KCB Group now targets to recapitalise its Kenyan subsidiary, KCB Kenya, within January 2024, after investor jitters over Kenya’s sovereign (country) risk derailed the plan of closing it by the earlier planned date of October 31, 2023.
KCB Kenya has in the recent past come under close scrutiny by investors and market watchers following the erosion of its capital buffers, something the group’s top management says has been a key driver of the 50.8 percent plunge in its share price since the start of the year.
