Kampala, Uganda – I&M Group is set to reinforce its Ugandan unit with a substantial investment of Ush30 billion ($7.89 million). This capital infusion aims to bolster the lending business of the bank and ensure compliance with the new capital requirements set by the Bank of Uganda.

According to Africa News Agency, The lender is also planning to expand its presence in the Democratic Republic of Congo (DRC), a market that is increasingly attracting regional financial institutions. The capital injection, scheduled for completion in the next six months, is expected to elevate I&M Bank Uganda’s core capital to Ush150 billion ($39.47 million) by June 2024. This increase in capital is anticipated to enhance the subsidiary’s lending capacity, thereby generating more interest income for the bank and increasing dividends for shareholders.