Bank of Africa RDC

Equity : January 2010

A greenfield bank, BOA RDC will be offering commercial banking products & services to the local population & businesses, including credits, deposits & financial intermediation.

Amount

€ 1,466,000.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Financial inclusion
  • Food security & rural development

Beneficiary locations

Sub-Saharan Africa: Democratic Republic of Congo

Investment field

Financial Institutions

Activity

Commercial Bank

Organisation

Bank of Africa RDC

Domicile

DRC

More investments in

Bank of Africa RDC

  • Equity € 695,000.00 (2011)

BIO will invest USD 2 M in the creation of a greenfield bank, in co-investment with the Bank of Africa Group and with Proparco.

BOA RDC will be offering the complete range of commercial banking products and services to the local population and businesses, including credits, deposits and financial intermediation services. It will be positioned as an “all public” bank, even though the focus will initially be on the retail and corporate segments.

Development impacts

  • Local economic growth

    The focus is initially put on the retail, corporate and international segments in order to rapidly build a loan portfolio with a lower risk profile. The idea was to capture all the sizeable companies of the country and then downscale to the SME segment. The focus on the SME segment will however increase over time, along with the establishment of a significant local presence and the development of a more profound market knowledge.

  • Private sector consolidation/innovation

    BOA Group will support its DRC subsidiary in various key areas, through its functional departments at Group headquarters (communication and marketing, credit risk management, operational risk management, IT, internal audit, control and reporting, new product development, etc.).

    BIO investment should contribute to an increase in product quantity and quality offered to the local population and business

    BOA has an objective to expand with 3 agencies a year and have a country-wide presence (different from competitors!); financial sector is very underdeveloped in DR Congo; BOA RDC could potentially offer financial services to businesses operating in sensitive sectors such as transport, forestry and mining.

  • Financial inclusion

    will increase deposit and ambitious expansion plan in the country

    will implement Visa and Western Union

  • Food security & rural development

    Plan to expand to rural areas with BIO investment; credit provider to SMEs (in future); today mostly large corporates - deposit taking institution

View more of our investments in this region

Centre médical de la Communauté

Enterprises

Centre médical de la Communauté

  2,719,298.00

  Democratic Republic of Congo

  09/05/2016

  Debt

Bank of Africa RDC

Financial Institutions

Bank of Africa RDC

  695,000.00

  Democratic Republic of Congo

  26/05/2011

  Equity

AfricInvest Financial Inclusion Vehicle

Investment Companies & Funds

AfricInvest Financial Inclusion Vehicle

  10,000,000.00

  Morocco, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Zambia

  14/12/2017

  Equity

African Rivers Fund

Investment Companies & Funds

African Rivers Fund

  4,118,275.00

  Democratic Republic of Congo, Uganda

  02/02/2016

  Equity

Plantations et Huileries du Congo

Enterprises

Plantations et Huileries du Congo

  9,741,280.77

  Democratic Republic of Congo

  21/12/2015

  Debt

FPM - Fonds pour l'inclusion financière en DRC

Investment Companies & Funds

FPM - Fonds pour l'inclusion financière en DRC

  5,800,888.00

  Democratic Republic of Congo

  26/06/2014

  Equity

Global Broadband Solution

Enterprises

Global Broadband Solution

  700,000.00

  Democratic Republic of Congo

  29/05/2008

  Debt

Global Broadband Solution

Enterprises

Global Broadband Solution

  454,740.00

  Democratic Republic of Congo

  21/03/2013

  Debt

Global Broadband Solution

Enterprises

Global Broadband Solution

  23,000.00

  Democratic Republic of Congo

  01/09/2008

  Subsidy

Global Broadband Solution

Enterprises

Global Broadband Solution

  7,497.00

  Democratic Republic of Congo

  04/05/2012

  Subsidy