Private Equity firm, AfricInvest, has acquired a minority shareholding stake in I&M Bank Rwanda for an undisclosed amount.
The shares were paid through Africinvest Evergreen Investments, a special purpose vehicle formed by the PE firm.
We are delighted to partner with AfricInvest even as the Bank is looking to further expand its footprint in the country and strengthen its position as a leading financial services provider through pioneering digital innovation and championing financial inclusion.Mr Robin Bairstow, Managing Director of I$M Bank Rwanda
I&M Bank (Rwanda) is the oldest financial institution in Rwanda. As a subsidiary of I&M Holdings Plc, it is listed on the Rwandan stock exchange. Apart from Rwanda, the Holding also has operations in Kenya, Tanzania and Mauritius. It is also listed on the Nairobi Securities Exchange.