How Congo local ownership rule has stalled NBK’s sale

The National Bank of Kenya.

Photo credit: File| Nation Media Group

The demand that Access Bank sell a 45 percent stake in its Democratic Republic of Congo (DRC) is at the centre of the stalled sale of the National Bank of Kenya (NBK) to the Lagos-headquartered lender.

KCB Group, which is selling NBK, said earlier that the Central Bank of Nigeria (CBN) had placed a condition for Access Bank to review its ownership of the DRC unit before closing the Kenya deal.

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