The Central Bank of Kenya and the National Treasury have given the green light Nigeria’s Access Bank PLC to acquire the struggling National Bank of Kenya, marking a key step forward in the nearly year-long acquisition process.
According to the report by Punch newspaper on Tuesday, the approval was announced on Monday and it brings Access Bank closer to finalising its purchase of 100 per cent of NBK’s issued share capital—a move expected to bolster its presence in East Africa’s largest economy.
The report added that the deal is still pending final approval from the Nigerian regulatory authorities.
It recalled that in a gazette notice, CBK Governor Kamau Thugge, stated that the acquisition was approved on April 4, 2025, under Section 13 (4) of the Banking Act. Treasury Cabinet Secretary John Mbadi endorsed the transaction on April 10, 2025.
GIK/APA