Nteziryayo’s appointment was announced on December 24. She takes over from Kampeta Pitchette Sayinzoga, whose six-year tenure was marked by significant institutional growth, improved financial performance, and an expanded role in mobilizing both domestic and external capital to support Rwanda’s national development priorities.
During the past six years, data show that BRD’s total assets grew from Frw 157 billion to over Frw 1.02 trillion, while the loan portfolio increased from Frw 167 billion to Frw 710 billion.
Annual profitability turned around from a loss to a profit of Frw 22.8 billion, reflecting improved financial sustainability. The bank also achieved a fourfold leverage effect, mobilising three additional francs from external sources for every franc invested by the government.
Over the same period, BRD’s investments contributed to a wide range of national priorities. Notable achievements included connecting over 500,000 households to electricity, raising export volumes from 80 metric tonnes to 8,566 metric tonnes, and issuing Rwanda’s first sustainability-linked bond, which raised Frw 63.5 billion for impact-driven projects.
In education, the digitalisation of the Government student bursary scheme enabled faster disbursements and expanded support for post-graduation bursary reimbursements.
Nteziryayo brings over a decade of experience in macroeconomic policy, debt management, fiscal strategy, and sustainable finance.
She previously served as Chief Economist at the Ministry of Finance and Economic Planning, where she played a central role in shaping Rwanda’s medium-term economic framework, coordinating sovereign financing, and enhancing fiscal sustainability.
BRD, established in 1967, continues to play a key role in providing long-term, tailored financing to sectors critical for Rwanda’s socio-economic transformation, aligned with Vision 2050 and the National Strategy for Transformation.
By the end of the year, President Kagame had made official visits to 17 countries across four continents, including nine in Africa and five in Asia.
The year’s international engagements commenced on January 7, 2025, with a visit to Accra, Ghana, where he attended the inauguration of President John Dramani Mahama and Vice President Naana Jane Opoku-Agyemang.
On January 13, President Kagame participated in the Abu Dhabi Sustainability Week, a key conference focused on enhancing global cooperation to address climate change. Shortly after, on January 22, he and First Lady Jeannette Kagame embarked on a working visit to Turkey.
In February, President Kagame attended an extraordinary summit of heads of state from the East African Community (EAC) and the Southern African Development Community (SADC) in Dar es Salaam, Tanzania, on February 8. On February 12, he traveled to Doha, Qatar, for further engagements.
On February 14, the President participated in the 38th Ordinary Session of the African Union (AU) Summit in Addis Ababa, Ethiopia. Then, on May 5, 2025, he attended the inauguration of Gabon’s new president, Oligui Nguema.
President Kagame continued his diplomatic engagements on May 7, visiting Paris where he held talks with French President Emmanuel Macron. On May 12, he attended the Africa CEO Forum in Côte d’Ivoire.
Later on May 27, President Kagame traveled to Kazakhstan to participate in the Astana International Forum, where he also held discussions with President Kassym-Jomart Tokayev.
In June, President Kagame visited Algeria at the invitation of President Abdelmadjid Tebboune. On August 31, he attended the African Food Security (AFS) Summit in Senegal, hosted by President Diomaye Faye.
President Kagame’s travels continued in September with a three-day visit to Azerbaijan on the 19th. On September 23, he was in Egypt, where his visit culminated in the signing of several bilateral agreements, including one on land exchange.
On October 9, the President attended the EU-Africa Global Gateway Forum in Brussels, Belgium. Later that month, on October 27, he participated in the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia.
On November 3 , President Kagame returned to Doha to attend the World Summit for Social Development. He later visited Guinea-Conakry on November 11, for a two-day working visit.
The final international trip of the year took place on December 2, when President Kagame arrived in Washington D.C. to attend a signing ceremony for Peace Accords between Rwanda and the Democratic Republic of Congo. This marked the conclusion of his official travels abroad for 2025.
The decision was taken in line with the principle of reciprocity, according to a statement signed by Minister of Foreign Affairs, Regional Cooperation and Burkinabe Abroad of Burkina Faso Karamoko Jean Marie Traore.
