Access Bank has acquired the National Bank of Kenya, enhancing its East African presence. With regulatory approvals in place, the acquisition strengthens Access Bank’s strategy for growth across Africa.
Access Bank PLC has successfully acquired the National Bank of Kenya (NBK) through a series of regulatory approvals. On April 4, 2025, the Central Bank of Kenya (CBK) authorized the transfer of certain assets and liabilities of NBK to KCB Bank Kenya Limited under section 9 of the Banking Act. This was followed by the approval from the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025, completing the legal requirements for the transaction.
The acquisition marks a significant step in Access Bank’s broader strategy to increase its footprint across Africa. While KCB Group PLC had fully acquired NBK in 2019, Access Bank’s latest move enables it to strengthen its presence in Kenya’s dynamic and competitive banking sector. With operations already spanning several African countries including Ghana, Rwanda, and Mozambique, this acquisition solidifies Access Bank’s commitment to expanding its reach within East Africa.
Access Bank, a subsidiary of the Nigerian-based Access Holdings PLC, has been aggressively expanding in recent years, making strategic investments to enhance its regional presence. The addition of NBK to its portfolio further reinforces the bank’s East African expansion strategy, as it continues to grow its assets and customer base across the continent.
The acquisition is set to take full effect once all necessary transactions are completed in line with the agreed terms. The deal is expected to provide Access Bank with enhanced capabilities in Kenya, a key market for its regional growth.
As Access Bank’s regional presence continues to expand, the acquisition underscores the growing trend of consolidation within Africa’s banking sector, as financial institutions look to leverage cross-border synergies and strengthen their market positions.
