Access Bank, a subsidiary of Nigeria’s Access Holdings Plc, has received final regulatory approvals to acquire 100 per cent shareholding of the National Bank of Kenya (NBK), marking a significant milestone in the lender’s strategic expansion across East Africa.
The Central Bank of Kenya (CBK) confirmed on Monday that it granted approval for the transaction on April 4, 2025, under Section 13(4) of the Banking Act.
In a coordinated move, Kenya’s Cabinet Secretary for the National Treasury and Economic Planning also gave the green light on April 10, 2025, pursuant to Section 9 of the same Act.
Access Bank is acquiring NBK through a full purchase of shares from KCB Group Plc, which has held complete ownership of the bank since 2019.
As part of the acquisition, selected assets and liabilities of NBK will be transferred to KCB Bank Kenya Limited, a wholly owned subsidiary of KCB Group.
The CBK and the Treasury have both approved this transfer as an integral component of the broader transaction.
According to CBK, the acquisition will be finalized upon the full completion of agreed terms between Access Bank and KCB Group. Once completed, Access Bank will officially own and operate NBK, positioning itself as a stronger competitor within Kenya’s dynamic financial services landscape.
The acquisition of NBK aligns with Access Bank’s long-term strategy to scale operations in East Africa and deepen its presence in Kenya, one of the continent’s most competitive banking markets.
The move is expected to enhance Access Bank’s capacity to deliver innovative digital and financial solutions to a broader customer base in the region.
The CBK welcomed the acquisition, stating that the transaction is consistent with its objective to promote the development of a sound, stable, and inclusive financial sector.
The regulator expressed confidence in Access Bank’s capability to ensure continuity of services at NBK while strengthening financial resilience in the market.
“The acquisition will enable Access Bank to leverage NBK’s infrastructure and customer base, thereby enhancing service delivery and financial inclusion in Kenya,” the CBK noted.
Access Bank’s expansion reflects a broader trend of cross-border banking consolidation in Africa, as regional financial institutions seek to build scale, diversify risk, and foster long-term growth across key markets.
