Maurice Toroitich has returned to Rwanda’s banking sector with the appointment as NCBA Bank Rwanda MD. File Photo.
He is no stranger to Rwanda’s banking sector, with14 years of experience serving at the helm of some of the leading banks in the country, and now Maurice Toroitich has returned to the banking fold after a two year hiatus, following his appointment as NCBA Bank Rwanda Managing Director.
The bank announced the appointment on Monday, in a move which it said underscores its ambition to deepen its foothold in Rwanda’s financial sector, tapping into Toroitich’s vast knowledge and understanding of the Rwandan market, to scale its presence.
The appointment brings to the helm a veteran of the banking industry, whose leadership spans nearly three decades of transformative banking and leadership in East Africa.
Toroitich is recognized for his pioneering work as the founding CEO of KCB Bank Rwanda, where he was instrumental in shaping the bank’s market presence and operational foundation. His tenure as Managing Director of BPR Bank Rwanda further cemented his reputation, having successfully overseen its evolution into one of the country’s leading financial institutions. He has also previously served as Chair of the Rwanda Bankers Association.
In April 2022, Toroitich’s mandate at BPR Bank Rwanda came to an end, handing over helms to Patience Mutesi, returning to his homeland to work as a banking consultant, executive coach and mentor, through his organisation MT Leadership Journeys EA Ltd, until his latest appointment.
“Toroitich’s track record speaks volumes. He joins us at a time when we are deepening our efforts in corporate banking and expanding our retail footprint. With his leadership, we look forward to accelerating the bank’s growth trajectory and delivering enhanced value to our customers and shareholders,” Dr. Benjamin Rugangazi, Chairman of NCBA Bank Rwanda’s Board of Directors, said.
His expertise as a Certified Public Accountant and Associate of the Chartered Institute of Bankers is complemented by his academic credentials, putting him among the crème de la crème of the banking sector in East Africa.
Toroitich (2nd right) poses for a photo with NCBA Bank Rwanda board members.
He holds an MBA from Strathmore University and a Bachelor of Commerce from the University of Nairobi. As a certified Executive Coach, Toroitich is passionate about empowering teams and fostering a culture of excellence.
Observers say his leadership is rooted in transformative strategies and a commitment to robust governance, which NCBA Bank Rwanda will tap into, in its mission to drive financial inclusion and innovation in Rwanda and the region.
Following his appointment, Toroitich said he is looking to build on the work of his predecessors to drive the vision of the bank which first opened its doors in Rwanda in May 2017.
“I am excited to build on the great work my predecessors have done and on the bank’s strong foundation as we steer NCBA Rwanda into the next phase of growth. I look forward to working closely with the team at NCBA and the wider financial sector in Rwanda to deliver sustainable value for all stakeholders and the country at large.”
In a statement, NCBA Bank said it eyes redefining its role in the market, fostering resilience and innovation in an increasingly competitive financial landscape, with the appointment of Toroitich, who understands Rwanda’s banking landscape.
NCBA Bank Rwanda is a subsidiary of NCBA Group, a full-service banking group providing a broad range of financial products and services to corporate, institutional, SME, and consumer banking customers. NCBA Group operates a network of 115 branches in five countries, including Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast.
Serving over 60 million customers, it is the largest banking group in Africa by customer numbers. NCBA Bank Rwanda is currently present in Kigali with four branches as well as branches in Musanze, Nyagatare, and Kayonza districts. The bank is expected to open new branches in Rubavu and Rusizi districts soon.
Through the partnership with MTN Mobile Money Rwanda Ltd on “MoKash,” a mobile savings and loan product, the bank has attracted over 4.7 million customers and disbursed over 13 million loans worth Rwf 386 billion. MoKash, a mobile-based loan services, is subscribed to by more than 2 million women and 2.5 million youth.
