BPR shareholders to lose stake

BPR shareholders to lose stake

Thousands of Shareholders in Banque Populaire du Rwanda (BPR) are to lose their shares in the Bank if they don’t register by this month’s deadline of July 18. Ephraim Turahirwa, the BPR chief executive officer said there are 590,292 shareholders as per the lender’s articles of association, “most of whom have ‘unknowingly’ owned shares in the bank”. The bank started as co-operatives in 1975, and transformed to a commercial bank in 2008. “Some of the shareholders died during the 1994 Genocide against the Tutsi, others due to natural causes. Therefore, there is a large number of people out there with shares in BPR, but are not aware of this fact,” Turahirwa stated. He said many…

Rubavu:  amabanki aratungwa agatoki mu kutorohereza abayagana

Abakorana n’amabanki mu karere ka Rubavu banenga imikoranire

Bamwe mu bagana amabanki mu karere ka Rubavu bavuga ko atabafasha kubona inguzanyo mu gihe cyihuse bigatuma bidindiza imishinga yabo. Mu nama yahuje abanyamabanki, abikorera n’ubuyobozi bw’akarere ka Rubavu tariki ya 17/6/2015, bamwe mubikorera bagaragaje ikibazo cyo gutinza guhabwa inguzanyo bamwe bavuga ko niyo barangije guhabwa inguzanyo badahabwa ibyangombwa baba batanze kugira ngo bahabwe inguzanyo. Bazimaziki Pierre Damien umuyobozi mu rwego rw’abikorera PSF mu karere ka Rubavu, avuga ko hari ibibazo abikorera mu karere ka Rubavu bahura nabyo bijyanye no gutinzwa guhabwa inguzanyo, kuba inyungu bakwa ku nguzanyo baka iri hejuru. Bazimaziki, avuga ko Banki ya Kigali umwaka wa 2014 yatangaje ko yungutse amafaranga agera kuri miriyari y’amafaranga y’u Rwanda, nyamara abayigana bavuga ko bakwa…

Eco bank group records U$ 5.82 million in profits

Eco bank group records U$ 5.82 million in profits

The Eco Bank group has recorded a profit worth U$ 5.82 million for the year 2014, an outlook that   shows a resurgent bank that is able to bolster access to finance across borders on the continent. By the end of December 2014, the pan African bank group that also operates in Rwanda registered US$24.2 billion in total assets and US$2.7 billion in total equity. Accordingly, of the total profit U$ 0.87 million was transferred to special reserves while U$ 4.85 million to retained earnings. “Our accounts for FY 2014 have shown a resurgent Ecobank, which enjoys the confidence of all its stakeholders. We can expect similar positive performance for 2015,” said Emmanuel Ikazoboh, Ecobank Group…

Master card enters Rwandan market

Master card enters Rwandan market

Cogebanque has become the first bank in the country to issue the internationally acclaimed master card in a move seen as part of the Bank’s efforts to expand its clientele base and products variety. Four new master cards were set to be issued by the bank as of yesterday and thus will enable tourists and foreign investors to go cashless a move promoted by the economy. Speaking at the launch of the cards at the company headquarters, Flory Rukokora, the head of electronic banking at Cogebanque noted that the company aims to give consumers variety regarding their choices. “With the launch of these four cards our target aims to give consumers in the country more…

Eco Bank Group gets new CEO

Ade Ayeyemi will be new CEO to Eco Bank Group

The Eco bank Group, A pan African bank has received a new Chief Executive Officer-CEO, statement from the Bank that operates in36 countries including Rwanda has   stated. Ade Ayeyemi, 52 who   has been Chief Executive Officer of Citigroup’s sub-Saharan Africa division based in Johannesburg, South Africa will replace Albert Essien who has been with the bank   for the last 25 years. Ayeyemi comes with a vast expertise  in banking  mainly  Pan  African banking  perspective  that is seen to help  Econ  Bankto  harness its  portfolio  within the continent. “We are delighted to have secured Ade as the person to lead Ecobank through the next phase of its development and beyond as a world-class pan-African bank,” said…

