Rwandan Bankers’ Association (RBA) on Saturday, December 9, marked the graduation of the fourth cohort of Rwanda Academy of Finance, equipped with skills to contribute to the development of the financial sector.

For six months, 113 staff from different banks in the country were trained in the Rwanda Academy of Finance (RAF), an initiative involved in training different staff levels in the financial sector to acquaint them with international competencies.

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The academy which started in 2020 in partnership with Belgian Bankers’ Academy and Luxembourg House of Training, currently offers two programs targeting bank employee level and middle management level.

Tony Francis Ntore, CEO of RBA, urged the graduates to embrace the responsibility with vigour, integrity and deep sense of purpose, stating that they embody the qualities of innovation and inclusivity which is highly needed for a resilient financial ecosystem.

"These graduates, equipped with knowledge, skills and boundless enthusiasm are the architect of the Rwanda financial landscape. They represent the promise of innovation, ethical leadership, and transformative change in a world that constantly evolving.”

He also commended the support of different partners including the National Bank of Rwanda, the University of Rwanda, RAF Steering Committee, trainers, among others.

Ben Lyon, Director of Banking and Finance, House of Training, acknowledged Rwanda’s efforts of taking in charge its educational future, noting that the impact of this program has never been more crucial in today’s dynamic world.

"Your commitment to learning and acquiring both knowledge and expertise is not only commendable, but essential for the future prosperity of Rwanda,” he said.

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In her remarks, Christine Baingana, CEO of Urwego Bank and Chair of RAF Steering Committee, said that it has been a rewarding journey of equipping skills and financial knowledge from 19 graduates in 2020 to now 113 in 2023.

She noted that with resuming physical classes, the success rate of students has increased and it is a testament that they will be able to navigate complexities of an ever-evolving financial landscape.

Prior to conferring the graduates with their certificates, Hannington Namara, Managing Director of Equity Bank Rwanda and Chairman of RBA, also commended the graduates for carrying through the training program while multitasking with work and personal responsibilities.

John Rwangombwa, Governor of the Central Bank and keynote speaker at the ceremony, commended the academy’s commitment to closing the skills gap in the financial sector.

"Through different initiatives and reforms, including capacity building, our industry has fortified itself, demonstrating resilience in the face of global challenges such as the Covid-19 and various geopolitical tensions.”

According to him, these challenges underscore the need for capacity building to evolve in harmony with ever changing environment, providing adaptability and foresight.

Rwangombwa encouraged the academy to expand its scope and including in its training modules critical skills needed to deal with emerging issues like cybersecurity and climate change, which are becoming essential for the sustainability of the banking sector.

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Graduates speak out

Deo Bakinga, Bank of Kigali staff and representative of both RAF1 and RAF2 Cohort, said this marks a significant milestone in a journey filled with growth, challenges, and moments of triumphs.

"In the world of banking, adaptability is very paramount. We have mastered key banking and legal frameworks, corporate governance concepts, trade and financial management theories, audit and controls, and many more,” he said.

Bakinga expressed confidence that the skills acquired have equipped them to thrive in an industry that demands constant evolution, and urged his peers to remember the important core values as they step into the banking realm.

Monica Cyamazima, Customer Service Officer, I&M Bank, said she is so happy and excited to put into practice what she learnt and contribute to the growth of financial sector in the country.

According to her, the training provided a community of knowledge sharing and fostering lasting friendships that will be vital to their growth in their respective careers.

He committed to continue supporting the program and extend it to more financial sector players, which will ultimately build the sector’s growth by providing equipped and capable leaders who will make quality contributions in the economy and finance world.