Rwanda: BRD Is Up For Sale Paul Kagame needs cash, and he needs - TopicsExpress



          

Rwanda: BRD Is Up For Sale Paul Kagame needs cash, and he needs it now. Desperately. Now hes selling Rwanda Development Bank (BRD), whose CEO Turatsinze he had to assassinate awhile ago in Mozambique. Yet, Kagames stated reason to raise capital for the bank is the very corruption culture that the late CEO was trying to eradicated before he was forced out. Who is going to invest in such a bank with chronic problems? Plus, what country privatizes its development bank anyway? There are founded fears that the bank is undercapitalized and that its current capital requirements do not adequately take provisions for potential loan losses into consideration. Notice that foreign shareholders have had to pull out of BRD because the political risk was simply too high. These foreign institutions, no longer represented on the board of directors are as follows: Agence Française de Développement (AFD); German Investment and Development Company (DEG); Dutch Finance Company for Developing Countries (FMO); State of Belgium through Administration Générale de la Coopération au Développement (AGCD); The Bank of Tokyo Ltd. For more details on the sale of BRD, see busiweek/index1.php?Ctp=2&pI=816&pLv=3&srI=51&spI=26&cI=10
Posted on: Tue, 25 Mar 2014 14:17:57 +0000

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