Finance

Rwanda: Bank of Kigali to issue additional shares as of October 29

Friday, 19 October 2018 17:50

Bank of Kigali will issue new shares at CFA270 each, the bank announced in a communique published on October 19. The new issuance is aimed at boosting its equity with CFA60 billion ($67.81 million).

As of October 29, the bank will offer three new shares for each old ones owned in by shareholders, making it a total of 222.22 million.

These new shares will be listed on Rwanda and Nairobi stock exchanges starting from November 30.

Out of the total amount raised, between $10 million to $20 million will be used to develop a mobile banking platform for loans via mobile phones among other features.

Founded 51 years ago, Bank of Kigali generated a pre-tax profit of CFA22 billion ($25.04 million), in H1, 2018; an increase of 33% compared to the year on year performance.

On the same topic
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt. Highlights: ● Afreximbank to...
The credit line, 50% guaranteed by the EU, will expand access to finance for women-led and climate-resilient agricultural businesses in East and Southern...
BEAC introduces new USD transfer procedures from CFA franc accounts, effective July 22, 2025. Reform aims to streamline international payments and...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.