Markets & Finance

Firm gets nod to acquire Genghis Capital from former Chase Bank chiefs

pamoja

Pamoja Capital chief executive Geoffrey Gangla. PHOTO | DIANA NGILA

A Pamoja Capital-owned firm has gotten approval from the Capital Markets Authority (CMA) and the Competition Authority of Kenya to acquire Genghis Capital from former directors of the fallen Chase Bank.

Goodison Two Seven Three Ltd, in the process of changing its name to Overtime Capital Ltd, is a special purpose vehicle established by investors led by Pamoja Capital.

Pamoja is a regional corporate finance advisory boutique, with over 10 years in the market and offices in Nairobi and Johannesburg.

Genghis Capital, a CMA-licensed investment bank and a broker at the Nairobi Securities Exchange, said it will continue to offer its clients broking, corporate finance advisory and asset management services.

“The new board and shareholders remain committed to the clients and staff of Genghis Capital and appreciate their continued support,” the board said yesterday while announcing the appointment of 47-year-old Geoffrey Gangla as chief executive.

Mr Gangla has over 17 years of experience in investment banking including mergers and acquisitions, having worked on numerous cross-border financing deals.

He has worked in markets including Nigeria, Kenya and South Africa.