Morocco’s Attijariwafa to buy Cogebanque of Rwanda

Rwandan womanMoroccan bank Attijariwafa says it has signed a deal to buy a majority stake in Rwanda’s Cogebanque for an undisclosed sum.

The announcement came alongside a visit to Rwanda by the Moroccan king, Mohammed VI. A statement from the Casablanca-based firm says the transaction is subject to a sale and purchase agreement and regulatory approval.

“Cogebanque, headquartered in Kigali, is one of the largest banks operating in Rwanda with 292 employees and 23 branches,” says the statement from Attijariwafa.

Founded in 1904, Attijariwafa is present in 25 countries and involved in a range of banking services including private banking and asset management.

As of June 30, Attijariwafa had total assets across the bank of more than $42 billion. It is listed on the Casablanca Stock Exchange.

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