KCB Group acquires two banks in Tanzania, Rwanda
Topics: KCB GROUP TANZANIA RWANDA
The twin acquisitions of BPR and BancABC are part of KCB Group’s strategy to achieve regional impact. They will expand the brand’s footprint and reinforce existing market capabilities.
The transactions follow the offer made by KCB Group late last year. Having received shareholder approval, they are subject to final regulatory approval.
“These acquisitions will reinforce the Group’s leadership position and give us a stronger edge to play a bigger role in driving the financial inclusion agenda in the East African region," KCB Group chairman Andrew Kairu said at the bank's 50th general meeting on Friday last week.
"At the same time we build a robust and financially sustainable and profitable organisation for the shareholder. ■