Jamii Bora Bank shareholders have approved the creation of 30 million new ordinary shares that will be used to raise the bank’s capital through seeking out a strategic investor, undertaking a rights issue or converting debt over the next five years.
“It is our vision to make Jamii Bora a strong mid-tier bank in the future and this new capital level creates room for us to grow to that desired position and make the bank a competitive player in the country’s financial sector,” said Jamii Bora Group chairman, Mr James Gacheru.
