Who we are
Welcome to BANK OF AFRICA
BANK OF AFRICA – UGANDA Ltd. is an "all public" Commercial Bank regulated by the Central Bank of Uganda operating under commercial banking license no. A1.001. providing a full range of banking products and services to large corporate companies, individuals, as well as Micro, Small, and Medium Enterprises.
The Bank started its operations in January 1985 as a small deposit-taking private company within a family business conglomerate. In July 1991, it evolved into an investment bank. In November 1996, it was granted a commercial banking license as Sembule Commercial Bank. In October 1997, the shareholders of the Bank successfully secured co-investors in the form of Banque Belgolaise of Belgium (then part of Fortis Group) and The Netherlands Development Finance Company (FMO) who recapitalized the Bank and rebranded it as Allied Bank International. It was run under this arrangement until December 2006 when Banque Belgolaise divested its ownership to BANK OF AFRICA GROUP SA an international banking consortium. The change in ownership was accompanied by a change of name to BANK OF AFRICA - UGANDA Ltd. With the acquisition of a controlling stake in BANK OF AFRICA GROUP SA in 2010, BMCE BANK OF AFRICA became the ultimate holding company of the Bank.
Started as Sembule Investment Bank, was later granted a commercial banking license and became Sembule Commercial Bank.
The Bank attracted two strategic investors, Banque Belgolaise and the Netherlands Development Finance Company. The Bank was renamed Allied Bank after a staff competition to find a new name.
The Bank joined the Bank of Africa Group, with FMO and Central Holdings Ltd. as participants in the investment.
BMCE Bank acquired majority interest in Bank of Africa Group and effectively became the reference shareholder.
As strong as a group.
As close as a partner.
VisionTo be the preferred bank in our chosen market segments
ValuesTransparency, Expertise, Proximity and Responsibility
To serve our customers with efficiency and courtesy
To contribute to the development of our stakeholders
To optimize growth through synergies and BOA group
To promote the growth and stability of our economy
BANK OF AFRICA in Uganda is a subsidiary of one of the world’s leading international banks – BMCE BANK OF AFRICA Group. Our local and global footprint enables us to bring world-class financial services and connect our customers to opportunities all over the world.
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