Bank of Africa is one of the largest financial service providers in Africa, they operate over a network of 18 countries mainly francophone, but they are now installed in anglophone countries including South Africa, Uganda, Kenya, Tanzania, and plenty of others. Established in 1982, the Bank of Africa Group is headquartered in Bamako, the capital of Mali. BOA is owned at 75% by the BMCE also known as the Bank of Africa Morocco. Their services vary from commercial banking, investment banking, and insurance, and total assets are valued at 8.7 billion euros.
BOA’s biggest priority is economic growth and the implementation of the banking sector in the countries most in need. To better target the African continent, BOA is divided into subsidiaries focusing on local expansion in member countries. It has now been 39 years that BOA operates, and they have widely expanded and diversified their activities. Since 2010, BOA’s objective is to institutionalize its operations and ensure a sustainable trans-African banking union.
BOA’s continuous effort to create a banking union between African emerging countries falls under six strategic axes:
BOA truly believes that digitalization is essential for the banking future. For instance, the payment platform SmartVisa is one of the biggest growing technology in West Africa and users can now manage their cards thanks to the cloud. On top of that, BOA has launched its first online banking platform BOAweb in 2019, and the application MyBOA in the WAEMU zone (Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo).
KiwiGo number one priority is to bridge the gap between frontier markets and the rest of the world by bringing technologies and services that improve lives and create new opportunities. On the other hand, BOA’s vision as well as many other banking institutions is to ensure a transition from traditional banking to digital banking. Not only that, BOA’s main objective is to be involved in local economies and create a bridge between finance and the African economy. Taking into account KiwiGo’s superapp infinite potential in Africa, and it’s token for favoring decentralized payments, BOA’s strategic goals are in perfect accordance with KiwiGo.