New Lake region bloc mulls bank acquisition to boost economic growth

Governor Wycliffe Oparanya says the lender would be structured to provide credit facilities to the pillar sectors of Western region's economy. [photo: Chrispen Sechere/standard]

An existing commercial bank could be a target of acquisition by the Lake Region Economic bloc made up of thirteen counties, Kakamega Governor Wycliffe Oparanya has said.

The governors of the counties had agreed in principle to set aside seed capital amounting to Sh2.6 billion, or Sh200 million each, that would be spent on the acquisition.