Zigama Credit and Savings Bank explained

Zigama Credit and Savings Bank
Type:Private
Foundation:1997
Location:Kigali, Rwanda
Key People:James Ndahiro
Chairman
Emmanuel Bayingana
Chief Executive Officer[1]
Num Employees:124 (2011)
Assets:RWF:215.4 billion
(US$251.4 million) (2016)[2]
Revenue: RWF:9.4 billion
(US$11 million) (2017)
Industry:Financial services
Products:Loans, Savings, Investments

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 cooperativebank 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], the total asset valuation of the institution was in excess of US$143 million (RWF:90 billion).[8]

Ownership

, 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
    1. Butare Branch - Butare, Huye District Ruhengeri Branch - Ruhengeri, Musanze District
  6. Cyangugu Branch - Cyangugu, Rusizi District
  7. Gisenyi Branch - Gisenyi, Rubavu District
  8. Byumba Branch - Byumba, Gicumbi District
  9. Kibuye Branch - Kibuye, Karongi District
  10. Nyagatare Branch - Nyagatare, Nyagatare District
  11. Gitarama Branch - Gitarama, Muhanga District

See also

External links

Notes and References

  1. Web site: Zigama gets new boss . 28 October 2018 . 23 October 2018 . . Kelly Rwamapera . Kampala.
  2. Web site: Zigama-CSS records over Rwf6bn in profit, to start education scheme . 28 October 2018 . 31 March 2017 . Julius Bizimungu . . Kigali.
  3. http://www.bnr.rw/supervision/bankregister.aspx List of Licensed Banks In Rwanda
  4. News: Rwanda: Zigama Advised Against Becoming a Commercial Bank. Karuhanga. James. 2010-11-30. The New Times (Kigali). 2017-08-30.
  5. http://www.busiweek.com/11/news/rwanda/817-competition-sets-in-as-new-banks-join-market Zigama Received Commercial Banking License In 2011
  6. http://allafrica.com/stories/201111010158.html Rwanda Prison Services Join Zigama
  7. http://allafrica.com/stories/201108100711.html Zigama Licensed As A Cooperative Bank
  8. Web site: allAfrica.com: Rwanda: Zigama Credit and Savings Society Registers U.S.$4.7 Million Profit. allAfrica.com. 14 February 2015.
  9. http://allafrica.com/stories/201003310260.html Zigama Is Owned and Operated By Members of Rwanda Military
  10. Web site:

    Zigamacss.rw : Branches

    . zigamacss.rw. 14 February 2015.

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