Among these leaders were the Chairman of the AGRA Board, Hailemariam Desalegn, and the President of AGRA, Dr. Agnes Kalibata.
The Office of the President has explained that their discussions focused on the upcoming African food conference to be held in Kigali from September 2 to 6, 2024, and the journey of agricultural transformation on the African continent.
“This afternoon at Urugwiro Village, President Kagame received Alliance for a Green Revolution in Africa [AGRA] Board Chair, H.E Hailemariam Desalegn, AGRA President Dr. Agnes Kalibata and their delegation for discussions on the upcoming Africa Food Systems Summit and the progress of agriculture transformation on the continent,” reads the statement.
AGRA’s primary goal is to aid Africa in achieving food self-sufficiency and surplus for export through agricultural development.
In 2022, the alliance initiated a five-year plan aimed at enhancing agriculture in 16 countries where it operates, including Rwanda.
Desalegn explained that the program would cost $550 million.
He stated, “We aim to transform the nutrition of Africans, ensuring that everyone has access to affordable and nutritionally diverse diets. However, this comes at a cost, requiring $550 million to support the program.”
AGRA was established in 2006 by Kofi Annan, the Ghanaian who served as the Secretary-General of the United Nations. He led its Board until 2013 when he was succeeded by Strive Masiyiwa, who was then replaced by Desalegn in 2019.
Over the past couple of years, the company has made strides in innovating and expanding its brand portfolio to meet evolving consumer preferences.
As part of the expansion project, Bralirwa invested over 30 million Euros (40 billion RWF) that included the installation of its inaugurated packaging line. This is in line with the company’s commitment to developing the Rwandan beer market for sustainable growth and proactively investing in digital technology and innovation to improve its operations.
The new production line will also operate with reduced energy and water consumption, contributing to HEINEKEN’s mission to achieve net-zero across all its production sites by 2030.
The event, which was held at the company’s brewery in Rubavu District, was graced by RDB Ag. Chief Investment Officer, Mr. Philip Lucky, Her Excellency the Ambassador of the Netherlands, Ambassador Joan JJ Wiegman, the Mayor of Rubavu District, Mr. Mulindwa Prosper, the Director General of Industrial Promotion and Entrepreneurship Development at the Ministry of Trade and Industry, Mr. Fred Mugabe, as well as representatives from the private sector, distributors, and others.
Speaking at the event, Saada Etienne, Bralirwa’s Managing Director, thanked the Rwandan government for its visionary leadership, transparency, and commitment to promoting sustainable investment.
” For the past 67 years, Bralirwa has continuously invested in innovation and growth with a clear goal – to win the hearts of our customers. This has been made possible by an environment conducive to growth and prosperity, as well as the commitment and dedication of our key stakeholders and employees,” said Etienne Saada, Managing Director of Bralirwa.
RDB Ag. Chief Investment Officer, Mr. Philip Lucky, commended Bralirwa for its continued investment in the country and said that the new production line is a testament to the company’s commitment to its vision, dedication, and continuous investment.
“This brewery expansion is a shining example of the positive impact that strategic investments can have on our economy and society,” said Mr. Philip.
Bralirwa’s commitment to customer satisfaction is evident through its ongoing investment initiatives. The leading beverage company has taken a significant step towards its commitment to excellence, quality, and passion for delivering products that its consumers love.
In audited financial results announced on Friday, March 22, 2024, the bank disclosed that its profit after tax rose to Rwf10.7 billion from Rwf9.3 billion in 2022 with the headline earnings rising by 18 per cent to hit Rwf46.7 billion.
The financial results show that I&M Bank Rwanda’s net interest income grew by 10 per cent, primarily fueled by improved margins on interest-earning assets, particularly in the loan portfolio and investment securities which grew by 35 per cent and 7 per cent respectively.
Further, fees and commission income rose 23 per cent year-on-year driven by the rise in digital transactions. The bank’s investment in enhancing the customers’ digital experience also paid off, leading to the significant revenue increase from payments.
Foreign currency trading profits increased by 74 per cent year-over-year, helped by a higher volume of foreign exchange transactions.
Additionally, the bank recorded gains of Rwf8.4 billion on investment securities, compared to Rwf5.5 billion in the preceding period.
Benjamin Mutimura, the Chief Executive Officer (CEO), attributed the strong performance to strong customer relationships, dedicated staff and strategic partnerships, which bore desired results.
