I&M Bank Rwanda welcomes new investor
Thursday, 19 March 2020 14:48
Investment fund AfricInvest Financial Inclusion Vehicle (FIVE), launched in 2017 and managed by private equity firm AfricInvest, has acquired a minority stake in I&M Bank Rwanda for an undisclosed amount.
The transaction was carried out through Africinvest Evergreen Investments, a special purpose vehicle formed by the firm. “We are delighted to partner with AfricInvest even as the Bank is looking to further expand its footprint in the country and strengthen its position as a leading financial services provider through pioneering digital innovation and championing financial inclusion,” said Robin Bairstow, Managing Director of I&M Bank Rwanda.
According to Julius Tichelaar, Partner at AfricInvest, this acquisition will contribute to consolidating the position of I&M Bank Rwanda in the country’s financial service sector. As of September 30, 2019, the bank posted a net result of 4.2 billion Rwandan francs against 4.9 billion at the end of September 2018.
Chamberline Moko
Live News
-
Kenya Road Project Secures $550 Million World Bank Support to Improve Horn of Africa Trade
18:48
-
Egypt Advances $100M Dry Port Project in 10th of Ramadan City
18:45
-
NSIA Banque CI, accountants’ body sign partnership to support SMEs in Côte d’Ivoire
18:42
-
Weekly Health Update | Health Funding Efforts Grow in Africa; Study Highlights Kidney Disease Risks
18:26
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
-
EU Funds Coastal Surveillance to Curb Illegal Fishing in Cameroon
20:54
-
Togo returns to regional market with 30 billion CFA francs bond offering on April 17
19:56
-
Togo, Benin move to formalize cross-border horticultural trade
14:32
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
World Bank to mobilize $550 million for Kenya road project Project to upgrade 508 km, boosting regional trade links Corridor to cut...
Egypt signs deal on $100 million dry port with EDECS, MEDLOG Facility aims to ease port congestion, shift freight from road to...
NSIA Banque CI, OEC-CI sign three-year SME support partnership Deal offers financing, training, and support for accountants and SMEs Aims to improve...
This week in Africa, health news highlights progress in kidney disease research, new investments in health security, and efforts to strengthen...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...