Access Holdings Plc, the parent company of Access Bank, has completed a landmark deal to acquire the National Bank of Kenya (NBK) for ₦179.1 billion (US$109.6 million).
The acquisition, first announced in May 2025, marks a major step in the group’s strategic expansion across East Africa.
Access Holdings, NBK ₦179 Billion Deal Completed
On May 30 2025, Access Holdings received the completion documents from KCB Group, formalising the transaction.
However, regulatory authorities in Kenya and Nigeria still need to grant final approvals, which delays the full transfer of NBK control.
To secure the seller’s right to payment, Access Holdings, KCB, and the African Export–Import Bank (AFREXIM) signed a guarantee agreement covering US$89.5 million (₦142.3 billion).
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Strategic Growth In Kenya
Kenya’s position as a regional financial hub provides vast opportunities in public sector, corporate, retail, and digital banking.
Moreover, by combining NBK’s local expertise with Access Bank’s pan-African network, the group plans to deliver more innovative and efficient banking services.
Additionally, Access Holdings transferred certain NBK assets and liabilities to KCB Bank Kenya Limited to ensure a smooth transition, approved by both the Central Bank of Kenya and National Treasury.
Consequently, this acquisition strengthens Access Holdings’ presence in Kenya’s competitive market and demonstrates its ambition to become Africa’s financial gateway, leveraging digital innovation and cross-border synergies to drive inclusive growth across the continent.