“Despite a changing environment, we achieved strong financial results, credited to strong customer relationships and our dedicated staff. We’re committed to being a trusted financial partner, leading digital transformation in Rwanda with innovative propositions like the ‘Agiserera’ and ‘Iyubake’ campaigns to drive growth for Micro, Small, and Medium Enterprises (MSMEs),” the CEO said.
“Additionally, the Bank entered a strategic partnership with the Swedish International Development Cooperation Agency (SIDA) to enhance the growth and resilience of MSMEs in Rwanda. Through this innovative Portfolio Guarantee Agreement, the Bank will provide a financial safety net for MSMEs, covering up to 70 percent of their financing needs, enabling our customers to borrow up to Rwf 350 million without requiring any collateral. Our online onboarding and Irembo Government service payments have supported economic recovery,” he added, further expressing his optimism about the bank’s outlook for 2024.
{{Operating expenses }}
The bank’s, operating expenses increased by 18 per cent with the bank attributing the rise to investment in the locals. The bank recorded 17 percent increase on staff costs year on year from human capital development and cost of living adjustments.
Other operating expenses rose by 24 per cent driven largely by enhancement of technological customer facing platforms to improve operational resilience and customer satisfaction.
Impairment charges went down by 17 percent despite loan book expansion, attributed to successful recoveries. This, the bank said, reduced the cost of risk on gross loans and advances to 94 percent basis point from 1.61 percent, indicating improved asset quality.
The bank also posted an impressive 35 per cent growth on the loan portfolio on the year under review.
Additionally, the bank recorded a 51 per cent growth in deposit base to hit Frw539 billion.
Similarly, shareholders’ funds soared by 10 per cent with the bank attributing the gains to a strong 17 per cent increase in retained earnings which stood at Frw55.6 billion as of December 31, 2024.
Owing to the good performance, the bank’s earnings per share increased by 15 per cent to Rwf7.06 compared to the previous year. Consequently, the Board of Directors has recommended a dividend payout of Frw1.41 per share, pending approval by shareholders at the next Annual General Meeting.
The company said that deliveries of battery electric vehicles (BEVs) jumped by 74.4 percent year-on-year, to more than 376,000 units, meeting the full-year target for all-electric vehicles in total sales of 15 percent.
“With our new, highly attractive and technologically outstanding vehicles, we were able to ramp up electromobility even more dynamically in 2023,” said Jochen Goller, member of the board of management of BMW AG.
This year, one in five of the company’s newly-built cars is set to be a BEV, and by 2025 the target is one in four. “We see continued high demand for our fully-electric products,” Goller added.
In China, the carmaker saw sales of the BMW brand and MINI rise by 4.2 percent, to almost 825,000 vehicles.
The acquisition follows the fulfilment of conditions precedent to the acquisition, including regulatory and corporate approvals and was completed on November 30, 2023. EGH now holds 198,250 shares representing 99.1250% of the issued share capital of Cogebanque, officially making Cogebanque its subsidiary.
On June 14, 2023, EGH publicly disclosed its entry into a binding term sheet for the acquisition of 91.93% of Cogebanque’s issued shares from the Government of Rwanda, Rwanda Social Security Board, Sanlam Vie Plc, and Ms. Judith Mugirasoni (the sellers).
The completion of the acquisition was subject to various conditions, including confirmatory due diligence, execution of definitive agreements, regulatory approvals from the Central Bank of Kenya, the National Bank of Rwanda, the COMESA Competition Commission, and corporate approvals.
The Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana said, “The consolidation of Equity Bank Rwanda Plc and Cogebanque will create a stronger and more resilient banking institution better equipped to serve the needs of the people of Rwanda and will contribute to Rwanda’s economic growth and development. Additionally, this partnership demonstrates investors’ confidence in Rwanda’s economic potential and presents new opportunities for the financial sector to thrive.”
On July 28, 2023, EGH entered into a share purchase agreement with the Sellers by which it agreed to acquire, on completion, 183,854 shares at a price of Rwanda Francs 297,406 per share.
Simultaneously, EGH offered to acquire all the remaining shares from the rest of the Cogebanque shareholders, intending to acquire up to 100% of the issued shares of Cogebanque.
