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I&M,banques, immeuble,batiment
Proparco is renewing its commitment to I&M Bank. By supporting the expansion of this microfinance institution, PROPARCO is contributing to the development of the private sector in Tanzania and especially SMEs, which only have limited access to bank credit.
Client presentation

I&M Bank Tanzania Limited is a commercial bank located in Tanzania with its headquarters in Dar es-Salaam. It is a subsidiary of the Kenyan group I&M Bank. I&M Bank was established in Tanzania in 2010 through the acquisition of CF Union Bank.

Project description

This project involves a participation in the issue of preference shares reserved for current shareholders, in order to support the bank’s development and strengthen our current shareholding.

This investment follows on from the various investments made in the bank in recent years, firstly through equity to support the takeover by I&M of the Tanzanian bank CF Union Bank, then through debt to contribute to strengthening its long-term resources and to the expansion of its activities in Tanzania. 

Project impact

The project, by supporting the expansion of the financial institution, will contribute to the development of the private sector in Tanzania. I&M specifically wishes to position itself more in the niche but high-potential segment of SMEs, which have limited access to bank credit, in order to support them throughout their development.

24/05/2018
Date of signature of the project
Tanzania
Location
Financing tool
242 000 Euros
Amount of funding
TZS 620,000,000 equity investment
Financing details
I&M BANK TANZANIA LIMITED
Client
CES