The Development Bank of Rwanda (BRD) is proud to announce that it has received an AAA long-term domestic credit rating with a stable outlook and an A1+ short-term credit rating from Global Credit Rating Co. (GCR). GCR is an international rating agency based in South Africa which boasts the largest team in Africa that provides critical insights into credit across a range of sectors. In 2024, Moody’s, one of the world’s leading credit rating agencies, fully acquired GCR, further enhancing its global influence.

GCR credit ratings range from "D” (lowest credit quality generally defaulting on obligations as a they come due) through to "AAA” (the highest credit quality relative to other issues or obligations in the same country).

The AAA long-term rating reflects BRD’s robust financial stability, strong support from its shareholders, sound management practices, and its pivotal role in advancing Rwanda’s socio-economic development. The stable outlook indicates confidence in BRD’s ability to maintain its strong financial health and operational resilience over the long term. This milestone achievement marks BRD as the first financial institution in the Rwandan market to attain such prestigious ratings.

The A1+ short-term rating is a testament to BRD’s strong liquidity position and its capacity to meet short-term financial obligations efficiently. This rating underscores the Bank’s commitment to upholding the highest standards of financial integrity and risk management.

Ms Kampeta Sayinzoga, CEO of BRD, commented on this significant achievement, stating, "Receiving an AAA rating with a stable outlook, along with an A1+ short-term rating, is a clear validation of BRD’s financial strength, and our unwavering dedication to Rwanda’s development agenda. As the first institution in the market to achieve these ratings, through the continued support of our shareholders, we are positioned to enhance investor confidence and continue driving impactful development projects across the country.”

This recognition by GCR also enhances BRD’s capacity to mobilize resources both domestically and internationally, further strengthening its role as one of the key players in Rwanda’s economic transformation. BRD joins the Development Bank of Nigeria as the only other Development Financial Institution on the continent to receive a AAA rating from the GCR.

The Development Bank of Rwanda remains committed to delivering on its mandate of fostering sustainable development through innovative financing solutions and strategic partnerships.

About BRD plc:

The Development Bank of Rwanda (BRD) is Rwanda’s foremost development finance institution, dedicated to supporting the country’s socio-economic development by providing long-term financing to key sectors of the economy. Established in 1967, BRD has been instrumental in financing projects that drive Rwanda’s growth, particularly in infrastructure, agriculture, affordable housing, and export sectors. BRD is committed to sustainable development and continues to innovate in providing financial solutions that support Rwanda’s Vision 2050.