Entry Holdings Plc, the guardian firm of Access Bank, has disclosed the monetary phrases of its acquisition of the Nationwide Bank of Kenya (NBK), revealing a transaction worth of roughly N179.1 billion (US$109.6 million).
The deal, which was first introduced in Could 2025, marks a major step within the group’s strategic growth throughout East Africa.
“As a part of the completion course of, the Group obtained the completion paperwork from the Vendor (KCB Group) on 30 Could 2025 for a complete estimated consideration of USD109.6 million (N179.1billion),” the Group stated in its 2025 half-year monetary assertion.
Approvals stay conditional
The acquisition was finalized on Could 30, 2025, following regulatory approvals in each Kenya and Nigeria. Nonetheless, Entry Holdings clarified in its 2025 half-year monetary assertion that these approvals remained conditional as of the reporting date.
“As at 30 June 2025, these situations had not been fulfilled, and management of NBK had not but transferred to the Group,” the assertion learn. “Consequently, the monetary outcomes of Nationwide Bank of Kenya haven’t been consolidated in these monetary statements.”
To safeguard the vendor’s proper to cost whereas awaiting closing regulatory clearance, Entry Holdings, KCB Group Plc (the vendor), and the African Export–Import Bank (AFREXIM) entered right into a assure settlement. The settlement, efficient Could 30, 2025, secures a most assure quantity of US$89.5 million (N142.3 billion).
Entry Holding’s broader technique
The acquisition of NBK is a cornerstone in Entry Holding’s broader technique to deepen its presence in East Africa. Kenya, as a regional monetary hub, presents a strategic platform for increasing public sector, company, retail, and digital banking providers.
“This transaction displays our dedication to constructing a robust pan-African banking franchise,” Entry Holdings acknowledged. “By combining NBK’s native experience with Access Bank’s international community, we goal to create a extra modern and environment friendly banking ecosystem in Kenya.”
The deal underscores Entry Holdings’ long-term imaginative and prescient of turning into Africa’s gateway to the world, leveraging cross-border synergies and digital innovation to drive inclusive monetary progress throughout the continent.
What you must know
The transaction follows approval from the Central Bank of Kenya (CBK), granted on April 4, 2025, below Part 13(4) of the Banking Act, with further approval from the Cupboard Secretary for the Nationwide Treasury and Financial Planning on April 10, 2025, pursuant to Part 9 of the identical Act.
- As a part of the acquisition, sure belongings and liabilities of NBK have been transferred to KCB Bank Kenya Restricted, a subsidiary of KCB Group, guaranteeing a clean transition and monetary restructuring. Each CBK and the Nationwide Treasury have authorized this switch.
- The complete completion of the transaction now marks the official integration of NBK into the Access Bank community, reinforcing the establishment’s place in Kenya’s aggressive banking sector.
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