Catalyst Principal Partners have increased their shareholding in the fast growing lender, Jamii Bora Bank Limited (JBBL) bringing their stake to eleven percent further raising JBB’s institutional and international shareholding to over 37%. Other shareholders include two Swedish hedge funds namely Jamii Bora Scandinavia AB and Nordic Microcap.
Catalyst Principal Partners specializes in strategic equity investments in growing regional businesses by identifying high growth emerging and mid-sized companies with experienced managers and within identified key sectors that demonstrate high growth and profitability prospects.
Paul Kavuma the Chief Executive, Catalyst Principal Partners who also recently joined the board of the bank said, “The investment demonstrates our confidence in Jamii Bora Bank, which has a strong management team capable of delivering the company’s ambitious transformation strategy."
Catalyst and its investee companies abide by international standards of integrity, governance, environmental and social responsibility. Some of its equity partners include: IFC, European Investment Bank (EIB) and Belgian Investment Company (BIO).
Paul Kavuma joined the JBB board of directors which was reconstituted earlier in the year to strengthen the bank’s governance. Jamii Bora Bank Chief Executive Officer, Mr. Sam Kimani said, “Our board now consists of six independent directors, three directors representing shareholders and two executive directors,” adding ”Paul brings over 20 years of management consulting, entrepreneurial, investment banking and private equity experience, and is a director of several prominent boards across the region. We also welcomed to the board Ms. Lyn Mengich, a HR professional with over 25 years cross-industry experience holding top level positions in a wide range publicly traded and private organizations."
The bank has registered solid growth over the last few years with total assets as at June 2015 at KShs.16 billion representing a 23% growth between January and June 2015. The bank has added three new branches to its network with new outlets being opened in Wangige, Kiambu and Kisii.