Visa appoints Eva Ngigi-Sarwari as new country manager for Kenya

KENYA – Global payments technology company, Visa has appointed Eva Ngigi-Sarwari as its new Country Manager for Kenya. Eva will serve as the Senior Business Development Leader and Country Manager for Kenya, reporting to Corine Mbiaketcha, Vice President and General Manager for Visa in East Africa and will be part of the East Africa Leadership team. “She will be responsible for the development and implementation of our growth strategy in Kenya and her appointment is in line with Visa’s vision to continue to build a solid regional team by matching…

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Cooperative Bank gets a nod to acquire 90% stake in Jamii Bora Bank

KENYA – The Central Bank of Kenya has announced the acquisition of 90 percent of the shareholding of Jamii Bora Bank Limited by the Co-operative Bank of Kenya Limited effective August 21st, 2020. The banking regulator said in a gazette notice that the deal has received all the required regulatory approval, the latest being by National Treasury on August 4. Co-op Bank early March opened talks to buy a majority stake in Jamii Bora Bank. The two parties valued the deal at KSh1 billion (US$9.26m), which was endorsed by Jamii…

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Kenya’s Cooperative Bank in talks to acquire Jamii Bora Bank

KENYA – The Co-operative Bank of Kenya is set to acquire 100 per cent shareholding in Jamii Bora Bank, bolstering the listed lender’s asset base and deepening the acquisitions in Kenya’s banking sector This will see the tier-one lender strengthen its asset base to over KSh462 billion (US$4.62bn). The transaction is subject to the successful completion of due diligence by the relevant professional bodies, approval by the Board of Directors and Shareholders of both Co-operative Bank of Kenya Limited and Jamii Bora Bank. It is also subject to approvals by…

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