Bank of Africa Rwanda Limited also BOA Rwanda, formerly known as Agaseke Bank, is a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with cor ...
in
Rwanda
Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...
. The bank is one of the licensed banks in the Republic of Rwanda. 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).
December 2012 Financial Data
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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. The bank was granted a banking license by the National Bank of Rwanda
The National Bank of Rwanda ( rw, Banki Nkuru Y'u Rwanda, french: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964. The current governor of the bank is John Rwangombwa.
Location
It is quartered at the N ...
, the national banking regulator, in 2011 and commenced commercial banking services in the same year.
On October 15, 2015, the Bank of Africa Group
Bank of Africa (BOA) is a Moroccan banking conglomerate headquartered in Casablanca, Morocco, with banking operations in Morocco and eighteen other African countries. Its main predecessor entities started in 1959 in Morocco and in 1982 in Mali. ...
announced its acquisition of a 90% stake in Agaseke Bank. This led to Agaske Bank changing its name to Bank of Africa Rwanda Limited and conversion to a commercial bank.
Ownership
The stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
of the bank is privately owned by institutional and individual investors. , the shareholding in the bank is as depicted in the table below:
Branches
As of August 2017, the bank maintained the following interlinked branches.
(1) Main Branch, Ground Floor, Chic Complex, Nyarugege, Kigali
Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwa ...
(2) Kayonza Branch (3) Gizozi Branch, Umukindo House, Kigali
Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwa ...
(4) Muhanga Branch (5) Rusizi Branch (6) Rubavu Branch (7) Musanze Branch (8) Huye Branch (9) Nyabugogo Branch (10) Remera Branch (10) Gikondo Branch (11) Kamironko Branch (12) Nyarugege Branch, KIC House, Kigali (12) Soras Outlet, Kakuyu Street, Kigali and (13) Kabuga Branch.
See also
* List of banks in Rwanda
This is a list of banks in Rwanda
; Commercial banks
# Guaranty Trust Bank (Rwanda) plc - commonly referred to as GTBank Rwanda
#Bank of Kigali
# I&M Bank (Rwanda) - Formerly Commercial Bank of Rwanda (BCR)
# Compagnie Générale de Banque (Co ...
* Economy of Rwanda
The economy of Rwanda has undergone rapid industrialisation due to a successful governmental policy. It has a mixed economy. Since the early-2000s, Rwanda has witnessed an economic boom, which improved the living standards of many Rwandans. The ...
* Bank of Africa Group
Bank of Africa (BOA) is a Moroccan banking conglomerate headquartered in Casablanca, Morocco, with banking operations in Morocco and eighteen other African countries. Its main predecessor entities started in 1959 in Morocco and in 1982 in Mali. ...
* Bank of Africa Kenya Limited
Bank of Africa Kenya Limited (BOA Kenya), is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.
Overview
BOA Kenya is a mid-tier bank ...
* Bank of Africa Uganda Limited
Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator.
Location
The headquarters and ...
* Bank of Africa Ghana Limited
Bank of Africa Ghana Limited, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator. the bank has 33 branches in 2 ...
References
External links
Moroccan investors gain access to Rwanda market through local firms
Website of Rwanda National Bank
{{Economy of Rwanda
Banks of Rwanda
Banks established in 2003
2011 establishments in Rwanda
Organisations based in Kigali
Economy of Kigali