Rwanda: After a Spell of Executive Reshuffling, Banks Brace for Competition in 2018

The year 2017 appears to have been the climax to a series of top executive movements in Rwanda's banking sector and built a foundation for competition in an industry where it was hitherto, generally non-existent. The expectation is that this year will be an exciting one for customers, especially after the central bank in December lowered its key repo rate to 5.5 per cent from 6 per cent it had set in June 2017.

We can trace the start of these executive reshuffles from September 2015 when banking's journeyman Anand Sanjeev left I&M to join the Atlas Mara dream in Rwanda as BPR Chief Executive officer.

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