Hatimaye KCB yaingia DRC

[MK254]

Tunazidi kuingia kwa Bakongo kifua mbele.....

KCB Group has entered the Democratic Republic of Congo (DRC) through the acquisition of a majority stake in Trust Merchant Bank (TMB), becoming the second Kenyan lender to enter the populous market as top local banks step up the fight for new customers in the East African region.

KCB said it has entered a definitive agreement with shareholders of TMB with the transaction expected to close in the third quarter of 2022.

“This will see KCB acquire 85 percent of the shares in TMB while the existing shareholders will continue to hold the balance for a period of not less than two years after which KCB will acquire their assets,” said KCB.

“KCB will pay a cash consideration for the shares determined based on the net asset value of TMB at the completion of the proposed transaction, and using a price to book multiple of 1.49.”

TMB is a public company limited by shares and has a strong offering in retail, corporate, and small and medium enterprises.

Once the acquisition of TMB is concluded, it will complement KCB’s regional footprint with an asset base of more than Ksh1.5 trillion ($12.6 billion).

KCB acquires DR Congo bank in expansion drive

Kenyan lender becomes second after Equity to open shop EAC’s newest member.

www.theeastafrican.co.ke

 

[Fumadilu Kalimanzila]

Sisi Bank zetu hapa Tanzania zimekalia kuongeza TOZO kwenye miamala na kutoa salary advance kwa watumushi!

 

[Don YF]

Tunazidi kuingia kwa Bakongo kifua mbele.....

KCB Group has entered the Democratic Republic of Congo (DRC) through the acquisition of a majority stake in Trust Merchant Bank (TMB), becoming the second Kenyan lender to enter the populous market as top local banks step up the fight for new customers in the East African region.

KCB said it has entered a definitive agreement with shareholders of TMB with the transaction expected to close in the third quarter of 2022.

“This will see KCB acquire 85 percent of the shares in TMB while the existing shareholders will continue to hold the balance for a period of not less than two years after which KCB will acquire their assets,” said KCB.

“KCB will pay a cash consideration for the shares determined based on the net asset value of TMB at the completion of the proposed transaction, and using a price to book multiple of 1.49.”

TMB is a public company limited by shares and has a strong offering in retail, corporate, and small and medium enterprises.

Once the acquisition of TMB is concluded, it will complement KCB’s regional footprint with an asset base of more than Ksh1.5 trillion ($12.6 billion).

KCB acquires DR Congo bank in expansion drive

Kenyan lender becomes second after Equity to open shop EAC’s newest member.

www.theeastafrican.co.ke

Kenya conquers Africa!

 

[nomasana]

I read somewhere not too long ago that CRDB is about to venture into DRC.

Honestly, I think that there should be a well defined division for the DRC
market.

This might be naive thinking on my part but hear me out.

I do think that if Rwanda and Uganda keep getting priced out of investment opportunities in DRC, they might keep sabotaging any progress the country makes because they lose nothing

However, if the EAC can get Rwanda and Uganda to put some skin in the game, maybe they won't cause as many problems in the DRC.

for example, Kenya can get the banking sector, Tanzania can get the transportation sector, Uganda can get the fast moving consumer goods and rwanda can get the mining sector

that would mean that everyone has a financial stake in the stability and success of the DRC such that causing chaos benefits NO ONE!!!!

good idea, no?!

 

[Tony254]

I read somewhere not too long ago that CRDB is about to venture into DRC.

Honestly, I think that there should be a well defined division for the DRC
market.

This might be naive thinking on my part but hear me out.

I do think that if Rwanda and Uganda keep getting priced out of investment opportunities in DRC, they might keep sabotaging any progress the country makes because they lose nothing

However, if the EAC can get Rwanda and Uganda to put some skin in the game, maybe they won't cause as many problems in the DRC.

for example, Kenya can get the banking sector, Tanzania can get the transportation sector, Uganda can get the fast moving consumer goods and rwanda can get the mining sector

that would mean that everyone has a financial stake in the stability and success of the DRC such that causing chaos benefits NO ONE!!!!

good idea, no?!

Or maybe Kenya we can just send our army to kill all the stupid rebels there. Anyway, your idea is good and makes sense.

 

[Somoche]

I read somewhere not too long ago that CRDB is about to venture into DRC.

Honestly, I think that there should be a well defined division for the DRC
market.

This might be naive thinking on my part but hear me out.

I do think that if Rwanda and Uganda keep getting priced out of investment opportunities in DRC, they might keep sabotaging any progress the country makes because they lose nothing

However, if the EAC can get Rwanda and Uganda to put some skin in the game, maybe they won't cause as many problems in the DRC.

for example, Kenya can get the banking sector, Tanzania can get the transportation sector, Uganda can get the fast moving consumer goods and rwanda can get the mining sector

that would mean that everyone has a financial stake in the stability and success of the DRC such that causing chaos benefits NO ONE!!!!

good ideai

I suppose you are from Rwanda Or Uganda!!! why would one think that in todays world we can actually allow Rwanda and Uganda to dictate the modes of business operations in EA?? they can support M 23 because DRC Leadership has allowed that to happen, that should be the bottom line...