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Kenyan Lender CBA Agrees to Acquire Crane Bank’s Rwanda Unit
NAIROBI (Capital Markets in Africa) – Commercial Bank of Africa Ltd., a closely held Kenyan lender, agreed to acquire the Rwandan unit of Crane Bank Ltd., Uganda’s fourth-largest lender. An agreement on the purchase has been signed, the Nairobi-based lender said in an emailed statement on Thursday. The transaction is subject to regulatory approval, it said. “The acquisition signals CBA’s strategic intentions to expand its existing business operations in Rwanda and participate meaningfully in Rwanda’s economic growth…
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