Bank of Kigali Plans to Raise $100m Next Year to Fund Expansion

 In news

Company will raise money through stock offering, possibly on exchange outside Rwanda, Chairman Marc Holtzman says in interview at annual general meeting in capital, Kigali.

* Funds will be used to expand bank’s insurance unit, technology, grow loan book;
* “In order to maintain the market share and expand our market position, we need to invest heavily”;
* BoK may announce further fund-raising plans in May;
* Mobile platform will be introduced next year;
* NOTE: Bank of Kigali is Rwanda’s biggest lender with 35% market share. Source: Bloomberg

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