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KCB walks into Kenya's corporate deals market

February 21, 2014


Kenya's largest bank by assets has acquired a license to operate an investment bank as it seeks to fight for a share of Kenya's growing corporate deal making market.

KCB Capital Limited will offer advisory services on IPOs, mergers and acquisitions, privatisation, take-overs among others.

Kenya has in the rest past witnessed an escalation of corporate action with the latest being Britam's acquisition of Real Insurance.

"The Capital Markets Authority (CMA) has granted a license to KCB Capital Limited, a wholly owned subsidiary of Kenya Commercial Bank Limited, to operate as an Investment Bank under the Capital Markets Act and Regulations," said the Capital Markets Authority in a statement posted on its website.

It remains to be seen how the bank with a huge balance sheet will shape shape the future of Kenya's liveraged buyouts.

The approval brings the number of investment advisors authorized by the Capital Markets Authority to 11.

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Source: Nation (Kenya)

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