CAK approves Zenith Bank acquisition of Paramount Bank

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Citizen TV (Youtube)

January 22, 2026

1mo ago

The Competition Authority of Kenya CAK, has approved Zenith Bank PLC’s plan to buy Paramount Bank Limited, subject to conditions to protect jobs. CAK says the takeover will not significantly affect competition in Kenya’s banking sector. However, to address concerns about job

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CAK Approves Zenith Bank's Acquisition of Paramount Bank; NCBA Faces Share Dilution - January 2026

The Competition Authority of Kenya (CAK) has approved the acquisition of Paramount Bank Limited by Nigeria’s Zenith Bank Plc. This marks a significant development for the Nigerian financial institution's expansion in the Kenyan banking sector. The approval was granted with specific conditions aimed at safeguarding employment. In a separate deal, the prominent Kenyatta, Nyachae, and Ndegwa families are set to see their shareholding in NCBA Group diluted. This is due to a proposed deal involving South Africa’s Nedbank Group.