Former BRD boss arrested

Kanyankole is accused of favoritism and corruption.

On their twitter account, RIB wrote: “Former CEO BRD bank Kanyankole Alex has been arrested over suspicion of favoritism and receiving illegal benefits in order to offer a service committed when he was still in office.”

Modeste MBABAZI, the Spokesperson for RIB told IGIHE that Kanyankole was arrested Monday October 2nd.

He also confirmed that since he resigned as BRD CEO, Kanyankole would appear to the prosecution for the crimes he is suspected of.

The new corruption law states that whoever in charge of providing services and makes a decision based on favoritism, friendship, hatred, family relationship or acquaintance for those who want services from them has committed a crime.
When they are proven guilty by court, they are punished with more than five but not beyond seven years of imprisonment, as well as with fines not less than Rwf1 million but not more than Rwf2 million.

Kanyankole resigned as BRD CEO in December 2017 after four years in office.
The bank was split into two entities with the formation of the new BRD Commercial Bank, later taken over by Atlas Mara) , one of its commercial entities (BRD Commercial Bank) was acquired by Atlas Mara, and was merged to Banque Populaire du Rwanda.

Alex spearheaded reforms at the bank coming up with a new strategy (2016-2020) that address the role of the bank in contributing towards the socio-economic development of the country, by introducing a revitalised business model that introduced financing of key economic sectors such as energy, agriculture, and housing among others.

It is also at this time that the government entrusted the bank with the responsibility to give and pursue loans that are given to public University, what some refer to as bursary stipends.

Prior to joining BRD, Alex served as the Director General of National Agricultural Export Board NAEB (2011- 2013), an organisation that we merged under leadership, and prior to that position, he was the Director General of the National Coffee Board, OCIR-CAFE (2008 -2011) and the National Tea Board (OCIR_THE 2005-2008) respectively.

The bank was incorporated on August 5 1967. Now, Rwanda Development Bank is a public Company Limited by Shares, with a share capital of Rwf7.8 billion.