Co-op to pump more capital into Jamii Bora after buyout

Co-op Bank #ticker:COOP intends to make additional capital investment in Jamii Bora Bank once it completes purchasing a controlling 90 percent stake in the small lender at a cost of Sh1 billion.

Jamii Bora’s chief executive Timothy Kabiru disclosed the plans in response to queries raised by the bank’s significant shareholders Shorecap II, private equity firm Catalyst, Cornerstone Enterprises and Nordic Microcap Investment that have a combined stake of 45 percent in the company.