Access Bank sets to acquire Kenya’s bank

The Central Bank of Kenya and the National Treasury have given the green light for Nigerian lender Access Bank PLC to acquire the struggling National Bank of Kenya, marking a key step forward in the nearly year-long acquisition process.

The approval, announced on Monday, brings Access Bank closer to finalising its purchase of 100 percent of NBK’s issued share capital—a move expected to bolster its presence in East Africa’s largest economy. The deal is still pending final approval from Nigerian regulatory authorities.

In a gazette notice, CBK Governor Kamau Thugge stated that the acquisition was approved on April 4, 2025, under Section 13 (4) of the Banking Act. Treasury Cabinet Secretary John Mbadi endorsed the transaction on April 10, 2025.