Published: May 5, 2013
UK DFI will keep 15% stake in DFCU following deal with Norfund and Rabobank.
CDC, the UK’s development finance institution, is selling part of its 60.02% shareholding in DFCU, a Ugandan bank, to the Norwegian Investment Fund for Developing Countries (Norfund) and Rabobank.
Norfund will buy 17.48% of the shares, which will increase its shareholding to 27.54%, while Rabo Development, a Rabobank subsidiary, will buy 27.54%. CDC will keep a 15% stake in DFCU.
CDC co-founded DFCU with the Ugandan government in 1964. The bank was floated on the Uganda Securities Market in 2004.