Congratulations to the Kagame government – of the 5 methods used to grab pension funds, 1 method has been abandoned

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I consider myself to be a fair person. I always try to give credit where it is due. I congratulate the Kagame government for abandoning at least one of the five means of facilitating RPF’s Crystal Ventures Ltd to grab the Rwandan people’s pensions.

As my readers may recall, I recently highlighted five methods of looting people’s pensions in Paul Kagame’s Rwanda as follows:

Method 1: Placing directly onto the board of directors of Rwanda Social Security Board an officer from Kagame/RPF’s Crystal Ventures Ltd to give CVL an advantage. What is my evidence? Elias Bayingana, Chief Operating Officer of CVL sits on RSSB board of directors.

Method 2: Placing directly into RSSB senior management, close relatives. What is my evidence? Innocent Gakwaya, who is Deputy Director General of RSSB in charge of benefits, is the husband to Kagame’s sister.

Method 3: Placing directly into RSSB senior management of former managers of either CVL or from Horizon, the Rwandan military holding company. What is my evidence? The newly-installed Director General of RSSB, Daniel Ufitikirezi, is former senior manager in Horizon Group.

Method 4: Form “special vehicles” for CVL to access RSSB money to establish CVL companies. What is my evidence? Building Materials Investments Ltd (BMI) was formed by CVL, Horizon, a Rwandan Army company, and RSSB to establish East African Granite Industries and to buy the privatised Ruliba.

Method 5: Changing the institutional oversight of RSSB to ensure total control of RSSB by officials closer to Kagame. What is my evidence? Previously, the ministry in charge labour provided general supervision to RSSB as is done in East Africa. Kagame brought RSSB (then CSR) to Ministry of Finance, then run by James Musoni who is also the real treasurer of CVL.

I am happy to inform you that when today I visited RSSB website, CVL’s COO Bayingana no longer appears on the RSSB Board of Directors. Great news.

Now the bad news – this is in regards to Method 3, namely, placing directly into RSSB senior management of former managers of either CVL or from Horizon, the Rwandan military holding company. The newly-installed Director General of RSSB, Daniel Ufitikirezi, is former senior manager in Horizon Group.

Here is a problem – on the website of the Bank of Kigali where Ufitikirezi is a director because RSSB is the second largest after the government, it is stated that he (Ufitikirezi), holds a PhD from Golden State University, in India. There is no such a university.

http://www.goldenstateuniversity.edu/tafadmission.htm

http://www.degreeinfo.com/general-distance-learning-discussions/14737-golden-state-university.html

Something is terribly wrong here – to entrust over a half billion dollars in Rwandan pensions to someone who passes for what he is not. The issue is not Daniel Ufitikirezi, but the regime that has deployed him in RSSD to loot the fund for RPF companies. Ufitikirezi is a mere pawn.

Dr David Himbara

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