Compagnie Générale de Banque
Encyclopedia
Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a commercial bank
in Rwanda. The bank is one of the eleven (11) licensed commercial bank
s in the Republic of Rwanda.
n investors. At that time, the insurance company Compagnie Générale d'Assurance et de Reassurance (COGEAR), was the largest shareholder, with 34% ownership. In the beginning, the bank's emphasis was Small and Medium Enterprises (SMEs), agriculture and the service industries. In 2008, three new international investors paid US$6million for a 40% ownership in the bank. The new investors included:(a) ShoreCap International (SCI) of Chicago
, Illinois
, USA; (b) the Belgian Investment Company for Developing Countries
(BIO) and (c) AfricaInvest, an investment company based in Tunisia
. These transactions, initiated in 2008, were concluded in early 2010. The original Rwanda
n investors maintain a 60% shareholding in the restructured bank.
is owned by the following corporate entities and individual investors:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Cogebanque Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||ShoreCap International of Chicago
, USA||13.333
|-
|2||BIO of Belgium
||13.333
|-
|3||AfricaInvest of Tunisia
||13.333
|-
|4||Private Investors from Rwanda
||60.00
|-
|||Total||100.00
|-
|}
, and the other seven in the provinces.
is Jean Marie Karekezi.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Rwanda. The bank is one of the eleven (11) licensed commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s in the Republic of Rwanda.
History
Cogebanque was established in July 1999 by forty-two (42) private RwandaRwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
n investors. At that time, the insurance company Compagnie Générale d'Assurance et de Reassurance (COGEAR), was the largest shareholder, with 34% ownership. In the beginning, the bank's emphasis was Small and Medium Enterprises (SMEs), agriculture and the service industries. In 2008, three new international investors paid US$6million for a 40% ownership in the bank. The new investors included:(a) ShoreCap International (SCI) of Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, USA; (b) the Belgian Investment Company for Developing Countries
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
(BIO) and (c) AfricaInvest, an investment company based in Tunisia
Tunisia
Tunisia , officially the Tunisian RepublicThe long name of Tunisia in other languages used in the country is: , is the northernmost country in Africa. It is a Maghreb country and is bordered by Algeria to the west, Libya to the southeast, and the Mediterranean Sea to the north and east. Its area...
. These transactions, initiated in 2008, were concluded in early 2010. The original Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
n investors maintain a 60% shareholding in the restructured bank.
Ownership
The bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is owned by the following corporate entities and individual investors:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Cogebanque Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||ShoreCap International of Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, USA||13.333
|-
|2||BIO of Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
||13.333
|-
|3||AfricaInvest of Tunisia
Tunisia
Tunisia , officially the Tunisian RepublicThe long name of Tunisia in other languages used in the country is: , is the northernmost country in Africa. It is a Maghreb country and is bordered by Algeria to the west, Libya to the southeast, and the Mediterranean Sea to the north and east. Its area...
||13.333
|-
|4||Private Investors from Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
||60.00
|-
|||Total||100.00
|-
|}
Branch Network
As of May 2008, Cogebanque had fourteen (14) branches, with seven (7) of them in the city of KigaliKigali
Kigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
, and the other seven in the provinces.
Directors
The Chairman of the Cogebanque's Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
is Jean Marie Karekezi.