By Emmanuel Respa
Prime Minister of Rwanda, His Excellency Dr. Edouard Ngirente, has today inaugurated I&M Bank (Rwanda) Plc’s iconic green headquarters building located in the heart of Kigali.
The 3540sqm building dubbed 9 on the Avenue is part of the Bank’s commitment to support the Rwandan Government’s strong dedication and commitment towards promoting and enabling sustainable urbanisation.
During the inauguration ceremony of the building, The Prime Minister of Rwanda, His Excellency Dr. Edouard Ngirente noted:
“Today, as we celebrate this milestone in Rwandan Banking sector, the Government of Rwanda commends the I&M Bank’s 25 billion Rwandan francs investment in construction of its head Office. We are happy to learn that during the construction phase of this building, major components of the base build were all locally sourced, local contractors, subcontractors, consultants and that a thousand Rwandan workers were hired to work on this site in different capacities. This is huge contribution to our Made in Rwanda policy and a major boost to Rwanda’s job creation efforts”
The Bank invested more than RWF 25 billion in the environmentally conscious and sustainable construction project which took about 4 years to complete.
Through this investment, the new Bank premises roofing generates 210kW solar power reducing dependency on the building’s use of electricity from the national grid. Furthermore, bespoke locally manufactured bricks and concave windows help cool down the interior of the building reducing the need for excessive air conditioning usage. Additionally, the Bank building has been designed to allow for rainwater to be captured and converted to fully potable water within the building.
Speaking at the inauguration, I&M Bank (Rwanda) Plc Board Chairman, Mr. Bonaventure Niyibizi noted:
"As the oldest commercial bank in the country, we are grateful for the support the Government of Rwanda has bestowed I&M Bank over the past 60 years. As we continue to work together to make Kigali and the wider Rwanda more sustainable, I&M Bank is committed to supporting the growth of sustainable urban development, and supporting local businesses to contribute to the sustainable economy of Rwanda,” said Niyibizi.
Also present at the inauguration, Group Executive Director, Mr. Sarit Shah affirmed that the Bank Group is committed to the Rwanda’s sustainability agenda and local economy.
“I am pleased to see the inauguration of yet another I&M green building, The Avenue; second to Kenya’s I&M green building, One Park. The 9 on the Avenue building is a reflection of the Bank's leadership as a champion and financial partner for sustainable development in the country and Eastern Africa as a whole. I would also like to thank the Government of Rwanda for creating a conducive business environment and supporting investors like us. Your efforts and support have contributed significantly to our success. We are confident that this investment will help us to continue to grow and support the economic development of this country.” said Mr. Shah.
The building will provide a modern and sustainable workspace for employees and tenants and will continue to serve as a symbol of the bank's dedication to making a positive impact in the communities they serve.
ABOUT I&M BANK (RWANDA) PLC
Incorporated in 1963, I&M Bank (Rwanda) Plc is the oldest Bank in Rwanda. It is today one of the leading players in the industry with a strong footprint across the country.
I&M Bank Rwanda offers the full range of personal, business, institutional and corporate banking products throughout its locations. The Bank has been listed on the Rwanda Stock Exchange since March 2017.
The Bank is also a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda as well as a joint venture in Mauritius. I&M Group has a long history in banking and has established a wide network of correspondent banks across the globe and enjoys a strong relationship with leading international Development Financial Institutions.