Cogebanque supports to raise funds for the needy

Cogebanque supports to raise funds for the needy

One of the country’s commercial banks ‘Cogebanque’ has   extended its support towards an initiative aimed at raising funds to support the needy in the country. Moustafa OUEZEKHTI, Managing  Director  of   Cogebanque  says that  the support will help  in stirring  up the   spirit of  Rwandans  supporting their fellow  Rwandans as part of  boosting  home grown  solutions. The drive  dubbed International   food Fair  in its tenth year  is organized  by   Africa International  club  and is  composed  of  diplomats  and  envoys working  in the country. “it’s us  Rwandans   who are supposed to raise  funds to support the needy  first  before we   look for  foreign  donations,”   he said  during the   food  fair fundraising  drive at  the  Dutch  residence in …

Banks extend loans to farmers through warehouse receipt

Banks   have started   extending credit to farmers through the warehouse receipt system, thanks to the partnership   between   East African commodity Exchange-EAX and commercial Banks. Ecobank   and Urwego Opportunity  Bank which  are among the four  banks that  penned  the  agreement  last year  have already   extended  funds  up to 70 percent  to   maize  cooperatives whose   produce is  under the  exchange’s  warehouse. These banks have agreed to provide financing to EAX members because of its unique warehousing model,” said Alfa Kadri, the commodity Exchange’s chief executive Officer. He   adds, “This model offers a guarantee of both quality and quantity of deposits through its globally recognized and respected Collateral Manager.” The arrangement is aimed helping farmers to access credit…

Gatete named Africa Finance Minister of the year

Rwanda Minister for Finance Claver Gatete

Rwanda’s Minister for Finance and Economic Planning Claver Gatete has been recognized as the Finance Minister of the year at the African Bankers’ Awards 2015. The 9th edition of the Awards took Place in Abidjan, Ivory Coast on the sidelines of the ongoing African Development Bank Annual Meetings.The Finance Minister of the Year award goes to the African Finance Minister who has carried out prudent macroeconomic policies and, through reforms of his actions, has shown skills and dexterity to create the conditions of an appealing investment climate. In his acceptance speech Minister Claver Gatete said:   “I am really humbled that the committee decided to award this trophy to me this year. I consider this…

Experts urge banks to ease requirements to finance more SMEs

Rwanda bank

With over 100,000 Small and Medium enterprises-SMEs across the country with bankable businesses, banks, experts advise  should  ease their requirements to  increase credit going to   the  country’s fastest growing sub sector. Despite the recent efforts to bolster credit flow SMEsbanks stilldemand requirements that most SMEs due to their nature of operation (startup stages) cannot manage. “While it is a fact that the banks must conduct due diligence in their lending and be risk averse, there needs to be fresh thinking around the lending policy,” said Sam Kebongo, Project Management and Entrepreneurship Development Consultant The rethinking according to experts would go along   commercial banks understanding the structure of SMEwhile   taking a step to educate their clients  …

WASAC-COGEBANQUE : Vers un nouveau système électronique de payement des factures de l’eau

Les cadres de WASAC et de la COGEBANQUE lors de la signature de cet accord

Water and Sanitation Corporation (WASAC), chargé de l’Eau et Assainissement au Rwanda, a signé un accord avec la Compagnie Générale de Banque (Cogebanque), pour l’introduction d’un nouveau système automatisé de facturation pour leurs clients. Cette banque locale qui ne cesse de se distinguer est en train d’ériger son siège au cœur du centre-ville de Kigali, un immeuble de plus de 7 étages. « Nous ne Voulons pas voir nos clients faire la queue pour payer  les factures de l’eau. Voilà pourquoi nous avons établi un partenariat avec  la Cogebanque pour faciliter les Rwandais à accéder aux services de paiement », a fait savoir Lucien Ruterana, Directeur Commercial de WASAC. Quant au Directeur du Développement des Affaires au…