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A Company Stronger Than Ever MARCH - APRIL 2018 ISSUE 85 www.hope-mag.com TELLING RWANDA’S STORY MAGAZINE First BK Group Financial Report shows a company stronger than ever In this Issue CONTRIBUTORS March-April 2018 Issue 85 HOPE TEAM Iradukunda Anime Rumanzi Abraham PUBLISHED BY HOPE HOLDINGS LTD COPYRIGHT 2013 Allan Migadde Keith Ntagozera Saul Butera ADVERTISING & GENERAL INQUIRIES Reserved by Hope Magazine, a monthly Shema Ignace Magazine published by HOPE HOLDINGS Bob Thuku Kobusingye Bonitah P.O. Box 6176 Kigali-Rwanda Sindayirwanya Isabelle LIMITED. All rights reserved. Erwin Winkler Manzi Joseph +250 788 524189 / 788 404138 Rebero Daniel The opinions expressed in the magazine Himbana Alexandre Mbanda Claude DESIGN & LAYOUT [email protected] are not necessarily those of the editors Ishimwe Yvonne Mucyo Rodrigue Dani K. www.hope-mag.com and publishers of Hope Magazine. ADVERTISERS CONTENTS MTN Rwanda 1 BPR ATlas Mara Group 2 Airtel Tigo Rwanda 3 Bourbon Coffee 4 Mobisol Limited 5 Davis and Shirtliff 8 14 BRALIRWA Limited 9 SERENA HOTEL Serena Hotels & Resorts 15 Airtel Rwanda 16-17 7 BANK OF KIGALI At 50 years young, BK is just entering its golden age UAP Group Rwanda 19 10 BK GROUP Financial Report shows Cogebanque Rwanda 22 21 a company stronger than ever Safintra Limited 23 MTN RWANDA 12 COGEBANQUE and cycling, Akagera Business Group 24-25 a partnership made in heaven Galaxy Hotel 26 14 KIGALI SERENA HOTEL staffs Pay tribute to Genocide victims Vision Fund Rwanda 27 18 UAP RWANDA holds commemoration KCB Bank Rwanda 29 discussions for 24th Kwibuka Engen Rwanda Limited 33 20 MTN RWANDA partners with The Court Boutique Hotel 35 12 32 RwandaOnline to promote Irembo COGEBANQUE ACCESS BANK self-service Sinotruk Rwanda Limited 39 21 MTN RWANDA launches MoMo Pay Herocean Enterprise Ltd. 40 to improve electronic payment Development Bank of Rwanda 41 28 KCB BANK commemorates with MTN Rwanda 43 donations to Muhazi Genocide Memorial and Avega Health Centre WAKA Fitness Group 45 36 30 KENYAN WOMEN Celebrate Women’s The Arts & Gimco Real Estate 46 CWNK Day with disadvantaged girls Sinotruk Rwanda Limited 47 38 SINOTRUK RWANDA 32 ACCESS BANK encourage women BK Techouse 48 to share ideas 6 HOPE MARCH-APRIL ISSUE 85 Editorial VISIT HOPE WEBSITE www.hope-mag.com EDITOR'S WORD At 50 years young, COVER First BK Group Financial Report shows a company BK is just entering stronger than ever its golden age HIGHLIGHTS 2017 has been a historic year for Bank of Kigali, and for more “In order to cherish the Rwandan identity, we should reason than one. In the first place, the financial services company promote unity and reconciliation... “We have an obligation celebrated its Golden Jubilee, and that in itself is no mean feat, to continue protecting our peaceful country and sustain especially given Rwanda’s turbulent history during those 50 years. achievements already attained by our people... "We should root out genocide ideologies to not let this tragedy happen again.., “This is a new history Rwanda is building, we have to pass it onto our descendants and ndeed, in the early years of BK, the The bank registered a 12.5% increase of the younger generation... political environment in the country its net income, not least thanks to the fact was for from stable, and shortly after that it still has a lot of appeal, as evidenced UAP RWANDA 18 the bank celebrated its 25 years , by an increase in both its retail customers Rwanda went through its darkest days and corporate clients. Iwith the 1994 Genocide against the Tutsis. The second reason why 2017 was a special Yet not only did BK get back to its year for Bank of Kigali is that it branched feet rapidly, as one of only a handful out into other sectors. Indeed, the 2017 operational banks in the second half of financial report was the first report of the the 1990s, it played a pivotal role in helping BK Group, which consists of Bank of Kigali, other companies to get going and provided BK General Insurance, and BK TechHouse. a safe haven for the many Rwandans who In the first place, this is reassuring for the returned to the country, willing to invest. company’s shareholders, as shocks in one Thus, BK played a significant role in sector (just remember the global financial the post-Genocide reconstruction and crisis of 2008) can be absorbed by the kickstarting of the economy. 