Bank of Africa (Uganda)
Encyclopedia
Bank of Africa, whose complete name is Bank of Africa (Uganda) Limited, is a commercial bank
in Uganda
. The bank
is a member of the Bank of Africa Group
, a multinational, Pan African bank headquartered in Bamako
, Mali
, with presence in eleven (11) African countries, including Benin
, Burkina Faso
, Burundi
, Kenya
, Ivory Coast, Madagascar
, Mali
, Niger
, Senegal
, Tanzania
and Uganda
.
, BOA Uganda was a medium-sized financial services provider in Uganda
, with a total asset base in excess of US$112 million (UGX:223.7 billion). At that time, the shareholders' equity amounted to about US$13.1 million (UGX:26.2 billion).
{| style="font-size:95%;"
|-
| width="80%" align="center" | Bank of Africa Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank of Africa (Kenya)||51.01
|-
|2||Aureos East Africa Fund LLC.]||21.88
|-
|3||Netherlands Development Finance Company - FMO
||17.51
|-
|4||Central Holdings (Uganda) Limited||09.39
|-
|5||AFH-Ocean Indien||01.21
|-
| ||Total||100.0
|-
|}
Source:
was appointed Managing Director of Bank of Africa (Uganda). She became the first indigenous woman to rise to the level of Managing Director, of a commercial bank
, in the history of Uganda
. She is assisted by seven (7) other manager
s in supervising the day-to-day bank
activities.
. The bank's branches include the following locations:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
is a member of the Bank of Africa Group
Bank of Africa
Bank of Africa is a multinational bank in Africa. Its first office was founded in Bamako, Mali in 1982.-Branches and subsidiaries:Bank of Africa:*BOA Group*Banque de l'Habitat du Benin in Cotonou, Benin*BOA Burkina Faso*BOA Côte d'Ivoire...
, a multinational, Pan African bank headquartered in Bamako
Bamako
Bamako is the capital of Mali and its largest city with a population of 1.8 million . Currently, it is estimated to be the fastest growing city in Africa and sixth fastest in the world...
, Mali
Mali
Mali , officially the Republic of Mali , is a landlocked country in Western Africa. Mali borders Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. Its size is just over 1,240,000 km² with...
, with presence in eleven (11) African countries, including Benin
Benin
Benin , officially the Republic of Benin, is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north. Its small southern coastline on the Bight of Benin is where a majority of the population is located...
, Burkina Faso
Burkina Faso
Burkina Faso – also known by its short-form name Burkina – is a landlocked country in west Africa. It is surrounded by six countries: Mali to the north, Niger to the east, Benin to the southeast, Togo and Ghana to the south, and Côte d'Ivoire to the southwest.Its size is with an estimated...
, Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its capital is Bujumbura...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Ivory Coast, Madagascar
Madagascar
The Republic of Madagascar is an island country located in the Indian Ocean off the southeastern coast of Africa...
, Mali
Mali
Mali , officially the Republic of Mali , is a landlocked country in Western Africa. Mali borders Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. Its size is just over 1,240,000 km² with...
, Niger
Niger
Niger , officially named the Republic of Niger, is a landlocked country in Western Africa, named after the Niger River. It borders Nigeria and Benin to the south, Burkina Faso and Mali to the west, Algeria and Libya to the north and Chad to the east...
, Senegal
Senegal
Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
History
Bank of Africa (Uganda) started its operations in 1984 as Sembule Investment Bank. In 1996, Sembule Investment Bank was purchased by Banque Belgolaise and the Netherlands Development Finance Company (FMO). The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold their shares to a group of investors that included Bank of Africa (Kenya), Aureos East Africa Fund LLC. and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.Overview
The bank is involved in all aspects of commercial banking with emphasis on provision of banking services to multinational companies, mid-size local enterprises and small retail businesses. As of March 2010, Bank of Africa (Uganda) was the 12th largest commercial bank in Uganda, with an estimated asset valuation of US$112 million, representing approximately 3% of all bank assets in the country., BOA Uganda was a medium-sized financial services provider in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
, with a total asset base in excess of US$112 million (UGX:223.7 billion). At that time, the shareholders' equity amounted to about US$13.1 million (UGX:26.2 billion).