The United States announced on Dec. 16 that it would fully suspend the entry of Burkina Faso nationals starting Jan. 1, 2026.
The statement reaffirmed Burkina Faso’s commitment to mutual respect, sovereign equality of states and reciprocity in international relations.
Burkina Faso also remains open to cooperation with all partners, provided that such cooperation is based on respect for reciprocal interests, the statement emphasized.
The court session followed extensive submissions from both the Prosecution and Defence teams over alleged errors in the indictment. The Defence, led by lawyer Erias Lukwago, argued that the amended indictment still contained inconsistencies.
“The indictment talks of another person, who in my submission is a third, but the summary of the case talks of four people,” Lukwago noted, urging the court to correct the discrepancies.
Justice Emmanuel Baguma adjourned the matter until January 21, 2026, when the case will next be mentioned.
According to the amended indictment, the accused are charged with two counts of misprision of treason. The Prosecution alleges that they held meetings in multiple countries, including Switzerland, Greece, and Kenya, to plot the overthrow of the Ugandan government by force. It further claims that Dr Besigye solicited and received $5,000 to facilitate the travel of 36 people from Uganda to Kisumu, Kenya, for training linked to the alleged plot.
The developments came a day after Besigye and Lutale were denied bail for the fourth time. Justice Emmanuel Baguma ruled that bail could not be granted until the accused had formally entered a plea to the charges.
Provisional results indicated that Doumbouya secured 86.72 percent of the first-round votes, winning by a wide margin over the other eight candidates.
Abdoulaye Yero Balde, leader of the Democratic Front of Guinea, came a distant second with 6.59 percent of the votes.
According to the electoral authority, about 6.8 million voters were registered for the poll, with a turnout of 80.95 percent. No major security incidents were reported during the election. Political actors, electoral authorities, as well as domestic and international observers generally agreed that the voting process was calm and orderly.
Earlier on Tuesday, four candidates acknowledged their defeat and congratulated Doumbouya on his victory. The Supreme Court is expected to validate and proclaim the final results in the coming days.
This is the first presidential election in Guinea since a military coup overthrew former President Alpha Conde in September 2021, marking an important step toward restoring constitutional order.
In September, Doumbouya promulgated a new constitution through a referendum and announced the presidential election. The new constitution lifted the ban on junta members running for office and extended the presidential term from five to seven years, paving the way for Doumbouya’s candidacy.
According to the official website of the Guinean presidency, Doumbouya, 41, was born on Dec. 5, 1984, in Kankan, in the northeast of the country.
According to a public notice issued by the city authorities, fireworks will light up the skyline at exactly midnight on the night of December 31, 2025, to January 1 2026, as Kigali joins cities around the world in welcoming the New Year.
The displays will take place at several public locations, including City Hall, Kigali Pelé Stadium, Canal Olympia, and Kigali Heights, offering residents and visitors multiple vantage points to enjoy the celebrations. In addition, fireworks will also be launched from selected private venues, namely Hôtel des Mille Collines, Atelier du Vin, Serena Hotels, and KCC Parkings.
City authorities reassured the public that the fireworks are part of a planned and safe activity, organised to celebrate the year’s end and the dawn of a new one. Each display is expected to last between 10 and 19 minutes, creating a vibrant and memorable moment as the countdown to 2026 reaches its climax.
As festivities unfold, the City of Kigali has reminded revellers to drink responsibly and strictly avoid serving alcohol to anyone under the age of 18, emphasising the importance of safety and responsibility during the celebrations.
“We wish everyone a safe and joyful festive season,” the City of Kigali told the residents.
The New Year’s crossover is highly anticipated each year, symbolising fresh beginnings, renewed hope, and collective reflection. Across the globe, cities will be counting down to midnight at different moments depending on their time zones.
The very first place in the world to welcome 2026 will be Kiritimati Island (Christmas Island) in Kiribati, which operates on UTC+14. The island will ring in the New Year at 12:00 p.m. Kigali time. It will be followed by the Chatham Islands of New Zealand (UTC+13:45), before larger Pacific nations such as New Zealand, Samoa, and Tonga enter the New Year, with cities including Auckland, Wellington, Apia, and Nuku‘alofa marking midnight soon after. Countries such as Fiji, Kiribati’s Gilbert Islands, and parts of Russia will follow, with cities like Suva, Tarawa, and Anadyr joining the celebrations.
