BK Group has appointed Jean Philippe Prosper as the new Chairperson of the Board of Directors, replacing Mark Holtzman who has since moved to Rwanda Capital Markets. The appointment was made following the resolution of the Annual General Meeting of Shareholders of BK Group Plc Board held on May 19. ALSO READ: BK registers Rwf59.7 billion net profit The Group CEO, Beata Habyarimana, said that there are major milestones achieved under the leadership of Holtzman, from Rwf280 million to Rwf1.6 trillion in assets, as well as expansion from Bank of Kigali to other subsidiaries including Insurance, Tech House, Capital, and BK Foundation. “With the new leadership, we expect continued expansion in terms of market share, products and services we are offering, especially in our digital transformation journey,” she added. Prosper comes in with a wide range of experience in the financial sectors, worth noting that he has been consecutively the International Financial Corporation (IFC) Vice President of Sub Saharan Africa, Latin America and the Caribbean and the IFC Vice President of Global Clients services from 2013 to 2015. Prior to that, he was the regional coordinator for Mexico, the Andean Countries, Central America, and Panama for the Inter-American Investment Corporation (IIC) of the Inter-American Development Bank. He also sits on several corporate boards as an independent director. Holtzman noted that Prosper comes into a situation where he takes on a strong institution to make it even stronger. He noted that currently, there is global pressure on emerging markets but that is going to change in the next two years, and when it does, “smart investors are going to realize that Rwanda is one of the most attractive international investment destinations.” Dividend payment BK Group also announced the dividend payment of Rwf32.5 for each ordinary share, representing 50 percent pay-out ratio of the Group’s net income. In 2022, it recorded Rwf59.7 billion net profit, representing a 15.1 percent increase from Rwf51.9 billion in 2021. The group is currently listed on both the Rwandan Stock Exchange (RSE), having floated its shares in 2011, and the Nairobi Stock Exchange (NSE) in 2018. ALSO READ: Why BK Group is listing with Nairobi Securities Exchange Habyarimana said that they have witnessed a strong appetite from Kenyan shareholders, who in turn saw a positive yield from their investments in the group. The Group’s activities range from retail and corporate banking to asset management and investment banking as well as offering a comprehensive range of non-life insurance products as well as innovative enterprise solutions that stimulate growth in the Rwandan digital space.
