Wikipedia

Banque de Gestion et de Financement

The Management and Financing Bank (French: Banque de Gestion et de Financement), or BGF, is a bank based in Bujumbura, Burundi.

Management and Financing Bank
BGF
Native name
Banque de Gestion et de Financement
PredecessorSociété de Gestion et de Financement (SOGEFI)
Founded1 April 1996; 28 years ago (1996-04-01)
Headquarters
30, Blvd de la Liberté, Bujumbura
,
Burundi
BGF Headquarters is located in Burundi
BGF Headquarters
BGF Headquarters
BGF Headquarters (Burundi)
Websitebgf.bi

History

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The Société de Gestion et de Financement (SOGEFI) was created in 1992 by a group of businessmen, with no public office. On 1 April 1996 the BGF was created by the same group as a commercial bank, taking over the assets of SOGEFI. The bank managed deposits, withdrawals, credit, exchange, investment, treasury, discount of effects, commissions and resumption of participation.[1] Capital was 600 million BIF in 1996, and equity was 430 million BIF.[2]

BGF expanded into several provinces of Burundi. As of 2024 it had 9 public offices in Bujumbura Mairie, and had opened 16 agencies:[1]

  • Headquarters (1996)
  • Mwaro (1999)
  • Gatumba (2001)
  • Kayanza (2004)
  • Ngozi (2004)
  • Muyinga (2004)
  • Rumonge (2006)
  • Makamba (2007)
  • Orée du Golf and Gitega (2011)
  • Ruyigi (2012)
  • Avenue du Commerce (2014)
  • BCM (2018)
  • Muramvya (2019)
  • Petro Muha (2020)
  • Kinindo (2023)[1]

As of 2008 BGF had 146 employees in eight branches. It had 32.7 billion BIF in assests, 22.7 billion BIF in deposits and 20.1 billion BIF of loans.[3] It had 13,632 accounts, about 10% of the total in Burundi at that time.[4]

In April 2021 the bank celebrated its 25th anniversary in Bujumbura at a ceremony attended by Prosper Bazombanza, vice-president of Burundi. By 2021 capital was 27 billion BIF and equity was 33 billion BIF. The bank was entirely owned by private citizens of Burundi.[2]

In April 2021 the Trade and Development Fund of the TDB Group issued a partial risk guarantee facility of 500 million BIF to the Women's Initiative for Self-Empowerment (WISE), a micro-finance institution established in 2007. This would allow WISE to borrow 1 billion BIF, or about US$510,000, from BGF, which WISE would lend to women as small and medium enterprise loans, particularly in agribusiness and trade.[5]

In 2024 BGF was one of ten banks that had been approved by the Banque de la République du Burundi (BRB) as a Treasury Valuation Specialist.[6]

See also

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References

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  1. ^ a b c Historique de la BGF.
  2. ^ a b Barangenza 2021.
  3. ^ Nkurunziza, Ndikumana & Nyamoya 2012, p. 14.
  4. ^ Nkurunziza, Ndikumana & Nyamoya 2012, p. 28.
  5. ^ TDB Group unlocks funding for women-led.
  6. ^ Liste des SVT.

Sources

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  • Barangenza, Laurent (2 May 2021), "La BGF Célèbre son jubilé d'argent", Radio Télévision Nationale du Burundi (in French), retrieved 2024-10-31
  • Historique de la BGF (in French), BGF, retrieved 2024-10-30
  • Liste des SVT (in French), Banque de la République du Burundi, retrieved 2024-10-30
  • Nkurunziza, Janvier D.; Ndikumana, Léonce; Nyamoya, Prime (August 2012), The Financial Sector in Burundi (PDF), National Bureau of Economic Research, retrieved 2024-10-31
  • TDB Group unlocks funding for women-led small and medium enterprises in Burundi via its SME programme, TDB Group, 20 April 2021, retrieved 2024-10-31
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