Nigerian Guaranty Trust Bank (GTB) Group has increased its shareholding in the Kenyan subsidiary by 5.89percent, signifying the rising competition for the East African market by lenders from the west Africa nation.
Nigerian Pan-African banking groups —Access Bank, United Bank for Africa (UBA), and the Guaranty Trust Bank (GTB) are positioning themselves to control Africa’s links to the global financial gateways in India, Dubai, and China and to secure lucrative trade financing deals, offered by the continent’s 1.3 billion free market under the African continental free trade Area (AfCFTA).
