NCBA Bank Rwanda has officially opened its new branch in the Gisozi Sector, marking a significant step in its strategic expansion across the country. This new branch is part of the bank’s broader plan to establish a robust retail presence in key locations, including Rubavu, Rusizi, and Nyagatare, by the end of 2024.
Recognizing Gisozi as a thriving hub for construction, NCBA Bank aims to be a key financial partner for businesses and individuals operating in this vital sector.
“By coming to the backbone of Rwanda’s real estate industry, we are not just here to empower the construction sector in Gisozi but to support real estate and construction across the country,” NCBA’s board chairman, Ben Rugangazi, said.
Gisozi is known for its concentration of construction material importers and the bustling fabrication market of “Gakinjiro.” The new branch will offer tailored financial solutions to meet the unique needs of these traders and technicians, including flexible loan products, competitive deposit accounts, digital banking services, and expert financial advice.
“Through our products like Contract Finance, Trade Finance, Overdrafts, as well as Mortgage 105, we have been driving construction and home ownership from the demand side. We are now here to also focus on the supply side,” Acting Chief Executive Officer, NCBA Bank Rwanda, Nicholas Musyoka, said at the launch.
Rwanda’s construction sector has seen significant growth, with the government earmarking six secondary cities—Rusizi, Rubavu, Musanze, Huye, Muhanga, and Nyagatare—to foster their development. These secondary cities present enormous opportunities, especially in real estate, infrastructure development, manufacturing, and agro-processing. NCBA has already opened a branch in Musanze and unveiled plans to open branches in Nyagatare, Rusizi, and Rubavu to bring its total footprint in Rwanda to ten branches.
In line with its commitment to sustainability, NCBA Bank has also installed an electric vehicle (EV) charging station at the Gisozi branch. This initiative underscores NCBA Bank’s dedication to promoting clean energy and reducing its carbon footprint.
“We believe that sustainable banking is essential for a greener future. By investing in EV charging infrastructure, we are supporting the government’s efforts to promote electric vehicles and demonstrating our leadership in environmental responsibility,” Head of Retail Banking at NCBA Bank, Samuel Gatari said.
The housing sector in Rwanda targets a steady annual increase in building and access to housing mortgages. By 2050, Rwanda needs to construct 5.5 million dwelling units to cater to a projected population of 22 million.
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