11 February 2013

Rwanda: Bank of Kigali Launches Stock Brokerage Service

Kigali, Rwanda — The Rwanda Capital Markets Authority (CMA) and the National Bank of Rwanda's Central Securities Depository Department last week flagged off 'BK Securities Limited', a wholly owned subsidiary of Bank of Kigali by giving it the required approvals and licenses to start brokerage services in Rwanda.

The company becomes the 9th brokerage firm to be admitted in Rwanda Stock Exchange.

Initially the company will be offering customers with brokerage services but officials say there are plans to grow its product offering to include Fund management, asset management and wealth management as well as transaction and corporate finance advisory.

The Bank says BK Securities will offer its customers seamless service consistent with Bank of Kigali's customer service where the investing public has an opportunity to buy and sell shares or bonds under the umbrella the Bank's brands.

The firm will be offering brokerage services for all equities listed on the Rwanda Stock Exchange including Bank of Kigali shares.

The stock market has two locally listed firms in Bank of Kigali and Bralirwa and two cross-listed regional firms in Kenya commercial Bank (KCB) and Nation Media Group (NMG).

"This is another big step towards realizing the Bank's Vision of offering universal 'One Stop Shop' financial services to all its clients," said BK's Chief Executive Officer James Gatera.

He added that the admission of the stock brokerage firm to the RSE and commencement of business offers their customers' unparalleled access to brokerage services, in addition, to the extensive banking services they currently enjoy.

Customers will receive up to date advice on equity and bond related options from brokerage staff enabling them to make well informed and timely saving and investment decisions.

As the ninth brokerage firm on the Rwandan Bourse, Gatera says they want to take the lead in creating value for the current and potential investors in the market.

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