A warm welcome to our new sponsor, BANK OF AFRICA- UGANDA to the 1st Uganda Convention in UK taking place on 27th August 2011.
Ugandans in the Diaspora have lacked proper financial service from reputable institutions and thus find unnecessary challenges in obtaining funds for their personal or business ventures and essentially opening up accounts for their saving back home. This is mainly characterized by the lack of information on how to utilize banking and financial services in Uganda. BOA is well positioned to serve Ugandans in the Diaspora and has the necessary technology to appeal better to Ugandans in the Diaspora.
The Bank started its operations in 1984 and was bought by Banque Belgolaise and the Netherlands Development Finance Company (FMO) in 1996. In October 2006, the Bank joined the BANK OF AFRICA Group following the transfer of the Belgolaise shareholding to BANK OF AFRICA – KENYA, Aureos East Africa Fund LLC and Central Holdings Ltd. The Netherlands Development Finance Company (FMO) continues to retain its interest in the ownership of the Bank. Over the years, we have increased our footprint in Uganda, catering for the Retail, SME and Corporate market segments.
BANK OF AFRICA-KENYA Ltd is part of the BANK OF AFRICA Group, with total assets of over USD1.52billion. The Group, whose history goes back to Mali in 1982, now operates through a network of commercial banks in 11 countries; 6 in the West African Economic and Monetary Union (WAEMU), Madagascar, Burundi, Kenya and Uganda, under the common name BANK OF AFRICA. The Group is equally active in the fields of insurance, mortgage, financial leasing and stock brokerage. BANK OF AFRICA has close relationships with PROPARCO, a subsidiary of Agence Francaise de Developpement, FMO and, with the French bank, NATEXIS Banques Populaires, who are all shareholders of the BANK OF AFRICA Group.
AUREOS East Africa Fund LLC (AEAF) is a USD40m private equity fund registered in Mauritius whose shareholders include the CDC Group plc, NORFUND, European Investment Bank, IFC, SECO, and FMO, among others. AEAF actively seeks to invest in and work with robust Small and Medium sized enterprises with a view to supporting their expansion ambitions. The Fund has invested in a number of companies in Kenya and Tanzania and is now focused on expanding its activities in Uganda with an especial interest in building pan-East African businesses.
FMO is a triple A-rated Development Bank, which supports the private sector in developing countries.
Within the financial sector, FMO focuses mainly on the provision of services to small and medium-sized enterprises by supporting young and pan-African financial institutions with equity stakes and local currency funding, mobilizing risk capital for SMEs, stimulating SME financing by larger, general banks; and mobilizing local financial means, such as savings and investments by local institutional investors.
Central Holdings Ltd on the other hand, is part of a large, well-run local manufacturing and investment property owning group whose owners have had intense knowledge of the bank’s operations, spanning many years.
Mr. Mutenza said that “it gives me great pleasure that the 15 years invested in promoting our Ugandan community cohesion is not wasted, probably most of private and government bodies in Uganda expressed interest to be part of this Nobel Convention initiative” This is an indication of the importance and recognition of the Diaspora market.
By Kayitesi Miria
Theme "unleashing Uganda's Diaspora potential"
Guest of honour: Maria Kiwanuka, Uganda's Minister of Finance
Uganda Convention UK's vision is to harness the tremendous skill, exposure,
expertise and knowledgebase of the Ugandan Diaspora with a view to promote socio-economic
and infrastructural development back in Uganda, thus promoting, contributing, enhancing and
sustaining economic growth in Uganda. Click here for our objectives
Meet over 25 exhibitors – from Uganda and the Diaspora.
Explore opportunities on acquiring a mortgage in Uganda and engage with leading experts on raising finance in Uganda.
Explore, discuss, debate and Network with business leaders, experts, VIPs and fellow Ugandans, who will be sharing their expertise on how we can increase investment in Uganda.
Engage fully with fellow delegates, our sponsors and exhibitors at our speed networking sessions and above all have a face-to-face discussion and explanation on different investment and business opportunities on offer.
Discover expert advice on Business opportunities in Northern Uganda, utilising the New Southern Sudan potential.
business and leisure travellers visiting London.
Troxy is located within a three minute walk of Limehouse Station which operates the DLR and C2C train networks. DLR trains to Limehouse from central London are accessible from Bank (Central/Circle/Northern & Waterloo & City Lines) and Tower Hill (Circle/District Lines) and are two stops (5 minutes) from either station. C2C operates trains from Liverpool Street through Limehouse and into Essex. For more info click here