Nabilah Safira
TechInAfrica – The Private equity management company, Kibo Capital Partners has completed the sale of its 6.01% stake in I&M Bank Rwanda (IMR).
IMR is the second-largest bank in the country.
The Kibo Fund II LLC acquired the stake back in April 2017, and the latest exit is its first full exit of the Fund II LLC.
“The Fund is pleased to have invested in the bank at the time of the IPO, a key moment in the bank’s expansion strategy, and supported it thereafter as it grew its customer base and embarked on a process of digitalization and innovation to better serve the Rwanda market”, concludes Thierry Hugnin, Managing Partner of Kibo Capital Partners Ltd.
Source: Weetracker.com
