The Central Bank of Kenya (CBK) has given a go-ahead to top Nigerian Access Bank to acquire 100 percent of Kenya’s Transactional Bank linked to former President Daniel Moi.
In a statement on Friday, CBK Governor Patrick Njoroge announced that he had given a greenlight for the acquisition of Transnational Bank by Access bank.
Late 2019, the Competition Authority of Kenya had endorsed the deal where Access Bank was to take over 100 percent of shareholding in Transnational Bank.
“The Cabinet Secretary for National Treasury and Planning has also approved the acquisition of up to 100 percent of the issued share capital of Transnational Bank plc by Access Bank plc,” said the CBK Governor.
Here is the statement from CBK:
