Arise concludes share transfer of 55% stake in dfcu Limited in Uganda
Arise is pleased to announce that the dfcu Limited share transfer from its founding shareholders to Arise has been concluded. Arise now owns a 55 % stake in dfcu Limited in Uganda. The share transfer was finalised this week after regulatory approvals.
According to Arise CEO, Deepak Malik the successful completion of the share transfer speaks directly to the reason why Arise was formed, which was through its shareholders, to partner with local Financial Service Providers (FSPs) in Sub Saharan Africa to advance economic growth and job creation by strengthening the banking sector.
“This long-term investment by Arise will support dfcu Limited’s growth ambitions, enabling the organisation to improve its market position and efficiencies. In addition, we believe that this collaborative initiative will serve as a catalyst for improved returns to all stakeholders”, he added.
“We are committed to developing inclusive financial systems in Africa and through our partnership with dfcu Limited we are one step closer to achieving this goal”, concluded Malik.
For information contact:
Zeenat Parker, Communications Manager, Arise
C: +27 (0) 81 248 2801 E: Zeenat.Parker@ariseinvest.com