In a bid to increase solar home system installations and electrification of households in rural areas of Rwanda, the Renewable Energy Fund Project of the Development Bank of Rwanda has launched two new initiatives; the Subsidy Window and the Guarantee Framework. CNBC Africa spoke with Denis Rugamba, Project Manager of BRD Renewable Energy Fund Project for more.
Fitch Ratings has for the first time rated Development Bank of Rwanda at B+, reflecting the bank’s stable outlook. The rating also demonstrates BRD’s ability to raise external financing in case of need. Vincent Ngirikiringo, the bank's Chief Finance Officer joined CNBC Africa and shared an update on the 3 year $24.42 million recapitalisation plan by the government.
In 2016, the government and the Development Bank of Rwanda (DBR) signed an agreement to start managing education loan funds as well as conduct recovery process. According to Eric Rutabana, CEO of BRD, the bank has set a target to recover about Rwf22.9 billion before the end of 2023 from now and to recover loans worth about Rwf30 billion by 2025. Claudine Matata, Head of Recovery Unit in the Education Financing Department at Development Bank of Rwanda joins CNBC Africa for more.