The Board of Directors of the Development Bank of Rwanda (BRD) has told Taarifa that “change is imperative in any sphere,” in response to queries about its former CEO’s dismissal.
Despite Kanyankole’s unexpected departure, many in the corporate circles speak highly of him as a hardworking, intelligent, genuine and a man of integrity. He had had two years left to complete his second and last tenure.
Eric Rutabana replaces Kanyankole with “immediate effect.” He was CEO of Business Partners International Rwanda before his appointment as Head of Corporate and Investment banking at BPR.
The Chairman of Board of Directors, Francis Mugisha, in a press statement, said that the new appointment “is intended to cement the Bank’s achievements and accelerate the efforts to implement the Bank’s Strategic Plan 2016 – 2020.”
Francis Mugisha added that, “Eric Rutabana is an accomplished banker and understands the new mandate of BRD as a development financial institution. We are confident that he will successfully steer the bank to make even greater contribution to Rwanda’s socio-economic development.”
The Board, however, expressed gratitude for Kanyankole’s achievements. “On behalf of the Board and Management, I would like to thank Mr. Alex Kanyankole for his dedicated service in leading the bank since July 2013. We are privileged to have worked with him, and commend his able leadership during the development and implementation of the Bank’s new strategy. We wish him success in his new endeavors,” said Chairman Francis Mugisha.
A press statement issued by the bank praised Kanyankole “for his dedicated service, particularly leading the bank’s successful reorganization and restructuring to focus as a development finance institution.”