Kenyattas buy Jamii Bora Bank for Sh1.4bn

What you need to know:

  • Family expands its empire with yet another bank buyout after NIC deal
  • CBA’s microcredit business, M-Shwari, is to be spun off to Jamii Bora while CBA/NIC will focus on their mainstay corporate and SME banking.
  • CBA Group chief executive Isaac Awuondo declined to comment on the matter.

Commercial Bank of Africa (CBA) has made a Sh1.4 billion cash offer to buy out Jamii Bora Bank, expanding the Kenyatta family’s business empire which transcends banking, dairy, real estate, hospitality and manufacturing sectors.

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