Africa Rwanda

Capacity Building for Development Bank of Rwanda

Financial Crime, Funding Solutions & Capital Markets, GBRW Consulting, GBRW Group, Policy and Procedure Development, Strategic and Financial Planning, Sustainable & Development Finance, Treasury

GBRW was retained by the Development Bank of Rwanda to undertake a comprehensive capacity building project sponsored by the African Development Bank.

The Development Bank of Rwanda (BRD) is the national Development Finance Institution (DFI), tasked with enhancing access to finance with a view to achieving Rwanda’s strategic economic and social development goals.

GBRW provided an expert team of five consultants to cover the range of subject matter. Delivery included a suite of revised policy and procedure manuals specifically for the Finance function, Treasury and Asset and Liability Management (ALM) and ALCO, and Financial Crime prevention, including specific policies for Anti-Money Laundering (AML), Sanctions and Embargoes, and Politically and Financially Exposed Persons (PEP and FEP). The Financial Crime policies were subsequently developed into a comprehensive and accessible toolkit for staff to use in their day-to-day activities, including an e-learning course covering Financial Crime prevention.

Further input included extensive work with the Finance function to enhance the budgeting and financial planning process. In parallel, GBRW supported the Bank in adopting the Balanced Scorecard approach to strategic management, with a view to ensuring that Key Performance Indicators (particularly financial ones) were closely aligned. A comprehensive review of the five-year financial plan was also provided, along with a multi-currency forecasting tool. In addition, GBRW provided practical guidance and recommendations on the potential implementation of a transfer pricing policy in the Bank.

The financial planning tool was instrumental in helping the Bank better understand and forecast its foreign exchange mismatch risks. GBRW worked with the Bank to develop Balance Sheet Management strategies to assist in the practical hedging of FX risk. This included supporting the Bank in exploring the potential for supplementing its capital base with a domestic and/ or foreign bond placement, and to assess the options for hedging hard currency borrowing with FX derivative products.

Deliverables included:

- Consulting and on-the-job training on Strategy and Financial Planning

- Consulting and on-the-job training on Treasury and Balance Sheet Management

- Consulting and on-the-job training on Accounting and Financial Control, and Management Information Systems

- Consulting and on-the-job training on Financial Crime Prevention

- Implementation of Learning Management System and development of e-Learning in Financial Crime Prevention