Bank of Africa Uganda Limited

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Bank of Africa Uganda Limited
Industry Financial services
Founded 1984; 34 years ago (1984)
Headquarters 45 Jinja Road, Kampala, Uganda
Key people
John Caruthers
Arthur Isiko
Managing Director
Products Loans, savings, investments, debit cards, credit cards, mortgages
Revenue IncreaseAftertax:UGX:12.143 million) (2016)[1]
Total assets UGX:688.56 billion (2016)[1]
Number of employees
400+ (2018)[2]
Website Homepage

Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator.[3]


The headquarters and main branch of Bank of Africa Uganda Limited, are located at 45 Jinja Road, in the central business district of Kampala, Uganda's capital and largest city.[1] The geographical coordinates of the bank's headquarters are: 0°18'56.0"N, 32°35'32.0"E (Latitude:0.315556; Longitude:32.592222).[4]


BOA Uganda is involved in all aspects of commercial banking although its focus is on providing banking services to multinational companies, mid-size local enterprises, and small retail businesses. As of December 2016, BOA Uganda was a medium-sized financial services provider, with total assets of UGX:688.56 billion (approximately US$186 million), with shareholders' equity of UGX:96.53 billion (approximately US$26.5 million).[1]

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 thirty-one countries. The group also maintains an office in Paris, France. As of June 2015, the group employed more than 12,500 people in more than 1,200 branches, servicing more than 4.5 million customers, with a total asset base in excess of €23.8 billion.[5]


BOA Uganda started its operations in 1984 as Sembule Investment Bank (SIB). In 1996, SIB was purchased by Banque Belgolaise and the Netherlands Development Finance Company. The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to investors that included the Bank of Africa (Kenya),[6] Aureos East Africa Fund LLC,[7] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.[2]


The share ownership of BOA Uganda as of 31 December 2016 was as illustrated in the table below:[1]

Bank of Africa Stock Ownership
Rank Name of Owner Percentage Ownership
1 Bank of Africa Kenya Limited 43.24
2 Africa Financial Holdings-Indian Ocean of Mauritius 37.96
3 Netherlands Development Finance Company - FMO 11.04
4 Central Holdings Uganda Limited 7.76
Total 100.00


  • Bank of Africa Uganda: Annual Report 2016


The bank is supervised by an eight-person board of directors, chaired by John Caruthers, a non-executive board member.[1]

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 this level at a Ugandan commercial bank.[8] In April 2014, Monday resigned.[9] Arthur Isiko was appointed to replace her.[10]

Branch network[edit]

As of December 2016, the bank maintained branches in all regions of the country, including at the following locations:[1]

  1. Main Branch: 45 Jinja Road, Kampala
  2. Equatorial Branch: 84/86 Ben Kiwanuka Street, Kampala
  3. Ndeeba Branch: 1024 Masaka Road, Ndeeba
  4. Taxi Park Branch: Mukwano Centre, 40-46 Ben Kiwanuka Street, Kampala
  5. Kampala Road Branch: 48 Kampala Road, Kampala
  6. Ntinda Branch: 49 Ntinda Road, Ntinda, Kampala
  7. Wandegeya Branch: KM Plaza, 85 Bombo Road, Wandegeya, Kampala
  8. Entebbe Branch: 16 Kampala Road, Entebbe
  9. Nakivubo Branch: 15 Nakivubo Road, Kampala
  10. Mukono Branch: 13 Kampala Road, Mukono
  11. Kabalagala Branch: 559 Ggaba Road, Kabalagala, Kampala
  12. Oasis Branch: Oasis Mall, 88-94 Yusuf Lule Road, Kampala
  13. Jinja Main Branch: 1 Main Street, Jinja
  14. Clive Road Branch: 18 Clive Road East, Jinja
  15. Arua Branch: 19 Avenue Road, Arua
  16. Lira Branch: 1A Balla Road, Lira
  17. Mbarara Branch: 1 Mbaguta Road, Mbarara
  18. Mbale Branch: 26 Cathedral Avenue, Mbale
  19. Fort Portal Branch: 14 Bwamba Road, Fort Portal
  20. Gulu Branch: 11 Awere Road, Gulu
  21. Kololo Branch: 9 Cooper Road, Kisementi, Kololo, Kampala
  22. Kawempe Branch: 125 Bombo Road, Kawempe, Kampala
  23. Nansana Branch: 5390 Nansana Town Centre, Nansana
  24. Luzira Branch: 1329/1330 Port Bell Road, Luzira, Kampala
  25. Hoima Branch: 13 Wright Road, Hoima
  26. Nateete Branch: 1-2 Old Masaka Road, Nateete, Kampala
  27. Patongo Branch - 33 Dollo Road, Patongo
  28. Bbira Mini Branch: 2731 Mityana Road, Bbira, Wakiso District
  29. Namasuba Branch: Freedom City Mall, 4010 Entebbe Road, Namasuba, Kampala
  30. Kalongo Mini Branch: 16 Patongo Road Kalongo
  31. Business Centre - 9 Kittante Road, Kampala
  32. Rwenzori Mini Branch: Rwenzori House, 1 Lumumba Avenue, Nakasero, Kampala
  33. Masaka Branch: 7 Birch Avenue, Masaka[11]
  34. Rubirizi Branch: Mbarara-Kasese Highway, Rubirizi.

In addition to the brick-and-mortar branches, the bank has a mobile banking vehicle covering nine districts and key trading centres in the districts of Lira, Pader, Oyam, Lira, Kole, Apac, Dokolo, Kaberamaido, Alebtong, and Otuke.[1]

See also[edit]


  1. ^ a b c d e f g h Bank of Africa Uganda (7 March 2017). "Bank of Africa Uganda Limited: Financial Statements For The Year Ended 31 December 2016" (PDF). Kampala: Bank of Africa Uganda. Retrieved 24 May 2018. 
  2. ^ a b Isiko, Arthur (24 May 2018). "About Bank of Africa Uganda Limited". Kampala: Bank of Africa Uganda. Retrieved 24 May 2018. 
  3. ^ Bank of Uganda (30 March 2017). "List of licensed Commercial Banks as at 31 March 2017" (PDF). Kampala: Bank of Uganda. Retrieved 24 May 2018. 
  4. ^ Google (24 May 2018). "Location of the headquarters of Bank of Africa Uganda Limited" (Map). Google Maps. Google. Retrieved 24 May 2018. 
  5. ^ The European Staff (9 March 2016). "BMCE Bank of Africa: Working for A Continent". London: The European. Retrieved 24 May 2018. 
  6. ^ Belgolaise (23 October 2006). "Chronology of disposal of banking activities". Brussels: Belgolaise. Retrieved 24 May 2018. 
  7. ^ Jacob Kholi; Managing Partner; Aureos West Africa. "Aureos Capital". Retrieved 18 December 2012. 
  8. ^ Ssempijja, David (26 December 2010). "Uganda Gets Her First Local Woman Commercial Bank Managing Director". New Vision. Retrieved 29 May 2014. 
  9. ^ Ladu, Ismail Musa (15 April 2014). "Uganda's First Female Bank Managing Director Bows Out". Daily Monitor. Retrieved 16 April 2014. 
  10. ^ Kulabako, Faridah (28 April 2014). "Mobile Money Competition Stiffer As Bank Unveils Related Platform". Daily Monitor. Retrieved 5 May 2014. 
  11. ^ 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]

Coordinates: 00°18′56″N 32°35′32″E / 0.31556°N 32.59222°E / 0.31556; 32.59222