Equity Group Holdings Plc Managing Director and CEO, Dr. James Mwangi, said, “We are delighted to welcome Cogebanque’s employees and customers to Equity Group. Through our focus on innovation, cutting-edge technology, and superior service, we aim to provide enhanced financial services, improve lives, expand opportunities for wealth creation, and deliver significant value to all our stakeholders in Rwanda.
The eventual merger of Cogebanque and Equity Bank Rwanda will consolidate Equity Group’s position in Rwanda and support delivery of its overarching strategy, the Africa Recovery and Resilience Plan. The expansion of Equity Group’s business in Rwanda aims to bolster Rwanda’s financial services landscape and fortifies the Group’s commitment to catalyzing socio-economic development across the African continent.”
Dr. Mwangi went further to add, “By synergizing the operations of Cogebanque and Equity Bank Rwanda, EGH is strategically positioned to deliver an expanded array of competitive, customized financial services. This strategic alignment is designed not only to meet the diverse needs of our customers but also to catalyze economic growth, empower local communities, and contribute to the realization of the Group’s vision as Sub-Saharan Africa’s premier financial institution.”
According to its recently released results as at 30th September 2023, Equity Group Holdings reported deposits growth of 20% to Kshs1,208.6 billion up from Kshs 1,007.3 billion with subsidiaries contributing a 49% growth and Equity Bank Rwanda growing by 39%. Loans grew by 26% to Kshs 845.9 billion up from Kshs 673.9 billion with subsidiaries contributing a 46% growth, and Equity Bank Rwanda growing by 20%. Total assets grew by 24% to Kshs1,691.2 billion up from Kshs1,363.7 billion again with subsidiaries contributing 47% and Equity Bank Rwanda growing by 40%.
{{About Cogebanque}}
Cogebanque is a public limited company licensed by the National Bank of Rwanda to provide banking services in Rwanda. At the end of 2022, Cogebanque was the fifth largest bank in Rwanda as measured by reported book value of total assets and shareholders’ equity and served customers in the corporate, small- and medium-sized enterprise and retail customer segments through twenty-eight (28) branches, approximately six hundred (600) active bank agents and thirty-six (36) automated teller machines.
As at 31st December 2022, Cogebanque reported net assets of Rwf47.35 billion and profit after tax of Rwf9.06 billion.
{{About Equity Bank Rwanda Plc}}
Equity Bank Rwanda Plc is a wholly owned subsidiary of Equity Group Holdings Plc and is licensed by the National Bank of Rwanda to provide banking services in Rwanda. Equity Bank Rwanda ranked third amongst Rwandan banks in terms of reported total assets as at 30th September 2023 and served over 1,351,486 customers through a network of 18 branches, 3,880 agents, 23 ATMs and 1,775 merchants.
As of 30th September 2023, Equity Bank Rwanda Plc reported total assets of Rwf682.9 billion, and profit after tax of Rwf23.2 billion.
{{About Equity Group Holdings Plc and Equity Group}}
Equity Group Holdings Plc is a non-operating holding company with banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan and Democratic Republic of Congo, a Commercial Representative Office in Ethiopia and non-banking subsidiaries in Kenya that are engaged in providing investment banking and stock-broking, insurance, custodial services, payment services and telecommunication services.
Equity Group Holdings Plc is listed at the Nairobi Securities Exchange and other regional exchanges with a market capitalization of KES. 1.34 trillion (USD 0.9bn).
Equity Group Holdings Plc reported a consolidated asset base of KES. 1.7 trillion (USD 11.4bn), deposits of KES. 1.21 trillion (USD 8.2bn) and 8,155.0a customer base of over 18.9 million customers as at 30th September 2023. Equity Group has a footprint of over 360 branches, 69, 656 Agents, over 950,000 Pay With Equity (PWE) Merchants, 34,844 Point-of-Sale (POS) Merchants, over 700 ATMs and an extensive adoption of digital and mobile banking channels.
The impressive profit is largely attributed to the exceptional services provided by its subsidiaries, including Bank of Kigali, BK General Insurance, BK TecHouse, and BK Capital Ltd. The financial figures were unveiled on Wednesday, November 29, 2023.
In addition to the nine-month results, BK Group recorded a profit of Rwf18.2 billion in the third quarter of 2023, marking a significant 19.8% surge compared to the corresponding period last year.
