Banque Commerciale du Rwanda SA, Rwanda
Greater access to financial services for poor entrepreneurs

Banque Commerciale du Rwanda (BCR) is a commercial bank, with its head office based in Kigali. Established in 1963, it was state-owned until 2004 when Actis acquired an 80% stake ownership. The Rwandan government retains a minority stake.

Banque Commerciale du Rwanda has ten branches and employs 343 staff. In 2006 and 2007, it opened a number of sub-branches in rural areas, serving parts of the population that had previously not had access to banking services. It has introduced mobile banking vans to reach remote villages, and deposit accounts with no minimum deposit level, to further reach and serve the needs of previously unbanked Rwandans.

Banque Commerciale du Rwanda has also introduced new banking products such as leasing and retail mortgages. This has helped companies and individuals gain access to vital financial services, to which they previously had no access. In 2008, the company helped to develop the capital markets in Rwanda by being the first to issue a corporate bond on the international market.

BCR’s introduction of mobile banking services and other new services has extended access to finance for business development in Rwanda and increases the number of available options for promising businesses, helping the economy to grow and lifting the population out of poverty.

The bank actively supports the charity sector by funding hospital equipment and supporting widows, orphans and other survivors of the 1994 genocide.

Fund manager Actis worked with Banque Commericale du Rwanda to improve corporate governance, staff training and internal controls. The bank has implemented Actis’ business principles for responsible investment in its credit policy. Actis also helped the bank to develop an anti-money laundering policy, and to recruit staff with the right skills.