Rwanda’s BK Group to mark $1bn valuation mark in Q1 2019

Recently, GK Group’s financial arm, Bank of Kigali ventured into an agreement with the European Investment Bank to finance several business investments in Rwanda. Now BK Group is on the track to become one of the first Rwandan companies to hit the USD 1 billion valuation mark.

BK Group’s rapid movement towards such a gargantuan amount is expected to raise investors’ confidence in Rwanda. Having currently four subsidiaries – ICT firm, bank, insurance and investment firm – the group is valued at USD 983.6 million with returns of the first quarter set to put it above the billion-dollar valuation. The group witnessed its assets growing by 20 percent in 2018, as reported by The New Times.

According to Chief Executive Officer of BK Group Dr. Diane Karusisi, the group is set to hit the USD 1 billion mark by the completion of first quarter of 2019. BK Group recorded a net profit of Rwf23.3 billion and Rwf20.8 billion profit after tax in 2016 respectively. Then in 2018, it recorded Rwf27.4 (around USD 30.7 million).

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