The newly inaugurated Rwanda Finance Board of Directors convened for the first time last week to discuss the establishment of the Kigali International Financial Centre (KIFC).

The Board, chaired by Tidjane Thiam, a globally renowned banker, considered a wide 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.

A native of Cote d’Ivoire, Thiam is also the African Union Special Envoy on Covid-19 and Board Director of Kering Group.

The launch of KIFC 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, Nick Barigye the Chief Executive of Rwanda Finance Limited, said; "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.

Other members of the board include Liban Soleman Abdi, former Chief of Cabinet to the President of Gabon, and Chairman of the Gabon National Investment Promotion Agency; Louise Kanyonga, Chief Strategy and Compliance Officer at the Rwanda Development Board.

The board also includes Alice Ntamitondero, previously Secretary-General at the Auditor General’s Office; 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.