“We’re small in Kenya and would like to play a much bigger role,” says Kevin Wingfield, director of acquisitions at Stanbic, Standard Bank’s Africa business. “NBK is one that may meet those requirements. If the shareholders were interested in selling, we would look at it,”
Story was first reported by Jaindi Kisero, editor of the East African.
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It would be interesting to see how this turns out. for both NBK and Stanbic. South African firms, though seemingly superior to their Kenyan counterparts. I do not see this being any different.
However any news for NBK may be taken as good news. This is due to the fact that it is likely to be more professionaly run than before.
The question still remains as to what will be the short & long term effect of its share price and the long term effect on the running of NBK.