Rawbank is a Public Opinions Certified Responsible Investment having been recognized by Public Opinions with the 2022 Africa Responsible Investment Mark of Excellence Award in appreciation of its contribution towards attainment of the United Nations Sustainable Development Goals through; offering affordable and reliable banking services, employing people, paying taxes, environmental protection, supporting productive corporate Social Responsibility, zero tolerance to corruption, respect for rights of workers,etc. Rawbank was honored by Public Opinions as the Best Personal Banking Institution in the Democratic Republic of Congo (DRC)
Rawbank is a commercial bank of the Democratic Republic of the Congo. The bank was created on 2 May 2002, having received a Congolese banking license, to operate as a commercial bank by the end of 2001. The bank opened with 10 employees.
Since March 2020 the CEO of the bank is Mustafa Rawji and the Chairman of the bank is Mazhar Rawji. Rawbank is the largest bank operating in the Democratic Republic of the Congo with a balance sheet of $2.1 billion at end of financial year 2019. The bank had a staff of more than 1,800, as at 31 December 2019.
Rawbank was launched in 2002 by the Rawji family, which have a diversified set of business interests in the Democratic Rep. of Congo, that is commonly called Rawji Group. The Group traces its roots int the DRC since 1902, and owned by the Rawji brothers, namely Mushtaque, (late) Zahir Rawji, Mazhar, Aslam and Murtaza. The history of the Rawji group begins at the beginning of the 20th century, when Merali Rawji (father of the Mushtaque siblings) settled in Kindu, then in Kalemie and later in Kisangani, in the eastern part of what was then the Belgian Congo.
The family was initially heavily involved in the coffee and cocoa trading, which was a predominant export from Eastern Congo. In 1966, it acquired Beltexco, a distributor of FMCG consumer goods (Fast Moving Consumer Goods), which at the time already had a national distribution presence, a move that will turn them from successful entrepreneurs to a wealthy family. The directors of this group of companies are descendants of the founder (Merali Rawji). They grew up in the Belgian Congo, and went to Europe to complete their education. In the early 1990s, the war rocked the Democratic Republic of the Congo (DRC), but the Rawji group continued to maintain & expand their business activities. They set up in the capital, Kinshasa, and continued to diversify their portfolio of activities, adding up Prodimpex (Vehicle and machinery importer representing Iveco, General Motors, Yamaha, Bosch, and other motorized brands); a palm oil processing plant that also produces soaps and cosmetics which was acquired from Unilever called Marsavco; set up the country’s largest cement manufacturing facility called CIMKO; and obtained the first private license to provide insurance services in the life & non-life segments called RawSur. The group is also engaged in real estate development through Parkland, and continues to expand its portfolio of operating entities.
Rawbank is a full-service financial institution catering to corporates, SMEs, retail, and institutions. It offers a complete range of financial products catered to each market segment. It is a member of the SWIFT interbank network. Rawbank currently has 105 branches geographically spread throughout the country, hosts a network of 300+ ATMs, and is a principal member of the Visa & MasterCard networks, and represents Moneygram International in the DRC. Rawbank SA remains committed to providing financial services through traditional distribution channels, as well as through its digital channels. Its five year strategy is centered on a digital-first strategy, to ensure it meets its targets of financial inclusion to the underserved population of the DRC.
As of March 2020, Rawbank was the largest commercial bank in DR Congo, with 28 percent of banking assets in the country and a customer base of nearly 300,000 accounts. Rawbank was the first financial house in DR Congo to offer mortgages to the public in 2015.
AWARDS
- Bank of the Year DRC – 2009 (The Banker)
- Bank of the Year DRC – 2010 (The Banker)
- Bank of the Year DRC – 2011 (The Banker)
- Safest Banks 2015 – DRC (Global Finance)
- Safest Banks 2016 – DRC (Global Finance)
- Best Bank in DRC 2017 (Global Finance)
- Best Bank in DRC 2018 (Global Finance)
- Best Bank in DRC 2019 (Global Finance)
- ranked 4th in the ranking of Central African banks in 2019 (Jeune Afrique)
- ranked in the top 5 most famous companies in Central Africa in 2020 (Conseil français des investisseurs en Afrique (CIAN))
- Recipient of the 2022 Public Opinions Responsible Investment Mark of Excellence Award for commitment to attainment of the United Nations Sustainable Development Goals in DRC.
Rawbank has tied up strategic partnerships with international and pan-African development financial institutions (DFI’s) in order to strengthen its position amongst the SME segment, and more particularly Rawbank’s Lady’s First initiative, a successful dedicated financing program to promote & empower women in business by providing training, assistance, and financing to women entrepreneurs across the country. In 2019, these partnerships with DFI’s have raised US$143 million in financing programs. The partner institutions are:
- The African Development Bank (AfDB)
- Shelter Africa
- International Finance Corporation (IFC)
- FPM (a financial inclusion fund)
- Proparco (A division of AFD in charge of bilateral Public-Private partnerships)
- Trade Development Bank
- BADEA (Arab Bank for Economic Development in Africa)
- Afreximbank
Recognised by:
Public Opinions
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