Jamii bora has been for sale for a while now

The bank wasn't going to survive in the coming years.The owners are happy for that deal.

NIC deal will also go through.

Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop. My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.

"The lender has not released its half-year and third-quarter financials, having received an exemption from the Central Bank of Kenya (CBK) to facilitate the ongoing buyout." "CBA was able to make an offer below book value because it expects to inject additional capital into Jamii Bora which, for instance, has suffered liquidity shortfalls. The lender’s liquidity ratio stood at negative 11.1 per cent in March, far short of the minimum statutory requirement of 20 per cent. This means that its ability to meet short-term obligations is significantly limited."