Access Bank Completes Full Acquisition of National Bank of Kenya

Moniepoint in talks to acquire 78% of Kenya's Sumac Microfinance Bank after regulatory nod

Moniepoint has gotten regulatory approval to begin talks to acquire Kenya's Sumac Microfinance Bank, which has $23 million in assets.

Moniepoint acquires 78% of Sumac Microfinance bank in Kenya - Innovation Village | Technology, Product Reviews, Business

Nigerian-born fintech Moniepoint Inc. has received clearance from the Competition Authority of Kenya (CAK) to acquire a 78% stake in Sumac Microfinance Bank, marking a significant move into East Africa’s highly regulated financial services space. The acquisition, however, remains subject to final approval by the Central Bank of Kenya (CBK). This development comes just months after Moniepoint’s earlier attempt to purchase Kenyan fintech KopoKopo …

FINTECH AFRICA | Nigerian Fintech, Moniepoint, Cleared to Acquire a Kenyan Microfinance Bank

The Competition Authority of Kenya (CAK) has given the green light to U.S.-incorporated Nigerian fintech, Moniepoint Inc., to acquire a 78% controlling stake in Sumac Microfinance Bank, paving the way for Moniepoint’s formal entry into Kenya’s burgeoning financial services ecosystem. Sumac, founded in 2002 and licensed by the Central Bank of Kenya (CBK) in 2012, is a mid-tier player in Kenya’s microfinance sector with a 4.3% market share and mor…

Access Holdings, Nigeria’s biggest lender acquires National Bank of Kenya - PENPUSHING

The Nigeria’s biggest lender by assets Access Holdings Plc has completed a deal to take over full ownership of National Bank of Kenya (NBK), firming up its grip on the East African market, where it already has a substantial presence. Penpushing reports that the group’s commercial banking division after regulators in Nigeria and Kenya endorsed the transaction as announced on Monday by the financial services group, the deal, which closed in March,…

Access Banks Announces Acquisition Of National Bank Of Kenya » News.ng

Access Bank Plc has successfully concluded its acquisition of National Bank of Kenya Limited (NBK) from KCB Group PLC, marking a significant expansion of the Nigerian lender’s East African operations. The transaction transfers complete ownership of NBK—previously held entirely by KCB Group—to Access Bank Plc, which will now operate NBK as a wholly-owned subsidiary. Both financial institutions will maintain separate operations during the transiti…

Access Bank Acquires National Bank of Kenya

By Daniel Adaji Access Bank PLC, a Deposit Money Bank (DMB) in Nigeria, has officially acquired the National Bank of Kenya (NBK), completing a strategic transaction aimed at expanding its footprint in East Africa. The announcement was made Monday via the bank’s official X (formerly Twitter) handle. “Access Bank PLC has acquired National Bank of Kenya, a strategic move to deepen our presence in East Africa,” the statement read. The acquisition w…