A new chapter dawns for the National Bank of Kenya as the Central Bank of Kenya and the National Treasury have officially approved its acquisition by Nigeria’s Access Bank PLC.
This decisive step, the culmination of a nearly year-long process and announced on Monday, offers a potential lifeline for the struggling lender. The acquisition, which will see Access Bank take over 100% of NBK’s issued share capital, has received the necessary Kenyan regulatory endorsements, with final approval pending in Nigeria.
This move signals a significant restructuring within Kenya’s banking sector.
