Board of Directors




Board Chairman

Hon. John Rwangombwa was appointed Central Bank Governor on the 25th February 2013. His career started in Rwanda Revenue Authority where he grew through ranks to the Deputy Commissioner of Customs for Operations. He then joined the Ministry of Finance and Economic Planning in 2002 as the Director of the National Treasury Department. Having served as the Ministry’s first Accountant General in 2005, Mr. Rwangombwa was appointed Permanent Secretary and Secretary to the Treasury in the same year and in 2009 he became the Minister of Finance and Economic Planning.  At that time, he oversaw the elaboration and implementation of Rwanda’s first Economic Development and Poverty Reduction Strategy (EDPRS I), under which Rwanda’s economy was able to achieve high growth at an average of 8% and poverty was reduced by 12% in 5 years from 2006-2011.

Since his appointment as Central Bank Governor to date, Mr. Rwangombwa has been able to maintain the stability of the Rwandan Economy and its Financial Sector. He was voted Governor of the Year 2015 for the Sub-Saharan Region by Emerging Markets.

Mr. Rwangombwa serves as member of various advisory bodies including the Presidential Advisory Council and World Economic Forum on Global Agenda Council


Board Vice Chairperson


Dr Monique NSANZABAGANWA is the Deputy Governor of the National Bank of Rwanda since May 2011. She also served as Minister of Trade and Industry (2008-2011) and Minister of State for Economic Planning in the Ministry of Finance and Economic Planning (2003-2008). Prior to that, she lectured at the National University of Rwanda, currently University of Rwanda. Fluent in English and French, Dr Monique Nsanzabaganwa is an Alumnus of Stellenbosch University, South Africa where she studied Economics, with a Cum Laude Masters obtained in 2002 and a PhD in 2012.

As Minister of Trade and Industry, Dr Monique Nsanzabaganwa spearheaded the implementation of Doing Business reforms whereby a dozen of business related laws were drafted, defended and passed by Parliament in less than a year earning Rwanda the privilege of global best reformer (DB 2010 Report) and second best reformer the year after (DB 2011 Report). By the time she left the Ministry, Rwanda ranked 45th globally (DB 2012 Report). She contributed to the creation of RDB (Rwanda Development Board), a flagship institution for the development of the private sector in Rwanda. As the first woman to head the Ministry, she also focused on formulating policies and implementing reforms in the areas of consumer rights and protection, competition, intellectual property rights, handcrafts, cooperative movement and conservation whereby she led the setting up of the first compensation scheme for damages caused by protected animals.

Under her tenure of Economic Planning portfolio, Dr Monique Nsanzabaganwa contributed to the strengthening of the planning and statistical system both at the local and national levels. She coordinated the implementation, monitoring and evaluation of PRSP2 and the elaboration of the first EDPRS (Economic Development and Poverty Reduction Strategy). She also spearheaded the establishment of the National Institute of Statists of Rwanda and the formulation of the Microfinance policy and legal framework.

Dr Monique NSANZABAGANWA sits on a number of Boards, including the National Institute of Statistics of Rwanda where she chairs the Board of Directors, and the Women’s World Banking, a global nonprofit organization that promotes banking solutions for low-income women,   where she is a member of the African Advisory Council. Dr Nsanzabaganwa is also a founding member and chairperson of NFNV (New Faces New Voices) Rwanda Chapter. NFNV is a Pan-African movement that aims at empowering women in finance. Her other responsibilities in the civil society of Rwanda include leading executive work as 1st Vice Chairperson of Unity Club, a non-government organization composed of Rwandan former and current ministers and spouses and chaired by the First Lady of Rwanda. Unity Club objective is to reflect models of unity to inspire community in nation rebuilding and sustainable development.

Dr Monique NSANZABAGANWA is a Fellow of the Harvard University John F. Kennedy School of Government’s Executive Education in Public Financial Management, a Fellow of the Africa Leadership Initiative East Africa and the Aspen Global Leadership Network, and a member of the African Leaders Network, a premier community of dynamic and influential leaders in Africa. 


Board Member


Mr Ivan MURENZI is the Deputy Director General (DDG), at the National Institute of Statistics of Rwanda from 5 April 2017 to date, and he is a statistician and economist with expertise in research, data collection and analysis.


Prior to that, his work as a financial inclusion specialist at AFR included financial sector research and policy development, MSME financing, branchless banking and mobile financial services, financial education, and institutional support to financial sector partners.


Prior to joining AFR, he worked a range of government institutions, research organizations, and a private consulting firm. He holds a master’s in policy economics from the Centre of Development Economics, Williams College.


