About us

BANK OF AFRICA-UGANDA Ltd is a member of the BANK OF AFRICA Group, which is an International and Pan-African bank with a strong presence in Francophone Africa.

The Bank started its operations in 1984 and was bought by Banque Belgolaise and the Netherlands Development Finance Company (FMO) in 1996. In October 2006, the Bank joined the BANK OF AFRICA Group following the transfer of the Belgolaise shareholding to BANK OF AFRICA – KENYA, Aureos East Africa Fund LLC and Central Holdings Ltd. The Netherlands Development Finance Company (FMO) continues to retain its interest in the ownership of the Bank. Over the years, we have increased our footprint in Uganda, catering for the Retail, SME and Corporate market segments.

Ownership
BANK OF AFRICA-KENYA Ltd is part of the BANK OF AFRICA Group, with total assets of over USD1.52billion. The Group, whose history goes back to Mali in 1982, now operates through a network of commercial banks in 11 countries; 6 in the West African Economic and Monetary Union (WAEMU), Madagascar, Burundi, Kenya and Uganda, under the common name BANK OF AFRICA. The Group is equally active in the fields of insurance, mortgage, financial leasing and stock brokerage. BANK OF AFRICA has close relationships with PROPARCO, a subsidiary of Agence Francaise de Developpement, FMO and, with the French bank, NATEXIS Banques Populaires, who are all shareholders of the BANK OF AFRICA Group.

AUREOS East Africa Fund LLC (AEAF) is a USD40m private equity fund registered in Mauritius whose shareholders include the CDC Group plc, NORFUND, European Investment Bank, IFC, SECO, and FMO, among others. AEAF actively seeks to invest in and work with robust Small and Medium sized enterprises with a view to supporting their expansion ambitions. The Fund has invested in a number of companies in Kenya and Tanzania and is now focused on expanding its activities in Uganda with an especial interest in building pan-East African businesses.

FMO is a triple A-rated Development Bank, which supports the private sector in developing countries.
Within the financial sector, FMO focuses mainly on the provision of services to small and medium-sized enterprises by supporting young and pan-African financial institutions with equity stakes and local currency funding, mobilizing risk capital for SMEs, stimulating SME financing by larger, general banks; and mobilizing local financial means, such as savings and investments by local institutional investors.

Central Holdings Ltd on the other hand, is part of a large, well-run local manufacturing and investment property owning group whose owners have had intense knowledge of the bank’s operations, spanning many years.