Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator.[2]
Location
The headquarters and main branch of Bank of Africa Uganda Limited, are located at Lugogo One Building, 23 Lugogo Bypass, in the central business district of Kampala, Uganda's capital and largest city.[3]
Overview
BOA Uganda is involved in all aspects of commercial banking although its focus is on providing banking services to multinational companies, mid-size local enterprises, and small retail businesses. As of June 2023, BOA Uganda was a medium-sized financial services provider, with total assets of UGX:1,100 billion (approximately US$285.5 million), with shareholders' equity of UGX:177.688 billion (approximately US$46.11 million).[1]
Bank of Africa Group
The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Casablanca, Morocco, with presence in 20 countries. The group also maintains an office in Paris, France. As of December 2022, the group employed more than 6,500 employees and had a total asset base in excess of €10.2 billion.[4]
History
BOA Uganda started its operations in 1984 as Sembule Investment Bank (SIB). In 1996, SIB was purchased by Banque Belgolaise and the Netherlands Development Finance Company. The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to investors that included the Bank of Africa (Kenya),[5] Aureos East Africa Fund LLC,[6] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.[7]
Ownership
The share ownership of BOA Uganda as of 31 December 2022 was as illustrated in the table below:[8]
Africa Financial Holdings-Indian Ocean of Mauritius
44.83
3
Central Holdings Uganda Limited
7.76
Total
100.00
Source:
Bank of Africa Uganda: Annual Report 2022
Governance
The bank is supervised by a nine-person board of directors, chaired by George William Egaddu, a non-executive board member.[9]
Management team
In December 2010, Edigold Monday was appointed managing director of the bank. She became the first indigenous woman to rise to this level at a Ugandan commercial bank.[10] In April 2014, Monday resigned.[11]Arthur Isiko was appointed to replace her.[12]
Branch network
As of February 2025, the bank maintained branches in all regions of the country, including at the following locations:[13]
Main Branch: One Lugogo Building, 3 Lugogo Bypass, Kampala[3]
In addition to the brick-and-mortar branches, the bank has a mobile banking vehicle covering nine districts and key trading
centres in the districts of Lira, Pader, Oyam, Lira, Kole, Apac, Dokolo, Kaberamaido, Alebtong, and Otuke.[15]
^Jacob Kholi; Managing Partner; Aureos West Africa. "Aureos Capital". Aureos.com. Archived from the original on 10 October 2012. Retrieved 18 December 2012.
