Nigerian Banks Seen Adding Fuel to Kenya’s Deal-Making Frenzy
- Kenya’s banking industry to see more consolidation: RenCap
- Nigerian lenders are faced with punitive regulations at home
Photographer: George Osodi/Bloomberg
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Nigerian banks seeking to escape the malaise gripping Africa’s biggest economy could find refuge by expanding in Kenya, where the industry is ripe for deals and a contraction might still be avoided.
It will also offer lenders from Lagos a reprieve from rules that are far more onerous than what their counterparts in Nairobi have to contend with, said Adesoji Solanke, director for frontier and sub-Saharan African banks equity research at Renaissance Capital.