Board Member


Mr. Leonard RUGWABIZA is the  Economic Advisor, Ministry of Finance and Economic Planning. He also served as the Chief Economist, Ministry of Finance and Economic Planning since 2015, prior to that Leonard Rugwabiza was the director general for national planning and research at Rwanda's Ministry of Finance and Economic Planning, he spent two years as an economist with the African Development Bank. Earlier, he served in the strategic planning unit of the Ministry of Finance.

He has been instrumental in shaping, strategizing and implementing Rwanda’s economic policies.

Ms. KEZA Faith

Board Member


Ms. KEZA Faith is the Chief Technology Officer at RwandaOnline, developer and operator of Irembo, a platform that is digitizing the way the Government of Rwanda offers services to citizens and businesses. Irembo has currently served 1.4M Rwandans and offers over 80 services online. Prior to RwandaOnline, Faith worked in Silicon Valley, California as a Software Engineer at Google, Delphix and Oracle working on both enterprise and consumer software products.


Faith graduated from the Massachusetts Institute of Technology (MIT) with a degree in Electrical Engineering and Computer Science and a Minor in Business Administration from the Sloan School of Management. 



Hadija Ndangiza MURANGWA profile

Board Member


Mrs. MURANGWA Ndangiza Hadija (LLM), is a Senior Tax Expert and Legal Practioner, with massive experience in tax advisory work. She is a member of Kigali International Arbitration Center (KIAC) with a Certificate of Associate of The Chartered Institute of Arbitration (London).

 Career achievements

 ·       Engaged in tax and legal advice in the Rwandan Public and Private sector;

·   Conducted and participated in influential reviews of various Tax and Trade projects supported by the Government of Rwanda, the GIZ, IFC - World Bank group, ATAF and

·      Instrumental in delivery of East African Community Tax harmonization programs.

 Notable Advisory Positions

·    International Finance Corporation (IFC - World Bank group) EAC Tax Harmonisation project;

·         GIZ, Senior Advisor, Tax advisory project;

TradeMark East Africa (TMEA) EAC Regional Integration Specialist – Legal Reform;

·         African Tax Administration Forum (ATAF): Consultant; and

·         Currently works as a Consultant in charge of Strategy and Institutional Sustainability at the Institute of Certified Public Account of Rwanda (ICPAR).


Hadija has served on various Boards, including; The Development Bank of Rwanda (BRD); The Military Medical Insurance (MMI) and Rwanda Biomedical Center (RBC)


Board Member


Ms. Chantal HABIYAKARE is the Chief Internal Auditor of RwandAir Ltd. since August 2011. She holds a Bachelor of commerce in accounting from Concordia University in Montreal Canada and a Post Graduate Degree in Public sector Accounting and Auditing. She is a qualified Chartered Accountant from the Canadian Institute of Certified Public Accountants and the Institute of Certified Public Accountants of Rwanda (ICPAR) with over 15 years’ experience in Auditing and advisory services. She previously held Managerial positions with the following accounting and audit firms: Fuller Landau LLP in Montreal, Canada and KPS Associates in Kigali Rwanda. 

She has a vast experience in financial management, Business Planning, systems reviews, Due Diligence, Corporate and Personal Tax, business management training and auditing, of banks, manufacturing, Aviation, telecommunication, transport, hospitals and NGOs sectors just to name  a few. In her carrier in the public audit sector she has handled numerous high profile clients across all sectors of business. She is fluent in English, French and Kinyarwanda. 

Dr. Ildephonse MUSAFIRI

Board Member


Dr. Ildephonse MUSAFIRI is a Senior Economist with more than 12 years of proven experience. Currently he is working as Deputy Head of the Strategy and Policy Unit (SPU) in Charge of Economic Cluster in the Office of President. In his role, he provides judicious practical strategic and policy advice to H.E. the President of the Republic of Rwanda on socio-economic issues: economic outlook, trade, investment, economic planning & finance, agriculture, infrastructure, environment & natural resources, ICT, health, education, and on key functions both at the international and domestic levels.

Prior to that, he worked respectively as Lecturer, Researcher and Head of the Economics Department at University of Rwanda (UR); dealing with supervision, programs coordination, department administration, teaching, research and consultancy. His research activities focus on economic policy analysis, rural and development economics, poverty & inequality, agricultural growth, food policy, and quantitative economics. He has a considerable number of publications in peer-reviewed journals. Previously, he worked for World Vision Rwanda as Community Capacity Strengthening Officer where the function focused on institutional building/strengthening and economic empowerment.

Ildephonse earned his Ph.D. Degree in Agricultural Economics at Bonn University (Germany) in 2015 and a Master’s degree in Applied Economics from the University of Rwanda in 2008. He is fluent in English, French, and Kinyarwanda, and has an intermediate command of spoken and written German.