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
-
Ghana Restarts Tema Oil Refinery to Cut Fuel Imports After 4-Year Halt
18:15
-
Copper Nears $13,000 as Tariff Bets and Supply Shocks Strengthen Bullish Case
17:27
-
Central African Republic Votes in Presidential and Long-Delayed Municipal Elections
16:59
-
Tanzania Fisheries on Track for $300m Export Milestone After 41% Volume Surge
16:24
-
UNICEF StartUp Lab Opens Applications for Sixth Cohort in Ghana
13:17
-
Chad Steps Up Rollout of ‘Tchad Connexion 2030’ in Talks With Huawei
12:42
-
Benin Developer Osee Soke Builds AI Tools to Ease Communication for the Deaf
12:29
-
Neptune Group Begins Marketing Own LPG Brand in Cameroon
11:55
-
Rwandan Fintech Kayko Raises $1.2m To Scale Its Platform
11:41
-
Routd’Af Confirms Salary Arrears but Denies 11 Months Without Pay
16:25
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
MTN Zambia launched a Mastercard-powered virtual card enabling secure global online payments for u...
Ghana’s Tema Oil Refinery restarts after four-year shutdown TOR processes 28,000 bpd, about 62% of capacity Restart aims to cut fuel imports...
Copper prices near $13,000 a tonne on tariff speculation Traders rush shipments to U.S., tightening global inventories Supply...
Central African Republic holds presidential election as Touadéra seeks third term Vote held alongside legislative and local polls, first...
Exports surged 41% to nearly $289 million in 2024, a multi-year high, as the sector now targets the $300 million revenue threshold for...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...