Mauritian lender to acquire Kenya’s Fidelity Bank

SBM Holding to inject Sh1.46 billion in additional equity once all regulatory approvals are granted

Mauritian SBM Holdings will fully acquire Kenya’s Fidelity Commercial Bank (FCB) before end of the year in a deal valued at Sh100.

In a cautionary announcement posted on the Stock Exchange of Mauritius, the group said it intends to pump in Sh1.46 billion in additional equity once all regulatory approvals have been granted.