CBK Press Release
The Central Bank of Kenya (CBK) announces the cancellation of the
authority granted to the Bank of Kigali (BoK) to operate a Representative
Office in Kenya under Section
43 of the Banking Act, effective April 2, 2024. The voluntary termination of BoK's presence in Kenya
follows a strategic decision taken by the Bank of Kigali
Group Plc (BoK's parent company) to focus more on digital service delivery channels. CBK authorised the
establishment of Bank of Kigali's Representative
Office in Kenya on February 12, 2013.
BoK, headquartered in Kigali, is a banking institution founded in 1966,
licensed and supervised by the National Bank of Rwanda under the Law governing
the organisation of banking. The
Government of Rwanda controls majority shareholding in the bank while the remaining portion is held between
institutional and retail
shareholders. Bank of Kigali is also cross listed on the Nairobi Securities Exchange.
CENTRAL BANK OF KENYA APRIL 5, 2024
