Kenya: Jamii Bora Plans Another Cash Call in September

29 February 2012

NEW local bank Jamii Bora is eyeing another rights issue in September to raise Sh500 million and increase its capital base to Sh1.3 billion to fund the bank's expansion and growth plans.

Jamii Bora bank CEO Sam Kimani announced plans to open a new branch each month this year to meet its target of 12 branches for 2012, as it seeks to grow its network in the market. "We have enough capital to grow which is slightly over Sh800 million and by end year we shall be compliant at Sh1 billion mark," said Kimani yesterday during the opening of the bank's second outlet in Eastleigh area.

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