Lanka Orix Leasing Company (LOLC) Holdings, a Sri Lankan unit of the Japanese conglomerate Orix, recently paid an undisclosed sum to Belgium’s Incofin Investment Management to acquire 28 percent of the shares of Rwanda’s Unguka Bank. Unguka provides deposit, lending and other services to individuals as well as micro-, small and medium-sized enterprises (MSMEs). The bank has 15 service locations in the capital and three provinces. It serves 1,700 clients with total assets of USD 29 million. Unguka received its license from the National Bank of Rwanda in 2005.
Geert Peetermans, Co-CEO of Incofin commented: “From the time we