RSwitch CFO Godfrey Nduwayezu’s career began with a last-minute decision to study accounting in high school. This change of heart led him to a leadership role at a fintech company that is keen to fully transform Rwanda into a cashless economy.
CFO East Africa recently caught up with Godfrey to learn more about his professional and personal journey
Tell me about your career journey. How did your early career experiences shape your professional ambitions?
I started with some accounting courses in high school. I wanted to pursue sciences, but I shifted to accounting in the end, because I enjoyed working with numbers. and I was one of the best-performing students. I got the highest scores and then joined the University of Rwanda. That’s one of the top universities in the country. I chose economics, but I later switched to accounting, because it has always been my passion. It flows in my blood. Again, I was one of the highest performers. Some corporates attended graduation days to pick the best performers as employees. That is where my journey started.
I joined Marshall Bank here in Rwanda, which is now called Bank of Rwanda, as a fresh graduate. I spent almost two years there then went into freelancing, working with accounting firms here and there. Eventually, I went back to the Bank of Rwanda as a bank supervisor. I enjoyed auditing and supervising commercial banks for five years. It was compliance auditing, navigating from finance to other aspects of audit, covering the entire organisation. I really enjoyed being there. I gained a lot.
Then I joined RSwitch, which is a fintech company, and I got the opportunity to be a CFO. It's inspiring professionally because it is my passion and I love numbers.
What are some of your career milestones, and how have they shaped your journey?
Shifting from the central bank to being a finance leader at RSwitch was a good move. It was a pivotal moment that expanded my exposure and my expertise, not only on the compliance side and risk management, but also financial leadership. I had always wanted to become a banker since I was a child because bankers had always looked so successful to me. But being promoted to CFO and leading an international organisation has been a dream come true.
How have these significant moments influenced your leadership style?
When I was at the central bank as a supervisor and examiner, I used to lead a team, and we would go on site and come up with a good report, while working as a team. Being in regulatory roles for almost five years shaped my professional path in finance as I needed an awareness of risks and how to tackle them. This allowed me to focus on the stability and the growth of the organisation. I am keen on tackling tasks and making sure they are performed well. Being an auditor also helped shape my career.
What are some of the biggest setbacks you've experienced as a CFO and how have you navigated them?
Balancing financial stability with innovation. RSwitch is a fintech company. We are leading an interoperable system in the tech eco-system. We are aiming to be on top in terms of innovation. This is a payment systems operator. I have navigated this by prioritising efficiency, financial planning and strategic resource allocation. These have been the main pillars throughout tackling this challenge.
In your view, how does the business environment in Rwanda promote companies looking to innovate, like RSwitch?
We have what you can call a slogan or a model: cashless economy. And that cuts the cost of printing notes and facilitates the flow of money and transactions throughout the economy. It also leads to the economic growth of the country and promotes sustainability through low-cost transactions. So, innovation is a priority these days, not only in Rwanda but also globally.
How do you think the role of the CFO is evolving, and how can young professionals prepare for this?
The CFO role is becoming more strategic. It is moving beyond traditional finance to being a business partner to the CEO. It is important to embrace digital transformation, data analytics, and continuous learning to stay relevant. At RSwitch, we are exploring AI to create dashboards for data-driven decision-making. We also want to use it to visualise financial data and enhance operational efficiency. Young professionals should focus on continuous learning and developing ethical and strategic skills.
What does personal and professional success look like to you?
Success as a CFO is to ensure that you are driving financial stability and growth. Personally, it means achieving the work-life balance to support my career as well as my family without disruptions to either side, and I feel I have achieved that.
What do you like to do outside of work?
I like being a consultant. But one of the special things is that I enjoy spending quality time with my family and my kids. I also love exploring nature, and doing sports, like riding my bicycle, going to the gym, and swimming.
