Key points:
- As part of its growth strategy, I&M Group, founded by Kenyan businessman Suresh Bhagwanji Shah, added 299 new jobs last year.
- I&M Group is expanding its network, planning to open 12 additional branches by the end of the year.
- The expansion efforts helped the multinational grow its client base by 210,000, reaching a total of 560,000 clients last yea
Kenyan financial services group I&M Group, founded by businessman Suresh Bhagwanji Shah, added 299 new jobs last year as part of its growth strategy. The increased hiring raised the firm’s employee count to a total of 2,827 from 2528 in the previous year. The staff numbers grew by 244 employees from 1,215 in 2022 to close at 1,459 last year.
“The group has substantially increased its talent pool as it furthered its retail and digital strategy and invested in information technology infrastructure and acquiring skills in retail requiring new skills and capabilities,” I&M says in its latest annual report
“The growth was driven by the branch expansion strategy across the group which forms the foundation for the growth strategy to support the iMARA 3.0 journey ahead.”
Billionaires.Africa reported that the vision lender added eight branches to the existing ten from last year at the start of this year and plans to open an additional 12 branches by December. The expansion helped the multinational grow its client base by 210,000 to 560,000 last year. I&M Bank Kenya alone more than doubled personal accounts to 68,666 from 33,359, attributing it to the waiver of bank-to-mobile-money transaction fees.
According to a report by Billionaire.Africa, I&M’s expansion strategy emphasizes its commitment to financial inclusion and accessibility across Kenya. By offering a combination of physical and digital banking solutions, the conglomerate aims to cater to the evolving needs of consumers and solidify its position as a dominant player in the country’s financial sector.
