Kibo is invested in I&M Bank in Rwanda.
I&M Bank (Rwanda) Ltd was incorporated in 1963 under the name of Banque Commerciale du Rwanda S.A. It is the oldest financial institution and the second largest bank in Rwanda, providing a broad range of services to corporate, SME and retail consumers. An I&M – led consortium purchased and subsequently rebranded the bank in 2012. With its strong market position and as part of a regional banking group, I&M Bank (Rwanda) is well positioned to benefit from the compelling growth in Rwanda’s banking sector as economic development and financial inclusion contribute to the maturing of the financial services industry.
Kibo played a pivotal role in supporting the successful Government of Rwanda’s sale of its residual stake in the bank via an initial public offering on the Rwanda Stock Exchange.
The investment has been exited in 2021.