Rwanda says it will privatize Development Bank of Rwanda (BDR). This is be the latest of several state sell-offs in recent years. The move, says Rwanda, will improve the bank’s performance.

“The government, which wants to build a regional financial hub in Rwanda, has sold stakes it held in other commercial banks, including 45 percent of Bank of Kigali, via a stock market flotation in 2011,” reports iOL.

“The Government of Rwanda plans to privatise the Development Bank of Rwanda (BRD) in a move to reform its operation and ensure that the bank effectively serves its mandate,” the Finance Ministry said in a statement, adding that more details would be released on Sunday.