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KIGALI (Capital Markets in Africa) – Kibo Capital Partners, a manager of regional private equity funds, today announced an investment by Kibo II in I&M Bank Rwanda, the oldest and one of the most profitable banks in Rwanda.
“Our investment in I&M Rwanda (IMR) builds on a long relationship between Kibo and with I&M Bank. Investing in IMR allows Kibo to support a market leading bank to expand further in one of the Sub-Saharan Africa’s dynamic economies. As the first Private Investment in Public Equity (PIPE) transaction in our current fund, Kibo played a cornerstone role as the main international institutional investor in IMR’s successful Initial Public Offering on the Rwanda Stock Exchange,” Kevin Rodrigues, Principal of Kibo, said.
Financial details of the transaction were not disclosed.