Bank of Kigali office in Kenya shut

Bank of Kigali.[File, Standard]

The Central Bank of Kenya has announced the closure of the Bank of Kigali representative office in Kenya, starting April 2, 2024.

The decision was arrived at following a meeting with Bank of Kigali Group Plc, the parent company, agreeing to lay their focus on digital service delivery. 

The bank will cease operation in Kenya effective April 2, CBK stated. 

Bank of Kigali’s office was first established in Kenya in February 2013. 

Headquartered in Kigali, it was founded in 1966 and has been operating legally.

According to CBK, the Rwandan government controls majority shareholding in the bank.

Bank of Kigali is also cross-listed on the Nairobi Securities Exchange (NSE).