COGEBANQUE’s shareholders have expressed satisfaction with the bank’s performance last year and have decided to re-inject their dividends to further its operations.

This was revealed Friday by the COGEBANQUE Director General, Bonaventure Niyibizi, during their annual general assembly at a local hotel.

"The shareholders’ dividends will not be withdrawn but will be re-injected into the bank so that it can continue with its commercial operations. This came as a result of the shareholders’ satisfaction with the bank’s progress in 2008,” he said.

According to Niyibizi, new partners who came into the bank in 2008 injected Rwf 3 billion. He said the money had brought new energy and ideas into the bank which has enabled them to register good progress in the last one year.

Shorecap International representative, Kenny Nwosu, commended the bank saying that there have been tremendous progress and that the bank was in a good commercial position.

"The assembly has agreed to bring in best practices in order to ensure that the institution is well run,” he told the Sunday Times.

"We are going to focus on commercialisation of the bank and on how to make it grow.”

According to the assembly, COGEBANQUE is going to focus mainly on training its workers and recruiting more competent officers as well as expanding the branches country wide this year while sticking to their commitment of exceeding their clients’ expectations in order to earn the right of being the first choice in banking operations.

The bank which has been in the business since 1999, partnered with several international corporations in 2008.

They include Bio from Belgium, Shorecap International from the USA and AFRICINVEST from Tunisia and has since achieved the minimum capital share of Rwf 5 billion required by BNR.

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