded with 21; two ministries were abolished, one was established, and another was reinstated.
The Ministry of Land and Forestry and the Ministry of State Investment were abolished, while the Ministry of National Unity and Civic Engagement was established, and the Ministry of Internal Security was reinstated.
Only three ministers who started with the Government in 2017, including Prime Minister Dr. Ngirente, remained in office until the end of the term.
Dr. Edouard Ngirente was born in 1973 in Mbirima and Matovu, in Mbilima Village of Coko Sector, Gakenke District, in the Northern Province. He attended primary school at Rwahi Primary School and continued his secondary education at Groupe Scolaire de la Salle, formerly in Byumba.
Dr. Ngirente studied Economics at the University of Rwanda and was among the first students there after the Genocide against the Tutsi.
Upon completing his studies, he worked in agronomy at the former National University of Rwanda in Butare, where he also taught. During that time, he was employed by the university on a project responsible for monitoring price fluctuations in markets.
He holds a Master’s degree in Statistics and Finance from the Université Catholique de Louvain in Belgium.
He served as the Director of Planning at the Ministry of Finance and Economic Planning before being appointed as an Economic Advisor at MINECOFIN. On March 30, 2011, a Cabinet meeting chaired by President Kagame at Village Urugwiro approved his request to take an indefinite leave of absence.
In 2014, Dr. Ngirente assumed the role of Advisor to the Executive Director of the World Bank in Washington, D.C., in the United States.
In 2016, he became a Senior Economic Advisor in the senior management of the World Bank, representing 22 countries, including Rwanda.
The signing of the Memorandum of Understandings (MoUs) took place at Urugwiro Village on Tuesday, August 13, 2024, when King Mswati III paid a courtesy visit to President Paul Kagame.
He inspected a guard of honour mounted by the Rwandan Defence Forces (RDF) before later witnessing the signing of the cooperation agreements.
The MoUs signed include cooperation agreements on Defense and Security, Police, Correctional Services, and mutual visa requirement exemptions for holders of diplomatic and service passports.
King Mswati III arrived in the country on Saturday to attend the inauguration of President Kagame which was held on Sunday, August 11, 2024.
Speaking after the signing of the agreements by representatives from the two countries, President Kagame said that King Mswati III’s visit reflects the friendly ties between the two nations.
He noted that the signing of the agreements presents an opportunity to strengthen cooperation bonds between Rwanda and the Kingdom of Eswatini.
“In Rwanda, we are very eager to share our experience and transformation journey with partners and friends such as Eswatini. That is why we established the Rwanda Cooperation Initiative across a wide range of sectors such as defense and security, ICT, education, agriculture, tourism, and trade,” President Kagame stated, adding that the two countries have a lot to offer each other.
President Kagame emphasized the importance of implementing the agreements, saying, “That is what creates tangible results on the ground.”
King Mswati III, on his part, said he looks forward to the full implementation of the signed MoUs.
He also expressed the Eswatini Kingdom’s intention to establish cooperation with Rwanda in areas such as agriculture, where Rwanda is well advanced.
“Our country could benefit from learning your best practices and technology to improve productivity,” King Mswati III said.
In addition, the King emphasized that Rwanda and Eswatini could benefit from collaborations in the tourism sector. Eswatini is a renowned tourist destination because of its rich traditional culture, while Rwanda boasts various tourism sites such as Lake Kivu, gorilla trekking, and various volcanic sites.
“Our countries are both renowned tourist destinations globally. There is potential for collaboration in the tourism sector, such as creating packages that could attract tourists from around the world,” he shared.
King Mswati III also noted that his visit to Rwanda is aimed at improving business opportunities for both countries and their people. His delegation visited Irembo, the company behind the government’s one-stop service portal and the economic zones in Kigali.
President Kagame said he would reciprocate the visit by going to Eswatini sometime in the near future.
For nearly five hours, ever since he opened the stall at around 10:00 a.m., he has been tirelessly welcoming customers. And the genuine smile on his face reveals just how much he enjoys his work, finding joy in every interaction.
