LOLC buys 90% of bank in Ruwanda

Friday, 22 September 2023 00:28 - - {{hitsCtrl.values.hits}}

LOLC Holdings yesterday disclosed that its sub-subsidiary LOLC Mauritius has acquired 90% stake in Unguka Bank PLC in Ruwanda for Rwandan Francs 5.3 billion or Rs. 1.4 billion. Unguka Bank PLC is a microfinance bank licensed by the National Bank of Rwanda. The bank was founded in 2005 and is licensed to take deposits from clients and grant loans, as well as engage in other related financial services.

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