https://kenyanwallstreet...nk-under-economic-bloc/
ourteen governors have said they will acquire an existing bank under the Lake Region Economic Bloc (LREB) to propel their development agenda.
Wycliffe Oparanya, LREB chairman and Governor Kakamega County said ex KCB Group CEO Martin Oduor has been asked to help find a potential bank for the bloc’s project worth Sh2.8 billion.
“We have decided to buy an existing bank instead of establishing a new one, which will take time. […] We want a smaller bank where we have a controlling share,” Oparanya said at Lesavanna Hotel in Kisumu.
Governor Oparanya said the project is at an advanced stage and have discussed the matter over with the Controller of budget, the governor of the Central Bank, and the Auditor General.
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