Compagnie Générale de Banque

Compagnie Générale de Banque (Cogebanque)

Type	Private
Industry	Financial Services
Founded	1999
Headquarters	Kigali, Rwanda
Key people	Jean Marie Karekezi, Chairman of the Board
Products	Loans, Checking, Savings, Investments, Debit Cards
Revenue	Aftertax: US$1.3 million (2007)[1]
Employees	200+

Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a commercial bank in Rwanda. The bank is one of the ten (10) licensed commercial banks in the Republic of Rwanda.

History

Cogebanque was established in July 1999 by forty-two (42) private Rwandan investors. At that time, the insurance company Compagnie Générale d'Assurance et de Reassurance (COGEAR), was the largest shareholder, with 34% ownership. In the beginning, the bank's emphasis was Small and Medium Enterprises (SMEs), agriculture and the service industries.^[2] In 2008, three new international investors paid US$6million for a 40% ownership in the bank. The new investors included:(a) ShoreCap International of Chicago, Illinois, USA; (b) the Belgian Investment Company for Developing Countries (BIO) and (c) AfricaInvest, an investment company based in Tunisia. These transactions, initiated in 2008, were concluded in early 2010. The original Rwandan investors maintain a 60% shareholding in the restructured bank.^[3]

Ownership

The bank's stock is owned by the following corporate entities and individual investors: ^[4]

Cogebanque Stock Ownership

Rank Name of Owner Percentage Ownership 1 ShoreCap International of Chicago, USA 13.333 2 BIO of Belgium 13.333 3 AfricaInvest of Tunisia 13.333 4 Private Investors from Rwanda 60.00 Total 100.00 Branch Network As of May 2008, Cogebanque had fourteen (14) branches, with seven (7) of them in the city of Kigali, and the other seven in the provinces.[5] Directors The Chairman of the Cogebanque's Board of Directors is Jean Marie Karekezi. Management Board The Managing Director of the bank is Bonaventure Niyibizi.[6] External links Overview of the Beginnings of Cogebanque See also List of banks in Rwanda Economy of Rwanda References ^ 2007 Aftertax Revenue 2007 ^ Early History of Cogebanque ^ Cogebanque Sells 40% Stake to New Investors ^ Shareholders in Cogebanque ^ Cogebanque Had 14 Branches in 2008 ^ Bonaventure Niyibizi is Managing Director of Cogebanque