Bank of Kigali (BK) has reaffirmed its commitment to supporting clients in Musanze District through financing the expansion and modernization of projects in education, healthcare and commerce, as well as businesses recovering from financial challenges. The commitment was highlighted on November 5, 2026, when BK Chief Executive Officer Dr. Diane Karusisi visited the bank’s clients in Musanze to assess previously financed projects and explore new investment opportunities.
Among the projects presented were the expansion of Excel International Academy and Excel School, plans to construct a teaching hospital and modern library at INES Ruhengeri, and the reconstruction of the GOICO market following a devastating fire. Dr. Karusisi said visiting clients at their project sites allows the bank to understand their operations and financing needs better, noting that reports alone cannot provide a complete picture.
She emphasized that BK takes pride in supporting clients through both prosperous and challenging periods, pledging continued cooperation to promote development in the coming years. According to her, the visits also enable the bank to identify investment gaps and emerging opportunities. She cited a steel manufacturing company visited during the tour, where the need for additional investment in electricity infrastructure became evident. She said: “We continue to see opportunities in areas such as energy infrastructure, education, and technology, and for us these represent important avenues for future investment,” .
Rulinda Nathan, a representative of Excel International Academy and Excel School, welcomed the visit, saying it provided an opportunity to showcase the institution’s achievements and future development plans. He explained that BK financed the school’s ongoing expansion through a loan and that the partnership has remained smooth and supportive. The school currently employs more than 300 people and has attracted investments exceeding Rwf 2.8 billion. Rulinda said the institution began banking with BK in 2021 and secured financing in 2026 to expand its facilities and further improve the quality of education.
INES Ruhengeri Seeks Rwf 7 Billion for Hospital and Library Projects
INES Ruhengeri has announced plans to partner with Bank of Kigali on major infrastructure developments, including a teaching hospital and a modern library, for which it is seeking Rwf 7 billion in financing. The institution’s Rector, Fr. Dr. Jean Bosco Baribeshya, said the projects aim to improve professional training, strengthen research capacity, enhance educational quality and expand healthcare services for surrounding communities.
He explained that the university is seeking a Rwf 5 billion loan for the hospital and an additional Rwf 2 billion for a modern library equipped with advanced research resources. According to Fr. Dr. Baribeshya, INES Ruhengeri has maintained a banking relationship with BK since 2010 and has borrowed more than Rwf 8 billion from the bank while maintaining a strong loan repayment record.
He added that the partnership has contributed significantly to the institution’s growth, enabling it to expand its academic offerings to 34 undergraduate programmes and 15 postgraduate programmes.
GOICO Investors Seek BK Financing for Market Reconstruction
Beyond the education sector, Dr. Karusisi also met more than 200 BK clients in Musanze, including investors operating within the GOICO market complex. The President of the Private Sector Federation in Northern Province and one of GOICO’s investors, Theonas Tugengwenayo, said the visit provided an opportunity to discuss how the bank could continue supporting the market’s recovery and future development.
He noted that BK has been a key financial partner since the project’s inception and continued supporting investors during challenging periods. Following the devastating fire, investors requested relief measures, including a suspension of interest payments on the remaining Rwf 1 billion loan balance. Tugengwenyo explained that although the market was insured, the reconstruction plan involves developing a multi-storey commercial complex, which will require additional financing.
Northern Province Governor Maurice Mugabowagahunde said discussions between BK and investors focused on easing loan repayment conditions and facilitating access to additional financing to help affected businesses resume operations. He stated that authorities are working with the bank to develop tailored solutions for individual investors while ensuring that other major investment projects in Musanze continue without interruption.
During the visit, Dr. Karusisi reassured GOICO investors that Bank of Kigali would continue supporting them as they rebuild and strengthen their businesses.