While these islands are technically first, global attention often turns to major international hubs. Auckland is widely recognised as the first major metropolitan city to welcome the New Year, followed by Sydney, renowned for its world-famous fireworks display. Tokyo and Seoul then usher in the New Year shortly afterwards, continuing the wave of celebrations across Asia.
“We are discussing this with President Trump and representatives of the Coalition of the Willing. This would be a strong position in security guarantees,” Zelensky told reporters, adding that the decision on the issue will be made by the United States.
Earlier on Tuesday, Zelensky said in a post on Telegram that national security advisors of the Coalition of the Willing countries plan to meet in Ukraine on Jan. 3, 2026, followed by a leaders’ meeting in France on Jan. 6.
“The suspension of Major General Sylvain Ekenge from his position as spokesperson for the FARDC is, in fact, just a smokescreen aimed at the international community, as the problem at the top of the state is deeply rooted,” Nduhungirehe said.
He added that the decision, which he said was clearly taken under Western pressure, echoed historical instances where individuals accused of incitement were protected rather than held accountable.
“This suspension reminds us of the exfiltration of Léon Mugesera by President Juvénal Habyarimana after his inflammatory speech in Kabaya in November 1992,” the minister noted.
After Mugesera declared that Tutsi would be killed and dumped into the Nyabarongo River to be sent back to Abyssinia, the judiciary at the time sought to prosecute him. However, the top leadership of the MRND party protected him and helped him flee.
In 1992, Mugesera first went to Spain and later to Canada, where he worked as a university lecturer until January 2012, when he was extradited to Rwanda to face charges brought by the courts.
Nduhungirehe recalled that Mugesera’s speech took place at a time when the Rwandan state was already organising and enabling violence against Tutsi.
“I also remind you that at the same time, President Habyarimana was creating the infamous Interahamwe militia, which was already committing massacres against the Tutsi in Kibilira, Mukingo, Murambi, Bugesera, and elsewhere in the country,” he said.
The remarks come in the wake of public outrage over hate speech targeting Congolese Tutsi, following comments made by Gen Maj Ekenge during a recent appearance on national television. While Congolese authorities announced his suspension shortly afterwards, critics argue that the action does little to address what they describe as entrenched tolerance of extremist rhetoric within state institutions.
Further inflaming tensions, President Félix Tshisekedi recently hosted two Congolese nationals from the United States on December 22 2025, under the banner of “Congolese Unity”.
One of them, Jean-Claude Mubenga, has previously described Tutsi as “cockroaches” and a virus that should be eliminated, remarks that drew sharp condemnation.
According to Nduhungirehe, symbolic measures such as temporary suspensions risk obscuring the broader issue of accountability, particularly when senior officials continue to use or tolerate language that fuels ethnic hatred.
The Rwandan government has consistently warned that failure to confront incitement and genocide ideology at leadership level risks further destabilising the eastern region of the DRC and undermines efforts toward lasting peace and regional stability.
This decision follows the government’s official announcement about integrating BDF into BRD, a strategic move aimed at enhancing service delivery, improving efficiency, and increasing access to finance for businesses across Rwanda.
The integration of BDF into BRD is expected to yield several benefits for Rwandan businesses. Entrepreneurs seeking loans through partner banks and microfinance institutions will experience faster turnaround times, with reduced delays in accessing credit guarantees. Additionally, the merger will provide a wider range of financing options tailored to the needs of startups, growing businesses, and large-scale investment projects.
From the end of the year, all former BDF clients will be served directly by BRD. These services will be available through BRD’s digital service platform at online.brd.rw.
By consolidating BDF services under one roof, BRD aims to streamline processes, improve coordination, and provide clearer, faster, and more efficient services to clients across the country. With improved accessibility through both digital channels and local presence, more entrepreneurs, especially those in rural areas, will benefit from development finance.