CEO Béata Habyarimana expressed her satisfaction with the sustained growth of the company, attributing the success to the collaborative efforts of its subsidiary companies. This collective strength has fortified BK Group’s position in the market, reflecting positively in the financial results.
Habyarimana conveyed optimism for continued growth in the fourth quarter of 2023, emphasizing the resilience and strategic initiatives contributing to the company’s upward trajectory.
Furthermore, Habyarimana announced that the board of directors has decided to distribute Rwf8 billion in dividends in December, reflecting the company’s commitment to delivering value to its shareholders.
The statistics further reveal that BK Group PLC’s total assets reached Rwf1,195.9 billion in the first nine months, reflecting a robust 13.3% increase compared to the corresponding period last year.
Additionally, customers’ balances and deposits totaled Rwf1,260.9 billion, further highlighting the strong financial standing of the company.
BK Group PLC continues to showcase resilience and growth, reaffirming its commitment to delivering value to both shareholders and customers in the dynamic financial landscape.
In this pursuit of success, while securing funding remains undeniably significant, the roles of innovation and astutely identifying market demands cannot be understated. This collective effort underscores the urgency of creating more avenues for growth and employment.
Among the examples of such endeavors, Vuba Vuba Ltd, a startup that emerged with a purpose, encapsulates the transformative power of innovative ideas.
The company, operating within the domain of food delivery services via a robust e-commerce platform, has emerged as a disruptor. The fruits of their labor are becoming evident, epitomized by their recent distinction as one of the top 20 finalists in this year’s prestigious [Africa’s Business Heroes (ABH)->https://africabusinessheroes.org/en/] competition.
ABH, a cornerstone initiative now in its fifth consecutive year, embodies the promise of surmounting challenges and propelling the continent toward greater heights. This ambitious Prize Competition, championed by the Jack Ma Foundation and Alibaba Philanthropy, resonates as a philanthropic beacon.
It aspires to support and ignite the ambitions of the next generation of African entrepreneurs across a spectrum of industries. The ultimate vision is to cultivate an economy that is both sustainable and inclusive, nurturing the continent’s future.
Rwanda’s unwavering participation in ABH since its inception in 2019 has yielded tangible results. Four Rwandan entrepreneurs have achieved coveted positions among the top 10 winners in the years 2019, 2021, and 2022, respectively.
Cumulatively, Rwanda’s triumphs have translated into a substantial grant amounting to over US$385,000, a testament to the program’s profound impact. This accomplishment serves as an inspiring precedent, illuminating the path for more Rwandan startups, as well as those from other nations, to seize the forthcoming five editions of ABH. The rewards that stem from active participation hold the potential to accelerate the growth trajectory of their enterprises.
The current year witnesses a remarkable surge in submissions to ABH, a testimony to the burgeoning entrepreneurial zeal across Africa. Amidst a staggering pool of 27,267 applications hailing from all 54 African countries, the CEO & Co-Founder of Vuba Vuba Africa Ltd, Albert Munyabugingo, stands tall. Alongside the remaining top 20 entrepreneurs, he has emerged from this competitive crucible. Among these contenders, Rwanda claims representation through a single entrepreneur within the ABH Top 20.
As the journey advances, these 20 visionary entrepreneurs inch closer to the pivotal moment when they will present their exceptional business propositions to global luminaries in Kigali this early September. The pitching session will ascertain the elite top 10, who will collectively share the substantial grant of US$1.5 million.
In an exclusive interview with IGIHE, Munyabugingo elaborated on his brainchild’s nuances, its potential impact on Africa’s entrepreneurship ecosystem, and the expedition that has earned him a spot among the top 20.
{{Excerpts: }}
{{1. Could you provide a brief overview of your company’s mission and the innovative solution it offers to the community?}}
{{Munyabugingo:}} [Vuba Vuba->https://www.vubavuba.rw/] is an e-commerce mobile app that provides a convenient solution currently for residents in Kigali, Musanze and Rubavu to order meals and daily essentials for delivery to their homes or offices in less than an hour.
{{2. Poverty reduction through entrepreneurship is a crucial goal, especially in African countries. How does Vuba Vuba Africa Ltd contribute to this goal, and what inspired you to start this venture?}}
Vuba Vuba contributes to poverty reduction through empowering entrepreneurs at an entry level in Rwanda to scale.
