Bank of Kigali million), with shareholders' equity of RWF:122.8 billion (US$143.7 million). On 29 September 2017, Global Credit Ratings affirmed Bank of Kigali Limited’s long-term and short-term national scale ratings of AA-(RW) and A1+(RW) respectively; with a stable outlook. The bank has won several back to back international and regional "Best Bank in Rwanda" awards, including from EuroMoney, The Banker, Global Finance Magazine, and EMEA Finance. The Bank was incorporated in the Republic of Rwanda on 22 December 1966. Initially Bank of Kigali was founded as a joint venture between the Government of Rwanda and Belgolaise, with each owning 50 percent of the
Bank of Kigali shareholders' approved plans to cross-list the stock of the bank on the Nairobi Stock Exchange (NSE), the largest in the East African Community. The cross-listing and the planned rights issue, both planned during the second half of 2018, are expected to raise US$70 million, to be deployed on the acquisition of new, improved ICT systems ($20 million), with the rest deployed in loans to support infrastructure projects at home. In October 2018, the EastAfrican, a regional English language newspaper reported that the stock of Bank of Kigali was expected to list on the Nairobi stock exchange on 30 November 2018.