Kenyan tycoon Suresh Bhagwanji Shah loses $4.95 million amid I&M Bank’s share-price nosedive
Shah holds a beneficial stake of 10.98 percent, consolidating his position as a major stakeholder in the company.
Shah holds a beneficial stake of 10.98 percent, consolidating his position as a major stakeholder in the company.
I&M Bank Group is a prominent financial services conglomerate founded by Shah.
Since its founding in 1974, I&M has grown into one of the leading financial services groups in East Africa.
Shah is the founder of I&M Holdings.
The transaction’s value was not disclosed.
Since its founding by Shah in 1974, I&M Group has expanded its operations to other East African countries.
NASIRA is a financial program that assists young, female, migrant, and COVID-19-affected entrepreneurs.
Shah built I&M Group into East Africa’s leading commercial banking organization.
Shah owns a beneficial 10.98-percent stake in the company.
I&M Bank Group is a leading non-operating holding company situated in Kenya.
I&M Holdings, or I&M Group, is the Kenya-based non-operating holding for I&M Bank Limited.
The decline occurred as investors sold down the bank’s shares, leading to a double-digit dip in the share price.