The Competition Authority of Kenya (CAK) has ordered KCB Group #ticker:KCB to retain at least 90 percent of the employees it will have once it completes its buyout of National Bank of Kenya #ticker:NBK, with the jobs protection to last for one-and-a-half years.
The country’s biggest bank by assets had said it would move swiftly to eliminate excess staff and branches in a bid to accelerate returns from the all-stock acquisition.
