Meet Diane Karusisi: Top economist leading Rwanda’s largest bank to new financial heights

Diane Ngendo Karusisi, a Rwandan economist and statistician, has spent a decade shaping the future of Bank of Kigali, Rwanda’s largest financial services company.

As CEO of Bank of Kigali, she has overseen a sweeping digital transformation, expanded the bank’s footprint into insurance, investment banking, and technology, and championed financial inclusion across the country. 

Karusisi became chief executive of Bank of Kigali Plc in March 2016, succeeding James Gatera after nearly nine years in the role. Her appointment marked a shift toward a more technology-focused strategy at the lender, which sits at the center of Rwanda’s financial system.

From policy to the boardroom

Before joining the bank, Karusisi worked at the highest levels of government. She served as head of strategy and policy and chief economist at the Office of the President of Rwanda from 2012 to 2016. There, she helped shape national economic priorities and gained a close view of the country’s development agenda. 

Her earlier career blended academia and finance. She taught statistics at the University of Fribourg in Switzerland from 2000 to 2006 and worked as a fixed-income portfolio engineer at Credit Suisse in Zurich. She also held a senior advisory role at the National Institute of Statistics of Rwanda from 2009 to 2012, where she oversaw major national surveys. 

Karusisi holds a master’s degree in econometrics and a doctorate in quantitative economics from the University of Fribourg. Her research focused on risk modeling and measurement, a background that continues to inform her approach to banking. She currently serves on several boards, including the University of Rwanda and the Rwanda Development Board, reinforcing her commitment to public service and national development.

Karusisi drives digital banking strategy

Founded in 1966 as a joint venture between the Rwandan government and Belgolaise, Bank of Kigali has grown into a nationwide financial powerhouse. Today, under Karusisi’s leadership, the bank operates 68 branches, 95 ATMs, and over 1,400 agents. BK Group also includes BK Capital, a securities brokerage offering access to local, regional, and international markets. 

Karusisi has placed digital innovation at the heart of BK’s strategy. In March, the bank expanded with its Rusizi II branch, growing daily customer visits from around 100 to more than 600. Partnerships with technology firms, including GTech of Istanbul, have introduced enterprise-grade analytics platforms, enabling the bank to manage data more efficiently and support sustainable growth.

On March 26, Bank of Kigali led a landmark Project Zorro telecom financing deal, backing Ishara Towers Rwanda’s acquisition of 1,467 towers. The bank structured the transaction alongside BRD, BPR, I&M, Ecobank, and Access Bank, highlighting its role in driving Rwanda’s telecom infrastructure growth.

Financial Performance that impacts communities 

Bank of Kigali’s 2025 half-year results illustrate the tangible impact of Karusisi’s leadership. The bank posted a profit after tax of Rwf 52.2 billion ($35.7 million), a 12.9 percent increase from the previous year. Growth was fueled by loan book expansion of Rwf 231 billion ($157.9 million), disciplined cost management, improved asset quality, and a 7.9 percent increase in customers. Total assets reached Rwf 2.6 trillion ($1.78 billion). 

Karusisi emphasizes that these numbers are more than financial metrics. “Our growth is tied to people,” she said, highlighting initiatives that empower individuals and support businesses throughout Rwanda.

BK Group has been particularly active in driving financial inclusion, reaching clients who previously lacked access to banking services.

A vision for Rwanda’s future

Diane Karusisi has also stepped up engagement with global investors to drive Rwanda’s economic growth, backing strategic sectors like electric vehicle assembly and manufacturing. Three years ago, she assured Cross Connect Capital’s Irfan Afzal of Bank of Kigali’s support for EV investments, signaling confidence in the country’s industrial push.

As Rwanda accelerates modernization, Karusisi is blending innovation with stability. Under her leadership, Bank of Kigali is strengthening digital banking, boosting financial inclusion, and supporting sustainable development, positioning the lender as a key driver of economic expansion and long-term value creation.