BRD gets new chief executive

Development bank of Rwanda (BRD) has a new chief executive officer. Alex Kanyankole replaces Jack Kayonga, who has been at the helm since 2009. Kanyankore has been the director general of the National Agricultural Export Development Board and was appointed last week by the bank’s board. His appointment took immediate effect.The board credited Kayonga for turning around BRD’s fortunes during his tenure in office, saying he had made the bank profitable and one of the best-managed finance institutions in Africa.“During his tenure, the bank was named the third best managed development bank in Africa out of 73 national development banks and 12 regional banks assessed by peers under the Association of African Development Finance Institutions (AADFI),” BRD said in a statement.The AADFI also upgraded BRD’s rating to A+ which is the second-highest rating any financial institution can attain after demonstrating a high degree of international best practices such as good governance, financial and operational standards.“Kanyankole brings a wealth of experience having also worked as the director general of OCIR-CAFÉ and OCIRTHE,” the board noted in the statement.

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BRD gets new chief executive