CBK lifts ban on licensing of new commercial banks
The Central Bank of Kenya (CBK) has ended a decade-long moratorium on the licensing of new commercial banks in the country, citing an improved legal and regulatory environment.
The regulator said that the moratorium, which started on November 17, 2015, following the collapse of two banks in quick succession, will be lifted with effect from July 1, 2025.
Dubai Bank Kenya Limited and Imperial Bank Limited collapsed in August and October 2015, respectively, followed by Chase Bank Kenya in April 2016, hurting customer confidence in the sector.
“Significant strides have been made in strengthening the legal and regulatory framework for Kenya’s banking sector,” said CBK in a statement on Wednesday.
“Following the lifting of the moratorium, new entrants to the Kenyan banking sector will be required to demonstrate that they can meet the enhanced minimum capital requirements of Sh10 billion,” it added.
The Sh10 billion requirement was introduced in the Business Laws (Amendment) Act, of 2024, which revised the minimum core capital from Sh1 billion. Lenders below this threshold were directed to incrementally grow the figure over a five-year period.
Banks are required to close this year with a minimum core capital of Sh3 billion, rising to Sh5 billion by the end of 2026 and Sh7 billion by the close of 2027.
The lenders will then be required to boost the figure further to Sh8 billion by the end of 2028 and take it to Sh10 billion by December 2029.
The lifting of the moratorium will allow investors to obtain greenfield banking licences, as opposed to the current situation where those wishing to enter Kenya’s banking sector have had to rely on mergers and acquisitions.
CBK’s moratorium and push for stronger banks triggered mergers and acquisitions by existing players and the entry of new local and foreign strategic investors into the sector.
Dubai Islamic Bank and Mayfair Bank (now Commercial International Bank Kenya) were the last banks to receive new licences in 2017, with the lenders having made their applications before the moratorium.
The decade-long moratorium has seen the number of banks in the country reduce from 44 to 38.
Some of the banks that have been acquired or ceded stakes during this period include Giro Commercial Bank, Fidelity Commercial Bank, Chase Bank, National Bank of Kenya (NBK), Jamii Bora Bank, Prime Bank, Credit Bank, Transnational Bank, Mayfair Bank, First Community Bank, Sidian Bank and Spire Bank.
“Stronger and more resilient banks will be able to navigate the growing risks in the global, regional, and domestic arenas. Additionally, they will be able to support large-scale financing needs to meet Kenya’s development aspirations,” said CBK.
I&M Holdings acquired Giro Commercial Bank in mid-2016 as Tanzania’s M Bank acquired Oriental Commercial Bank. This was followed by SBM Holdings acquiring Fidelity Commercial Bank in November 2016.
Diamond Trust Bank snapped Habib Bank in March 2017 before SBM was back in 2018 with the acquisition of certain assets and liabilities of Chase Bank.
The same 2018 saw KCB Group acquire certain assets and liabilities of Imperial Bank, while AfricInvest Azure bought a stake in Prime Bank, followed by Oiko Credit buying a stake in Credit Bank the following year.
Other deals include the merger of CBA Group and NIC Group to form NCBA Group in 2019, and the acquisition of NBK by KCB Group in the same year.
Access Bank of Nigeria acquired Transnational Bank in 2020, while Egypt’s Commercial International Bank bought an additional stake in Mayfair Bank to take full ownership. Co-operative Bank of Kenya acquired Jamii Bora Bank in the same year.
Equity Group acquired Spire Bank in 2022, while Somalia’s Premier Bank Limited bought First Community Bank in 2023.
Private investors, including insurance firms, acquired stakes in Sidian Bank, while KCB is on the verge of selling NBK to Access Bank.
Shows
See AllAM Live
AM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.
Business Redefined
Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.
Comedies
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Creatives & Coins Podcast
A podcast that dives deep into the vibrant and rapidly evolving digital creative economy in Kenya. This show explores the lives, challenges, and triumphs of individuals who are successfully navigating the gig and creative economies. From digital artists and content creators to freelance writers and tech entrepreneurs, we spotlight the voices that are shaping the future of work in Kenya.
Documentaries
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Entertainment
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Fixing The Nation
Fixing the Nation is a bold and groundbreaking show that will take an unflinching look at challenges facing the Kenyan society and the solutions that can move us forward. It is anchored by respected journalists Eric Lattif, Janet Mbugua, and Mariam Bishar. Podcast created by: Nation FM
Fixing the Nation
Fixing the Nation is a bold and groundbreaking show that will take an unflinching look at challenges facing the Kenyan society and the solutions that can move us forward. It is anchored by respected journalists Eric Lattif, Janet Mbugua, and Mariam Bishar
Full Episodes
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Gumzo La Sato
Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.
Health Diary
Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.
Letter To My Younger Self
Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.
Nation Reports
Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.
Noma
NOMA is a gripping family drama that delves into the complexities of sibling rivalry, parental expectations, and the struggle for identity within a powerful business family In the heart of Nairobi, the Mwamba family stands as a beacon of success, with a thriving business empire built by the patriarch, MZEE AMAON MWAMBA. However, beneath the surface, the family is fractured by jealousy, unspoken desires, and the weight of expectations.
One Health Lens Podcast
Discussing health matters and human stories from Kenya and across Africa. We talk big picture from people to policy, ecosystems, and everything in between. Follow us on LinkedIn: https://www.linkedin.com/company/onehealthlens
Paradise Lost
Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.
Primetime
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Speaking of GEN Z
Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.
Sport On
Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.
Tech-over
The extent of technological growth is beyond mere acknowledgment; it has seamlessly integrated into our daily existence. A few years ago, the notion of paying electricity bills through mobile money or recharging with 'tokens' in Kenya seemed inconceivable. Online product sales were considered distant, and artificial intelligence is rapidly reshaping various facets of our lives. Amidst these technological leaps, those with a solid understanding of tech can navigate challenges, seize opportunities, and build a sustainable livelihood. Tech over Show aims to be the platform facilitating discussions among thought leaders, innovators, tech companies, and the government, addressing challenges and opportunities in Kenya's thriving tech industry.
Thamani
Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.
The Politalk podcast
This is The Politalk podcast. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.
The Trend
A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.
The trend podcast
The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA
The Wicked Edition
The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience
Trending
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Twende
Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.
Unscripted
This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.
VIP Access
VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.
WADR
This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.
When death do us part
In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.
Your World
Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.