Tidjane Thiam has been named president of Rwanda Finance Limited, a government corporation that is set up to make Rwanda an international financial centre.

The appointment was signed by Prime Minister Édouard Ngirente at the end of a cabinet meeting chaired by President Paul Kagame on Wednesday.

Ivory Coast-born Thiam, who resigned as CEO of Swiss bank Credit Suisse in February, has been tasked with using his connections to build up the Rwandan capital Kigali as an international business and financial hub. 

The appointment of Tidjane Thiam, a revered authority in international banking and finance, is seen by financial experts as a major move by the Government of Rwanda. 

Rwanda has a stable and resilient economy with a ten-year average growth rate of 8.6 percent. 

It was also ranked first in Africa for the transparency of its government according to Transparency International’s 2019 report.

In recent years, the country has been known for its efforts to attract foreign capital. 

The Rwanda government says it intends through the corporation headed by Thiam to provide an optimum business suit the needs of global investors and financial institutions.