For instance, we work with more than 10 start-ups registered as restaurant businesses in Rwanda with no space for dining. They just cook and deliver through Vuba Vuba.
Since its launch in January 2020, Vuba Vuba has a team of 31 full-time employees, 100 delivery riders, and 50 casual workers.
Together, they have facilitated the delivery of more than 1,000,000 orders, maintaining an impressive daily average of 1,000 deliveries.
I co-founded Vuba Vuba Africa Ltd in January 2020 with my colleague Innocent Kaneza.
We wanted to build a strong local tech solution for e-commerce. The inspiration to start an e-commerce mobile app was to fill in the gap that was left on the market after Jumia exited the Rwandan market in 2019.
We believed we are the best fit for it and to build a strong local tech solution for e-commerce, we decided to retain Jumia’s former employees who had been left jobless. Last week we launched a new version of the app that we are very excited about as it speaks to growth.
{{3. Vuba Vuba Africa Ltd operates in the agri-food sector. Could you delve into the specific ways your company addresses challenges in delivery services and contributes to national development?}}
Vuba Vuba collaborates with fresh produce sellers to bridge the gap for clients facing time or distance challenges. Our services enhance access to fresh produce, empowering local businesses to reach a wider customer base. We are also working on connecting farmers with our partner restaurants directly.
{{4. Innovation plays a pivotal role in today’s business landscape. How do you foster a culture of innovation within your company, and what role has it played in your success?}}
At Vuba Vuba, we drive growth by incentivizing staff contributions. Our inclusive recruitment seeks innovative minds to tackle challenges head-on, fostering creativity and driving solutions for our business. From Junior positions, we allow sharing of ideas on how to tackle growth challenges.
{{5. You were recently selected as one of the top 20 entrepreneurs by the Jack Ma Foundation’s Africa’s Business Heroes initiative. Could you share your initial reaction when you found out you were among the top 20 out of over 27,000 applicants from across Africa?}}
The email came in late at night and it’s the first thing I saw in the morning; you can imagine the smile on my face since then. This is a huge milestone being selected to be supported by one of the world’s greatest pioneers of e-commerce, a sector in which I am.
{{6. How was the journey of participating in Africa’s Business Heroes? }}
Africa’s Business Heroes (ABH) is one of the biggest platforms one would love to be part of. To me, it is the first with so many giants in the entrepreneurship ecosystem in Africa and beyond. I have learnt more so far, have connected with great minds and even looking to continue doing so as we want to expand Vuba Vuba to more African countries.
{{7. The upcoming ABH event in Kigali sounds exciting. Can you please tell us about your expectations for pitching your business idea to global business legends and the potential impact winning the grant could have on Vuba Vuba Africa Ltd?}}
As we approach the pitching session, we are diligently preparing day and night, with the goal of winning the prize that would fuel our growth strategies. This encompasses broadening the range of products and services we provide, as well as extending our solution to reach a wider audience across the African continent.
{{8. Rwanda has been consistently successful in the ABH initiative, with several entrepreneurs emerging among top winners. What factors do you think have contributed to Rwanda’s success, and how can other aspiring entrepreneurs learn from this experience?}}
Rwanda as a country, has created a very promising environment with incentives for innovation and entrepreneurship generally for local and international companies looking at having Rwanda as their first market of operations as well as expansion. Vuba Vuba is a practical example of such companies. I have not had any business outside of Rwanda but from different conversations, Rwanda really works.
{{9. The entrepreneurial spirit in Africa seems to be growing rapidly. What advice would you give to young entrepreneurs who are looking to make a positive impact through their business ideas, especially considering the current economic challenges?}}
My advice to upcoming entrepreneurs is quite simple: build an impactful solution, spend time defining your processes, adapt your processes to your market, speak to your users/customers to understand their needs because I believe – as ABH’s theme states it, {{IT’S AFRICA’S TIME }} and we will have enough customers for different products if they are well designed for the market. If this works well, I strongly believe investment will follow you.
{{10. Lastly, for other entrepreneurs who might be considering participating in future editions of Africa’s Business Heroes, what key takeaways or insights would you like to share from your own experience?}}
My experience with ABH is that the application is long for a very good reason. It gives you time to go back to your business’ basics and understand them even deeper. From any sector you might be operating in, not necessarily tech, this is a very good platform for mentorship, meeting the right investors and connecting with fellow founders.
