Paul Arithi 
- Closure of Bank of Kigali(BoK)Representative Office in Nairobi;
The Central Bank of Kenya (CBK) announces the cancellation of the authority granted to the Bank of Kigali (BoK) to operate a Representative Office in Kenya under Section 43 of the Banking Act, effective April 2, 2024.
The voluntary termination of BoK’s presence in Kenya follows a strategic decision taken by the Bank of Kigali Group Plc (BoK’s parent company) to focus more on digital service delivery channels.CBK authorised the establishment of Bank of Kigali’s Representative Office in Kenya on February 12, 2013.
According to the Data from Central Bank of Kenya(CBK), the Rwandan government controls majority shareholding in the bank.
Bank of Kigali is also cross-listed on the Nairobi Securities Exchange (NSE)
BoK, headquartered in Kigali, is a banking institution founded in 1966, licensed and supervised by the National Bank of Rwanda under the Law governing the organisation of banking. The Government of Rwanda controls majority shareholding in the bank while the remaining portion is held between institutional and retail shareholders.Bank of Kigali is also cross listed on the Nairobi Securities Exchange.
Bank of Kigali(BoK) is a public private partnership involved the ownership of 50% of the ordinary share capital. The bank commenced its operations in 1967, serving as one of the then market leader in banking sector.
Following Fortis Bank strategy of withdrawing its operations in Africa in 2005, the Government of Rwanda acquired the Belgolaise share in 2007, thus increasing its direct and indirect shareholding in the Bank to 100%.
In compliance with revised laws relating to private companies in Rwanda, in 2011 the Bank changed its name from Bank of Kigali S.A to Bank of Kigali Limited and to BK Group PLC in 2017 with 3 subsidiary companies namely BK General Insurance, BK TecHouse and BK Capital.
