Prime Bank has been serving its customers for close to 30 years, with a network of 23 branches. Prime Bank has the expertise to provide flexible, efficient, and personalized financial services. Over the years, the Bank has developed its business interests in other African countries such as Malawi, Botswana, Mozambique, Zambia, and Zimbabwe where it recently acquired Barclays Bank of Zimbabwe throu
gh its associate bank First Capital Bank. In 2017, the group acquired 80.72% shareholding of Tausi Assurance Limited. In 2018, the Bank issued a private placement which was successfully subscribed by longstanding customers and long-serving staff. The private placement raised over KShs. 2 Billion. The Bank also partnered with new investors Afric Invest Azure SPV, a Special Purpose Vehicle, jointly formed by Afric Invest and Catalyst Principal Partners, holding a 24.2% stake in the Bank. Both equity fund managers are of international repute having longstanding business relationships with international development finance institutions (DFIs); such as International Finance Corporation (IFC), PROPARCO, European Investment Bank (EIB), CDC Group, International Pension Fund (IPF), African Development Funds, among others. The capital injection further strengthens the Bank’s capital base to bolster:
• Institutionalising the governance and shareholding
• Expansion of local and regional network
• Optimization of services
• New products and services
• Further digitalizing of operations while continuing to provide enhanced services to our customers. Over time, the Bank has built strong partnerships with international organizations to enable it to provide long-term foreign currency finance to its clients. The partners include:
• PROPARCO, French DFI
• European Investment Bank
The Bank also has correspondent relationships with other banks across the globe to enable its customers meet their international business obligations.
