Standard Chartered Bank Kenya has appointed Birju Sanghrajka as its new Managing Director (MD) and Chief Executive Officer (CEO), succeeding Kariuki Ngari, who is retiring. This appointment, pending regulatory approvals, will take effect after Ngari's term concludes on April 16, 2026.

• Birju Sanghrajka currently serves as the Head of Corporate and Investment Banking Coverage for Kenya and has over 26 years’ experience with Standard Chartered across various international roles.
• The outgoing MD, Kariuki Ngari, has been with Standard Chartered for over a decade, joining in 2009.
• The bank highlighted Sanghrajka's "deep client relationships, cross-border expertise and track record" as key factors in his appointment.

South African lender Nedbank Group has submitted a tender offer to acquire approximately 66 percent of NCBA Group's ordinary shares, aiming for a controlling stake in the Kenyan financial services provider. This proposed acquisition values NCBA at 1.4 times its book value.

• Shareholders accepting the offer would receive 20 percent cash and 80 percent in Nedbank ordinary shares listed on the JSE.
• NCBA operates across Kenya, Uganda, Tanzania, Rwanda, Ivory Coast, and Ghana, serving over 60 million customers.
• NCBA Managing Director John Gachora stated that Nedbank is an ideal partner for growth in East Africa, facilitating expansion into new markets like Ethiopia and DRC.

Standard Chartered Bank Kenya Managing Director and CEO Kariuki Ngari is set to retire on April 16, 2026, after 24 years with the bank, including seven years in his current role. His tenure was marked by significant digital transformation and strong financial performance for shareholders.

• Kariuki Ngari led a transformation resulting in over 90 percent of transactions being completed digitally.
• The bank saw significant growth in its Assets Under Management (AUM) under his leadership.
• However, StanChart was ordered to pay approximately Sh7 billion to over 600 former employees due to a pension miscalculation case lost at the Supreme Court of Kenya.