Zenith confirms Kenyan expansion, says acquisition awaiting regulatory approval
- Zenith Bank confirms its entry into Kenya is pending final regulatory approvals.
- The bank is in advanced talks to acquire Paramount Bank Ltd, a mid-tier lender.
- This acquisition would mark Zenith's first move into East Africa.
Zenith Bank's strategic move into Kenya reflects the growing trend of West African banks seeking expansion opportunities in East Africa. This acquisition could enhance Zenith's competitive edge and market presence, but it also raises questions about the long-term sustainability of smaller Kenyan banks amidst increasing capital requirements.
