Lake Region economic bloc to buy a bank and set up a fish factory in Kisumu

Kakamega Governor Wycliffe Oparanya

The newly formed Lake Region Economic Bloc, a brainchild of 14 counties in Western Kenya, has opted to buy an existing bank instead of starting one from scratch.

To bypass the long route of applying for a licence, the bloc is now scouting for a bank from the 43 lending institutions licenced by the Central Bank of Kenya (CBK) to either purchase in full or acquire majority of its shares.