Kigali, February 16, 2023- On behalf of President Paul Kagame, Prime Minister Dr. Edouard Ngirente inaugurated “Nine on the Avenue”, the new building for the I&M Bank Rwanda Head Office.

In his remarks, Prime Minister recalled the importance of the banking sector in the growth of Rwanda’s economy. In this regard, he revealed that the assets of the banking sector represent 67.3% of total financial sector’s assets and its support to the growth of our economy is tangible.

He also commended the contribution of the banking sector in promoting financial inclusion and noted that currently 36% of adults, equivalent to 2.6 million people in Rwanda are using banking services.

The Premier also stated that Rwanda has embarked on economic reforms to enable the transition to a financial services hub for Pan-African investment.

He mentioned that the Kigali International Financial Centre (KIFC) has been established to stimulate demand for financial services and provide increased employment opportunities for Rwandans, especially the youth.

While addressing the audience, Prime Minister also commended the I&M Bank’s investment in construction of its Head Office.  He added that this building, with its cutting-edge technology, will ease accessibility, promote safety and functionality for both staff and customers.

Prime Minister insisted that in order to offer affordable financial services to customers and reduce the number of unbanked population, the Government will continue to create an enabling and conducive regulatory environment that promotes innovation in the banking sector.

He called upon all actors in banking sector to continue focusing on growth-enhancing economic activities through financial inclusion, product innovation and diversification.

He concluded by thanking banks for being part of Rwanda’s recovery efforts from Covid-19, especially for  the flexibility of commercial banks in restructuring loans for clients in order to help them cope with the negative effects of the pandemic.

To read more about the remarks delivered by Prime Minister, click here

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