Kigali The first businesses were established in Kigali that year by Greek and Indian merchants, with assistance from Baganda and Swahili people. Items traded included cloth and beads. However, commercial activity was limited and there were only around 30 firms in the city by 1914. Kandt also opened government-run schools in Kigali, which began educating Tutsi students. Belgian forces took control of Rwanda and Burundi in 1916, during World War I, and were granted sovereignty by a League of Nations mandate in 1919.. In early 1917, Belgium attempted to assert direct rule on the colony, placing King Musinga under arrest and
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.