Bank of Kigali is in discussions to acquire property and casualty insurer Sonarwa SA, the bank's CFO, Nathalie Mpaka, told Reuters.

The Rwandan lender has been eyeing Sonarwa for a while, Mpaka said, adding that a proposal could be presented to the bank's board by August.

Sonarwa offers aviation, fire, automotive and marine insurance, among other coverage. In 2008, Nigeria-based Industrial and General Insurance Plc bought a 35% stake in Sonarwa.