Kagame Capture of Rwanda’s Pension Fund is Complete. He has Externalized the Positions of the Chairman of the Board of Directors and Head of Funds Management
By David Himbara
Of the three forms of corruption, namely, bribery, embezzlement and state capture, the Rwandan strongman General Paul Kagame has excelled at state capture. State capture occurs when the ruling elite and powerful business interests manipulate policy to their own advantage. In Rwanda’s version of state capture, Kagame builds his ruling party businesses with Rwanda’s pension fund. To ensure total control of the pension fund, Kagame appoints either a relative or a business crony chairman of the directors of board. Kagame has changed tactics. He has installed a foreign national not only in the position of the pension fund’s chairman but also in the position of deputy director general in charge of funds management.
Corruption is generally two main forms. The first and commonest form is bribery also known as administrative or petty corruption. The second form is embezzlement or plundering of public monies also known as grand corruption which also includes bribes paid at higher levels within public services. The less known but most devastating form of corruption is state capture. State capture occurs when the ruling elite and powerful business interests manipulate policy formation and influence laws and economic regulations to their own advantage. …