Bank of Kigali Ltd. has ended talks for Morocco-based Banque Centrale Populaire to take a stake in the Rwandan lender and will look to raise $80 million to $100 million in a share offering in 2018, COO Desire Rumanyika told Reuters.
The bank will first look to raise the cash from existing shareholders, who are slated to meet in the week of Dec. 4, Rumanyika said. If they prove unwilling to stump up, then the bank will turn its focus to attracting new investors.
The funding would go toward expanding lending and building its online presence, according to the Nov. 30 report.
