Egide Gatera is a shareholder in Société Pétrolière and Rwanda Mountain Tea and has diversified interests in the banking and insurance industries in Rwanda as well as real estate, tourism, and energy.
“We are happy to partner with I&M Rwanda, there is a lot of synergies to develop with our group. I&M Rwanda has a long experience in working with corporates and I am sure we will mutually benefit from this partnership,” said Mr. Gatera.
Kibo Capital Partners is a private equity firm with two funds under management with assets totaling US$100 million and targets growth companies in Eastern and Southern Africa and the islands of the Indian Ocean.
Enexus Finance is an investment banking firm specializing in middle-market transactions in Africa and provides M&A and fundraising services to African and international companies willing to expand in Africa and has offices in Paris and Abidjan.
“I&M Rwanda has a long experience in working with corporates and I am sure we will mutually benefit from this partnership”Egide Gatera
I&M Rwanda is the second largest bank in Rwanda with a market share of just over 10%. Through its fourteen branches around the country, the bank offers a full range of banking services all over Rwanda, with a strong focus on corporates and SMEs.
Enexus Finance acted as financial advisor to Kibo. Julien Lefilleur, the managing partner of Enexus Finance, commented: “We are pleased to have supported Kibo in this sale to Mr. Gatera’s group. Mr. Gatera’s experience of the Rwandan market will certainly prove a valuable asset for I&M”.
The bank registered an after-tax profit of Rwf1.6 billion (US&1.6 million) between January and March 2021, its first-quarter financial performance results.