The Standard | by Dominic Omondi
Shareholders of Bank of Africa (BOA) Kenya have been exempted from a 25 per cent shareholding threshold to allow them recapitalise the lender.
In a Special Gazette notice, National Treasury Cabinet Secretary Ukur Yatani exempted the lender from a legal provision that caps the ownership of a bank.
“In exercise of the powers conferred by Section 53(1) of the Banking Act, the Cabinet Secretary for the National Treasury and Planning exempts the Bank of Africa Kenya from the provisions of section 13 (1) of the Banking Act…
