Kenya's KCB Group to Sell National Bank to Nigeria's Access Group

By
Njoku Okafor Chukwuemeke
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).

Kenya's KCB Group has agreed to sell subsidiary National Bank of Kenya (NBK) to Nigeria's Access Group, a move that has driven KCB Group shares up by 9.9%. The deal, struck at 1.25 times book value, aligns with Access Group's expansion plans in Kenya and the wider region. The sale comes as a result of efforts to turn around NBK and KCB's need to conserve capital. As KCB Group continues to expand in the region, the sale will allow the preservation of investments made in NBK over the last four years.

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