KCB to spend Sh6bn in buying Rwandan, Tanzanian banks

KCB Group #ticker:KCB will spend a total of Sh6 billion to acquire two banks in Rwanda and Tanzania from London-listed Atlas Mara limited.

The Nairobi Securities Exchange-listed firm had earlier estimated it would acquire a 62 percent stake in Banque Populaire du Rwanda Plc (BPR) and a 100 percent ownership in African Banking Corporation Tanzania Limited at a cost of $40 million (Sh4.2 billion).