Bank of Africa RDC

Equity : May 2011

BOA RDC is a commercial bank, part of the Bank of Africa Group.

Amount

€ 695,000.00

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 € 1,466,000.00 (2010)

The USD 1 M capital increase is aimed at countering the loss booked in the first year of operation, and to develop the agency network.

BOA DRC belongs to the Group Bank of Africa and as such, positions itself as a universal commercial bank collecting deposits, granting credits to various types of clients (retail, SME, Corporate, institutional clients, international organisations ...) and offering different types of financial services. It is an “all public” bank, even though 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. Once all the sizeable companies of the country have been approached, BOA DRC will focus on the SMEs.

As 2010 was the first year of operation, the direction was more focused on the establishment of the bank (internal organization, recruitments, search for agency locations ...) than on commercial actions.

The development of the retail clientele will however really start once the bank will be able to offer an extended range of services and products supported by marketing campaigns. All the products (Web banking, Visa, Western Union, debit cards, loan & product packages ...) will be made available as from April – June 2011.

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.

  • Private sector consolidation/innovation

    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; financial sector is very underdeveloped in DR Congo; expansion strategy very ambitious compared to competitors; In April 2011, the 4 first agencies were opened: 3 in Kinshasa and one in Goma

    Sector is dominated by 5 banks; BoA aims to reach 5% in 2014

  • Financial inclusion

    BoA is deposit taking, aims to increase deposits

    Will implement Visa and Western Union

  • Food security & rural development

    Plan to expand to rural areas with BIO investment

View more of our investments in this region

TowerCo of Africa

Infrastructure

TowerCo of Africa

12,000,000.00

  Uganda

  09/01/2024

  Debt

SIMA Commercial & Industrial Solar Green Bond

Infrastructure

SIMA Commercial & Industrial Solar Green Bond

10,000,000.00

  Kenya, Nigeria, South Africa

  29/12/2023

  Debt

ACEP Group

Financial Institutions

ACEP Group

 4,824.00

  Niger

  28/11/2023

  Subsidy

Alterfin

Investment Companies & Funds

Alterfin

5,000,000.00

  23/10/2023

  Debt

EA Foods Ltd

Enterprises

EA Foods Ltd

 10,448.00

  Tanzania

  09/10/2023

  Subsidy

Poa! Internet

Enterprises

Poa! Internet

13,543.00

  Kenya

  24/08/2023

  Subsidy

Gebana Burkina Faso

Enterprises

Gebana Burkina Faso

 3,000,000.00

  Burkina Faso

  20/07/2023

  Debt

ASA Tanzania

Financial Institutions

ASA Tanzania

7,000,000.00

  Tanzania

  19/07/2023

  Debt

Alterfin

Investment Companies & Funds

Alterfin

 21,500.00

  11/07/2023

  Subsidy