Browsing: British International Investment (BII)

• • The transaction marks the successful outcome of BII and I&M’s equity partnership for over 7 years as AfricInvest takes over.
  • The institution said that the sale to a like-minded investor is one of the most significant transactions in East Africa in recent years and represents a vote of confidence in the region’s financial services sector.
  • It is listed on the Nairobi Securities Exchange, and the Rwandan subsidiary I&M Bank Rwanda PLC is listed on the Rwanda Stock Exchange.

  British International Investment (‘BII’)

• British International Investment (‘BII’), the UK’s development finance institution and impact investor, has sold its 10.1 per cent stake in I&M Group PLC, the Eastern African banking group, to AfricInvest, a leading Pan-African Asset Management platform.

  The acquisition was made through East Africa Growth Holding, a special-purpose vehicle owned by AfricInvest.

• I&M Group PLC is a leading banking group in Eastern Africa with a presence in Kenya,

• Safaricom targets a customer base of at least 10 million across 25 cities in the next year.
• Since Safaricom Ethiopia switched on its mobile telecommunications network, it has grown coverage from an initial 11 to 22 cities.
• Safaricom Ethiopia is building a wholly-owned mobile network and also has infrastructure sharing deal with state-owned Ethio Telecom.

Safaricom is now targeting a customer base of at least 10 million in Ethiopia in the next one year. The move is tailored to shake up the country’s telecommunication industry. (nelsongreerpainting) Latest developments follows huge investments in the country, with cash transfer service M-PESA now on the table.

Since Safaricom Telecommunications Ethiopia switched on its mobile telecommunications network and services in Addis Ababa in October last year, major inroads have been made in the second-most populous country in Africa.

It has grown coverage from an initial 11 cities when it launched to 22. …