I&M Bank (Rwanda) PLC Appoints Mr. Nikhil Rustam Hira as New Board Chairman

I&M Bank (Rwanda) PLC is pleased to announce the appointment of Mr. Nikhil Rustam Hira as the new Board Chairman, effective 15th July 2024. Mr. Hira succeeds Mr. Bonaventure Niyibizi, who is retiring after serving the Bank with distinction and dedication.

Mr. Hira brings a wealth of experience and a proven track record in leadership spanning over 42 years. He has consistently demonstrated a commitment to innovation, strategic growth, and excellence in corporate governance.

Since 2019, Mr. Hira has served on the Board as an Independent Director and Chairperson of the Board Audit Committee, as well as a member of both the Board Credit Committee and the Board Strategy Committee.

“We are delighted to welcome Mr. Nikhil Hira as our new Chairman,” said Mr. Benjamin Mutimura, CEO of I&M Bank Rwanda. “His visionary leadership and deep understanding of the industry will be invaluable as we continue to drive our strategic initiatives and enhance value for our stakeholders. We are confident that under his guidance, I&M Bank Rwanda will reach new heights of success.”

Mr. Hira is a highly experienced financial professional, currently serving as the Regional Representative of the Eastern Africa Association and a Partner at Kody Africa LLP.

He is a former partner at Deloitte East Africa, where he headed the Tax Practice for Deloitte in the East Africa region. He is also a Non-Executive Director on the board of I&M Bank Kenya, Board Chairman of GA Insurance Ltd in Kenya, and a board member of two private companies: Securex Agencies (K) Ltd and Shalimar Fresh Ltd in Kenya.

He holds a BSc Joint Honours in Accountancy and Process Engineering from the University of Salford, England. Additionally, he is a Fellow of the Institute of Chartered Accountants of England and Wales, Fellow of the Institute of Certified Public Accountants of Kenya, and also registered with similar institutes in Uganda and Tanzania.

“I am honoured to take on the role of Chairman at such a pivotal time for I&M Bank Rwanda,” said Mr. Hira. “I look forward to working closely with the Board, the management team, stakeholders, and our talented employees to continue delivering exceptional value to our customers and shareholders. Together, we will build on the bank’s strong foundation and drive future success.”

I&M Bank Rwanda has a rich history of serving the financial needs of individuals and businesses, with a commitment to providing innovative banking solutions and enhanced customer experiences.

The appointment of Mr. Hira as Chairman reflects the lender’s dedication to strong leadership and governance as it navigates the evolving financial landscape.