Ownership
The share ownership of Bank of Africa is summarized in the table below, as of December 2009:{| style="font-size:95%;"
|-
| width="80%" align="center" | Bank of Africa Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank of Africa (Kenya)||51.01
|-
|2||Aureos East Africa Fund LLC.]||21.88
|-
|3||Netherlands Development Finance Company - FMO
FMO
FMO has multiple meanings, including:* Fast Moving Object, a group of asteroids.* Fenna-Matthews-Olson complex, a water soluble chemical complex.* Field Marketing Organization, an entity that markets insurance and financial products....
||17.51
|-
|4||Central Holdings (Uganda) Limited||09.39
|-
|5||AFH-Ocean Indien||01.21
|-
| ||Total||100.0
|-
|}
Source:
- Bank of Africa Uganda: Annual Report 2009
Management team
John Caruthers is the Chairman of the bank. In December 2010, Ms. Edigold MondayEdigold Monday
Edigold Monday, a Ugandan accountant, businesswoman, bank executive and educator.-Overview:She is the current Managing Director and Chief Executive Officer, of Bank of Africa Uganda Limited. She was appointed to that position in December 2010. Ms...
was appointed Managing Director of Bank of Africa (Uganda). She became the first indigenous woman to rise to the level of Managing Director, of a commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
, in the history of Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. She is assisted by seven (7) other manager
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
s in supervising the day-to-day bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
activities.
Branch Network
As of December 2010, Bank of Africa has a network of twenty-one (21) branches in the central, eastern, northern and western parts of UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank's branches include the following locations:
- Arua Branch - 19 Avenue Road, AruaAruaArua is a town in Arua District, Northern Uganda. An important local commercial centre, it is a base for a large refugee population from Southern Sudan and the Democratic Republic of the Congo and is an aid distribution centre for those nations.-Location:...
- Entebbe Branch - 16 Kampala Road, EntebbeEntebbeEntebbe is a major town in Central Uganda. Located on a Lake Victoria peninsula, the town was at one time, the seat of government for the Protectorate of Uganda, prior to Independence in 1962...
- Equatoria Branch - 84-86 Ben Kiwanuka Street, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Fort Portal Branch - 14 Bwamba Road, Fort PortalFort PortalFort Portal is a town in Western Uganda. It is the seat of both Kabarole District and Toro Kingdom.-Location:Fort Portal is located approximately by road, west of Kampala, Uganda's capital and largest city, on an all-tarmac two-lane highway...
- Gulu Branch - 11 Awere Road, GuluGuluGulu is a city in Northern Uganda. It is the commercial and administrative centre of Gulu District. The city is located at 2˚46'48N 32˚18'00E, on the metre gauge railway from Tororo to Pakwach. Gulu is located approximately , by road, north of Kampala, Uganda's capital and largest city...
- Jinja Main Branch - 1 Main Street, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Jinja Clive Road Branch - 18 Clive Road East, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Kabalagala Branch - 559 Ggaba Road, KabalagalaKabalagalaKabalagala is a neighborhood in the city of Kampala, the capital city of Uganda. The name Kabalagala comes from a local type of pancake made from cassava flour and sweet bananas and is spiced with local peppers. Hawkers of this food variety would pull up to motorists as they were waiting to turn...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Head Office - 45 Jinja Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kampala Park Branch, 40-46 Ben Kiwanuka Street, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kampala Road Branch - 48 Kampala Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kobil Branch - Wankulukuku Road, Nalukolongo, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Lira Branch - 1A Balla Road, LiraLira, UgandaLira is a city in Northern Uganda. It is the main municipal, administrative and commercial centre of Lira District. Lira was the main metropolitan center of the now defunct Lango District ....
- Mbale Branch - 26 Cathedral Avenue, MbaleMbaleMbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
- Mbarara Branch - 1 Mbaguta Road, MbararaMbararaMbarara is a town in Western Uganda. It is the main municipal, administrative and commercial center of Mbarara District and the location of the district headquarters. It is also the largest urban centre in Western Uganda.-Location:...
- Mukono Branch - 13 Kampala Road, Mukono
- Nakivubo Road - Nabugabo Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Ndeeba Branch - 1024 Masaka Road, NdeebaNdeeba-Location:Ndeeba is located on the southwestern edge of the city of Kampala. It is bordered by Mengo to the north, Katwe to the northeast, Kibuye to the east, Makindye and Najjanankumbi to the southeast, Kabowa to the south, Mutundwe to the west and Lubaga to the northwest...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Ntinda Branch - 7 Nakawa Road, NtindaNtinda-Location:Ntinda is bordered by Kyambogo to the east, Nakawa to the south, Naguru to the west, Bukoto to the northwest, Kigoowa to the north and Kiwaatule to the northeast. This location is approximately , by road, northeast of Kampala's central business district...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Wandegeya Branch - 18 Bombo Road, WandegeyaWandegeyaWandegeya is a neighborhood within the city of Kampala, Uganda's capital and largest metropolitan area.The name is derived from the weaver birds, , which used to inhabit the area prior to the 1990s.-Location:...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...