Inauguration of a new branch at Bujumbura Port : 3rd Turning point in our distribution policy

Interbank Burundi launched its second phase of the establishment of its branches or cash-desks in the capital Bujumbura while it inaugurated the tenth branch of its distribution network at Bujumbura port on Friday, January 31st, 2003. An event which falls in the framework of the celebration of the Bank's tenth anniversary, thematically dedicated to the Interbank Calendar for 2003 ; we may recall that the inauguration was attended by several guests, about 1,500 people, among them a representative of the Belgolaise, Mr Reginald Thibaut de Maisières.

Organized soon after the Ordinary General Meeting of Shareholders at Novotel Hotel, the inauguration ceremonies were concluded by a cocktail at Cercle Hellénique de Bujumbura.

Georges Coucoulis

Two important speeches were delivered, a welcoming speech by the Chairman of the Board of Directors, Mr Georges Coucoulis, the speech delivered by the Minister of Finance, Mr Athanase Gahungu. The two personalities widely highlighted the importance of the achievements of the BANK, be it in the commercial field, with 10 branches and twelve operational sites, or in the financial field, with its off-tax outputs for the year 2002 which, for the third consecutive year, are amounted over the billion i.e. 1,085.3 M

Athanase Gahungu

1. Why to establish a branch at Bujumbura Port ?

The Port of Bujumbura is undoubtedly the major entry and exit point of goods for the whole country, with nearly 88 % of imports and 86 % of exports.

Flows of goods and services together with financial flows in terms of import and export duties directly paid at the port, but also payments for services like handling or EPB security.

Taking into account the leading role played by Interbank Burundi in the country's external trade and therefore in those flows, Bujumbura port was a key site for the second IBB field branch after the counter at the BRARUDI (Burundi Breweries Company).

With a three-fold objective of supplementing the counters in town, bringing services closer to the beneficiaries and thus better respond to the expectations of a clientele segment : importers - exporters.

An objective now achieved !

As a matter of fact, Bujumbura Port branch is computer wise interconnected to the central system and the whole network, in non stop and real time, which enables our clients in Bujumbura and inside the country, to pay to the customs and EPB directly through our branch without resorting to our counters in town, with appreciable gains in terms of time in their clearance and export operations.

2. Assessment.

In less than two months after its inauguration, the Bujumbura Port branch has recorded :

· average daily payments amounted to 15 M ;
· average daily withdrawals amounted to 30 M ;
· and the certification of checks for nearly an average of 50 M per day.

A portfolio of operations which should grow quickly with the opening of the tax collector's account in the books of the commercial banks by the Ministry of Finance.

3. The Branch Management

Since its establishment, Bujumbura Port branch is managed by Mrs Mireille NIRAGIRA, previously Manager of Quartier Asiatique Branch that we presented while we made its assessment. Her qualities of analysis and supervision qualified her as the right candidate to run the Bujumbura Port entity.

IBB-News /18 March 2003
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