In a bid to propel Rwanda towards its ambitious goal of becoming a middle-income country by 2035 and a high-income country by 2050, the international organization for migration, in collaboration with the government of Rwanda, is reaching out to Rwandan finance professionals residing in Canada and the United States.
The aim is to harness their expertise and skills to fortify the financial sector, a pivotal component in driving economic development, job creation, and inclusive growth.
Norbert Karemera, a Skills Officer at the Rwanda Development Board, emphasized the urgency of building capacity within the financial sector. He noted, “It’s important to build the capacity of Rwanda working in the financial sector, especially at this time because Rwanda currently has a goal of being a middle-income country by 2035 and also a high-income country by 2050. The financial industry is a priority sector.”
The diaspora community has already played a crucial role in the transformation of Rwanda.
Hortense Mudenge, Chief Strategy at Rwanda Finance Limited, highlighted the community’s contributions and the strategic importance of the financial services sector. She stated, “Now, when it comes to the financial services sector, where we are positioning to be a financial services hub, we are looking to widen the pool of financial professionals and institutions in our ecosystem.”
Mudenge further emphasized the unique advantages the diaspora community brings: exposure, specialized skill sets, and entrepreneurial experiences. She added, “The beauty of the community abroad is that they have more exposure to this, they have specialized skill sets in this, they have started up their own businesses. We have passed several reforms, several incentives have been offered as a way to encourage our own community to come and contribute.”
Ingrid Cyuzuzo, Manager of Financial Sector Development & Innovation, highlighted the potential benefits of collaboration between the diaspora and local professionals. She said, “The Rwandan diaspora can gain from exchanging and working together with local professionals through establishing networks and connections. Rwanda has a unique experience of both resilience and efficiency. The growth recorded in such a short period post the Genocide against Tutsi in 1994 is remarkable, and therefore, the Rwandan diaspora can leverage the experience of how Rwanda has achieved this tremendous growth.”
Sandrine Uwimbabazi, Director of Rwanda Community Abroad at MINAFEET, stressed the significance of capacity building. “In the capacity building, there are several skills that we believe Rwandans living abroad can contribute to because they have acquired different skills that currently meet the gaps in the financial sector,” she explained.
In the spirit of collaboration and knowledge exchange, Ingrid Cyuzuzo encouraged the diaspora to become ambassadors for Rwanda’s potential. “We are eager to share our experience, to exchange about best practices and benchmarking. Rwandans in the diaspora could be great ambassadors for Rwanda’s potential around investment, partnership, and knowledge exchange,” she expressed.
Hortense Mudenge, Chief Strategy at Rwanda Finance Limited, issued a compelling call to action, urging the Rwandan community abroad to consider returning and contributing to the nation’s financial transformation. “My message to the Rwandan community abroad, whether in Canada, the United States, and beyond, is to explore Rwanda, to come back and support the transformation of Rwanda into a financial destination. If you are a lawyer, a tax advisor, an investment manager, or a financial manager, those are skill sets we are looking for. We want to connect with you to encourage you to come and explore the opportunities that you could leverage,” Mudenge asserted.
As the call resonates across borders, Sandrine Uwimbabazi reinforced the message, stating, “You have extensive experience that you can share. Rwanda is open for partnership.” The convergence of skills, experience, and a shared vision between Rwandan finance professionals abroad and the local community holds the promise of unlocking unprecedented economic prosperity and securing Rwanda’s position as a financial powerhouse on the global stage.