On Wednesday, the 12th of November 2020; the Government of Rwanda during her cabinet meeting approved and appointed the board of directors for Rwanda Finance Limited.
The seven members of the board are; Diko Jacob Mukete who is a Cameroonian expert in governance, economic and financial reforms. The lawyer once served as Country Representative of African Development Bank in Rwanda.
Another member is Liban Soleman Abdi who is a Gabonese. He has vast and extensively in financial management, entrepreneurship and government advisory. And he has served as Chief of Cabinet to the President of Gabon, and Chairman, Gabon National Investment Promotion Agency.
Another member of the board is Louise Kanyonga who is a Harvard trained Rwandan lawyer. She is Rwanda Development Board’s Chief Strategy and Compliance Officer.
Another member of the newly appointed board is Alice Ntamitondero. She is a Rwandan and a professional accountant and member of the UK Association of Chartered Certified Accountant (ACCA); with over a decade’s experience in diverse public financial management positions and consultancy. She previously worked as Secretary-General at Rwanda’s Auditor General’s Office and was once the division manager of the corporate services department of Rwanda Natural Resources Authority.
Umulinga Karangwa is another member of the board. Umulinga Karangwa is a Chartered Financial Analyst and the Chief Executive and Founder of Africa Nziza Investment Advisory, an investment advisory firm targeting institutional investors on the African Continent.
Julien Kavaruganda who is a renowned city lawyer is the founder of K-Solutions and Partners (a private law firm.) He is the sitting President of the Rwanda Bar Association and Board member of the East African Law Society. He also sits on the boards of Bank of Kigali and Kigali International Arbitration Centre.
The Chairman of the board is Tidjane Thiam, the erstwhile CEO of Credit Suisse (the Swiss Bank) who is a revered authority in international banking and finance. The prominent Ivorian banker is to head the Board of Rwanda Finance Limited.
According to the organisation’s website; Rwanda Finance Limited (RFL) is a corporation owned by the government of Rwanda whose primary responsibility is to develop and promote what is known as Kigali International Financial Centre. Rwanda Finance Limited is a new company owned by the government of Rwanda, that was created to promote and develop Rwanda as a business and financial centre of excellence by fostering cross-border trade and investments. The website states that the company advocates for the highest regulatory standards and the most attractive products and services to suit the needs of global investors and financial institutions.
Some of Rwanda Finance Limited’s Investor Portfolio includes Nigeria’s CCHUB Innovation with offices in Nairobi (iHUB) and CCHUB Design Lab in Kigali. Coalition for Green Capital: a non-profit organisation focused on accelerating the growth of clean energy markets through the creation of Green Banks around the world. And there is Liedekerke Wolters Waelbroeck Kirkpatrick (one of Belgium’s top international law firms.)
Thiam was appointed along with six other members of the board of directors of the new body and their main objective amongst other goals would be to turn Rwanda into a financial hub.
The appointment of Tidjane Thiam (a precious jewel in international finance and banking) is seen by financial experts as a major move by the Government of Rwanda.