I&M Group Acquires Majority Stake in Tanzanian Bank

I&M Group PLC has announced the successful acquisition of additional shares in I&M Bank (T) Limited (IMTz) in Tanzania. These shares were previously held by PROPARCO and Microfinance East Africa Ltd (MEAL).

In a notice dated Friday, January 16, 2026, the Group confirmed that the acquisition followed the receipt of all necessary corporate and regulatory approvals.

“The Board of I&M Group PLC is pleased to announce the successful acquisition of shares in I&M Bank (T) Limited, Tanzania (IMTz), which were previously held by PROPARCO and Microfinance East Africa Ltd (MEAL), following receipt of all corporate and regulatory approvals,” stated the notice.

I&M Group Acquires Majority Stake in its Tanzanian Subsidiary Bank

Following this transaction, I&M Group’s total shareholding in IMTz, including shares held by I&M Bank Limited, has increased from 84.9% to 95.5%, thus providing the company with a near-total controlling stake in its Tanzanian subsidiary.

The notice further highlighted that this move reflects the Group’s confidence in Tanzania’s dynamic financial sector and marks a significant milestone in IMTz’s growth journey. The Board of I&M Group reaffirmed its commitment to promoting economic development and financial inclusion in Tanzania.

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In their statement, the Board expressed appreciation to PROPARCO and MEAL for their long-standing partnership and support, which have played a crucial role in IMTz’s achievements to date.

Additionally, the Board announced that the statement, dated January 13, 2026, regarding the acquisition was issued with the approval of the Capital Markets Authority, in accordance with the Capital Markets (Public Offers, Listings, and Disclosures) Regulations, 2023. I&M Group PLC is regulated by both the Central Bank of Kenya and the Capital Markets Authority.

About the Bank

I&M Group PLC is a prominent financial services group in East Africa, listed on the Nairobi Securities Exchange and regulated by the Central Bank of Kenya as well as the Capital Markets Authority of Kenya.

The group provides a wide range of financial services, including corporate, business, and personal banking, wealth management, insurance, and advisory solutions across multiple markets. Its operations extend to Kenya, Uganda, Tanzania, Rwanda, and it has a presence in Mauritius through a joint venture.

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I&M Bank is the group’s flagship commercial banking subsidiary, originally established in Kenya in 1974. It has become a leading Tier 1 bank with branches nationwide and offers a comprehensive suite of financial services.

The bank caters to individuals, businesses, and corporations with products such as loans, savings accounts, transaction accounts, investments, and mortgages. I&M Bank is fully owned by I&M Group.

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