Bank of Africa

Bank of Africa (BOA), also known as Bank of Africa Group, is a multinational pan-African banking conglomerate, with banking operations in 14 African countries, and a representative office in Paris, France. Bank of Africa maintains its headquarters in Bamako, the capital city of Mali.

Overview

BOA is a large financial services provider in 14 sub-Saharan Countries. As of December 2010, the group's total assets were valued at €3.55 billion (US$4.49 billion) In addition to its 14 commercial banks, the Group also includes a finance company, a housing bank, a leasing company, one brokerage firm and two investment firms, as well as a management company and a representative office in Paris.

History

The maiden bank of the BOA Group, BOA Mali, was established in late 1982, in Bamako, Mali, by local businesspeople. It was formed to address the scarcity of banking services for local businesses and individuals, which was prevalent not only in Mali at that time, but across most of Francophone West Africa. This initial effort was without any external financial backing.

Bank of Africa (Kenya)

Bank of Africa - Kenya Limited (BOA Kenya), is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.

Overview

BOA Kenya is a mid-tier bank and is ranked 15th out of the 42 commercial banks in Kenya by the CBK. The bank provides banking services to corporate, SMEs, investment groups as well as individuals. The bank operates through a network of 33 branches across Kenya.

History

The Bank trances its roots from Calyon Bank (formally Credit Agricole Indosuez) which was founded in 1981. In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004.

BOA Kenya has invested in BOA Uganda (52.72%), making it a subsidiary and a 24.1% stake in BOA Tanzania, making it an associate.

Ownership

BOA Kenya is a member of the Mali based Bank of Africa. As of December 2013, shareholding in the bank's stock was as depicted below:

Bank of Africa (Ghana)

Bank of Africa Ghana, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator.

Overview

BOA Ghana is a large financial services provider in Ghana. As of December 2011, the total asset valuation of the bank was estimated at US$300 million (GHS:735.5 million). The bank is a member of Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in fourteen African countries, including Benin, Burkina Faso, Burundi, Democratic Republic of the Congo, Djibouti, Ghana, Kenya, Ivory Coast, Madagascar, Mali, Niger, Senegal, Tanzania and Uganda. The group also maintains an office in Paris, France.

History

The bank was incorporated in 1997, as Amalgamated Bank Limited. In 2006, Meeky Enterprises of Nigeria, acquired 49% shareholding in AmalBank. At that time, Meeky was also a major shareholder in Oceanic Bank, a Nigerian financial services provider which was later acquired by Ecobank Nigeria. In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank rebranded to Bank of Africa (Ghana)