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After finalisation of the share acquisition transaction, I&M Group has announced plans to rebrand its newly acquired business in Uganda, Orient Bank Ltd to I&M Bank (Uganda) Limited. I&M Group PLC’s acquisition of 90% shareholding in Uganda’s Orient Bank Ltd (OBL) forms part of its broader regional expansion plan towards its ambition of becoming Eastern Africa’s leading financial partner for growth. Orient Bank Chairman, Mr. Suleiman Kiggundu has promised a seamless and efficient transition as I&M Bank officially enters the Ugandan financial services market with “innovative services and reliable financial solutions.” PHOTO/Courtesy According to Kumaran Pather, the Managing Director / CEO of Orient Bank Limited,…
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Katherine M. Sempebwa Turinawe is the Head of Human Resources at Orient Bank Limited where she is responsible for the overall organizational leadership for human capital related functions, formulating and proactively facilitating implementation of appropriate strategies and plans focused on hiring, developing, motivating and retaining the best talent within Orient Bank. She is a well-rounded professional, with extensive HR experience in strategy formulation and best practice governance, performance and talent management. Prior to joining Orient Bank, Katherine was the Head of Human Resources at KCB Bank Rwanda PLC. Prior to that, she worked as Chief Human Resources Officer as well…
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I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. OBL is the 12th largest commercial bank licensed and established in Uganda. I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 percent shareholding of Orient Bank. The acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority. In a joint media statement, I&M Group said the acquisition…
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