KCB Group to acquire 100% of National Bank of Kenya.

The KCB Group has made an offer to acquire 100% of the ordinary shares of National Bank of Kenya. KCB Group, which has presence in six countries and a representative office in Ethiopia, has been keen to tap into new growth opportunities while reinforcing existing market capabilities. “The proposed transaction will further consolidate the banking sector in Kenya and will create stronger institutions enabling KCB to play a bigger role in the financial inclusion agenda. The acquisition wouldacceleratethe Group’s growth ambitions and enhance value to all stakeholders,” Mr. Joshua Oigara, KCB Group CEO and Managing Director.