Bank of Africa Rwanda
Bank of Rwanda
From Wikipedia, the free encyclopedia
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]
| 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 |
History
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
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
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
