The Bank of Kigali Group Plc Head of Board of Directors, Mark Holtzman has revealed that they intend to cross list the company on the Nairobi Securities Exchange.
Holtzman was speaking on Friday during an annual shareholders’ general meeting of Bank of Kigali.
“We intend to cross-list BK Group plc on the Nairobi Securities Exchange official list, the first Rwandan Company to go on the international Market” Holtzman said.
He said that based on bank’s functioning and intensified use of ICT in their operations; they should work towards changes in customer treatment and shareholders.
“For us to continue to lead, we decided to raise our initial investment to between $60 and $70 million in the second term of the financial year both on local and international market,” he said.
After listing to the Nairobi Securities Exchange, Bank of Kigali will be the first Rwandan company to go on the international market.
Holtzman said that the move is in the interest of shareholders as the Kenyan market is very rich, but do not invest in Rwandan market.
He said that once listed, they will help the development of local market.
BK Group Plc, Chief Executive Officer, Diane Karusisi pledged continued development.
“We are proud to be the leading financial institution in Rwanda, be in depositing, providing loans for big projects, tax payment and profitability. Last year, BK earned Rwf23.3 billion of profit,” she explained.
In the meeting, shareholders adopted the annual report and audited financial reports of the year ended 31st December 2017