Twenty-four-year-old Mugisha Djuma is among the hundreds of youths helping various traders showcase and sell their products at the 27th Rwanda International Trade Fair (RITF 2024). A substantial number of such youths are working with foreign traders, some of whom are showcasing their products in Rwanda for the first time.
Djuma tells me that he met his current employer on the first day of the expo, just as the Ugandan trader was about to stock her stall.
“We met on the first day at the main gate. We talked briefly, and she said she needed someone to help sell her products. I told her I was available, and that’s how she hired me,” Djuma explains.
Although IGIHE arrived after the trader had left to attend to other business engagements, Djuma told us that it was her second time at the trade fair.
“From my conversations with her, she enjoys coming to Rwanda,” Djuma shared.
Next to Djuma’s stall is Muhammad Saleem, a businessman from Pakistan who is selling kitchen accessories.
Saleem, trading under Omar Trading Company, is showcasing and selling saucepans and pots. The unique kitchen items can prepare rice, meat and other foods within 20 minutes without using any oil or butter.
He reveals that the pots, which use steam to prepare delicious food, can help people ‘shed excess weight without dieting.’ As he explains how the technology works, a young lady and man are busy attending to other customers who are eager to try the pots.
“It’s truly a gift for people concerned about weight and those with cardiovascular conditions,” he explains.
At the end of his three-minute demonstration, Saleem confirms that the two young women are locals whom he hired when the expo started.
As I tour the expo further, I learn that tens of other young people have benefitted from similar job opportunities at the trade fair.
Enatha Uwase, 20, helps an Egyptian national sell luxurious perfumes at the expo, while another young man, who only identified himself as Nestor, sells leather shoes for another Egyptian family at an adjacent stall.
The businessmen prefer to hire locally to overcome language barriers and ensure a deeper understanding of the local market dynamics and consumer preferences.
The young people I spoke to said that, besides providing them with a source of income, the expo also offers an opportunity to learn invaluable entrepreneurship skills from established business people.
I quickly learn that some of the vendors showcasing their products in Rwanda for the first time are interested in establishing local businesses. This presents the young people an opportunity to be retained even after the three-week expo closes on Thursday, August 15.
Organized annually by the Private Sector Federation (PSF), the expo draws participants from different countries. This year’s expo brought together more than 700 exhibitors from Egypt, Italy, Pakistan, the United Arab Emirates (UAE), Mozambique, Uganda, Kenya, and Tanzania, among other countries across the globe.
The expo provides a platform for businesses, professionals, and potential partners to meet, exchange ideas, and build relationships. This networking can lead to new partnerships, collaborations, and business opportunities.
Mozambique government official Adeline Balate observed that the expo offers the country excellent brand exposure for its products.
“We are here to expose the potential of our country in order to attract new investors to invest in different sectors such as agriculture, tourism, energy, infrastructure and mining,” he stated.
“We are also seeking to enter into partnerships with local companies who wish to import our products and supply the local markets,” he added.
Mozambique produces various food crops such as maize, sorghum, millet, beans, and groundnuts.
Besides the exposure, participants in such events can learn about the latest industry trends, technological advancements, and emerging innovations.
Egyptian national Adel Kamel, who sells gold-plated jewellery, has attended numerous expos in Rwanda over the past seven years. The 49-year-old has visited six other countries in Africa, but his experience in Rwanda remains unique.
“I love this country and its people. It is very safe and very clean. You have a kind President. I would like to do business here,” he revealed adding that he comes to Rwanda three times a year.
Some of the local companies that showcased their innovations at Expo 2024 include Irembo, which is responsible for building and maintaining the government’s one-stop service portal.
Irembo showcased its world-class, all-in-one service management platform and payment solution as it aims to expand the value these tools provide across different regions around the world.
Irembo has in the recent past established significant strategic partnerships to broaden its service offerings and reach new markets.
One major collaboration is the partnership with Old Mutual Rwanda, which aims to create an easy-to-use online platform where people can explore and purchase insurance products without the need for in-person consultations.
The colourful ceremony, graced by more than 20 Heads of State, marked the beginning of a new five-year mandate for the RPF-Inkotanyi chairman, who has put Rwanda on the world map with his transformative leadership.
