Canadian mortgage firm Westbridge Mortgage has begun operations in Rwanda, a development that CEO JD Diabira says will usher in banking expertise in the areas of credit risk, inclusive growth and practical outlook.
Also, the mortgage institution will be seeking to acquire a financial institution in Rwanda that focuses on retail operations or on the wholesale and corporate segments of the banking space.
Diabira said: “We are an acquisition-minded institution, and we do have what we would consider a healthy experience acquiring and turning around financial institutions. Typically, small to mid-sized lenders with good management teams in place are what we look for.”
Westbridge Mortgage REIT is a top Canadian mortgage lending and trading company. It has been operating under the name Westbridge Mortgage since 2014 and it is based in Ottawa and Calgary.
Between 2002 and 2014, Westbridge operated as a subsidiary of Riskmont Institutional Loans Trading, a mortgage securitization firm that was sold to United States interests in 2013.
The mission of the company is issuing, holding, securitizing and trading commercial mortgages in major African markets, with a strong dedication to responsible lending, financial inclusion and gender equality.
Westbridge Mortgage also operates in Mauritania.
