from HASSAN ONYANGO in Kampala, Uganda
KAMPALA, (CAJ News) – I&M Group has officially launched its rebranded operations in Uganda.
This follows its acquisition of Uganda’s Orient Bank Ltd in April 2021.
The Ugandan bank will now operate as I&M Bank (Uganda) Limited and adopt the Group’s vibrant corporate logo and colours.
The Kenya-based financial Group announced that the rebrand comes after the I&M Group’s successful acquisition of a 90 percent shareholding in Uganda’s Orient Bank Ltd earlier this year.
This received regulatory approval from the Central Bank of Kenya (CBK), Bank of Uganda (BU), Capital Markets Authority of Kenya as well as the Common Market for Eastern and Southern Africa (COMESA).
Suleiman Kiggundu, the bank’s chairman, said I&M Uganda, said the rebrand would unlock the bank’s potential and enable it to reach out to more customers within Uganda, and in Eastern Africa as a whole.
“Further the move will enable the bank to roll out a more diversified product and service offering to its target market,” Kiggundu said.
Kumaran Pather, the bank’s CEO, said I&M Uganda would focus on supporting critical sectors that impact growth across the region.
These include agriculture, transport, technology and manufacturing.
These would be supported through digital-focused solutions.
I&M Group and its subsidiaries have made significant investments in key sectors across Eastern Africa’s regional economy.
These include banking and finance, real estate, financial technology, trade, agriculture and infrastructure.
“We are extremely excited to announce today’s launch and rebrand, aligning our digital capabilities as well as our brand elements to keep pace with our industry leading achievements and our unique products and services within the East African region,” Pather said.
– CAJ News