KCB Appoints New Rwanda Managing Director

Patience Mutesi has been named as the new managing director of BPR Bank Rwanda – the entity resulting from the 2022 merger of Banque Populaire du Rwanda and KCB Bank Rwanda. Her appointment will take effect on February 1, 2023.

Mutesi replaces George Odhiambo who, according to the company, will be assigned other duties within the Kenya Commercial Bank (KCB) Group. Odhiambo was appointed MD of KCB Bank Rwanda in 2017, and took charge of the merged entity, BPR Bank Rwanda, in April 2022.

Mutesi joins BPR Bank from the regional, aid-supported trade organization TradeMark East Africa, where she has been Country Manager for Rwanda since 2016. In a statement announcing her appointment, BPR credited her with overseeing “a strategic trade facilitation programme which contributed significantly towards increasing Rwanda’s trade, investments and job creation.”

She has previously sat on the board of BPR Bank Rwanda Plc, as well as the boards of MTN Rwandacell Plc, Rwanda Cooperation and the advisory council of One Acre Fund in Rwanda.

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Reacting to her appointment, Mutesi promised customers improved services stating: “I am confident that through the latest digital developments, our customers will transition into best-in-class financial services. By increasing provision of capital to businesses for quality investment, we will also continue to support Rwanda’s ambition to foster a private sector-driven economy.”

KCB Group held an 87.5 percent stake in BPR Bank Rwanda as of May last year. The Kenyan banking group acquired a 62 percent stake from London-based Atlas Mara Limited and an additional 14 percent stake from PE firm Arise, and has been keen on snapping up the remaining minority stock holdings.

The merger made BPR Bank Rwanda the largest bank in Rwanda by footprint, with 154 branches spread across the country.

BPR Bank Rwanda board chairman George Rubagumya credited Odhiambo for helping drive growth during his time at the helm, even as he looked forward to Mutesi’s entry stating: “We are delighted to have Patience on board, and are particularly pleased with the experience she will bring with her invaluable background in finance and trade development.”

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