By 
The Central Bank of Kenya (CBK) and the National Treasury have formally approved the acquisition of the National Bank of Kenya (NBK) by Nigeria’s Access Bank Plc, marking a pivotal development in the region’s financial sector. The deal, still pending regulatory clearance in Nigeria, could reshape the banking landscape in East Africa’s largest economy.
In a public notice issued Monday, CBK Governor Kamau Thugge confirmed the regulatory green light under Section 13(4) of the Banking Act, officially approving the acquisition of 100% of NBK’s issued share capital. A similar approval was granted by Treasury Cabinet Secretary John Mbadi on April 10, 2025.
Access Bank’s takeover of the struggling NBK opens the door to deeper regulatory compliance transformation and enhanced governance, risk, and compliance (GRC) frameworks. The acquisition also offers Access Bank a strategic entry point to scale its operations through NBK’s extensive branch network, fortifying its pan-African expansion strategy.
While the transaction’s financial terms have not been disclosed, KCB Group, NBK’s current owner, previously hinted at a sale price equivalent to 1.25 times NBK’s book value. With NBK’s 2023 book value reported at $79.77 million, the deal could be worth approximately $100 million, although final figures may vary.
The acquisition would be Access Bank’s second in Kenya following its 2020 purchase of Transnational Bank, reinforcing its commitment to expanding its footprint in compliance-driven markets. Other Nigerian lenders like UBA and GTBank have made similar moves, intensifying competition in the East African financial ecosystem.
Access Bank is expected to inject fresh capital into NBK to bolster its regulatory capital adequacy, a requirement critical for stabilizing the bank’s balance sheet and aligning with regulatory reporting and compliance standards. Since KCB Group’s 2019 acquisition of NBK, over $63.5 million has been invested in efforts to restructure and restore the lender’s financial health.
As the East African banking sector continues to evolve, this acquisition represents not just a market expansion move but a broader signal of regulatory change management, financial crime prevention, and compliance innovation being prioritized by both regional and foreign institutions.
With this development, Access Bank is set to deepen its influence within Kenya’s regulatory framework, while contributing to a more interconnected and digitally compliant African banking ecosystem.
Comments