European lenders form new $660m African investment firm
A Banque Populaire du Rwanda stand in Kigali. A consortium of three European lenders is set to acquire a 14.6 per cent stake in BPR, Rwanda’s second largest bank by assets. PHOTO | FILE
A consortium comprising Dutch lender Rabobank, Norwegian development body Norfund, and private sector development bank FMO is set to acquire a 14.6 per cent stake in BPR, Rwanda’s second largest bank by assets.
The three European lenders have formed the company named Arise by combining their investments in financial services providers in over 20 countries in sub-Saharan Africa.
