Project detail - I AND M BANK TANZANIA LIMITED

I AND M BANK TANZANIA LIMITED

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Who is our client

I and M Bank (T) Ltd came into operation in 2010 when I and M Bank Kenya acquired CF Union Bank which had been operating in Tanzania since 2001. I and M Bank (T) Ltd is a commercial bank in Tanzania offering a full range of banking services targeted at corporates, small and medium-sized businesses (SMEs), and individuals.

Funding objective

The long term loan will help I and M Bank (T) Ltd in onward lending to its customers and thereby stimulating economic growth and job creation through development of the SME and mid-corporate sector in the country.

Why we fund this project

This transaction represents an excellent opportunity to expand and deepen FMOs existing partnership with the I and M Group beyond the existing USD 25 million facility with I&M Bank Kenya. The I and M Group started as a financial service company in Kenya in 1974 with a currently growing regional presence in Rwanda, Mauritius and Tanzania. Since the entry of the I and M Group in Tanzania, in 2001 it expanded their branch network to 8 branches spread across the key strategic locations in the country and established a well-known name in the market. I and M Group's focus on SMEs is in line with FMOs strategy to support SMEs as core and vital drivers for countries' growth and development.

More investments

Date Total FMO financing
12/12/2018 USD 10.00 MLN
Website client
http://www.imbank.com/tz
Region
Africa
Country
Tanzania, United Republic of
Sector
Financial Institutions
Signing date
12/1/2015
Total FMO financing
USD 12.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B