Bank of Kigali ordinary share capital. In 1967, the Bank commenced its operations with its first branch in Kigali. Belgolaise was a subsidiary of Fortis Bank (now defunct), operating in Sub-Saharan Africa but in 2005 began to withdraw from its operations in Africa in line with Fortis’ strategy. In 2007 the Government of Rwanda acquired the Belgolaise shareholding in Bank of Kigali, thereby increasing its direct and indirect shareholding in the Bank to 100% of the entire Issued Shares. In 2011, the Bank changed its name under the new law relating to companies from Bank of Kigali S.A to Bank of Kigali Limited.
African Continental Free Trade Area 8-9 March 2018 the African Union Ministers of Trade approved the draft. At the extraordinary Summit of the Assembly of the African Union on 21 March in Kigali the Agreement establishing the African Continental Free Trade Area was signed, along with the Kigali Declaration and the Protocol of Free Movement. Other countries who signed the Kigali declaration, including South Africa and Namibia, are expected to sign the agreement during the AU summit in July. Negotiations will continue in 2018 with Phase II, including policies of investment, competition and intellectual property rights. On the January 2020 AU Assembly negotiations are envisaged