As he returns to his Urugwiro Village office, his next major task will be to nominate members of his Cabinet who will assist him in implementing his development agenda for the next five years.
According to the Rwandan Constitution, President Kagame has 15 days to appoint a Prime Minister, who will then assist him in selecting Cabinet members.
After naming the Prime Minister, the President is required by law to appoint Cabinet members within 15 days, as per guidelines in Article 116 of the Constitution.
Therefore, Kagame is expected to appoint the Prime Minister by Monday, August 26, 2024, which will mark the end of the 15-day period.
Both the Prime Minister and Cabinet members serve at the President’s discretion, giving him all powers to either retain all, some, or none of the current members according to his strategic needs.
Article 118 of the Constitution of Rwanda provides that, before assuming office, the Prime Minister and Cabinet members must take an oath of office publicly before the President.
The Cabinet is accountable to both the President and Parliament. The members are, among other things, responsible for key roles, including policy development and implementation, administration and oversight of government programs and projects, budget management, and advising the President on various matters.
The next Parliament is expected to hold its first sitting within 30 days after the announcement of the final election results, which should occur by August 22, given that the results were announced on July 22.
The biggest task ahead for the new Cabinet will be to develop and implement policies to accelerate Rwanda’s growth in all areas, as pledged by Kagame during his swearing-in on Sunday.
He pledged “more hard work” while acknowledging that Rwanda had exceeded expectations in terms of growth over the past 30 years, despite being derailed by the 1994 Genocide against the Tutsi.
“Our tragic past ignited a fire in each one of us, the fire of hope, resilience, and justice,” Kagame said.
“From security to health, infrastructure, and jobs for youth, we are taking responsibility for our challenges and offering solutions. That is the mind set that brings us closer together and creates positive change over time for everyone.”
The Kenyan Head of State praised Rwanda’s tremendous growth in the political, democratic, and economic spheres since the 1994 Genocide that left the country in ruins.
He made these remarks while congratulating President Paul Kagame after he was sworn in for another term in office on Sunday, August 11, 2024.
President Ruto was among more than 20 Heads of State who attended Kagame’s inauguration for a fourth term at Amahoro Stadium.
Taking to X after the event, President Ruto noted that the new term presents an opportunity for Kagame to continue his transformative leadership in Rwanda.
“Congratulations to my brother, President Paul Kagame, for being sworn in for another term to continue transforming your country, Rwanda,” President Ruto wrote.
“In the past 30 years, the people of Rwanda have risen from the devastating ashes of the 1994 Genocide and undergone tremendous progress in the political, democratic, and economic spheres.”
He also lauded Rwanda as a valuable member of the East African Community, the African Union, and the international community.
President Kagame, who led the Rwandan Patriotic Army to liberate Rwanda in July 1994 was officially first elected president in 2000 after his predecessor, Pasteur Bizimungu resigned.
The RPF Inkotanyi flag bearer secured a landslide victory in the latest polls held in mid-July, garnering 99.16% of the votes cast. He defeated Frank Habineza of the Democratic Green Party of Rwanda, who got 0.5% of the vote, and independent candidate Philippe Mpayimana, who managed a minute 0.32%.
In his inauguration speech, the Head of State acknowledged that much has been achieved over the past 30 years, surpassing expectations. He pledged to continue efforts to build and advance the country.
“Our focus now returns to the future. For the last thirty years, our country has been a good work-in-progress. This new mandate means the beginning of even more hard work,” he told thousands of citizens and other dignitaries who attended the colourful ceremony.
Addressing thousands of citizens and other dignitaries who gathered at Amahoro Stadium to witness the momentous occasion, the Head of State began by thanking Rwandans for granting him another term to continue his development agenda.
“The electoral campaign was a period of joy and satisfaction for all of us. Millions attended rallies, and almost everyone went to vote,” President Kagame commended Rwandans.
He noted that much has been achieved over the past 30 years, surpassing expectations.
“Over the past three decades, what Rwandans have managed to accomplish is even more than we expected. Indeed, it is beyond what words can describe, given where we started from,” Kagame said amid chants of jubilations with more than 20 Heads of State in attendance.
