I&M Bank Rwanda has appointed Nikhil Rustam Hira as the new Board Chairman, replacing Bonaventure Niyibizi who is retired from service.

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With 42 years of leadership experience, Hira took over the position on July 15, after serving on the board as an Independent Director and Chairperson of the Board Audit Committee, as well as a member of both the Board Credit Committee and the Board Strategy Committee, since 2019.

According to the Bank’s management, he brings rich expertise as the Bank navigates the evolving financial landscape by providing innovative banking solutions and enhanced customer experiences.

Benjamin Mutimura, CEO of I&M Bank Rwanda, welcomed Hira stating: "His visionary leadership and deep understanding of the industry will be invaluable as we continue to drive our strategic initiatives and enhance value for our stakeholders. We are confident that under his guidance, I&M Bank Rwanda will reach new heights of success."

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Hira said: "I am honoured to take on the role of Chairman at such a pivotal time for I&M Bank Rwanda. I look forward to working closely with the board, the management team, stakeholders, and our talented employees to continue delivering exceptional value to our customers and shareholders. Together, we will build on the bank’s strong foundation and drive future success."

As an experienced financial professional, he currently serves as the Regional Representative of the Eastern Africa Association and a partner at Kody Africa LLP.

He is a former partner at Deloitte East Africa, where he headed the Tax Practice for Deloitte in the East Africa region. He is also a Non-Executive Director on the board of I&M Bank Kenya, Board Chairman of GA Insurance Ltd in Kenya, and a board member of two private companies namely Securex Agencies Ltd and Shalimar Fresh Ltd in Kenya.

He holds a BSc Joint Honours in Accountancy and Process Engineering from the University of Salford, England and is a fellow of the Institute of Chartered Accountants of England and Wales, as well as of the Institute of Certified Public Accountants of Kenya, and registered with similar institutes in Uganda and Tanzania.

In June, the lender celebrated its golden jubilee marking 50 years of financial sector positioning in the region, driving innovation, and contributing to countries’ economic growth.

For its head office green building, it was awarded the prestigious EDGE Advanced Certification by the International Finance Corporation (IFC), a member of the World Bank Group.