I AND M BANK TANZANIA LIMITED
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
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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