{"id":2000124375,"date":"2026-09-01T08:55:02","date_gmt":"2026-09-01T06:55:02","guid":{"rendered":"https:\/\/new.igihe.com\/english\/?p=2000124375"},"modified":"2026-09-01T16:09:49","modified_gmt":"2026-09-01T14:09:49","slug":"rssb-completes-acquisition-of-bk-general-insurance","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/rssb-completes-acquisition-of-bk-general-insurance\/","title":{"rendered":"RSSB completes acquisition of BK General Insurance"},"content":{"rendered":"\n

BK Group said the transaction covers its entire shareholding in the insurance company and values each of the 3 million ordinary shares at Rwf 10,567, based on an independent valuation. The initial price was Rwf 1,000 per share.<\/p>\n\n\n\n

The completion of the transaction is part of BK Group\u2019s consolidation strategy, under which the Group is focusing on two core businesses: commercial banking through Bank of Kigali Plc and investment banking through BK Capital Ltd.<\/p>\n\n\n\n

According to the notice, the strategy places emphasis on \u201cproduct diversification, market expansion, cross-collaboration synergies and a strengthened capital markets offering.\u201d<\/p>\n\n\n\n

BK Group said the sale of BKGI reflects this shift as it concentrates its operations on banking and investment banking.<\/p>\n\n\n\n

The Group has also completed the integration of BK Techouse Ltd (BKTH) into Bank of Kigali Plc.<\/p>\n\n\n\n

Under the integration, BKTH\u2019s assets, technology platforms and relevant contracts have been transferred to Bank of Kigali, while the technology functions previously performed by the company will continue under the bank\u2019s Digital division.<\/p>\n\n\n\n

BK Group said the change will not disrupt customer services and that BKTH has ceased to operate as a separate subsidiary.<\/p>\n\n\n\n

Proceeds from the transaction enabled BKTH to settle all its liabilities, with any surplus remaining at the closure of the company to be transferred to BK Group.<\/p>\n\n\n\n

The integration will have no effect on BK Group\u2019s consolidated net asset value, according to the notice.<\/p>\n\n\n\n

Both transactions received the required regulatory clearances, including non-objections from the National Bank of Rwanda.<\/p>\n\n\n\n

BK Group said the two developments are aligned with its efforts to streamline the Group and strengthen its focus on its core banking and investment banking businesses. <\/p>\n\n\n\n

The move follows RSSB\u2019s acquisition last month of all the remaining shares in Inyange Industries and Ruliba Clays, two companies that were subsidiaries of Crystal Ventures Ltd (CVL).<\/p>\n\n\n\n

Commenting on the acquisition, RSSB Chief Executive Officer Regis Rugemanshuro highlighted that the institutions remains committed to deploying capital responsibly and strategically by investing in opportunities that deliver long-term value for its members. <\/p>\n\n\n\n

“Completing the acquisition is a significant milestone in our ambition to build a strong and competitive insurance group. <\/p>\n\n\n\n

“By bringing these businesses under a unified ownership and management structure, we are creating a platform that can create greater value to customers, support innovation and contribute to the continued development of Rwanda’s insurance sector,” he said. <\/p>\n\n\n\n

\"\"
RSSB has completed the acquisition of BK General Insurance from BK Group for Rwf 31.7 billion, marking another major investment by the pension fund as it expands its presence across key sectors of Rwanda\u2019s economy.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

The Rwanda Social Security Board (RSSB) has completed the acquisition of BK General Insurance Ltd (BKGI) from BK Group Plc for Rwf 31.7 billion, according to a notice issued by BK Group on August 31, 2026.<\/p>\n","protected":false},"author":3,"featured_media":2000124376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[151,69],"byline":[160],"hashtag":[],"class_list":["post-2000124375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-editors-choice","tag-homehighlights","byline-theophile-niyitegeka"],"bylines":[{"id":160,"name":"Th\u00e9ophile Niyitegeka","slug":"theophile-niyitegeka","description":"","image":{"id":2000122455,"url":"https:\/\/cdn.igihe.com\/en\/2026\/08\/WhatsApp-Image-2026-08-14-at-11.50.01-AM.jpeg","title":"WhatsApp Image 2026-08-14 at 11.50.01 AM","mime_type":"image\/jpeg"},"user_id":3}],"contributors":[{"id":160,"name":"Th\u00e9ophile Niyitegeka","slug":"theophile-niyitegeka","description":"","image":{"id":2000122455,"url":"https:\/\/cdn.igihe.com\/en\/2026\/08\/WhatsApp-Image-2026-08-14-at-11.50.01-AM.jpeg","title":"WhatsApp Image 2026-08-14 at 11.50.01 AM","mime_type":"image\/jpeg"},"user_id":3}],"featured_image":{"id":2000124376,"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","alt":"","caption":"In less than one month, the Rwanda Social Security Board (RSSB) has taken full ownership of three major businesses, including Inyange Industries Ltd, Ruliba Clays Ltd and BK General Insurance Ltd (BKGI).","mime_type":"image\/jpeg","width":1000,"height":666,"sizes":{"thumbnail":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","width":1000,"height":666},"medium":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","width":1000,"height":666},"medium_large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","width":1000,"height":666},"large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","width":1000,"height":666},"full":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/09\/rssb-16-ef7ce.jpg","width":1000,"height":666}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000124375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=2000124375"}],"version-history":[{"count":4,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000124375\/revisions"}],"predecessor-version":[{"id":2000124443,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000124375\/revisions\/2000124443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000124376"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=2000124375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=2000124375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=2000124375"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=2000124375"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=2000124375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}