I&M Group Completes Capital Raise with AfricInvest and Partners

Deal News | May 22, 2025 | AfricInvest Group

AfricInvest Group, alongside FMO and Norfund, has made a significant investment in I&M Group PLC through the East Africa Growth Holdings (EAGH) vehicle, acquiring a 15.14% stake. I&M Group, a diversified financial services provider, raised 4.19 billion shillings to support its iMara 3.0 strategy. This strategy aims to deepen digital transformation, expand regional operations, and enhance financial inclusion across East Africa. The investment underscores AfricInvest's commitment to building resilient financial institutions that drive inclusive growth on the continent.

Sectors

Financial Services
Private Equity

Geography

East Africa – I&M Group is looking to enhance financial inclusion across East Africa, and the investment is made through East Africa Growth Holdings.
Africa – AfricInvest aims to drive inclusive growth on the continent, encompassing a broader geographical strategy.

Industry

Financial Services – I&M Group is a diversified financial services provider with a focus on retail and MSME banking.
Private Equity – AfricInvest's investment in I&M Group is a classic example of private equity involvement in expanding financial institutions.

Financials

4.19 Billion Shillings – The capital raised by I&M Group through the investment.

Participants

Name	Role	Type	Description
AfricInvest Group	Investor	Company	A leading pan-African Private Equity firm involved in the investment in I&M Group.
I&M Group PLC	Target	Company	A diversified financial services provider focusing on retail and MSME banking in East Africa.
East Africa Growth Holdings (EAGH)	Investment Vehicle	Company	The vehicle through which AfricInvest and partners invested in I&M Group.
FMO	Investor	Company	A development bank that partnered with AfricInvest in the investment.
Norfund	Investor	Company	Norwegian Investment Fund for Developing Countries, involved in the investment.