Compagnie Générale de Banque

Compagnie Générale de Banque
Compagnie Générale de Banque (Cogebanque)
Type Private
Industry Financial Services
Founded 1999
Headquarters Kigali, Rwanda
Key people Jean Marie Karekezi, Chairman of the Board
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue increase Aftertax: US$1.3 million (2007)[1]
Employees 200+

Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a commercial bank in Rwanda. The bank is one of the ten (10) licensed commercial banks in the Republic of Rwanda.

Contents

History

Cogebanque was established in July 1999 by forty-two (42) private Rwandan investors. At that time, the insurance company Compagnie Générale d'Assurance et de Reassurance (COGEAR), was the largest shareholder, with 34% ownership. In the beginning, the bank's emphasis was Small and Medium Enterprises (SMEs), agriculture and the service industries.[2] In 2008, three new international investors paid US$6million for a 40% ownership in the bank. The new investors included:(a) ShoreCap International of Chicago, Illinois, USA; (b) the Belgian Investment Company for Developing Countries (BIO) and (c) AfricaInvest, an investment company based in Tunisia. These transactions, initiated in 2008, were concluded in early 2010. The original Rwandan investors maintain a 60% shareholding in the restructured bank.[3]

Ownership

The bank's stock is owned by the following corporate entities and individual investors: [4]

Cogebanque Stock Ownership
Rank Name of Owner Percentage Ownership
1 ShoreCap International of Chicago, USA 13.333
2 BIO of Belgium 13.333
3 AfricaInvest of Tunisia 13.333
4 Private Investors from Rwanda 60.00
Total 100.00

Branch Network

As of May 2008, Cogebanque had fourteen (14) branches, with seven (7) of them in the city of Kigali, and the other seven in the provinces.[5]

Directors

The Chairman of the Cogebanque's Board of Directors is Jean Marie Karekezi.

Management Board

The Managing Director of the bank is Bonaventure Niyibizi.[6]

External links

See also

References


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