KCB to spend Sh6bn in buying Rwandan, Tanzanian banks
Tuesday May 11 2021
KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result. PHOTO | POOL
By VICTOR JUMA
Summary
KCB Group will spend a total of Sh6 billion to acquire two banks in Rwanda and Tanzania from London-listed Atlas Mara limited.
The amount has increased after KCB sought to make a full buyout of the Rwandan bank by making an offer to its minority shareholders who hold a combined 38 percent stake.
KCB Group #ticker:KCB will spend a total of Sh6 billion to acquire two banks in Rwanda and Tanzania from London-listed Atlas Mara limited.
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The East African
Wednesday February 03 2021
Mr. Marday Venkatasamy, Chairman, COMESA Business Council, speaks during the CBC-TDB high-level public-private dialogue held in Kigali, Rwanda on January 20, 2021. PHOTO | COURTESY
As the private sector struggles to adjust business models to the growing challenges presented by Covid-19, it has become clear that digital transformation is integral to the survival of industries. Affordable digital transactions are needed more than ever and there is a need to harmonize facilitative policies in all COMESA Member States.
Today’s financial inclusion agendas should consider the enablement of SMEs to leverage on retail digital solutions to access affordable, value-added digital financial services that also ensure appropriate safeguards for cross border transactions.
Top corporate deals of 2020
Monday December 28 2020
Cooperative Bank of Kenya officially acquired 90 percent stake in Jamii Bora Bank on August 21. FILE PHOTO | NMG
By BRIAN NGUGI
Summary
Some of the recent merger and acquisitions activity cut across key sectors including financial services, renewable energy and technology.
This is expected to intensify. Below are some of the top deals for 2020.
Some of the recent merger and acquisitions activity cut across key sectors including financial services, renewable energy and technology. This is expected to intensify. Below are some of the top deals for 2020.
Co-operative Bank acquires Jamii Bora Bank for Sh1bn
Equity assets hit Sh1 trillion mark
Thursday December 24 2020
By CONSTANT MUNDA
Summary
Managing director James Mwangi said the Sh1 trillion balance sheet puts the lender ahead of all banks in east and central Africa in asset value, helping improve its “visibility” to international investors.
The migration of Banque Commerciale Du Congo’s (BCDC’s) assets after acquisition on August 7, Mr Mwangi said, has catapulted Equity ahead of KCB Group #ticker:KCB whose balance sheet stood at Sh972 billion in September.
Equity Group #ticker:EQTY has crossed the Sh1 trillion asset threshold on transfer of newly-acquired Congolese bank’s wealth to its books, setting it on stage to compete for big-ticket financing deals on the continent.
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