The newly inaugurated Rwanda Finance Board of Directors convened for the first time this week to discuss the establishment of the Kigali International Financial Centre.
The Board, led by Tidjane Thiam, Board Chair of Rwanda Finance, African Union Special Envoy on Covid-19 and Board Director of Kering Group, considered a range of issues, including the progress of Rwanda Finance in increasing competitiveness, compliance, and attracting tenants to the Kigali International Financial Centre, the Strategic Plan and the launch of KIFC.
This launch will coincide with the upcoming 26th Commonwealth Heads of Government Meeting (CHOGM) under the theme “Delivering a common future: connecting, innovating, transforming.”
Following this first Board of Directors meeting, the CEO of Rwanda Finance, Nick Barigye, stated “the establishment of the Kigali International Financial Centre has brought together Rwanda’s best talents in the world of finance and investment, talents that bring renewed energy, teamwork and commitment to Rwanda and beyond,”
“Our first Board meeting is testament to their collective expertise, and I am incredibly excited to lead this organisation. I look forward to working closely with the Board to bring transformative change to Rwanda”.
The Vice-Chair of the Board of Rwanda Finance, Diko Jacob Mukete, former Country Representative of the African Development Bank in Rwanda and governance and finance expert, reiterated these sentiments, noting: “Rwanda is a pace-setter and sets the example in terms of best practice. It has the “X-Factor” – visionary leadership, supportive government, and a bilingual, disciplined and hardworking workforce that makes it highly competitive.”
“The Kigali International Financial Centre is set to become a global investment hub that will serve investors in the continent and the rest of the world. KIFC promises to be a premier location for global capital flows and the embodiment of Rwandan exceptionalism.”
The Rwanda Finance Board of Directors is composed of seven high-level members who will bring their vast experience and insights to an institution that aims to turn Rwanda into a leading international financial centre:
Apart from Tidjane Thiam and Mukete, other board members include Liban Soleman Abdi, former Chief of Cabinet to the President of Gabon, and the Chairman of the Gabon National Investment Promotion Agency and Louise Kanyonga, Chief Strategy and Compliance Officer at the Rwanda Development Board (RDB).
The renowned Ivorian banker brings loads of experience to RFL. He was appointed the chair of the Board of Directors in November 2020.
Others include Alice Ntamitondero, CEO of Ultimate Developers Limited and previously Secretary-General at the Auditor General’s Office and Corporate services Division Manager of Rwanda Natural Resources Authority, Umulinga Karangwa, Chief Executive and Founder of Africa Nziza Investment Advisory, targeting institutional investors in Sub-Saharan Africa and Julien Kavaruganda, President of the Rwanda Bar Association and Board member of the East African Law Society, also member of the boards of the Bank of Kigali and Kigali International Arbitration Centre.
Kigali International Financial Centre is a new financial centre established to facilitate international investment and cross-border transactions in Africa. It will facilitate pan-African investment by providing an attractive destination for international investors with a legal and regulatory framework fully compliant with international best practices.
Rwanda Finance Limited is an agency created by the Government of Rwanda to promote and develop Rwanda as a leading destination for international investment and cross-border transactions in Africa. RFL works with key stakeholders to develop and promote the Kigali International Financial Centre through investment promotion, policy advocacy and sector upskilling.
It works to establish the regulatory framework for KIFC to become a leading international financial centre.
