Canadian mortgage firm Westbridge Mortgage has made foray into Rwanda, a move that CEO JD Diabira says will bring in a combination of banking expertise in credit risk, inclusive growth and practical outlook.
The firm will also be looking to acquire a financial institution in Rwanda that could either be small to mid-sized lender operating in retail operations or focused on the wholesale and corporate segments of the banking arena.
“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,” said Diabira.
Westbridge Mortgage REIT is a leading Canadian mortgage lending and trading company. It has operated as Westbridge Mortgage since 2014, based in Ottawa and now Calgary. From 2002 to 2014, Westbridge operated as a subsidiary of the mortgage securitization firm Riskmont Institutional Loans Trading, which was sold to U.S. interests in 2013.
The company’s mission is to issue, hold, securitize and trade commercial mortgages in key markets in Africa, with a strong commitment to responsible lending, financial inclusion and gender equality.
Westbridge Mortgage has a footprint in Mauritania as well.