Race for top spot drives lenders on acquisition spree

Pressure from shareholders to deliver dividends and fixation with lenders’ positions in the market said to be key motivators of growing trend by Kenyan banks.

Daniel Kimotho’s bald head and his choice of attire are a reflection of the average age of the Kenyan investor in banking stocks.

At the recent Equity Bank Annual General Meeting, Mr Kimotho was all suited up in a striped navy blue suit and an orange tie to complete his rather curious ensemble that matched the bank’s corporate colours.