Sector: 
Banking
Country: 
Tanzania
Date of Investment: 
January 2010
Deal type: 
Buy-Out and Expansion Capital

I & M Bank (T) is a commercial bank operating in Tanzania. Prior to its acquisition by a consortium led by I&M Bank of Kenya and including The Kibo Fund and Proparco, it traded as CFU Bank and provided basic banking services to a small client base in Dar-es-Salaam business district. Whilst the Tanzania economy is one of the fastest growing in the region, the banking sector is characterized by a low penetration rate at below 15%, ranking amongst the lowest in Africa, thus providing tremendous growth opportunities. 

Since the acquisition in 2010, the bank has undergone significant changes and is being transformed into a modern and customer centric financial institution with a growing number of branches across the country.

This investment has been successfully exited in 2018.