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Treasury exempts Bank of Africa from 25 per cent shareholding threshold

Bank of Africa on Monrovia Street. [Wilberforce Okwiri, Standard]

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.

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Bank of Africa BOA