The I&M Group board is seeking one-off shareholder approval to make up to $75 million (Sh10.2 billion) buyouts in future without requiring fresh approvals, pointing to the bank’s continued focus on growth.
The board has included the request as part of the agenda for the annual general meeting (AGM) slated for May 25 in a move that will give it more flexibility in acquiring other banks or entering mergers or joint ventures.
