In response to the evolving landscape of financial services in Rwanda, Unguka Bank PLC proudly announces its transition into LOLC Unguka Finance PLC. As per this transition, the company operates as a subsidiary of the LOLC Group, a multinational corporation renowned for its extensive expertise in the financial sector (www.lolc.com). This evolution is underscored by LOLC Group's acquisition of a substantial 90% shareholding, symbolizing a pivotal step forward in enhancing our presence and commitment within Rwanda's financial realm. This rebranding signifies not just a change in name but also a strategic fusion of Unguka's customer-centric approach with LOLC's global expertise. With this transformation, LOLC Unguka Finance PLC reaffirms its pledge to driving growth and fostering innovation within Rwanda's emerging markets. LOLC Holdings PLC, renowned for its extensive investment portfolio across Asia, Africa, and Australia, brings a wealth of experience to LOLC Unguka Finance PLC. Operating in 11 African nations and with investments spanning financial ventures in 21 countries, LOLC Holdings PLC boasts total assets valued at USD $4.8 billion as of March 31, 2023, firmly establishing its position as a diversified conglomerate across continents. Established in Rwanda in 2005, Unguka Bank PLC has showcased remarkable growth, underpinned by a commitment to financial inclusion and customer satisfaction. With a modest beginning fostered by 214 Rwandan shareholders, the company 's trajectory has been marked by substantial expansion, culminating in a share capital of Rwf5.1 Billion and total assets of Rwf32.2 Billion by June 2023. In 2022, the company achieved a net profit of Rwf728 Million, demonstrating its financial prowess and stability. The rebranding to LOLC Unguka Finance PLC embodies a visual language that reflects the fundamental values of integrity, innovation, collaboration, agility, excellence, and social empathy upheld by LOLC Group's financial institutions. The motto Enriching Lives underscores the company's relentless commitment to customer well-being, entrepreneurship, and livelihood enhancement. As LOLC Unguka Finance PLC embraces this new chapter, it is dedicated to advocating for the people, microenterprises, and SMEs in Rwanda. The launch of LOLC Unguka Finance PLC brings exciting new offerings to customers, including vehicle loan facilities (TEBUKA and TUNGA IYAWE) alongside a range of other enticing products and digital services. With a focus on recapitalization, adherence to best practices, and embracing technological advancements, the company stands ready to enhance service delivery and drive economic growth throughout the country. In line with the vision set forth by the BNR for the microfinance sector, LOLC Unguka Finance PLC aims to provide exceptional products and services, drawing from extensive global expertise within LOLC Holdings. The company expresses profound gratitude to its esteemed customers, dedicated staff, regulators, and stakeholders for their trust and support over the past 18 years. As LOLC Unguka Finance PLC charts its course in shaping the future of financial services in Rwanda, anticipation grows for a future characterized by shared prosperity and success.
