Aktif Bank is the first foreign-invested (non-African) commercial bank to open an office in Rwanda. It is now closer to business partners in East Africa and is improving the support it provides to Turkish exporters. Following approval from the BRSA (Banking Regulation and Supervision Agency) and the National Bank of Rwanda, Aktif Bank will be able to expand its operations in Africa by adding more banks to its current network of 350. Aktif Bank has become the industry leader in bridging the gap between Africa and Turkey by offering various services as part of its foreign trade operations.
According to Aktif Bank’s Executive Vice President, Muzaffer Suat Utku, the first expansion to Kigali, Rwanda’s capital city, is based on the country’s accessibility to other African countries, as well as its stable political and economic environment. The country has strategic significance due to its geographical location. Rwanda is also one of the African countries with critical potential, with its annual growth rate expected to be around 10% in the coming year. In addition to the new venture, Turkey is exploring additional financial sector cooperation opportunities with Rwanda as it strives to become Africa’s financial hub through the Kigali International Financial Centre (KIFC). KIFC is an initiative that aims to position Rwanda as a preferred financial hub for investments on the African continent and to develop alternative capital mobilization frameworks.
