NCBA Bank Kenya has sponsored 110 Kenyan Small and Medium-sized Enterprise (SME) and commercial banking customers on a 12-day business trip to China to expand trade opportunities.

• The business mission, from October 12 to October 23, includes attending the 138th Canton Fair.
• NCBA Group Director of Retail Banking, Dennis Njau, stated the initiative connects local businesses with Chinese manufacturers, suppliers, and investors.
• Participants are drawn from key sectors including manufacturing, construction, technology, agriculture, and real estate.

Stanbic Holdings Plc is reportedly in discussions to acquire NCBA Group Plc, a merger that would establish Kenya's third-largest lender with approximately KSh 1.1 trillion in assets.

• If completed, this transaction would create a financial institution with an estimated combined asset base of roughly KSh 1.1 trillion, trailing only Equity Group Holdings and KCB Group.
• Standard Bank Group, which owns 75% of Stanbic Holdings Plc, has an overarching strategy to expand its presence, with regional chief executive Patrick Mweheire previously stating a 2025 target for a significant acquisition in Kenya.
• The news led to NCBA's share price surging by 9.7% to KSh 76.25 on the Nairobi Securities Exchange, reaching a new all-time high amidst increasing pressure for consolidation in Kenya’s banking sector.

Bima Holdings Ltd, an investment vehicle associated with the owners of Quick Mart, has received regulatory approval from the Competition Authority of Kenya (CAK) to acquire Minet (Mauritius) Holdings Ltd. This acquisition marks the expansion of Adenia Partners' financial services portfolio in Kenya through the insurance brokerage and pension administration firm.

• The CAK approved the acquisition of 100% of Minet (Mauritius) Holdings Ltd.
• Adenia Partners, the private-equity firm behind Bima Holdings Ltd, already controls Quick Mart Ltd, ESS Equipment Kenya Ltd, and Africa Biosystems Ltd in Kenya.
• Minet Kenya holds approximately 6% of the general-insurance brokerage market, less than 1% in long-term insurance, and 4.89% in pension administration.
• The deal meets the CAK’s merger-notification threshold, with combined assets and turnover exceeding KSh 1 billion.