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.