Development of a Sustainable Finance Roadmap for Rwanda

Access to Finance, Development Finance Institutions, GBRW Consulting, GBRW Group, Green Finance, Sustainable & Development Finance

GBRW was a member of a consortium contracted by The Ministry of Finance and Economic Planning of Rwanda to provide consulting services to support the Kigali International Financial Center (KIFC) in developing a Sustainable Finance Roadmap.

The purpose of the project, which was funded through the United Nations Development Programme, was to design a sustainable finance Roadmap, action plan, and capacity development strategy for the KIFC.

The Roadmap is instrumental in guiding Kigali’s development as a key regional financial centre, especially by building its capacity in financing sustainable development. This will enable the KIFC to attract new financial services market participants, and to innovate in launching financial products and services that meet the Environmental, Social, and Governance (ESG) demands of both local, regional, and international investors.

In addition, the Roadmap explores what other elements may be required to best join local and international capital with the sustainable investments in Rwanda that best underpin sustainable development goals.

In developing the Roadmap, GBRW worked closely with the KIFC to undertake an extensive diagnostic exercise. This exercise included a stakeholder analysis based on a macro-, meso-, and micro-level segmentation of the financial system; a benchmarking exercise against peer jurisdictions; and a complete situation analysis of the banking, capital markets, and insurance sectors.

This resulted in a set of robustly researched Strengths, Weaknesses, Opportunities, and Threats (SWOT) matrices which were the foundation for the development of a suite of sound key strategic objectives.

Download a copy of the Roadmap here.

Key deliverables included:

  1. Macro-, meso- and micro-level stakeholder analysis of the Rwandan financial system
  2. Peer review and benchmarking against sustainable finance capacity of several jurisdictions on the African continent
  3. A PESTLE-based situation analysis of the banking, capital markets, and insurance sectors
  4. Preparation of a detailed diagnostic review with a comprehensive SWOT analysis
  5. Proposals for key strategic objectives and related key strategic initiatives
  6. Elaboration of strategy into detailed Roadmap encompassing specific, measurable, achievable, relevant, and timed targets, milestones, tasks, and activities with responsibilities and accountabilities assigned
Rwanda Sustainable Finance Roadmap