KIGALI - The School of Finance and Banking (SFB) is expected to get a new Rector after the government terminated its partnership with the William Davidson Institute (WDI), The New Times has learnt.

The WDI had been contracted to run SFB on behalf of the government for a period of five years from 2006 to 2011. Under the contract, the government would be required to pay US $ 600,000 annually to WDI.

Sources told The New Times that the decision to terminate the contract was communicated last week, with the Rector Krishna Govender, convening an abrupt meeting last Friday, at which he communicated the new development.

"The Rector was employed by WDI. Once the contract is terminated, the Rector goes with it. I have been given up to March 30, during which time I’m expected to hand over,” Govender reportedly told a meeting of the university council.

The source that attended the meeting told The New Times on condition of anonymity, that Govender explained that the Ministry of Education indicated that the government had terminated the contract with WDI due to budgetary constraints.

According to the source, the Vice Rector in charge of Academics Prof. Erasmas Kaijage, is supposed to take on as acting rector.

When contacted yesterday, Prof Govender declined to discuss the matter on phone. However, the Minister of Education, Dr Daphrose Gahakwa, confirmed the development.

"That is correct. It is too expensive. We cannot afford to pay them yet we had not got value for money,” she said.

Gahakwa however declined to divulge further details on the termination of the contract, saying they were ‘sensitive issues.’

The Minister explained that the government would advertise the post of Rector and a suitable person would be recruited on new terms.

In case Govender was still interested, he should apply and compete with other applicants, the minister said.

WDI has been paying Govender about US $ 14,000 per month, according to sources, and it would be somehow a hard decision for him to work under new terms.

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