Daily Monitor
Tuesday May 04 2021
Summary
The acquisition sees I&M take 90% of the bank from the UK-based investment group 8 miles LLP and Morka Holdings Limited, a financial company registered in Mauritius.
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A Kenyan banking group, I&M Holdings has entered the Ugandan market with the acquisition of Orient Ban Ltd, the 12th largest in Uganda.
The acquisition sees I&M take 90% of the bank from the UK-based investment group 8 miles LLP and Morka Holdings Limited, a financial company registered in Mauritius.
I&M and Orient Bank signed the acquisition agreement in July 2020, which was completed last month, after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya, and the COMESA Competition Authority.