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.
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.
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.