The Rwanda Social Security Board (RSSB) has reported a significant increase in its annual profit, which reached Rwf 361.7 billion as of June 2025, reflecting an average annual growth of 16.7% over the past five years.
The announcement was made by RSSB’s Director General, Regis Rugemanshuro, during a media briefing that provided a comprehensive review of the institution’s performance from 2021 to 2025, as well as projections for the 2024/2025 fiscal year.
Assets Double, Investment Return Jumps to 14.2%
According to Rugemanshuro, RSSB’s total assets doubled over the five-year period, reaching Rwf 3 trillion by June 2025. Return on investment also showed a dramatic increase—from just 1.4% in 2021 to 14.2% in June 2025, amounting to Rwf 361.7 billion, based on the Rwf 2.846 trillion invested by the institution.
“Over the past five years, RSSB transformed its investment strategy, focusing on long-term investments—especially in real estate—and ensuring every new investment undergoes rigorous evaluation,” said Rugemanshuro. “The results speak for themselves, and we intend to build on this momentum.”
Strategic Changes and Smart Divestments
He further explained that RSSB not only managed to turn around underperforming investments but also successfully exited mature investments at a profit.
“This challenges the perception that RSSB operates at a loss. The performance offers assurance that the members’ contributions are being managed wisely, benefiting not only the contributors but also the broader national economy through job creation and development.”
Expanding Healthcare Partnerships
The number of healthcare facilities partnering with RSSB through Mutuelle de Santé rose from 953 to 1,182 over the five-year period, while those under RAMA grew from 810 to 1,152.
Real Estate Still Lagging, but Progress is Underway
While real estate investments still represent only 10% of RSSB’s total investment portfolio, the institution acknowledges the need to improve project implementation efficiency.
“Although we’ve seen progress, delays in project initiation and completion remain a challenge—largely due to limited capacity in follow-up and project management,” Rugemanshuro said.
Key Projects: Heza Estate and New 5-Star Hotel
Among the major projects nearing completion is Heza Estate, where 70% of the housing units have already been reserved despite ongoing construction.
Looking ahead, RSSB plans to expand its investments on land near Kigali Golf Course, where it intends to build a new five-star hotel. Discussions are also underway with potential investors to develop additional facilities on the site.
A Clear Direction Forward
Despite acknowledging areas for improvement, Rugemanshuro emphasized that RSSB has made substantial progress over the past five years, contributing meaningfully to national development through well-placed investments and reforms.
