THINK BANKING & FINANCE – MAKE IT KENYA
Kenya’s financial sector is the third-largest in sub-Saharan Africa and it makes a significant contribution to economic growth and job creation. Through Vision 2030, the Government aims to create a ’’vibrant and globally competitive financial sector”.
In banking, there are opportunities to increase scale and enhance the capital base through consolidation and mergers of smaller players. Out of 44 commercial banks, only six are classified as large, controlling 52.4 per cent of assets. The remainder are small and have limited reach, thus restricting competition.