KEY POINTS
• The Central Bank of Kenya has approved the transfer of Access Bank Kenya’s business, assets and liabilities to National Bank of Kenya.
• The transaction received CBK approval on August 17, 2026, followed by approval from Kenya’s Cabinet Secretary for the National Treasury and Economic Planning on September 21.
• Access Bank entered Kenya in 2020 through the acquisition of Transnational Bank, while its parent later acquired NBK in 2025.
• CBK said the transaction would support stability, strengthen the resilience of Kenya’s banking sector and promote competition.
MAIN STORY
The Central Bank of Kenya has approved the transfer of the business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited, altering the structure of the Nigerian lender’s operations in the Kenyan banking market.
CBK said it approved the transaction on August 17, 2026, under Section 13(4) of the Banking Act. The transaction subsequently received the required approval from Kenya’s Cabinet Secretary for the National Treasury and Economic Planning on September 21, pursuant to Section 9(1) of the Act.
According to the regulator, the transfer will become effective once the transaction is completed in accordance with the Business and Assets Transfer Agreement between the two parties.
The development follows a series of regulatory actions involving banking operations across African markets, including a recent directive by the Central Bank of The Gambia requiring commercial banks to begin a phased replacement of non Gambian employees with suitably qualified Gambian nationals.
Access Bank Kenya was established after Access Bank entered the Kenyan market in February 2020 through the acquisition of Transnational Bank Plc, which was later renamed Access Bank (Kenya) Plc.
Transnational Bank had commenced operations in 1985.
National Bank of Kenya, meanwhile, was established in 1968 as a wholly owned government institution to expand access to credit and support Kenya’s economic development after independence.
KCB Group Plc acquired the bank in September 2019 before Access Bank Plc acquired 100 per cent of NBK’s issued share capital from KCB Group in May 2025.
CBK said it welcomed the transfer, stating that the transaction would contribute to the stability and resilience of Kenya’s banking sector while promoting competition.
Access Bank has operations across several African markets, including The Gambia, Ghana, Guinea, Sierra Leone, South Africa, Zambia, Rwanda, Mozambique, Botswana, Cameroon and the Democratic Republic of Congo.
The Nigerian lender also has operations in the United Kingdom, a branch in the United Arab Emirates and representative offices in China, India and Lebanon.
Access Bank’s spokesperson did not respond to requests for comment on the development as of the time of filing the report.
THE ISSUES
- The transfer changes the structure of Access Bank’s presence in Kenya, following the lender’s acquisition of NBK in 2025 and its earlier entry into the market through Transnational Bank.
- Regulatory approval is a key stage in the transaction, with CBK approval followed by the required approval from Kenya’s Cabinet Secretary for the National Treasury and Economic Planning. The transfer itself will take effect after completion of the transaction under the agreed terms.
- The transaction is taking place within a wider African banking environment in which regulators are addressing issues around sector stability, competition and local participation.
- Access Bank’s operations across multiple African markets mean regulatory developments in individual countries can affect the structure and management of its wider continental banking business.
WHAT’S BEING SAID
“The Central Bank of Kenya announces the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK).” – Central Bank of Kenya
“CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition.” – Central Bank of Kenya
WHAT’S NEXT
The transfer will take effect upon completion of the transaction in line with the terms of the Business and Assets Transfer Agreement between Access Bank Kenya and NBK.
BOTTOM LINE
Kenya has approved the transfer of Access Bank Kenya’s business, assets and liabilities to NBK, following regulatory approvals in August and September 2026. The CBK said the transaction would support stability, resilience and competition in the Kenyan banking sector.
 Plc to National ...){kind=link}