Zigama Credit and Savings Bank

In today’s world, Zigama Credit and Savings Bank is a topic that has captured the attention of people from all walks of life. The importance of Zigama Credit and Savings Bank can be seen in its influence on society, politics, economics and culture. With the increasing relevance of Zigama Credit and Savings Bank in our lives, it is crucial to understand its impact and the implications it has on our daily lives. In this article, we will take a closer look at Zigama Credit and Savings Bank and explore its many facets, from its origin to its evolution over time. In addition, we will analyze how Zigama Credit and Savings Bank has marked a before and after in different aspects of society and how it continues to shape our present and future.

Zigama Credit and Savings Bank
Company type Private
Industry Financial services
Founded 1997
Headquarters Kigali, Rwanda
Key people
 James Ndahiro
Chairman
Emmanuel Bayingana
Chief Executive Officer[1]
Products Loans, Savings, Investments
Revenue Increase RWF:9.4 billion
(US$11 million) (2017)[1]
Total assets RWF:215.4 billion
(US$251.4 million) (2016)[2]
Number of employees
 124 (2011)
Website zigamacss.rw

Zigama Credit and Savings Bank (ZCSB), is a microfinance bank in Rwanda. The bank is one of the financial institutions licensed by the National Bank of Rwanda, the national banking regulator.[3]

History

ZCSB was established in 1997 as Zigama Credit & Savings Society (ZCSS), also referred to as Zigama CSS, with its primary mission to serve the welfare of Rwanda’s military families.[4] In 2011, the institution received a commercial banking license and rebranded to its current name.[5] Since Its formation, the cooperative
bank has accepted membership from Rwanda Police Force and Rwanda Correctional Services.[6]

Overview

The bank is a licensed cooperative bank, serving its members in Rwanda.[7] As of December 2012, the total asset valuation of the institution was in excess of US$143 million (RWF:90 billion).[8]

Ownership

As of December 2011, the detailed shareholding in the stock of Zigama Credit and Savings Bank are not publicly known. The bank is majority owned and administered by members of the Rwanda Defence Forces.[9]

Branch network

As of December 2011, ZCSB maintains branches at the following locations:[10]

  1. Main Branch — Kimihurura, Kigali
  2. Nyarugenge Branch — Nyarugenge, Kigali
  3. Kacyiru Branch — Kacyiru, Kigali
  4. Kanombe Branch — Kanombe, Kigali
  5. Kibungo Branch — Kibungo, Ngoma District
  6. Butare Branch — Butare, Huye District
  7. Ruhengeri Branch — Ruhengeri, Musanze District
  8. Cyangugu Branch — Cyangugu, Rusizi District
  9. Gisenyi Branch — Gisenyi, Rubavu District
  10. Byumba Branch — Byumba, Gicumbi District
  11. Kibuye Branch — Kibuye, Karongi District
  12. Nyagatare Branch — Nyagatare, Nyagatare District
  13. Gitarama Branch — Gitarama, Muhanga District

See also

References

  1. ^ a b Kelly Rwamapera (23 October 2018). «Zigama gets new boss». New Times (Rwanda). Kampala. Retrieved 28 October 2018.
  2. ^ Julius Bizimungu (31 March 2017). «Zigama-CSS records over Rwf6bn in profit, to start education scheme». New Times (Rwanda). Kigali. Retrieved 28 October 2018.
  3. ^ List of Licensed Banks In Rwanda Archived May 12, 2012, at the Wayback Machine
  4. ^ Karuhanga, James (30 November 2010). «Rwanda: Zigama Advised Against Becoming a Commercial Bank». The New Times (Kigali). Retrieved 30 August 2017.
  5. ^ Zigama Received Commercial Banking License In 2011 Archived April 26, 2011, at the Wayback Machine
  6. ^ Rwanda Prison Services Join Zigama
  7. ^ Zigama Licensed As A Cooperative Bank
  8. ^ «allAfrica.com: Rwanda: Zigama Credit and Savings Society Registers U.S.$4.7 Million Profit». allAfrica.com. Retrieved 14 February 2015.
  9. ^ Zigama Is Owned and Operated By Members of Rwanda Military
  10. ^ «::: Zigamacss.rw : Branches». zigamacss.rw. Retrieved 14 February 2015.[permanent dead link]