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Browsing: Arise
Arise, an African investment company has acquired 34.9 per cent of Rabobank shares in the Dar es Salaam Stock Exchange (DSE) listed NMB Bank Plc. Notably, NMB is one of the largest and most successful banks in Tanzania.
The buyout actually took place late last year when on 28 December 2020, having been approved by the Capital Market and Securities Authority (CMSA) in Tanzania for the transfer of 174,500,000 NMB Bank Plc shares owned by Rabobank to Arise.
The share transfer process was completed on 31 December 2020.
According to Arise Chief Executive Officer, Mr Deepak Malik the conclusion of the share transfer is a significant milestone for the company which partners with sustainable, locally owned financial services providers in Sub -Saharan Africa.
“The organization’s core mandate is to partner with local sustainable financial institutions to strengthen and develop effective, inclusive financial systems in Africa to contribute to economic growth …