Trending
- Kenya’s diaspora remittances surge to record $437 million in October
- China integrates mega logistics firms to ease trade with Kenya, Africa
- South Africa Inflation falls to a Four-Year Low Before Rate Decision
- A deep dive into how Africa’s hospitality industry is evolving to meet 2025 travel trends
- Green energy revolution in Kenya: How solar power is transforming rural communities
- Trump’s Presidential Win Influences Currency and Financial Decisions in Africa
- Gabon’s Referendum: the First Step Toward a Return to Civilian Rule
- COP29: Africa calls for fair GDP valuation of its $6 trillion natural wealth
Browsing: I&M Group PLC
-
- 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,
- With operations in Kenya, Rwanda, Tanzania, Uganda and Mauritius, I&M Bank has attributed 15 per cent profit growth to an increase in its operating income.
-
Its loan portfolio grew by 30 per cent to $2.4 billion, partly attributed to the extension of retail lending through digital platforms.
-
Customer deposits closed at $3.2 billion, a 33% increase year-on-year, attributed mainly to growth in current and savings accounts.
Nairobi Securities Exchange-listed lender I&M Group PLC has recorded a profit after tax of $101.5 million for the year ended December 31, 2023, up from $88.5 million, as it continued with its regional expansion.
The financial services provider, which operates in …
- I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company.
- Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries.
- She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA).
I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company.
Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries. She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA).
“The Board is pleased to welcome Ms. Ohaga …