Who we are



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.

  • 1985

    Started as Sembule Investment Bank, was later granted a commercial banking license and became Sembule Commercial Bank.

  • 1996

    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.

  • 2006

    The Bank joined the Bank of Africa Group, with FMO and Central Holdings Ltd. as participants in the investment.

  • 2010

    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 all our stakeholders
To optimize the growth of BOA Group through synergies and common development plans
To promote the growth and stability of the economies that we operate in


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.

Discover our global and local reach today

BANK OF AFRICA GROUP SA started its operations in 1982 and currently has its headquarters in Dakar, Senegal. It operates in 18 countries, 17 of which are in Africa and one in France. Its business includes commercial banking, leasing, brokerage, investment banking, and asset management. Since 2010, BANK OF AFRICA GROUP SA has been majority-owned by BMCE BANK OF AFRICA, the second-largest private bank in Morocco which is floated on the Casablanca Stock Exchange. BMCE BANK OF AFRICA brings strong strategic and operational support to BANK OF AFRICA GROUP as well as direct access to international markets as a result of its presence on four continents

Discover our global network

Large Banking GroupOperating in 19 countries across 4 continents
Group HeadquartersBMCE Headquarters in Casablanca, Morocco
Over 6,044 Employees
€ 10,2B Bn Total AssetsTotal assets
681.4 M
531 Branches

Local network

32Branches countrywide
32ATMs across the country

Head Office
in Kampala