Credit Bank seeks shareholder approval to raise Sh4.5bn
NAIROBI, Kenya, Dec 8 — Credit Bank is seeking shareholder approval to raise up to Sh4.5 billion through a private placement, alongside proposals to Kenya breaking news | Kenya news today |..
✨ Key Highlights
Credit Bank is seeking shareholder approval to raise up to Sh4.5 billion through a private placement and other financial maneuvers, aiming to bolster its capital base and fund growth.
- The bank plans to issue up to 45 million ordinary shares at Sh100 each to existing shareholders and qualified investors.
- An Extraordinary General Meeting (EGM) is scheduled for Friday, December 19, 2025, to discuss these proposals.
- Credit Bank also seeks to acquire land on Kiambere Road, Upper Hill, valued at Sh1.2 billion, from Shangrilas Villas Co. Ltd in exchange for 12 million ordinary shares.
- Additionally, a USD 1.5 million convertible note will be issued to ShoreCap III LP to supplement its capital.
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Credit Bank Seeks Sh4.5bn, NCBA Targets Creatives, and GenAfrica Acquires 'The Cube' Property - December 2025
Several financial and investment entities have announced significant capital and business initiatives. Credit Bank is seeking approval from its shareholders to raise up to Sh4.5 billion through a private placement to bolster its capital base and fund growth. In a move to support a different sector, NCBA Bank and HEVA Fund have partnered to launch bespoke credit products targeting Kenya’s creative economy. This partnership aims to address a long-standing gap in financial services for artists and creative enterprises. In the real estate sector, GenAfrica Asset Managers has acquired The Cube, a commercial property on Riverside Drive. The acquisition was made through its Batian Property Fund as part of a strategy to boost pension returns.
