Zigama Credit and Savings Bank

Zigama Credit and Savings Bank
Company typePrivate
IndustryFinancial services
Founded1997
HeadquartersKigali, Rwanda
Key people
James Ndahiro
Chairman
Emmanuel Bayingana
Chief Executive Officer[1]
ProductsLoans, Savings, Investments
RevenueIncrease RWF:9.4 billion
(US$11 million) (2017)[1]
Total assetsRWF:215.4 billion
(US$251.4 million) (2016)[2]
Number of employees
124 (2011)
Websitezigamacss.rw

Zigama Credit and Savings Bank (ZCSB), is a microfinance bank in Rwanda. The bank is one of the financial institutions licensed by the National Bank of Rwanda, the national banking regulator.[3]

History

ZCSB was established in 1997 as Zigama Credit & Savings Society (ZCSS), also referred to as Zigama CSS, with its primary mission to serve the welfare of Rwanda's military families.[4] In 2011, the institution received a commercial banking license and rebranded to its current name.[5] Since Its formation, the cooperative bank has accepted membership from Rwanda Police Force and Rwanda Correctional Services.[6]

Overview

The bank is a licensed cooperative bank, serving its members in Rwanda.[7] As of December 2012, the total asset valuation of the institution was in excess of US$143 million (RWF:90 billion).[8]

Ownership

As of December 2011, the detailed shareholding in the stock of Zigama Credit and Savings Bank are not publicly known. The bank is majority owned and administered by members of the Rwanda Defence Forces.[9]

Branch network

As of December 2011, ZCSB maintains branches at the following locations:[10]

  1. Main Branch - Kimihurura, Kigali
  2. Nyarugenge Branch - Nyarugenge, Kigali
  3. Kacyiru Branch - Kacyiru, Kigali
  4. Kanombe Branch - Kanombe, Kigali
  5. Kibungo Branch - Kibungo, Ngoma District
  6. Butare Branch - Butare, Huye District
  7. Ruhengeri Branch - Ruhengeri, Musanze District
  8. Cyangugu Branch - Cyangugu, Rusizi District
  9. Gisenyi Branch - Gisenyi, Rubavu District
  10. Byumba Branch - Byumba, Gicumbi District
  11. Kibuye Branch - Kibuye, Karongi District
  12. Nyagatare Branch - Nyagatare, Nyagatare District
  13. Gitarama Branch - Gitarama, Muhanga District

See also

References

  1. ^ a b Kelly Rwamapera (23 October 2018). "Zigama gets new boss". New Times (Rwanda). Kampala. Retrieved 28 October 2018.
  2. ^ Julius Bizimungu (31 March 2017). "Zigama-CSS records over Rwf6bn in profit, to start education scheme". New Times (Rwanda). Kigali. Retrieved 28 October 2018.
  3. ^ List of Licensed Banks In Rwanda Archived May 12, 2012, at the Wayback Machine
  4. ^ Karuhanga, James (30 November 2010). "Rwanda: Zigama Advised Against Becoming a Commercial Bank". The New Times (Kigali). Retrieved 30 August 2017.
  5. ^ Zigama Received Commercial Banking License In 2011 Archived April 26, 2011, at the Wayback Machine
  6. ^ Rwanda Prison Services Join Zigama
  7. ^ Zigama Licensed As A Cooperative Bank
  8. ^ "allAfrica.com: Rwanda: Zigama Credit and Savings Society Registers U.S.$4.7 Million Profit". allAfrica.com. Retrieved 14 February 2015.
  9. ^ Zigama Is Owned and Operated By Members of Rwanda Military
  10. ^ "::: Zigamacss.rw : Branches". zigamacss.rw. Retrieved 14 February 2015.[permanent dead link‍]