32 other companies in the group. KCB BANK RWANDA And once it became clear that Rwanda wasn’t the failed state that many Secondly, it allows each of the companies international observers feared it would to offer more comprehensive services than 34 for a mouth- watering experience RIDERS LOUNGE become, but instead nothing short of they would be able to do on their own. For instance, BK TecHouse has developed the 36 CWNK holds ‘Ishyaka’ fundraising gala dinner an economic miracle thanks to the government’s sound policies, BK faced Urubuto school management system, the 38 SINOTRUK RWANDA bringing superior Chinese the challenge of cutthroat competition in most comprehensive version of which also truck technology to the heart of Africa the financial sector due to regional and comes with an advantageous insurance international banks flocking to the market. and bank accounts offer. 42 MTN RWANDA STAFF remember Genocide victims in Nyarubuye Yet BK weathered the storm, and as its So it is clear that while Bank of Kigali has every reason to be satisfied about the past 44 YEGOMOTO commemorates Genocide financial report for 2017 shows, has been more than able to hold its own against the half century, it seems that the company’s with visit to a moto driver/survivor bigger multinational competitors. golden age is only just beginning. Hope Magazine assume no liability for error or omissions in this Erwin Winkler publication. All Advertisements are taken in good faith, opinions and views contained herein are not necessarily those of the Publisher. All copyrights and trademarks are recognized. No We appreciate your feedback. Please keep sending part of this publication or contents thereof may be reproduced, more on [email protected] or visit www.hope-mag.com, stored in retrieval system or transmitted in any form without to post your comment on any published story. written permission by Hope Magazine. Exemption is hereby We shall pick it and respond to you asap! granted for extracts with the purpose of fair review. © 2013 www.hope-mag.com 7 Banking BANK OF KIGALI SPECIAL FEATURE First BK Group Financial Report shows a company stronger than ever “2017 was an important milestone for the bank, f The BK Group has marking its 50th anniversary,” said Diane Karusisi, presented its report for CEO of the BK Group. “This was ushered in with the 2017 financial year, great celebration as the bank grew into a financial during which it reported group which includes an insurance arm, BK General Insurance, and an innovative arm, BK a net income of Rwf 23.3 TechHouse. billion, an increase of 12.5% year-on-year (Y-o-Y) We are very pleased to publish our results indicating growth performance across all key metrics. This has been another great year for the his was the debut report of BK as a group, bank: our net income grew by 12% Y-o-Y and total as it transformed into a broad group of assets by 13.9%. We managed to grow our net loan companies including BK bank, BK General Diane Karusisi CEO of the BK Group book to Rwf 471.7 billion, a 22.3% increase Y-o-Y.” Insurance and BK TecHouse. The report showed that the total assets Increased by By 31st December 2017, the bank served over T13.9% Y-o-Y to Rwf 727.2 billion, and net loans increase of 34.6% Y-o-Y, significantly impacted 257,000 retail customers and 24,000 corporate and advances increased by 22.3% Y-o-Y to Rwf by an increase in non-interest income. Net fees clients, compared to the previous year when they 471.7 billion. and commission income increased by 23.8% served 244,000 retail customers and 23,000 Y-o-Y to Rwf 16.6 billion, and the total operating corporate clients. Retail clients’ balances and The group realised a net Interest income increase income was Rwf 92.5 billion, up 20.2% Y-o-Y. Total deposits reached Rwf 113.7 billion while the of 14.7% Y-o-Y to Rwf 63.9 billion, while net non- operating costs also increased by 14.6% Y-o-Y corporate clients’ balances and deposits were interest income amounted to Rwf 28.6 billion, an to Rwf 41.8 billion. Rwf 240.8 billion. L-R Regis Rugemanshuro CEO BK TecHouse Alex Bahizi CEO BK Insurance, Diane Karusisi CEO BK Group Desire Rumanyika Chief Operating Officer BK Vincent Gatete Chief Commercial Officer BK 10 HOPE MARCH-APRIL ISSUE 85 BANK OF KIGALI SPECIAL FEATURE Popularising insurance and “The need to be incurred has seen us come As for that banking arm of the group, its sight is up with affordable policies for all and this firmly set on the future with more inclusivity and tech solutions ensures our mutual consistent growth and the move towards a cashless economy with mobile BK General Insurance achieved Rwf 4.5b worth benefit with our clients” said Alex Bahizi, BK banking services soon to be launched. of premiums with only Rwf 500m going to settling General Insurance’s Managing Director. claims which represents 29% of the whole.
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