African Union launches s 

Friday, November 29, 2013 

Rwanda bank gets high rating

 KIGALI, Rwanda-- During the recently concluded annual Forum for Chief Executive Officers in the Association of African Development Banking and Finance Institutions (AADFI), the Development Bank of Rwanda (BRD) was ranked seventh.
This was recognition for its regular support to growth of small and medium enterprises (SMEs). The forum took place in Nairobi.
The top five rated institutions included, African Export and Import Bank (Egypt), East African Development Bank, credit Agricole du Maroc (Morocco), Odu’a Investment Company (Nigeria) and, Banque Nationale pour le Developpement Economique (Senegal).
Receiving the award, Emmanuel Murangayisa, the BRD Director of Finance, promised they will continue supporting growth in Rwanda.
BRD is partly owned by the Rwanda government.
Murangayisa said, “Because of the great performance of this bank, our net worth has been able to go higher in the past eight years.”
“BRD incurred losses between 1985 and 1994, but later picked up and now we only see great achievements,” Murangayisa said.
 He said that BRD gives out loans to different sectors in the country and this contributes to its growth.
The regional Director of African Development Bank Gabriel Negatu called on financial institutions in Africa to continue supporting business.

By Agnes Bateta, Friday, November 29th, 2013