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LOLC buys Unguka Bank in Rwanda

LOLC buys Unguka Bank in Rwanda

25 Sep 2023

LOLC Holdings PLC discloses that its sub-subsidiary LOLC Mauritius Holdings Limited, has acquired 90% of the ordinary voting shares of Unguka Bank PLC in Rwanda on 14 September.

LOLC Holdings PLC bought 46,612,489 shares of Unguka Bank PLC at 114.43 Rwandan franc per share. Accordingly, the total amount invested for the acquisition of these businesses is 5,333,934,000 Rwandan francs. This is approximately Rs.1.44 billion.

Unguka Bank PLC is a microfinance bank licensed by the National Bank of Rwanda. The Bank was founded in 2005 and is licenced to take deposits from clients and grant loans, as well as engage in other related financial services.


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