BPR Bank Rwanda has launched the inaugural edition of BPR Power Talks, a quarterly thought leadership platform designed to bring together industry leaders, policymakers, customers, and experts to discuss opportunities, challenges, and solutions shaping key sectors of Rwanda's economy. The first edition, held on June 5 at the Kigali Convention Centre, focused on the Oil and Gas sector, bringing together fuel importers, energy developers, regulators, and financial experts to explore strategies for strengthening energy security, enhancing sector resilience, and supporting sustainable growth. Speaking at the event, Vincent Ngirikiringo, Chief Finance Officer at BPR Bank Rwanda, noted that the Oil and Gas sector was selected as the starting point for the Power Talks series because of its critical role in powering transportation, industry, and economic activity across the country. The sector remains a key pillar of economic growth, and as a bank, we believe it is important to engage directly with industry players to better understand their challenges and identify practical solutions that can support their continued growth and resilience, he said. Discussions explored the impact of global market dynamics on the sector, including rising fuel costs, supply chain disruptions, and increasing working capital requirements for fuel importers. Participants also examined opportunities to strengthen fuel supply chains and improve long-term energy security. Ngirikiringo highlighted BPR Bank's commitment to supporting the sector through tailored trade finance solutions, including instruments such as letters of credit, which can help businesses manage cash flow requirements while ensuring continuity of supply. He also noted that the bank is exploring opportunities to support investments in fuel storage infrastructure and other strategic initiatives that can enhance supply resilience and operational efficiency across the value chain. Xavier Mugisha Shema, Executive Director for Commercial Businesses at BPR Bank Rwanda, emphasized that the bank's approach goes beyond financing transactions. Our role is to support businesses with structured solutions that facilitate trade and connect key stakeholders across the value chain. By bringing together financial institutions, insurers, logistics providers, collateral managers, and technology partners, we can contribute to greater efficiency, transparency, and sustainable growth within the sector, he said. Shema added that the Power Talks platform reflects BPR Bank's commitment to fostering meaningful dialogue with customers and industry stakeholders while developing solutions that respond to the evolving needs of different sectors. The forum also featured insights on Rwanda's evolving energy landscape and the importance of diversifying energy sources. Klaus Schick, CNG Project Development Director at Gasmeth, shared progress on the company's compressed natural gas project on Lake Kivu, which is expected to provide an alternative source of energy for transport, cooking, and power generation. Industry participants highlighted the importance of expanding storage capacity, strengthening supply chain resilience, and increasing access to financing solutions that can help businesses navigate periods of market volatility. Representing petroleum products importers, Eric Mutaganda, Chairperson of ASSIMPER, noted that fluctuations in global fuel prices continue to increase capital requirements for importers and underscored the need for collaborative solutions that support sustainable sector growth. The event also featured economic insights from Thierry Kalisa, Chief Economist at the National Bank of Rwanda, who provided an overview of the global economic environment and its implications for inflation, fuel prices, and economic growth. The launch of BPR Power Talks marks the beginning of a broader engagement platform that will continue to spotlight different sectors of the economy. Through these conversations, BPR Bank aims to deepen customer engagement, facilitate knowledge sharing, and co-create solutions that contribute to Rwanda's long-term economic development. As a trusted financial partner, BPR Bank remains committed to supporting businesses across sectors through innovative financial solutions, strategic partnerships, and platforms that foster collaboration and sustainable growth. Inflation rose to 13 per cent in April, prompting the central bank to raise its policy rate by 100 basis points to 8.25 per cent. But inflation is much higher than expected, and we need to tackle this issue because if inflation stays high for long, at the end of the day, it affects everyone, Kalisa said. The central bank expects inflation to average 13.9 per cent this year before easing to 7.4 per cent in 2027, assuming supply chains improve and agricultural production remains strong. Domestic energy alternatives in focus Beyond financing, participants also examined long-term solutions aimed at reducing Rwanda's dependence on imported fuels. Klaus Schick, the CNG Project Development Director at Gasmeth, outlined progress on the company's compressed natural gas project on Lake Kivu, which is expected to provide an alternative source of energy for transport, cooking and power generation. The project, being developed under a 25-year concession, is about 50 per cent through detailed engineering, with major equipment already ordered and under manufacturing. We are planning to finalise the project in the first quarter of 2028, Schick said. He noted that compressed natural gas could replace fuelwood, charcoal, diesel and petrol in several applications while also helping stabilise gas concentrations in Lake Kivu.
