A cabinet meeting held on Tuesday, February 27, appointed Francis Kamanzi as the new Chief Executive Officer (CEO) of Rwanda Mines, Petroleum and Gas Board (RMB).
Kamanzi, 51, replaces Yamina Karitanyi who has been at the helm of the institution since September 2021.
The Rwanda Mining Board is a public entity, which is, among other responsibilities, in charge of the development of the mining sector including mineral exports.
In 2023, Rwanda's mineral export revenues increased by 43 per cent to more than $1.1 billion (approx. Rwf1.4 trillion), up from the $772 million they generated in 2022, according to data from RMB.
Based on this performance and comparing it with other sectors fetching foreign revenues for the country, mainly agriculture sector and tourism sector, minerals were the top export earner.
The country targets to generate $1.5 billion in annual mineral export revenues in 2024.
About the new RMB CEO
By the time of his new appointment, Francis Kamanzi was a Business Development Partner with Eco-Secure Holdings, since January 2022, where he was handling business deals operations and activities.
According to the biography he shared with The New Times, Kamanzi is an accomplished Business Development Partner at EcoSecure Holdings Ltd, with over 15 years of experience in the financial sector, who consistently ensures the long-term viability of infrastructure projects portfolio.
The new RMB CEO is a person who influences and persuades top ranking officials, whose opinion is highly sought after; and whose judgment is respected and trusted, it indicated.
He received his Bachelor of Science in Economics from University of Rwanda in 1999.
It was there that he developed his passion for investment analysis, with a focus on market risks, sustainable development, planned investment, and autonomous investment.
After joining National Bank of Rwanda in June 2000, he rose through the ranks starting from the position of a market analyst and statistics officer, to Head of Foreign Exchange Market, Manager of Treasury operations, and finally to the Manager of Banking Operations for 12 years.
He then left for further studies where he joined Harvard University’s Kennedy School of Government for Public Administration and Policy.
At Qnet East Africa as General Manager, Kamanzi built a reputation for developing business strategies, incubating new business models, and business expansion in the region. He also developed and managed a profitable business model for high-end enterprise service projects at 3MK Consult – a consulting firm.
Qnet is a wellness and lifestyle company that uses a direct selling business model powered by e-commerce with a view to foster entrepreneurship, self-reliance, and personal development.
Kamanzi holds a Public Administration and Policy MA; Economic Policy Management MA; and a Bachelor’s degree in Economics.
During his recent years with EcoSecure Holdings, Kamanzi has fed himself an insatiable interest in energy finance, developing energy business models ranging from Energy generation, to distribution in renewables.
EcoSecure Holdings describes itself as a private company dedicated to sustainable development in Rwanda, Congo, Cameroon and Nigeria – with over 10 years of combined experience in energy, ICT, and agriculture industries. Its offices are located in the United States and Kigali, Rwanda.
Educational background
In May 2012, Kamanzi obtained a Master’s degree in Public Administration at Harvard University, John F. Kennedy School of Government, in the USA, majoring in development economics, performance leadership, and statistics for policy making.
Earlier, in August 2010, he received a Master’s degree in Economic Policy Management, majoring in macroeconomics, entrepreneurship and innovation, and strategic management, from Makerere University, in Uganda.
Before joining Makerere University, he obtained a Bachelor of Science in Economics from the University of Rwanda, where he majored in macroeconomics and international trade.