The Development Bank of Rwanda (BRD) has named Stella Rusine Nteziryayo as its new Chief Executive Officer, subject to regulatory approval, ushering in a new phase of leadership at the state-owned development finance institution. She takes over from Kampeta Pitchette Sayinzoga, whose six-year tenure recently concluded after a period widely regarded as transformative for the bank. Various reports and financial statements published over the past several years indicate that BRD underwent substantial institutional growth during this period. The lender significantly expanded its balance sheet, strengthened its financial position and scaled up long-term financing to key sectors of the economy, consolidating its role as a central pillar of Rwanda’s development financing architecture. The bank saw its total assets growing from Frw157 billion in 2019 to over Frw1.02 trillion by 2025, while the lender moved from a loss-making position to a net profit of Frw22.8 billion. Over the same period, the loan book expanded from Frw167 billion to Frw710 billion, reflecting increased capacity to finance priority sectors. Available financial disclosures show that the bank transitioned from a challenging financial position to sustained profitability, alongside a sharp expansion in its loan portfolio. The same reports suggest that BRD improved its ability to mobilise external financing, amplifying public investment through partnerships with international development financiers. This includes the recent Rwf36bn loan secured from the Arab Bank for Economic Development in Africa (BADEA) to support Small and Medium-sized Enterprises (SMEs) in line with NST2, Vision 2050. Over the years, BRD increased its footprint across priority sectors such as energy, manufacturing, exports and education. Publicly available programme data point to large-scale interventions in electricity access, job creation in export-oriented industries, innovative capital market instruments, and the digitisation of government-backed student financing schemes. The bank has connected more than 510,000 households to electricity under the ‘Cana Uhendukiwe programme’, supporting over 300,000 jobs in export-oriented sectors, issuing the world’s first sustainability-linked bond by a national development bank, and digitising the government’s student bursary scheme. Nteziryayo, who has been serving on BRD’s board, brings extensive experience in macroeconomic policy, fiscal strategy, debt management and climate finance. She previously served as Chief Economist at the Ministry of Finance and Economic Planning, where she was involved in shaping Rwanda’s medium-term economic framework and sovereign financing approach. Her appointment comes as BRD positions itself to deepen its role in financing strategic sectors seen as critical to Rwanda’s long-term economic transformation.