While applying, be real, do not fake numbers, [the ABH application->https://africabusinessheroes.org/en/] opens every year for another 5 years ahead from now.
The CEO of I&M Bank, Benjamin Mutimura credits the bank’s diverse business model, resilient balance sheet, and commitment to customer service for these results despite challenging macroeconomic conditions.
Net revenue reached Rwf21.5 billion, with a 4% increase in net interest income due to loan and investment growth. Fees and commissions rose by 22%, driven by digital adoption and an expanding customer base.
Foreign exchange revenue surged by 59%, while operating expenses grew by 26%, attributed to technological investments and inflation. The Non-Performing Loans ratio remained stable at 3.62%, demonstrating an improved loan book quality.
Total deposits increased by 10%, with MSME deposits growing by an impressive 36%. Around 72% of customer deposits were in current and savings accounts. To enhance MSME focus, I&M Bank formed a strategic alliance with FMO, a Dutch development bank, to establish the NASIRA Portfolio Guarantee for smallholders, youth, and women entrepreneurs.
Mutimura emphasized the bank’s commitment to economic recovery, innovation, digital solutions, and strong customer relationships.
The acquisition, valued at Rwf54.68 billion, propels Equity Bank to a prominent position among the local banking giants, now ranking as the second-largest bank in Rwanda in terms of portfolio size.
Dr. James Mwangi, the CEO of Equity Group, expressed his satisfaction with the deal, highlighting its potential to drive a 54% growth for Equity Bank Rwanda and increase its lending capacity from US$15 million to at least US$25 million. This boost is expected to greatly benefit entrepreneurs and loan applicants seeking financial support.
Dr. Mwangi emphasized that this acquisition goes beyond a simple sale; it signifies a collaboration that fosters economic and commercial development in the region, holding the potential to positively impact local economic players.
The acquisition of Cogebanque Plc by Equity Bank is also anticipated to stimulate the creation of various job opportunities.
Dr. Uzziel Ndagijimana, the Minister of Finance and Economic Planning, praised the spirit of collaboration between the two parties and celebrated the swift conclusion of the deal, with negotiations taking only one month.
According to Minister Ndagijimana, this acquisition will make a significant contribution to accelerating the country’s economic growth.
The merger was officially sealed on Friday, July 28, 2023, at the Ministry of Finance and Economic Planning premises, with the participation and signatures of Rwandan stakeholders, including the government, RSSB, Sanlam, and Judith Mugirasoni, the representative of Bertin Makuza’s interests.
According to a statement announcing the development, the acquisition of the fifth largest bank, and subsequent amalgamation of the business with that of Equity Group’s existing banking subsidiary in Rwanda, would position Equity Bank as the 2nd largest bank in Rwanda after the merger with a total combined assets market share of 18% and a deposits market share of 19% based on audited accounts as at 31st December 2022.
The transaction would solidify Equity Group’s systemic status in the region with the amalgamated Rwanda subsidiary joining Equity Bank Kenya and Equity BCDC in the Democratic Republic of Congo as banks with the second largest market share in their respective markets.
Commenting on the development, Dr, James Mwangi, Group Managing Director and CEO, Equity Group Holdings Plc said: “Rwanda’s 5-year average GDP growth rate at 6.5% ranks it amongst the 10 fastest growing countries in the world.”
“Rwanda’s economic growth is expected to be supported by a continued ease of doing business, recovery of global travel that will underpin its tourism and Meetings, Incentives, Conferences and Exhibitions (MICE) strategy targeting Foreign Direct Investments, regional integration, supporting trade and increasing contribution to its manufacturing sector.
An underpenetrated financial services sector, with private sector credit and GDP being below 30% provides a well-defined secular growth opportunity for the financial services Group,” he added.
Dr. Uzziel Ndagijimana, Rwanda’s Minister of Finance and Economic Planning has also welcomed the acquisition.
“Equity Group’s acquisition of Cogebanque reflects the trust and confidence placed in Rwanda’s economic prospects and the resilience of our financial industry,” he noted.
“The consolidation of these two institutions will undoubtedly contribute to the growth and stability of Rwanda’s banking sector, enabling us to provide better financial services to our citizens and facilitate economic empowerment,” added Dr. Ndagijimana.