Recounting Rwanda’s rise from the ashes of the 1994 Genocide against the Tutsi, President Kagame revealed that the new term presented another opportunity to achieve even more.
“Our tragic past ignited a fire in each one of us: a fire of hope, resilience, and justice. This is who we have become as Rwandans,” he noted.
“Our focus now returns to the future. For the last thirty years, our country has been good work-in-progress. This new mandate means the beginning of even more hard work.”
He affirmed that with exemplary leadership and collaborations, no goal is beyond reach and all aspirations are achievable.
“Why not do even better than we have done? That expectation to keep improving is not a dream, it is realistic. We can do it, and we will do it,” President Kagame added.
Kagame, who led the Rwandan Patriotic Army to liberate Rwanda from the Genocidal regime of Juvénal Habyarimana in 1994, was re-elected with 99.18% of the votes cast in the July elections.
He ran against two competitors: Dr. Frank Habineza of the Democratic Green Party of Rwanda, who got 0.50% of the vote, and independent candidate Philippe Mpayimana, who managed only 0.32%.
In the coming days, the newly elected Parliament is expected to take oath and begin its term before which the President will later present his appointed cabinet for approval.
Despite years of diplomatic efforts and international interventions, peace remains elusive, and Kagame’s speech laid bare the fundamental reasons why this is the case.
“Peace cannot be delivered by anyone from anywhere, no matter how powerful, if the party most directly concerned does not do what is needed,” Kagame said.
This statement emphasized that peace efforts cannot succeed if the parties directly involved in the conflict do not take the necessary steps. His words were a clear reminder that external forces, no matter how strong, cannot impose peace where there is no commitment from those at the heart of the conflict.
“You can’t wake up one day and decide to deny whoever you want their citizenship rights and expect to get away with it,” The Head of State warned.
Over the years, numerous initiatives have been launched to address the security challenges in eastern DRC. Diplomatic interventions, peace agreements, and mediation by regional leaders have all played crucial roles.
Kagame specifically acknowledged the contributions of Kenya and Angola’s leadership in these efforts.
“I would like to thank the President of Angola, President João Lourenço, and the President of Kenya, President William Ruto, among others, for everything they have done and continue to do,” he said, expressing gratitude for their dedication to regional stability.
However, despite these efforts, Kagame pointed out that peace cannot be achieved without a genuine commitment from those directly involved in the conflict.
“Peace cannot happen all on its own. We all have to do our part, and the right things, in order to achieve and sustain peace,” he emphasized.
The failure to address fundamental injustices, such as the denial of citizenship rights to certain groups, has been a significant barrier to peace. “There has to be a meeting in the middle. There has to be a compromise,” Kagame stressed, highlighting the importance of dialogue and mutual understanding.
Kagame also spoke about the broader global context, criticizing the double standards and unaddressed inequalities that have exacerbated regional conflicts. He called for a more just and equitable approach to international relations, where powerful nations do not impose their will on others.
“There is no longer room for the powerful to impose their vision about how others ought to live, or to create narratives that falsify the truth. This must always be resisted, even when under pressure,” he cautioned.
The President also highlighted the role of the African Union in promoting regional security and development. Since its establishment, the African Union has been instrumental in fostering a more integrated and secure Africa.
Kagame pointed to Africa’s progress in areas such as security, health, infrastructure, and youth employment as evidence that the continent is taking responsibility for its own challenges and offering homegrown solutions.
“That is the mindset that brings us closer together and creates positive change over time for everyone,” he said, emphasizing the importance of African unity and self-reliance.
Kagame expressed optimism about the future, both for Rwanda and the broader region, imploring the need for continued hard work and dedication to achieving lasting peace and development.
“Why not do even better than we have done? That expectation to keep improving is not a dream, it is realistic. We can do it, and we will do it,” Kagame declared.
Peace has remained elusive in the region despite numerous efforts and while external interventions are important, true peace can only be achieved when those directly involved take responsibility and commit to the necessary compromises and actions.
The ongoing efforts by regional leaders and the African Union provide a strong foundation, but it is up to the local actors to make peace a reality.
This fourth presidential term is a challenge for all leaders and citizens to rise to the occasion and work together to build a stable, secure, and prosperous future for all.
