Bank of Africa Uganda Limited

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Bank of Africa Uganda Limited
Private
Industry Financial services
Founded 1984
Headquarters Kampala, Uganda
Key people
John Caruthers,
chairman
Arthur Isiko,
managing director
Products Loans, savings, investments, debit cards, credit cards, mortgages
Revenue IncreaseAftertax:US$431,950+ (UGX:1.2 billion) (2014)
Total assets UGX:497.6 billion (2014)[1]
Number of employees
333 (2012)
Website Homepage

Bank of Africa Uganda Limited, also BOA Uganda, whose complete name is, is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the country's central bank and the national banking regulator.[2]

Overview[edit]

BOA Uganda 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 December 2014, BOA Uganda was a medium-sized financial services provider in Uganda, with a total asset base valued at about UGX:497.6 billion.[1] As of 31 December 2012, the shareholders' equity amounted to about US$22 million (UGX:55.6 billion).[3]

Bank of Africa Group[edit]

The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in fourteen African countries. The group also maintains an office in Paris, France.[4] As of December 2011, the group employed more than 4,500 people in about 340 offices, in 15 countries, servicing nearly 1.2 million bank accounts.[5]

History[edit]

BOA (Uganda) started its operations in 1984 as Sembule Investment Bank. In 1996, Sembule Investment Bank was purchased by Banque Belgolaise[6] and the Netherlands Development Finance Company. The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to a group of investors that included the Bank of Africa (Kenya),[7] Aureos East Africa Fund LLC,[8] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.[9]

Ownership[edit]

The share ownership of BOA (Uganda), as of 31 December 2014, is summarized in the table below:[10]

Bank of Africa Stock Ownership
Rank Name of Owner Percentage Ownership
1 Bank of Africa Kenya Limited 52.72
2 Africa Financial Holdings - Indian Ocean of Mauritius 23.70
3 Netherlands Development Finance Company - FMO 15.01
4 Central Holdings Uganda Limited 8.57
Total 100.0

Source:

  • Bank of Africa Uganda: Annual Report 2014

Management team[edit]

John Caruthers is the chairman of the bank. In December 2010, Edigold Monday was appointed managing director of the bank. She became the first indigenous woman to rise to the level of managing director of a commercial bank in the history of Uganda.[11] In April 2014, Monday resigned.[12] Arthur Isiko was appointed to replace her.[13]

Branch network[edit]

As of May 2015, the bank maintained a network of branches in all regions of the country. The bank's branches included the following locations, arranged alphabetically:[14]

