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August 14, 2022
Finance Technologies

Kenyan lender I&M to become majority owner of Uganda’s Orient Bank

I&M Holdings, a Kenyan lender, plans to acquire a 90% stake in Orient Bank Uganda worth $18.6 million (KES 2 billion), Business Daily Africa reports. I&M is expanding its banking operations beyond Kenya, Rwanda, Tanzania and Mauritius The deal points to a growing interest among Kenyan lenders to boost their presence in regional markets where financial services adoption is lower. Other rivals showing similar interests in Eastern Africa include KCB Group, Equity Group, and DTB Group. All these players are growing their earnings and reducing their reliance on the Kenyan market. Whilst Kenya has 39 lenders, there’s only 24 banks…
Kenyan lender I&M to become majority owner of Uganda’s Orient Bank

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