Yes its next and that depends on whether the Nyachae family is willing to let go.
Other banks on the lineup
Spire bank
Housing Finance
ABC Bank

I&M bank making an acquisition in Uganda.
They are acquiring 90% of the issued share capital of Orient Bank Limited,Uganda

Orient bank launched its services in Uganda in 1993.The bank then acquired Trans-Africa Bank Limited in 2002, which had been declared insolvent by Bank of Uganda.

Through its history, the bank has gone through several ownerships by different entities and individuals. The last acquisition was by the London-headquartered private equity fund 8 Miles, founded by musician Bob Geldof, who acquired a 42 per cent stake in Orient Bank (U) Ltd in 2015. The founders of the bank, led by Ketan Morjaria, hold 49 per cent in the bank.

The remaining shareholding is by individuals Alemayehu Fisseha, the owner of Prime General Supplies, and the Ugandan-based Chinese manufacturer and property developer, Zhong Shuang Quan – each with 4.5 per cent.

In 2019, the bank struggled to make money, turning in a loss of Shs 1 billion from a Shs 5.6 billion profit registered in 2018. Its assets grew to Shs 814 billion in 2019 from Shs 749 billion in 2018, according to the official published financial results.

Seems I&M will have to put some cash into it as well so the total investment will be higher than just the purchase price.

An article in The East African states the deal is estimated at $23.4M (Ksh2.34B).