Business NewsCo-operative Bank has inched closer to the acquisition of Jamii Bora Bank after the latter’s board approved a takeover offer. Co-operative Bank has inched closer to the acquisition of Jamii Bora Bank after the latter’s board approved a takeover offer. Jamii Bora said in a statement that the proposed transaction will see significant capital injected into the lender and will enable it to leverage the combined skills and expertise of both entities. Jamii Bora is an SME-focused lender on the lower tier of Kenya's banking sector with 17 branches countrywide and assets estimated at around Sh12 billion. SEE ALSO: Co-op Bank renews vehicle financing for SMEsIt has however been experiencing liquidity problems and was looking for capital injection in the last couple of years.

Source: Standard Digital June 17, 2020 12:00 UTC