BK Group Chair Marc Holtzman lays out expansion plan

BK Group Plc, the largest financial institution in Rwanda, reported a net income of $30.7 million, reflecting a 17.2 percent increase year-on-year. With return on average assets and equity reaching 3.4 percent and 17.2 percent respectively for the period ended December 31, 2018, the lender is poised for further growth and expansion. Group Chairman Marc Holtzman recently sat down with CNBC Africa to outline the company's expansion plans and the road ahead. Holtzman highlighted Rwanda's impressive 8.6 percent GDP growth under President Kagami's leadership, creating a conducive environment for the bank to thrive. As a major player in the market, BK Group aims to capitalize on this growth and enhance customer service through a comprehensive digital transformation strategy. The Chairman emphasized the importance of financial inclusion, particularly in the agriculture sector, where only 6 percent of bank lending currently goes, despite the sector contributing 30 percent to the economy. To address this gap, BK Group will launch a revolutionary digital app called Transform Africa, enabling farmers to access loans, insurance, and other financial services. Holtzman praised the innovative work of BK Tech House under Regis's leadership, positioning the company at the forefront of Fintech advancements in Rwanda.