Zigama gets new boss

Defence Minister Albert Murasira (left) hands over to Maj Gen Emmanuel Bayingana as Chief Executive Officer of Zigama Credit and Savings Society. Centre is James Ndahiro, the armed forces’ bank’s board chairman, Bayingana replaces Murasira, who has been at the helm of the financial institution since 2012. Courtesy.

Major General Emmanuel Bayingana has been appointed the new Chief Executive Officer of Zigama Credit and Savings Society (CSS).

Bayingana has replaced Albert Murasira, who was last week appointed the Minister for Defence.

Bayingana has been the Vice Chairman of the National Itorero Commission.

Murasira has headed Zigama since 2012, presiding over years of sustained growth.

Last year, Zigama posted a net profit of Rwf9.4 billion, surpassing its target of Rwf6.3 billion.

By the end of December 2017, the bank had issued over Rwf145 billion in loans to 140,000 members. At least Rwf84 billion was issued in loans in 2017 alone.

This year, the bank targets a profit of Rwf8 billion, an amount Muramira and other officials believe can even be surpassed.

Zigama CSS has over 80,000 members. The members are from Rwanda Defence Forces, Rwanda National Police, and Rwanda Correctional Service.

Bayingana took over from Murasira in the official handover at the Ministry of Defence headquarters yesterday.

Maj Gen Bayingana has served in the military for 28 years. After the liberation struggle, he became a judge in the Military High Court.

He has also worked as the Director of Planning at the Rwanda Defence Forces Headquarters.

He also had a stint with Rwanda National Police where he headed Criminal Investigations Department.

Maj Gen Bayingana has also previously served as Chief of Staff for the Ceasefire Commission in the UNAMID, the United Nations Mission in Sudan where Rwanda maintains peacekeepers.