Bank of Africa Uganda Limited (BOA Uganda) is a well-established commercial bank licensed by the Bank of Uganda, the country’s central bank and national regulator. Headquartered at 45 Jinja Road in Kampala, the bank operates as a medium-sized financial services provider, catering to corporations, SMEs, and retail clients. As of December 2019, BOA Uganda reported total assets of UGX 803.07 billion (about US$218.25 million) and shareholders’ equity of UGX 123.54 billion (around US$33.58 million).
BOA Uganda is part of the wider Bank of Africa Group, a Pan-African financial powerhouse headquartered in Bamako, Mali, with operations in 31 countries across Africa and Europe. The group has over €23.8 billion in assets, employs 12,500 staff, and serves 4.5 million customers through more than 1,200 branches. This broad network strengthens BOA Uganda’s ability to deliver world-class banking services.
The bank’s roots trace back to 1984, when it was first established as Sembule Investment Bank (SIB). In 1996, it was acquired by Banque Belgolaise and the Netherlands Development Finance Company, becoming Allied Bank. Later, in October 2006, new investors—including Bank of Africa (Kenya), Aureos East Africa Fund LLC, and Central Holdings (Uganda) Limited—acquired the institution and rebranded it as Bank of Africa Uganda Limited.
Today, BOA Uganda offers a comprehensive suite of commercial banking services ranging from corporate and SME financing to retail solutions. Its services are particularly popular among multinational companies, mid-sized local enterprises, and small retail businesses. The bank emphasizes customer satisfaction, financial stability, and Pan-African integration, positioning itself as a trusted financial partner in Uganda’s banking sector.
With its strong heritage, international backing, and commitment to innovation, Bank of Africa Uganda Limited continues to play a pivotal role in strengthening Uganda’s financial industry while providing clients with reliable, tailored banking solutions.
Business Information
- Name: Bank of Africa Uganda Limited
- Abbreviation: BOA Uganda (BOAU)
- Industry: Commercial Banking
- Parent Company: Bank of Africa Group, Bamako, Mali
- Headquarters: Station House, Plot 45 Jinja Road, Kampala, Uganda
- Total Assets (2019): UGX 803.07 billion (US$218.25 million)
- Shareholders’ Equity (2019): UGX 123.54 billion (US$33.58 million)
- Website: https://www.boauganda.com
