Following a comprehensive review, Kenyan financial authorities – the Central Bank of Kenya and the National Treasury – have granted their approval for Nigerian giant Access Bank PLC to acquire the National Bank of Kenya.
This announcement on Monday signifies a major milestone in the acquisition journey, which began nearly a year ago. With this key regulatory hurdle cleared in Kenya, Access Bank’s intended full acquisition of NBK’s shares moves closer to fruition, promising to reshape the competitive landscape of East Africa’s largest economy.
The deal now awaits the final nod from Nigerian regulatory bodies, setting the stage for potential future synergies and market dynamics.