BDF has supported over 40,000 businesses through credit guarantees and other financing products, while BRD has played a pivotal role in funding national development priorities, including agriculture, manufacturing, infrastructure, and affordable housing.
The integration combines BDF’s grassroots reach and specialized support for Micro, Small, and Medium Enterprises (MSMEs) with BRD’s financial strength, sectoral expertise, and large-scale lending capacity.
As part of the government’s broader vision, this restructuring will allow BRD to become a more agile and impactful development finance institution, helping unlock the private sector’s potential as a key driver of economic transformation.
The newly restructured BRD will continue to offer all current BDF products, facilities, and support systems, now managed under BRD’s umbrella.
“The enemy is always at the door because the devil is still the king of the world. Things should be addressed the way they are. You know that we have a neighbor to the north of our country who has not been on good terms with us, and now they continue to pursue us, accusing us of being interference in a plan to conquer the neighboring Congo,” he said.
However, political analyst Tite Gatabazi believes Ndayishimiye uses this rhetoric to divert attention from internal issues.
“He faces numerous internal challenges, including governance issues, corruption, and the shortage of basic necessities including food and fuel. To maintain control over his population, he must create an external enemy. Since he cannot find one internally, he seeks one outside the country to shift the blame for his problems,” Gatabazi told IGIHE.
Gatabazi added: “In order to distract the population from these issues, he has to reinforce the idea that Rwanda is about to attack… ‘You are asking me for this and that, but do you realize we are about to be attacked?’”
Ndayishimiye further claimed that Burundi is always prepared for any conflict, asserting, “Burundi is not a country to be trifled with. Therefore, you must be cautious and work together with your leaders and the people. What we promise is that we are always prepared for that war. Let me inform you that all the citizens are alert. Whoever dares to attack Burundi will know how the war begins but will not know how it will end.”
However, Gatabazi believes that Ndayishimiye’s leadership is marred by corruption, where the military is divided along ethnic lines, training is based on nepotism, and officials embezzle funds, making it impossible for them to have the modern equipment necessary to win a war.
“Ndayishimiye is left with only words; he knows it, he doesn’t have the resources or the military strength. We have seen this in North Kivu and South Kivu, but he continues to rely on rhetoric. However, these words have political intentions. He is trying to show Burundians that he is their leader by saying, ‘Don’t worry, Rwanda will not defeat us’.”
Despite his boastful claims, Ndayishimiye’s actions show the challenges his government faces. Burundi’s military, over 20,000 strong, has been deployed in South Kivu, where they fought alongside FARDC and FDLR terrorist group but were ultimately defeated by M23 fighters in December 2025.
According to reports, DRC President Tshisekedi has voiced dissatisfaction with the performance of the Burundian forces, questioning their failure to achieve their objectives.
Gatabazi insists that Ndayishimiye’s rhetoric is a tactic to manipulate the population.
“He knows very well that Rwanda has no plans to attack him, and that is why he continues to boast. He uses this to manipulate his people, but you can see he is afraid.”
Ndayishimiye’s reliance on his relationship with the DRC complicates his position on Rwanda.
Gatabazi explained that President Ndayishimiye’s reliance on Kinshasa is so strong that he is not ready to soften his approach towards Rwanda.
“Ndayishimiye is using rhetoric to avoid taking practical actions. If he opens the borders, he would be betraying Tshisekedi, and we know the Belgians would not approve of that. He is trying to show that he is open to talks but is also looking for ways to delay the implementation of agreements from those talks, to give himself a reason to blame others,” he added.
Since January 2024, Burundi has closed its borders with Rwanda, accusing it of supporting the RED Tabara rebels.
Rwanda has repeatedly denied these claims, emphasizing that the refugees from Burundi, who fled in 2015, are civilians and can return freely.
At the same time, Rwanda has accused Burundi of working with FDLR, a terrorist group with intentions to threaten Rwanda’s security.
Gatabazi confirmed that even before the FDLR group was involved in smuggling precious minerals through the Bujumbura market, with many of its fighters running investments in the country.
