Why Zenith Bank wants to acquire Kenyan bank after meeting CBN's target

• Zenith Bank is successful talks to get a Kenyan Bank, with apical officials from the slope expected successful Kenya successful 3 months
• The determination volition beryllium Zenith Bank’s archetypal introduction into Kenya and extracurricular West Africa, wherever it plays a ascendant role
• Zenith Bank volition articulation Access Bank, Guaranty Trust Bank, and United Bank for Africa (UBA) successful the Kenyan market

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

Nigeria’s Zenith Bank is astir to participate the Kenyan market, with talks reportedly underway to get a tier-2 bank.

The move, if consummated, volition people Zenith Bank’s archetypal foray into the increasing Kenyan marketplace and extracurricular West Africa, and volition deepen Nigerian banks’ beingness successful Kenya.

Zenith Bank is successful talks to get a tier-2 slope successful Kenya aft gathering CBN's requirement. Credit: Zenith Bank
Source: UGC

Like Nigeria, Kenyan banks are raising caller capital

According to reports, apical officials from Zenith Bank are expected successful the Kenyan capital, Nairobi, successful 3 months to ramp up negotiations.

The improvement comes amid Kenya’s caller restructuring of its superior requirements, which is pressuring smaller lenders to either rise caller funds oregon see M&As.

Kenya’s apex bank, the Central Bank of Kenya (CBK), has raised the minimum superior from Sh1 cardinal to Sh3 cardinal by the extremity of this year, and plans much summation to Sh10 cardinal by the extremity of 2029.

Zenith Bank surpasses CBN’s superior target

Zenith Bank is 1 of Nigeria’s biggest banks by plus basal and marketplace value. The slope recently surpassed the N500 cardinal recapitalisation request acceptable by the Central Bank of Nigeria (CBN).

Nigerian banks person up to March 31, 2026, to implicit the superior raising, with respective lenders aggressively pursuing caller superior from backstage placements and stock sales.

Zenith Bank precocious concluded a hybrid superior raise, successfully securing N350.46 cardinal done a operation of a rights contented and a nationalist offer. 

This inaugural was undertaken to conscionable the Central Bank of Nigeria's (CBN) accrued superior requirements and to fortify the bank's fiscal position. 

The connection was oversubscribed, with some the rights contented and nationalist connection exceeding their targets.

More Nigerian banks participate the Kenyan market

Experts person said that the Kenyan banking manufacture has recorded much Nigerian lenders entering its ecosystem.

UBA entered the marketplace successful 2009, followed by Guarantee Trust Bank successful 2013, and Access Bank has accrued its operations since it entered the marketplace successful 2020.

Access Bank solidified its footing by acquiring National Bank from KCB Group successful a woody that was finalised successful April 2025.

The introduction of the Nigerian lender comes arsenic Kenya’s cardinal slope lifted a 10-year-old frost connected caller slope licenses, effectual July 1, 2025, giving mode for much entries and competition.

Kenya’s cardinal slope lifts frost connected banking licence

Business Daily reported that Kenyan banks are trying to enactment compliant with the caller superior requirements.

According to the report, Ecobank injected Sh3.5 cardinal into its section portion successful March this year, pushing its superior basal to Sh8.5 billion.

Jim Ovia-led Zenith Bank eyes the Kenyan market, plans the acquisition of a tier-2 bank. Credit: Bloomberg/Contributor
Source: Getty Images

Analysts accidental Zenith Bank’s projected introduction could trigger a caller question of acquisitions and a caller epoch successful Kenya’s progressively Pan-African fiscal industry.

Access Bank takes implicit Standard Chartered Bank

Legit.ng earlier reported that Nigeria’s banking giant, Access Bank, has completed the takeover of Standard Chartered Bank successful The Gambia.

The takeover connected June 13, 2025, volition spot Standard Chartered Bank cease to run successful The Gambia aft 130 years of operations.

The politician of the Central Bank of The Gambia, Buah Saidy, disclosed this precocious during a property league astatine The Gambia’s apex bank’s office successful Banjul.

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Source: Legit.ng