South Africa's FirstRand Bank says it has stepped up its pursuit of a mid-sized Kenyan lender after failing earlier to close a deal at the right price. Business Daily reports the group is joining a rush by South African lenders into Kenya.
The Competition Authority of Kenya approved Credinvest's proposed acquisition of 100 per cent of Rafiki Microfinance Bank, per a Gazette notice under Section 46(6) of the Competition Act. The clearance is a regulatory step before the deal can complete.
