East Africa Growth Holdings has raised its ownership in I&M Group PLC to 15.14% by acquiring an additional 86.5 million new ordinary shares.
East Africa Growth Holdings Increases Stake in I&M Group
East Africa Growth Holdings has acquired shares valued at Ksh 4.19 billion, purchasing each share at Ksh 48.42. This significant investment elevates East Africa Growth Holdings to become the fourth largest shareholder in the I&M Group.
Backing by Global Impact Investors
East Africa Growth Holdings operates as a special-purpose vehicle supported by renowned global impact investors, including AfricInvest, FMO, and Norfund. Their involvement highlights confidence in the growth potential of I&M Group and the East African financial sector.
Strategic Partnership to Drive Growth and Innovation
Gauri Gupta, Group Director of Corporate Advisory & Sustainability at I&M Group PLC, states:
“This capital raise strongly endorses I&M’s strategic vision to be Eastern Africa’s leading financial partner for growth. Beyond the capital infusion, this partnership offers sector expertise, access to a broad investor network, and a shared dedication to deepening financial inclusion, fostering innovation, and embedding sustainability in our core business practices.”
The fresh capital injection will support I&M Group’s iMara 3.0 strategy, which aims to accelerate digital and retail transformation, expand regionally, and explore new growth opportunities to boost shareholder value.
FAQ’s
Who is East Africa Growth Holdings?
East Africa Growth Holdings is a special-purpose vehicle backed by global impact investors such as AfricInvest, FMO, and Norfund. It is focused on supporting growth investments in East Africa.
How much did East Africa Growth Holdings invest in I&M Group?
They invested Ksh 4.19 billion, acquiring shares at a price of Ksh 48.42 each.
What is the significance of this investment for East Africa Growth Holdings?
This investment makes East Africa Growth Holdings the fourth largest shareholder in the I&M Group.
How will this capital injection benefit I&M Group?
The funds will support I&M Group’s iMara 3.0 strategy, which focuses on digital and retail transformation, regional expansion, and unlocking new growth channels.
What strategic advantages does the partnership bring to I&M Group?
Beyond capital, it brings sector expertise, access to a broad investor network, and a shared commitment to financial inclusion, innovation, and sustainability.
Conclusion
East Africa Growth Holdings’ substantial investment in I&M Group marks a significant milestone, positioning them as a key shareholder. Backed by global impact investors, this partnership not only injects capital but also offers valuable expertise and networks. The funding will accelerate I&M Group’s digital transformation and regional growth plans under the iMara 3.0 strategy, reinforcing its vision to become the leading financial partner in Eastern Africa while advancing sustainability and economic inclusion.
