Crystal Ventures Ltd (CVL), one of Rwanda’s most prominent investment holding companies, has announced the appointment of Nick Barigye as its new Group Chief Executive Officer. Barigye takes over from Jack Kayonga, who has served in the position since 2022.
The appointment marks a return to familiar grounds for Barigye, who previously served as a Senior Executive at CVL between 2008 and 2014. His return is being received with optimism and high expectations.
“We’re especially proud to welcome him [Barigye] back as an alumnus of CVL and are confident that under his leadership, valuable global and local perspective, CVL will continue to thrive and advance its strategic goals,” reads an official statement from the company.
Prior to rejoining CVL, Barigye was the Chief Executive Officer of Rwanda Finance Limited, the institution behind the development of the Kigali International Financial Centre (KIFC). For six years, he led efforts to position Kigali as a trusted and competitive financial hub, helping attract global investments and encourage the creation of high-skilled jobs in the finance and fintech sectors.
Barigye brings with him over 15 years of leadership experience in finance, investments, and advisory roles across Africa. He was previously the Managing Partner at Karisimbi Business Partners, a firm focused on investments and business advisory services across the continent.
He holds an MBA in Strategic Management from Strathmore Business School in Kenya and a Bachelor of Business Administration in Finance from the National University of Rwanda.
About Crystal Ventures Ltd (CVL)
Established in 1995 under its original name, Tri-Star Investments Ltd, CVL was created in the aftermath of the 1994 Genocide against the Tutsi, at a time when Rwanda’s private sector and industrial base had been nearly wiped out. The company’s founding mission was to lead investments in key sectors, particularly those with high socio-economic impact that were previously underdeveloped or untapped.
Today, CVL is regarded as Rwanda’s largest private sector employer, owning and operating major subsidiaries including Inyange Industries, NPD Ltd, ISCO Security, Real Contractors, and East African Granite Industries.
In 2023, CVL companies contributed over Rwf 50 billion (approximately $45 million) in taxes to the national economy. Plans are underway to list the company on the Rwanda Stock Exchange by 2025, as part of a broader effort to open up investment opportunities and further strengthen Rwanda’s capital markets.
With Barigye at the helm, expectations are high that CVL will continue its expansion and deepen its impact on Rwanda’s economic development.
Brenna AKARABO
RADIOTV10
