Kigali, 5 May 2017

President Kagame was today the Guest of Honour at Bank of Kigali’s celebration of 50 years anniversary which was held at the Kigali Convention Centre, bringing together the bank’s Board of Directors, clients and staff. Bank of Kigali also launched the first Platinum Visa credit card in East and central Africa.

In his address, President Kagame said Bank of Kigali’s story is the story of Rwanda’s entire financial.

“Surviving for fifty years, is not the real achievement, however. It is what the Bank of Kigali has become, in that time that we are here to celebrate. The Bank of Kigali has the country’s largest branch network, and it is one of Rwanda’s most iconic and recognisable brands. It was the first Rwandan bank to receive an international credit rating. It was also the first bank to list its shares on the Rwanda Stock Exchange. It is also emerging as a leader in financial technology innovation.

Congratulating the bank’s team, President Kagame pointed out that Bank of Kigali could not have reached where it was today without hard work, and prudential management.

“The importance of a dynamic and competitive banking sector for Rwanda’s development, cannot be emphasised enough. Investment requires confidence in stable and reliable financial institutions, which are able to supply adequate capital, at affordable rates. Government is working to do its part, to create a level playing field through sound regulation, and an attractive business climate. But those efforts only produce the results our people need, as the private sector actors step up, to take full advantage.”

President Kagame said that banks help entrench the culture of saving and investing in society, which he said draws more capital into the formal financial sector.

“But much more importantly, the habit of saving serves to make us more future-minded, more optimistic, and better at planning ahead. We need much more of this mindset in Rwanda, and our banks have a big role to play. We recognise, of course, that there are challenges. Capitalisation in the banking sector remains too low, compared to other markets, limiting our ability to finance major projects, as a nation.”

President Kagame said that the private sector needs to work together with government, to make credit products more plentiful and affordable.

In conclusion, President Kagame said that Bank of Kigali should be projected as the bank of the people and the future.