Bank of Africa Uganda

Last updated
Bank of Africa Uganda Limited
Company typePrivate: Subsidiary of Bank of Africa Group
Industry Financial services
Founded1984;40 years ago (1984)
HeadquartersLugogo One Building
23 Lugogo Bypass
Kampala, Uganda
Key people
George William Egaddu
Chairman
Arthur Isiko
Managing Director
ProductsLoans, savings, investments, debit cards, credit cards, mortgages
RevenueIncrease2.svgAftertax:UGX:11.638 billion (US$3.02 million) (H1 2023) [1]
Total assets UGX:1,100 billion (US$285.5 million) (H1 2023) [1]
Number of employees
700+ (2024)
Website boauganda.com

Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator. [2]

Contents

Location

The headquarters and main branch of Bank of Africa Uganda Limited, are located at Lugogo One Building, 23 Lugogo Bypass, in the central business district of Kampala, Uganda's capital and largest city. [3]

Overview

BOA Uganda is involved in all aspects of commercial banking although its focus is on providing banking services to multinational companies, mid-size local enterprises, and small retail businesses. As of June 2023, BOA Uganda was a medium-sized financial services provider, with total assets of UGX:1,100 billion (approximately US$285.5 million), with shareholders' equity of UGX:177.688 billion (approximately US$46.11 million). [1]

Bank of Africa Group

The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Casablanca, Morocco, with presence in 20 countries. The group also maintains an office in Paris, France. As of December 2022, the group employed more than 6,500 employees and had a total asset base in excess of €10.2 billion. [4]

History

BOA Uganda started its operations in 1984 as Sembule Investment Bank (SIB). In 1996, SIB was purchased by Banque Belgolaise and the Netherlands Development Finance Company. The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to investors that included the Bank of Africa (Kenya), [5] Aureos East Africa Fund LLC, [6] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited. [7]

Ownership

The share ownership of BOA Uganda as of 31 December 2022 was as illustrated in the table below: [8]

Bank of Africa Stock Ownership
RankName of OwnerPercentage Ownership
1 Bank of Africa Group
47.41
2Africa Financial Holdings-Indian Ocean of Mauritius
44.83
3Central Holdings Uganda Limited
7.76
Total
100.00

Source:

Governance

The bank is supervised by a nine-person board of directors, chaired by George William Egaddu, a non-executive board member. [9]

Management team

In December 2010, Edigold Monday was appointed managing director of the bank. She became the first indigenous woman to rise to this level at a Ugandan commercial bank. [10] In April 2014, Monday resigned. [11] Arthur Isiko was appointed to replace her. [12]

Branch network

As of November2024, the bank maintained branches in all regions of the country, including at the following locations: [13]

  1. Main Branch: One Lugogo Building, 3 Lugogo Bypass, Kampala [3]
  2. Ndeeba Branch: 1024 Masaka Road, Ndeeba
  3. Taxi Park Branch: Mukwano Centre, 40-46 Ben Kiwanuka Street, Kampala
  4. Kampala Road Branch: 48 Kampala Road, Kampala
  5. Ntinda Branch: 49 Ntinda Road, Ntinda, Kampala
  6. Wandegeya Branch: KM Plaza, 85 Bombo Road, Wandegeya, Kampala
  7. Entebbe Branch: 16 Kampala Road, Entebbe
  8. Nakivubo Branch: 15 Nakivubo Road, Kampala
  9. Mukono Branch: 13 Kampala Road, Mukono
  10. Kabalagala Branch: 559 Ggaba Road, Kabalagala, Kampala
  11. Oasis Branch: Oasis Mall, 88-94 Yusuf Lule Road, Kampala
  12. Jinja Main Branch: 1 Main Street, Jinja
  13. Clive Road Branch: 18 Clive Road East, Jinja
  14. Arua Branch: 19 Avenue Road, Arua
  15. Lira Branch: 1A Balla Road, Lira
  16. Mbarara Branch: 1 Mbaguta Road, Mbarara
  17. Mbale Branch: 26 Cathedral Avenue, Mbale
  18. Fort Portal Branch: 14 Bwamba Road, Fort Portal
  19. Gulu Branch: 11 Awere Road, Gulu
  20. Kololo Branch: 9 Cooper Road, Kisementi, Kololo, Kampala
  21. Kawempe Branch: 125 Bombo Road, Kawempe, Kampala
  22. Nansana Branch: 5390 Nansana Town Centre, Nansana
  23. Luzira Branch: 1329/1330 Port Bell Road, Luzira, Kampala
  24. Hoima Branch: 13 Wright Road, Hoima
  25. Nateete Branch: 1-2 Old Masaka Road, Nateete, Kampala
  26. Patongo Branch - 33 Dollo Road, Patongo
  27. Bbira Mini Branch: 2731 Mityana Road, Bbira, Wakiso District
  28. Namasuba Branch: Freedom City Mall, 4010 Entebbe Road, Namasuba, Kampala
  29. Kalongo Mini Branch: 16 Patongo Road Kalongo
  30. Business Centre - 9 Kittante Road, Kampala
  31. Rwenzori Mini Branch: Rwenzori House, 1 Lumumba Avenue, Nakasero, Kampala
  32. Masaka Branch: 7 Birch Avenue, Masaka [14]
  33. Rubirizi Branch: Mbarara-Kasese Highway, Rubirizi.

