The Development Bank of Rwanda (BRD) has appointed Ms. Stella Rusine Ntez as its new Chief Executive Officer, subject to regulatory approval, marking a leadership transition that blends continuity with renewed stewardship at the country’s development finance institution.
Ms. Ntez, a long-serving member of BRD’s Board of Directors, steps into the role with deep institutional knowledge and extensive experience in macroeconomic and fiscal policy.
Her appointment signals the Board’s confidence in internal leadership at a time when development finance institutions are under increasing pressure to deliver both financial sustainability and measurable national impact.
She joins the executive role from Rwanda’s Ministry of Finance and Economic Planning, where she most recently served as Chief Economist, having previously led the Macroeconomic Policy Directorate and worked within the Debt Management Directorate.
Her background spans years of work in economic policy, external sector analysis, and public finance management.
Ms. Ntez holds a Master of Science in Economics from the National University of Rwanda.
The Board described her appointment as a strategic choice that brings together policy depth, institutional memory, and continuity, positioning BRD to consolidate recent gains while navigating a more complex development financing environment.
A foundation shaped by transformation
Ms. Ntez takes over at the close of a six-year tenure by Ms. Kampeta Pitchette Sayinzoga, a period that fundamentally reshaped BRD’s financial strength and development footprint.
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Under Ms. Sayinzoga’s leadership, BRD underwent a major balance-sheet transformation. The bank’s total assets expanded more than sixfold, rising from FRW 157 billion to FRW 1.02 trillion, reflecting a deliberate strategy to scale the institution’s capacity and credibility.
Profitability was restored during this period, with the bank posting a net profit of FRW 22.8 billion, marking a decisive turnaround after years of restructuring and portfolio realignment.
BRD’s loan portfolio also expanded significantly, growing from FRW 167 billion to FRW 710 billion, enabling the bank to extend long-term financing across critical sectors including energy access, export-oriented manufacturing, education financing, and sustainable finance.
Beyond balance-sheet growth, BRD strengthened its role as a catalyst for development finance.
The bank achieved a four-times leverage effect, with every FRW 1 invested by government mobilising an additional FRW 3 in financing, amplifying the impact of public investment and crowding in additional capital.
The Board said these outcomes reflect a period of strengthened financial resilience, improved institutional credibility, and expanded national impact under Ms. Sayinzoga’s stewardship.
In announcing the leadership transition, the Board of Directors framed the change as both an ending and a beginning — the close of a transformational chapter and the start of a new phase focused on consolidation, scale, and impact.
The Board extended its appreciation to Ms. Sayinzoga for her service and expressed confidence that the foundation laid over the past six years positions BRD strongly for its next chapter.
