Case study

BCR is a retail bank based in Kigali, Rwanda. Established in 1963 it was state-owned until 2004 when Actis Africa Fund 2 acquired an 80% stake. The Rwandan government retains a minority stake but plans to offer the shares to the public in due course. This was CDC’s first entry into Rwanda, a country still struggling after the genocide of 1994. Actis hopes that with the banking sector growing at 10% a year in the context of a stabilised economy BCR can act as a catalyst in the resurgent sector.

• Second largest commercial bank in Rwanda.
• Capital and reserves of around US$6.3m.
• New management team with significant banking experience.
• Two new retail products launched - savings account and personal loans.
• Leasing finance business launched for small businesses.
• Refurbishment programme across BCR’s seven branches.
• Increased profitability.
• Market share up from 20% to 25% since privatisation.
• Actis expertise in the financial services sector has helped improve the bank’s management significantly.
• Privatisation capital has helped the bank reposition itself to take advantage of a growing market.
• BCR is now free to innovate and introduce a range of products to suit the needs of its retail and business customers.
• Actis is working with BCR to improve corporate governance, staff training and internal controls to improve efficiency and accelerate growth.