About Ecobank Rwanda and Its Role in Rwanda's Economy

Ecobank Rwanda is a leading financial institution in Rwanda, playing a significant role in the country's economy. With a strong presence in the market, Ecobank Rwanda has established itself as a trusted partner for individuals, businesses, and organizations seeking financial services.

Ecobank Rwanda offers a wide range of financial products and services, including personal banking, corporate banking, and investment banking. This diversity of services enables the bank to cater to the varied needs of its customers.

The bank's commitment to innovation and technology has enabled it to provide convenient and secure banking services to its customers.

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Ecobank Rwanda was a medium-sized financial institution as of December 2016.

The bank had a significant asset base of RWF:193.527 billion, which is roughly equivalent to US$227.5 million at the time.

Ecobank Rwanda had a strong financial foundation, with shareholders' equity of RWF:17.835 billion, or approximately US$21 million.

Ecobank Rwanda's headquarters and main branch are situated along KN3 Avenue in the heart of Kigali's central business district.

The bank's main location is in the city of Kigali, which is also the capital and largest urban centre of Rwanda.

Kigali is a bustling city with a lot to offer, and being located in the central business district makes it easily accessible for customers and clients.

The geographical coordinates of the bank's headquarters are 01°56'49.0"S, 30°03'38.0"E, which can be used to pinpoint its exact location on a map.

As of December 2016, the bank had an asset base of RWF:193.527 billion, which is equivalent to US$227.5 million.

The bank is a medium-sized financial institution, which is a good size to provide personalized service to its customers.

Its shareholders' equity stood at RWF:17.835 billion, or US$21 million, indicating a strong foundation for the bank's operations.

The bank received RWF:161.625 billion, or US$190 million, in customer deposits, showing a high level of trust from its customers.

The bank is a 100 percent subsidiary of Ecobank Transnational Incorporated (ETI), a pan-African financial conglomerate with operations in 36 countries.

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The Board of Directors at Ecobank Rwanda is responsible for providing strategic direction and oversight to the bank. As of December 2016, the members of the Board of Directors included Vianney Shumbusho as Chairman, Ephraim Turahirwa, Ivan Twagirashema, Ibironke Wilson, and Rose Gakuba, with Alice Kilonzo-Zulu serving as Managing Director.

In December 2017, Alice Kilonzo-Zulu was still the Managing Director and Chief Executive Officer of Ecobank Rwanda. Her role involved overseeing the bank's operations and making key decisions.

The bank has undergone changes in its leadership team over the years. In 2023, Ivan Twagirashema retired after serving as Chairman of the Board of Directors for 4 years. He was replaced by Richard Mugisha, a seasoned entrepreneur and legal expert with over 25 years of practice.

Richard Mugisha brings significant experience and expertise to the role of Chairman of the Board of Directors. He has a proven track record of driving strategic growth and operational excellence in various organizations, including those in the financial sector.

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As of the time of his appointment, Ecobank Rwanda's Managing Director was Mrs. Carine Umutoni. She expressed gratitude to Mr. Mugisha for joining the bank and looked forward to leveraging his expertise to drive forward the bank's innovation and excellence agenda.

Mr. Mugisha's appointment is part of Ecobank Rwanda's ongoing commitment to strengthen its leadership team and drive forward its strategy of delivering innovative financial solutions to the Rwandan market.

Ecobank Rwanda has a strong network of partnerships that help drive its mission forward. The bank has partnered with the Mastercard Foundation to support financial inclusion in Rwanda.

This partnership has enabled Ecobank to provide financial services to underserved communities, helping to bridge the financial gap. Ecobank's mobile banking service, Ecobank Mobile, has been a key tool in achieving this goal.

The bank has also partnered with the Rwandan government to implement various initiatives that promote financial inclusion and economic growth. One such initiative is the Rwanda Online Payment System.

Ecobank's partnerships have also enabled it to expand its services to rural areas, where access to financial services is limited. The bank's mobile banking service has been instrumental in reaching these communities.