{The management of Atlas Mara, financial services holding company declared on 29th October 2015 that it has signed agreement to buy 62% of Banque Populaire du Rwanda (BPR) shares. }
The company expects to invest US$ 21 million.
Atlas Mara in collaboration with other shareholders including Rabobank from Netherlands will start the management of BPR during the last days of this year.
Last year, Atlas Mara bought some of Rwanda Development Bank (BRD) shares that included saving projects where they will pay profit along with its commercial branch.
According to ‘Jeune Afrique’ journal, buying BPR shares will strengthen its roots in Rwanda provided that it is the second among leading banks of the country after Bank of Kigali (BK). BPR has 191 branches ranking it to the first expanded bank in the country.
In 2008 Robobak, Netherlands’ company bought 35% shares of BPR leaving 65% for customers.
The management of Atlas Mara embarked on talks with BPR on 27th May 2015 to negotiate how to buy shares.
Atlas Mara also unveiled that negotiations to buy shares are ongoing where it targets to invest the sixth leading bank in Zambia (Zambia Finance Bank.
Formed in 2013 ,Atlas Mara Limited, ,is a financial services holding company formed to undertake the acquisition of target banks in Africa with the objective of becoming a leading financial services group in the continent.
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