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- 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,