The Central Bank of Kenya has given the Co-operative Bank of Kenya the green light to acquire Jamii Bora Bank.

Central Bank of Kenya

TweetShareSharePin11 Shares The regulator in a statement said that the 90 percent acquisition of the bank should be completed by end of this month. “CBK announces the acquisition of 90 percent of shareholding of the Jamii Bora Bank by Co-op Bank effective August 21, 2020, following further approvals by among them the Jamii Bora shareholders and the National Treasury,” CBK said. Last month, Jamii Bora Bank shareholders y backed the proposal in that allowed Co-op Bank to acquire a 90 percent stake and rights to appoint a new board to…

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