Bank of Kigali to acquire Sonarwa

Bank of Kigali intends to purchase the local insurance company Société Nouvelle d'Assurances du Rwanda (Sonarwa). Discussions have been underway for a while and would result in an aquisition transaction by the end of 2019.

Created in 1975, Sonarwa covers a variety of risks such as aviation, motor and marine. The company, whose main shareholder is the Nigerian group General Insurance with 35% of shares, manages more than 14 billion RWF (15.68 million USD) of assets.