Access Holdings has announced plans to acquire the National Bank of Kenya in its first significant deal since Herbert Wigwe’s death.
Access Bank stated that it entered into a binding agreement with Kenyan-based KCB Group Plc to acquire the entire issued share capital of National Bank of Kenya Limited from KCB. KCB is also the holding company of KCB Bank Ltd, Kenya’s largest commercial bank. On the transaction, Bolaji Agbede, the Acting Group CEO of Access Holdings Plc, said: “This proposed acquisition marks a significant step in the execution of our five-year strategic plan aimed at positioning the Bank as Africa’s Gateway to the World.
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