Written by Wesley Cate on April 28, 2015
The London Evening Standard reports that former Barclays CEO Bob Diamond will invest $22.5 million in Banque Populaire Rwanda through his African banking venture Atlas Mara. The investment will give the firm a 45% stake in the bank, which Atlas Mara then plans to merge with BRD Commercial Bank of Rwanda. The merger would become Rwanda's largest branch network, and the second largest by assets.
According to the London Evening Standard, the CEO of Atlas Mara remarked, "I am excited by the prospect of our second aquisition in Rwanda, which is one of sub-Saharan Africa's most dynamic economies."
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