BK sensitizes traders to buy shares

KAYONZA/RWAMAGANA – Bank of Kigali officials led by the Director General James Gatera called upon Rwandans across the country, to buy shares in the bank. The government is selling 45 percent of its shares in the bank; 60 percent of these shares will be bought by Rwandans and other people in the region, while the other 40 percent will be sold elsewhere in the world. James Gatera told residents of Rwamagana and Kayonza district that they should not hesitate to be share holders in the bank. BK boss, who addressed hundreds of residents in the two districts dominated by traders, said that buying shares in a corporate institution like BK is a short cut to get rich. “This is how people you see around the world get rich...just buy shares in promising institutions and enjoy huge profits. BK is committed to uplift the economic status of Rwandans in the same way,” he said. “But because this program is new, it is the duty of BK to educate Rwandans on how to buy and benefit from the share offer by government. BK ranks high among all commercial institutions in the country, so buying shares in it means big”. Reacting to worries expressed by some traders that they may end in losses, in case the bank makes losses, the DG said that BK has enough financial reserves to cater for any eventualities. He at the same advised women to go for sustainable and credible projects rather relying on grants for their livelihoods. “There is no free money...we have enough money to give women, youth and the retired. But these are loans they will pay back as a principle”. Robert Hakizimana, a businessman said that after understanding how one can benefit from buying shares, he was going to buy quite a substantial chunk of the shares. He however, noted that sensitization should continue for some time, to make people understand what it really means to be a share holder in a bank. “For sure, some of us don’t believe we can be share holders in such big financial institution. It is that kind of fear that is likely to keep us away...but for my case, I will give it a benefit of doubt,” he said.The 45 year old bank has 9 branches in Eastern Province. Ends