Stella Rusine Nteziryayo has been appointed as the new Chief Executive Officer of the Development Bank of Rwanda (BRD), marking a new chapter for the institution as it advances its mission of supporting Rwanda’s socio-economic transformation.
She succeeds Kampeta Pitchette Sayinzoga, whose six-year tenure was marked by significant institutional growth, stronger financial performance, and an expanded role for BRD in mobilising both domestic and international capital in support of national development priorities.
Under Sayinzoga’s leadership, BRD’s total assets grew from Frw 157 billion to over Frw 1.02 trillion, while its loan portfolio expanded from Frw 167 billion to Frw 710 billion. The bank also reversed losses to record an annual profit of Frw 22.8 billion, demonstrating improved financial sustainability. Notably, BRD achieved a fourfold leverage effect, mobilising three additional francs from external sources for every franc invested by the government.
During this period, BRD-financed projects delivered tangible national impact, including connecting more than 500,000 households to electricity, increasing export volumes from 80 metric tonnes to 8,566 metric tonnes, and issuing Rwanda’s first sustainability-linked bond, which raised Frw 63.5 billion for impact-focused investments. In education, the digitalisation of the government student bursary scheme improved efficiency and expanded post-graduation bursary reimbursements.
Nteziryayo, who previously served on BRD’s Board of Directors, brings over a decade of experience in macroeconomic policy, fiscal strategy, debt management, and sustainable finance. She is a former Chief Economist at the Ministry of Finance and Economic Planning, where she played a key role in shaping Rwanda’s medium-term economic framework, coordinating sovereign financing, and strengthening fiscal sustainability.
Her appointment is expected to ensure continuity while providing strong strategic leadership as BRD enters its next phase of growth, with continued focus on infrastructure, manufacturing, energy, affordable housing, green finance, and export development.
Established in 1967, BRD remains a cornerstone of Rwanda’s development finance ecosystem, providing long-term, tailored financing aligned with Vision 2050 and the National Strategy for Transformation.