In addition to the brick-and-mortar branches, the bank has a mobile banking vehicle covering nine districts and key trading centres in the districts of Lira, Pader, Oyam, Lira, Kole, Apac, Dokolo, Kaberamaido, Alebtong, and Otuke. [15]

See also

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References

  1. 1 2 3 Bank of Africa Uganda Limited (19 February 2024). "Bank of Africa Uganda: Half Year Financial Statements For The Six Months Ended 30 June 2023" (PDF). Bank of Africa Uganda Limited. Kampala. Retrieved 19 February 2024.
  2. ↑ Bank of Uganda (31 March 2023). "List of licensed Commercial Banks as at 31 March 2023" (PDF). Bank of Uganda . Kampala, Uganda. Retrieved 20 February 2024.
  3. 1 2 Stuart Ampaire (7 February 2024). "Bank of Africa Uganda Launches New Head Office in Kampala". ChimpReports. Kampala, Uganda. Retrieved 19 February 2024.
  4. ↑ Bank of Africa Group (20 February 2024). "Who We Are". Bank of Africa Group . Casablanca, Morocco. Retrieved 20 February 2024.
  5. ↑ Belgolaise (23 October 2006). "Chronology of disposal of banking activities". Brussels: Belgolaise. Retrieved 24 May 2018.
  6. ↑ Jacob Kholi; Managing Partner; Aureos West Africa. "Aureos Capital". Aureos.com. Archived from the original on 10 October 2012. Retrieved 18 December 2012.
  7. ↑ Isiko, Arthur (24 May 2018). "About Bank of Africa Uganda Limited". Kampala: Bank of Africa Uganda. Archived from the original on 30 May 2018. Retrieved 24 May 2018.
  8. ↑ Bank of Africa Uganda (28 April 2023). "Bank of Africa Uganda: Annual Report For The Year Ended 31 December 2022" (PDF). Bank of Africa Uganda. Kampala, Uganda. Retrieved 20 February 2024.
  9. ↑ Bank of Africa Uganda (20 February 2024). "Bank of Africa Uganda: Board of Directors". Bank of Africa Uganda. Kampala, Uganda. Retrieved 20 February 2024.
  10. ↑ David Ssempijja (26 December 2010). "Uganda Gets Her First Local Woman Commercial Bank Managing Director". New Vision . Archived from the original on 2014-04-16. Retrieved 29 May 2014.
  11. ↑ Ismail Musa Ladu (15 April 2014). "Uganda's First Female Bank Managing Director Bows Out". Daily Monitor . Kampala, Uganda. Archived from the original on 16 April 2014. Retrieved 16 April 2014.
  12. ↑ Faridah Kulabako (28 April 2014). "Mobile Money Competition Stiffer As Bank Unveils Related Platform". Daily Monitor . Kampala, Uganda. Retrieved 5 May 2014.
  13. ↑ Bank of Africa Uganda (October 2020). "Branches of Bank of Africa Uganda Limited" (PDF). Bank of Africa Group. Retrieved 20 February 2024.
  14. ↑ Jonathan Adengo (30 April 2015). "Bank of Africa Posts USh1.2 Billion Profit Up From USh6.7 Billion Loss In 2013". Daily Monitor . Kampala, Uganda. Archived from the original on 1 May 2015. Retrieved 1 May 2015.
  15. ↑ "About Bank of Africa Uganda Limited". AfricaSkillz.com. 2022. Retrieved 20 February 2024.

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