  1. Arua Branch - 19 Avenue Road, Arua
  2. Bbira Branch - Mityana Road, Bbira, Wakiso District
  3. Business Centre - 9 Kittante Road, Kampala
  4. Clive Road Branch - 18 Clive Road East, Jinja
  5. Entebbe Branch - 16 Kampala Road, Entebbe
  6. Equatoria Branch - 84-86 Ben Kiwanuka Street, Kampala
  7. Fort Portal Branch - 14 Bwamba Road, Fort Portal
  8. Gulu Branch - 11 Awere Road, Gulu
  9. Hoima Branch - 13 Wright Road, Hoima
  10. Jinja Main Branch - 1 Main Street, Jinja
  11. Kabalagala Branch - 559 Ggaba Road, Kabalagala, Kampala
  12. Kalongo Branch - 16 Patongo Road Kalongo
  13. Kampala Road Branch - 48 Kampala Road, Kampala
  14. Katwe Branch - Muganzirwazza Shopping Mall, Muteesa I Road, Katwe, Kampala
  15. Kawempe Branch - 125 Bombo Road, Kawempe, Kampala
  16. Kololo Branch - Kisementi, 9 Cooper Road, Kololo, Kampala
  17. Kampala Road Branch - 48 Kampala Road, Kampala
  18. Lira Branch - Town View Hotel, 1A Balla Road, Lira
  19. Luzira Branch - 1329-1330 Port Bell Road, Luzira, Kampala
  20. Main Branch - 45 Jinja Road, Kampala
  21. Masaka Branch - Masaka[15]
  22. Mbale Branch - 26 Cathedral Avenue, Mbale
  23. Mbarara Branch - 1 Mbaguta Road, Mbarara
  24. Mukono Branch - 13 Kampala Road, Mukono
  25. Nakivubo Branch - Nabugabo Road, Kampala
  26. Nalukolongo Branch - Kobil Head Office, Wankulukuku Road, Nalukolongo, [lKampala
  27. Namasuba Branch - Freedom City Mall, 4010 Entebbe Road, Namasuba, Kampala
  28. Nansana Branch - 5390 Nansana Town Centre, Nansana
  29. Nateete Branch - 1-2 Old Masaka Road, Nateete, Kampala
  30. Ndeeba Branch - 1024 Masaka Road, Ndeeba
  31. Ntinda Branch - 7 Nakawa Road, Ntinda, Kampala
  32. Oasis Branch - Oasis Mall, 88-94 Yusuf Lule Road, Kampala
  33. Patongo Branch - 33 Dollo Road, Patongo
  34. Rubirizi Branch - Bamugaya House, Kasese Road, Rubirizi
  35. Rwenzori House Branch - Rwenzori House, 1 Lumumba Avenue, Nakasero, Kampala
  36. Taxi Park Branch - Mukwano Centre, 40-46 Ben Kiwanuka Street, Kampala
  37. Wandegeya Branch - KM Plaza, 18 Bombo Road, Wandegeya, Kampala

See also[edit]

References[edit]

  1. ^ a b Kulabako, Faridah (29 April 2015). "Uganda’s Banking Sector Back To Profitabilityb". New Vision (Kampala). Retrieved 29 April 2015. 
  2. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015. 
  3. ^ "Audited December 2012 Annual Financial Report" (PDF). Retrieved 2013-10-01. 
  4. ^ "List of Countries With BOA Presence". Thebftonline.com. 21 May 2012. Retrieved 18 December 2012. 
  5. ^ "Overview of Bank of Africa Group" (PDF). Retrieved 2012-12-18. 
  6. ^ "Welcome". Belgolaise. Retrieved 18 December 2012. 
  7. ^ "Bienvenue Sur Groupe Bank Of Afrika | Groupe Bank Of Afrika" (in French). Bank-of-africa.net. Retrieved 18 December 2012. 
  8. ^ Jacob Kholi; Managing Partner; Aureos West Africa. "Aureos Capital". Aureos.com. Retrieved 18 December 2012. 
  9. ^ Edigold Monday (31 December 2012). "Profile of Bank of Africa (Uganda)". Boauganda.com. Retrieved 29 May 2014. 
  10. ^ BOA Group (31 December 2014). "Shareholding In BOA Uganda In December 2014" (PDF). BOA Group. Retrieved 24 December 2015. 
  11. ^ Ssempijja, David (26 December 2010). "Uganda Gets Her First Local Woman Commercial Bank Managing Director". New Vision. Retrieved 29 May 2014. 
  12. ^ Ladu, Ismail Musa (15 April 2014). "Uganda's First Female Bank Managing Director Bows Out". Daily Monitor. Retrieved 16 April 2014. 
  13. ^ Kulabako, Faridah (28 April 2014). "Mobile Money Competition Stiffer As Bank Unveils Related Platform". Daily Monitor. Retrieved 5 May 2014. 
  14. ^ BOAU (31 December 2014). "Branch Network of Bank of Africa Uganda". Boauganda.com (BOAU). Retrieved 1 May 2015. 
  15. ^ Adengo, Jonathan (30 April 2015). "Bank of Africa Posts USh1.2 Billion Profit Up From USh6.7 Billion Loss In 2013". Daily Monitor (Kampala). Retrieved 1 May 2015. 

External links[edit]