Bank of Africa RDC
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
Investment field
Financial Institutions
Activity
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
Investment Companies & Funds
African Rivers Fund IV
10,000,000.00
Angola, Democratic Republic of Congo, Uganda, Zambia
05/12/2024
Equity
