Last week, Rwanda witnessed a notable reshuffle in leadership across several major sectors, including finance, mining, academia, and governance.
These new appointments bring together a blend of experienced professionals and dynamic leaders.
Here are five key executive changes that highlight this ongoing transformation in Rwanda’s corporate sectors.
1. Nick Barigye appointed Group CEO of Crystal Ventures
Nick Barigye has been appointed the new Group Chief Executive Officer of Crystal Ventures Ltd (CVL), succeeding Jack Kayonga, who had led the investment holding company since 2022.
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Barigye brings over 15 years of experience in finance and investments across Africa.
Prior to this appointment, he served as the CEO of Rwanda Finance Limited, where he led efforts to develop the Kigali International Financial Centre (KIFC), an initiative aimed at positioning Kigali as a regional financial hub that attracts foreign investment and fosters the creation of highly skilled jobs.
His previous roles also include Managing Partner at Karisimbi Business Partners, an Africa-focused investment and advisory firm.
Notably, from 2008 to 2014, Barigye was a senior executive at Crystal Ventures.
He holds an MBA in Strategic Management from Strathmore Business School in Kenya and a Bachelor’s degree in Finance from the National University of Rwanda.
Barigye is also the Non-Executive Director of Green Hills Academy.
2. Hortense Mudenge takes over at Rwanda Finance
Hortense Mudenge was appointed the new Chief Executive Officer (CEO) of the Rwanda Finance Limited, the company behind the Kigali International Financial Centre (KIFC), following a Cabinet decision made on July 16.
She takes over from Nick Barigye.
Before this appointment, Mudenge served as the Chief Strategy Officer at KIFC, where she played a central role in shaping the institution’s efforts to position Rwanda as a competitive financial hub for international investment and cross-border transactions.
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With over 10 years of experience in management consulting, she has worked with international development agencies and private-sector clients on business and market development strategies.
Her previous roles include consultancy positions with Dexis Consulting Group and the Global Alliance for Improved Nutrition, focusing on donor-funded investment programmes and grant facilities.
Mudenge holds an MBA from Hult International Business School in the United States and is a graduate of United States International University-Africa.
3. Yusuf Ayokunle, new Managing Director of GTBank Rwanda
Yusuf Ayokunle was appointed the new Managing Director of Guaranty Trust Bank Rwanda Plc, bringing over 15 years of experience in banking operations, financial strategy, and business process optimisation across Nigeria, Ghana, and Rwanda.
Before this role, Ayokunle served as Chief Operating Officer at GTBank Ghana Ltd. from 2021 to 2025, where he led major operational and digital transformation initiatives that improved the bank’s efficiency and service delivery.
He began his career with GTBank Nigeria and holds professional qualifications as a Chartered Accountant (ACCA) and Chartered Stockbroker (ACS).
He also holds an MBA from Warwick Business School (UK) and has completed executive education programmes at Harvard, Stanford, MIT Sloan, and CEIBS.
4. Philibert Afrika appointed to AIMS International Governing Board
Last week also saw the appointment of Philibert Afrika to the International Governing Board (IGB) of the African Institute for Mathematical Sciences (AIMS), joining prominent leaders such as Charles Boamah, Prof. Thuli Madonsela, and Serena Lefort.
Afrika is a seasoned development economist with over 30 years of high-level experience at the African Development Bank (AfDB), where he held senior positions including Secretary General, Director of Policy and Resource Mobilization, and Director of NEPAD and Regional Integration.
Since retiring from the AfDB in 2009, he has remained actively engaged in Rwanda’s development. He is currently the Chairman and co-founder of the University of Kigali and leads its Centre for Economic Governance and Leadership.
Afrika also brings strong boardroom expertise from previous roles with institutions such as Cogebanque Rwanda, Access Bank Rwanda, and the West African Development Bank (BOAD).
5. Alice Uwase will lead Rwanda Mines, Petroleum and Gas Board
In other developments, Alice Uwase was appointed as the new Chief Executive Officer (CEO) of the Rwanda Mines, Petroleum and Gas Board (RMB), effective July 18.
She succeeds Francis Kamanzi, who was named Director General of the Rwanda Cooperative Agency on July 17.
Uwase brings a wealth of experience in Rwanda’s extractive industry, having served as Deputy CEO of RMB since June 2024. In that role, she was instrumental in overseeing key institutional priorities, including sector policy execution, licensing, and exploration initiatives.
Before becoming Deputy CEO, Uwase headed RMB’s Mining, Petroleum, and Gas Exploration Department, where she led major exploration programmes and played a key role in strengthening the governance of natural resource management.
Prior to joining RMB, she was the Project Manager of Gold Mining and Trading at Ngali Mining, a subsidiary of Ngali Holdings, which is a Rwandan company investing in a wide range of industries across the continent of Africa.