Look at BRD’s Timeline. What do you see? Why does it smell so bad? Respond here or via in-box!
* 2005 – Théogène Turatsinze takes over as Managing Director;
* 2007 – African Development Corporation (ADC) owned by German investors expresses interest of buying majority shares;
* 2008 – Turatsinze departs in unclear circumstances – and relocates to Mozambique;
* 2008 – ADC invests in BRD;
* 2008 – Row erupts between BRD board headed by Henry Gaperi, Management, and Minister of Finance, James Musoni – on share prices ADC is offering;
* 2009 – ADC abandons BRD in mysterious circumstances;
* 2010 – Henry Gaperi, BRD Chairman resigns – and is for weeks mysteriously prevented by police from leaving Rwanda for his new job with International Monetary Fund (IMF) in Tanzania;
* 2012 – BRD named the third best managed development bank in Africa out of 73 national development and 12 regional banks;
* 2012 – Jack Kayonga (who took over as CEO of BRD in 2009) is crowned Africa’s Young Business Leader for “outstanding performance;”
* 2012 – Turatsinze murdered in Mozambique;
* 2013 – Jack Kayonga leaves BRD managing directorship to become Chairman of Crystal Ventures;
* 2014 – 10 March, National Leadership Retreat passes resolution (39) “to expedite restructuring of the functioning and management of BRD so that it fulfils its mission.”
* 2014 – 31 March, Atlas Mara announces plans to acquire African Bank ABC and its parent African Development Corporation;
* 2014 – 6 April, Atlas Mara, announces plan to buy BRD;
* 2014 – 13 April, Rwanda government signs a non-binding MOU with Atlas Mara for buying BRD
David Himbala
