Bank of Africa Rwanda
| Type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2003 |
| Headquarters | Kigali, Rwanda |
| Products | Loans, checking accounts, savings, investments, debit cards |
| Total assets | US$14 million (2014)[1][2] |
Number of employees | 100+ (2014)[1] |
| Parent | Bank of Africa Group (90%) |
| Website | www |
Bank of Africa Rwanda Limited, also BOA Rwanda, formerly known as Agaseke Bank, is a commercial bank in Rwanda. It is one of the licensed banks in the Republic of Rwanda.[3] The bank is a growing financial services provider in Rwanda. As of December 2012, its total assets were valued at approximately US$14.6 million (RWF:9.2 billion).[4]
History
[edit]BOA Rwanda was formed in November 2003 as Centre Financier aux Entrepreneurs Agaseke (CFE SA Agaseke), with the aim of providing financial services to small and medium-sized businesses. On 14 December 2010, the shareholders adopted a resolution to convert CFE SA Agaseke to a microfinance bank, and adopted the name Agaseke Bank. It was granted a banking license by the National Bank of Rwanda, the national banking regulator, in 2011, and commenced commercial banking services in the same year.[5]
On October 15, 2015, the Bank of Africa Group announced its acquisition of a 90% stake in Agaseke Bank.[6] This led to Agaske Bank changing its name to Bank of Africa Rwanda Limited and converting to a commercial bank.[1]
Ownership
[edit]The stock of the bank is privately owned by institutional and individual investors. As of December 2015[update], the shareholding in the bank was as depicted in the table below:[6]
| Rank | Name of owner | Percentage ownership |
|---|---|---|
| 1 | Bank of Africa Group | 90.00 |
| 2 | Other retail investors | 10.00 |
| Total | 100.00 | |
Branches
[edit]As of August 2017, the bank maintained the following interlinked branches.[1][7]
- Main branch, ground floor, Chic Complex, Nyarugege, Kigali
- Kayonza branch
- Gizozi branch, Umukindo House, Kigali
- Muhanga branch
- Rusizi branch
- Rubavu branch
- Musanze branch
- Huye branch
- Nyabugogo branch
- Remera branch
- Gikondo branch
- Kamironko branch
- Nyarugege branch, KIC House, Kigali
- Soras Outlet, Kakuyu Street, Kigali
- Kabuga branch
See also
[edit]
References
[edit]- 1 2 3 4 Bizimungu, Julius (20 October 2015). "Bank of Africa acquires 90% stake in Agaseke Bank". The New Times (Rwanda). Kigali. Retrieved 3 August 2017.
- ↑ The New Times Rwanda (13 December 2016). "Bank Of Africa Pledges To Support Rwanda's Development Initiatives As It Launches Operations". Kigali: Promo Africa Rwanda Quoting The New Times (Rwanda). Archived from the original on 4 August 2017. Retrieved 3 August 2017.
- ↑ NBR (30 June 2017). "List of Licensed Banks As At June 2017" (PDF). Kigali: National Bank of Rwanda (NBR). Archived from the original (PDF) on 4 August 2017. Retrieved 3 August 2017.
- ↑ December 2012 Financial Data
- ↑ BOAR (3 August 2017). "Bank of Africa Rwanda: Who Are We?". Kigali: Bank of Africa Rwanda (BOAR). Archived from the original on 4 August 2017. Retrieved 3 August 2017.
- 1 2 BOAG (15 October 2015). "Press release: Bank of Africa Group - 15 October 2015" (PDF). Bamako: Bank of Africa Group (BOAG). Retrieved 3 August 2017.[permanent dead link]
- ↑ BOAR (3 August 2017). "List of branches of Bank of Africa Rwanda Limited". Kigali: Bank of Africa Rwanda Limited (BOAR). Archived from the original on 4 August 2017. Retrieved 3 August 2017.
External links
[edit]- Moroccan investors gain access to Rwanda market through local firms
- Website of Rwanda National Bank Archived 2018-02-01 at the Wayback Machine
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