US based Fund Manager acquires 15pc Stake in Jamii Bora For Sh600M

US based Fund manager Equator Capital Partners LLC has acquired a 15 percent stake in Kenya’s Jamii Bora Bank for approximately Sh 600 Million.

The deal was done through Equator Capital Partners’ Mauritius-based Sh8billion private equity fund, ShoreCap II Limited, which is biased towards SME banks and microfinance institutions. The injection will help the bank prop its thinning capital buffers.

READ; Central Bank Kenya to resume licensing of new banks

Equator Capital through ShoreCap II will now become the second largest shareholder after Asterisk Holdings Limited which holds 24.11% stake in the Tier three bank.

Commenting on the deal, Jamii Bora CEO Sam Kimani said they were excited to have Equator Capital Partners as a strategic partner and significant shareholder of the bank.

Related; 

Mauritius 2nd biggest company set to acquire Fidelity Bank of Kenya

Barclays Africa Group Holds Pioneer Forum On Emerging Issues