I&M Holdings

East Africa,Africa Financial services

I&M is one of Kenya’s leading banking groups, with additional operations in Tanzania, Rwanda and Mauritius.

It offers loans and other financial services to individuals, SMEs and local corporates across these countries. In Kenya, its network extends to 42 branches.

Shareholders in the Kenya-based firm include CDC, as well as local and foreign institutional and individual investors.

This investment was made when British International Investment was named CDC Group.

Our investment

In 2016, CDC invested $50 million into I&M to take a 10.1 per cent stake in the bank.

Our investment supports the expansion of lending to small and medium sized enterprises (SMEs) in East Africa.

Expected impact

East Africa remains an economic bright spot in the midst of challenging conditions across much of the continent and the region is making strides towards greater economic integration.

Despite this, business growth is often constrained by a shortage of accessible and affordable finance.

Our partnership with IMHL expands access to finance, particularly to the SMEs and local corporates that play such an important role in local job creation and wider economic expansion.

We also support the banking group with governance, and strategic and financial expertise, enabling it to build long-term partnerships and reach more entrepreneurs. This includes the bank’s digital transformation project.

Our partnership signals a vote of confidence in the Kenyan banking industry, which helps attract other investors to the region.

Environmental and social aspects

CDC has delivered capacity building to I&M to strengthen its current Environmental and Social Management System. We will continue to provide this support.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Africa, East Africa

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Financial services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Direct Equity
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

September 2016

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


We are now British International Investment