National Bank takeover bid hit by legal issues

The proposed privatisation of Kenya’s National Bank has run into trouble “following claims that the deal is being done in violation of the rules governing the sale of state-owned companies.” Critics say the government “has not complied with the privatisation law, and is proceeding with the sale without the involvement of the Privatisation Commission—the agency that oversees the sale of all state assets, including mergers. The commission is required by law to execute each privatisation proposal that the Cabinet has approved.”

Published on

May 25, 2019

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