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BPR shareholders count losses as the bank fails to pay dividends

Yanditswe Jan, 19 2020 11:20 AM | 2,104 Views

Former Banque Populaire du Rwanda (BPR) Shareholders before the Bank was sold to Atlas Mara investors say they never received Dividends for their investment.

Officials in Central Bank say this is not right and that they should have been given what was legally due to them.

BPR was bought by Atlas Mara in 2016; with the Institution being a Savings Cooperative from 1975 to 2004 it officially became a Bank.

Former shareholders say they have not received their dividends, let alone information as to when they are going to get their money.

With up to 600,000 Account and Shareholders in the Bank having submitted formal requests pertaining to their money and dividends, Bank Officials are saying all relevant information should be available by the end of March as their regulations require.

There had been talks that Equity Group could acquire shares in Atlas Mara's Banks in four African Countries, including Rwanda; but those talks apparently stalled and could be resumed this year.

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