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Kenya’s largest lender, KCB Group Plc, has taken a calculated leap into the fintech frontier with the acquisition of a minority stake in PesaPal Limited, a leading regional payments company licensed by the Central Bank of Kenya. The deal, announced publicly on October 31, 2025, underscores KCB’s growing commitment to digital transformation and its intent to embed itself deeper into the technology-driven payments ecosystem. The transaction, subject to regulatory approval, represents more than a financial investment. It is a strategic alignment between a traditional banking powerhouse and a homegrown fintech that has spent sixteen years quietly building one of East…
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Access Bank Plc has completed the acquisition of National Bank of Kenya (NBK) from KCB Group for USD 109.6 million (KShs 14.2 billion), closing a deal first announced in March…
Shares of NCBA Group Plc have hit an all-time high of KSh 75.25, rising 8.27 percent from KSh 69.50, after confirmation that Africa’s largest lender, Standard Bank Group Ltd., is in advanced talks to acquire the Kenyan bank — a deal that could dramatically reshape the structure and ownership of Kenya’s banking sector. According to Bloomberg, the Johannesburg-based banking giant, which holds a 75 percent stake in Nairobi-listed Stanbic Holdings Plc, has already received internal approvals to engage NCBA in buyout negotiations. If completed, the merger would create Kenya’s third-largest lender by assets, with a combined balance sheet of approximately…
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In a move that underscores the growing importance of Special Economic Zones (SEZs) in driving Africa’s industrialisation, KCB Group and the African Export-Import Bank (Afreximbank) have signed a landmark Memorandum of Understanding (MoU) to provide $800 million in financing support for the Vipingo Special Economic Zone in Kilifi County, Kenya. Under the agreement signed in Nairobi on September 17, 2025, Afreximbank will contribute $500 million while KCB Group will inject $300 million towards the initiative. The deal was announced at the Arise Integrated Industrial Platforms (Arise IIP) – Kenya Investment Forum 2025, a high-level gathering of business leaders seeking to…
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Kenyan banking giant KCB Group, has appointed Paul Russo as its new chief executive officer. Russo will succeed Joshua Oigara, who has served as the bank’s topmost leader since 2013. The outgoing CEO at KCB, Joshua Oigara is scheduled to exit his office this week. The incoming KCB bank boss, Russo is a seasoned human resources manager and HR expert, who currently leads a KCB subsidiary National Bank of Kenya (NBK). Russo served as group head of human resources at KCB before being appointed to run NBK in 2019 after it was acquired by KCB. He previously worked at Barclays and…
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KCB Group has revealed plans to acquire a bank in Democratic Republic of Congo (DRC) in the next two years once it wraps up $40 million deals in Tanzania and Rwanda, Business Daily reports. Entrance into the DRC, with a population of over 84 million, will mark the seventh market outside Kenya for KCB. Group CEO Joshua Oigara says the lender is not going to “hold pause” on searching for new opportunities and believes DRC is the most likely next destination. “We are still very keen to grow business into DRC and that is what we will be looking at…
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