Competition Authority of Kenya

The proposed transaction involves acquisition of the entire issued share capital of NBK by Access Bank Plc from KCB Bank Group Plc. The transaction also involves acquisition of indirect control of NBBIL. Post-merger, the acquirer intends to amalgamate the target and its Kenyan subsidiary, Access Bank (Kenya) Plc. Merging parties whose combined turnover or assets, whichever is higher, is over Ksh. 1 Billion are required to seek approval from the Authority prior to implementing the proposed transaction. The transaction met this threshold for mandatory notification and full analysis as provided in the Competition (General) Rules, 2019 and the Competition Act CAP 504.       The proposed acquisition was initially notified to the COMESA Competition Commission (CCC). However, the Authority requested for and received referral of the Kenyan aspect of the transaction as provided under the COMESA Competition Regulations.

In exercise of its mandate of controlling mergers and acquisitions in the country, the Competition Authority of Kenya (the Authority) has conditionally approved the proposed acquisition of the entire issued share capital of National Bank of Kenya Limited (NBK) by Access Bank PLC. The transaction has been approved on condition that Access Bank Plc retains, for a period of one (1) year following completion of the transaction, at least of 80% of the target’s current workforce and all Access Bank (Kenya) Plc employees, its local subsidiary. Currently, the target has 1,384 employees while the acquirer’s Kenyan subsidiary has 316 staff members. In Kenya, the NBK controls two undertakings: i)    NBK Bancassurance Intermediary Limited (NBBIL) which engages in bancassurance. This entity is part of the transaction. ii)   KCB Asset Management Limited which engages in fund management and investment advisory services. This entity is NOT part of the proposed transaction since it had been transferred to KCB Group Plc.

The Authority is seeking to fill eight (8) vacancies that have arisen in various functional areas. See attached flyer for more details. The job descriptions & specifications are available on the Authority's Website -> https://lnkd.in/dnsXqSaD Deadline: 12th Nov. 2024 at 5PM.

The CAK fraternity wishes our heroes, the Kenyan public, a happy Mashujaa Day.

And that's a wrap for #ACER2024! On Thursday, we hosted a book launch cocktail and networking event for our forthcoming book co-edited by myself, Simon Roberts and Jonathan Klaaren. To be published by HSRC Press, the book is entitled 'Regulating for Rivalry: The Development of Competition Regimes in Africa'. It is a compilation of chapters from papers presented at previous ACERS, along with other CCRED-related work. https://lnkd.in/diRDKePc Centre for Competition, Regulation and Economic Development (CCRED)

During the official closing of the #CAKSymposium, CAK Board Member, Ms. Lena Munuve emphasized the importance of regional collaboration & knowledge sharing among competition agencies in Africa, and the need to enhance research for well-informed and data-driven decision-making. "In these times of limited resources, both financial and human, there is need to more collaboration when undertaking cross-border investigations into anti-competitive conduct, especially cartels. There is also need for us to work together in harmonizing merger analysis, to reduce bureaucracies & costs for investors, as well as partner in undertaking market inquiries," she said. Centre for Competition, Regulation and Economic Development (CCRED) COMESA Competition Commission Reena Das Nair Simon Roberts Ninette Kaari Mwarania, MKIM Shamba Centre for Food & Climate Shaka Kariuki

Mr. Lawrence Kibet, MBS, Director-General, Public Investments and Portfolio Management, the National Treasury (center), Mr. Joseah Rotich, Board Member, Competition Authority of Kenya (right) and Dr. Adano Wario, Director, Policy & Research, Competition Authority of Kenya, during a cocktail and book launch ceremony as part of the 11th Annual Symposium on Competition Law and Policy. #ACER2024 #CAKSymposium Centre for Competition, Regulation and Economic Development (CCRED) COMESA Competition Commission Shaka Kariuki

The 3-day Capacity Building Workshop concluded today with discussions centering on, among others, economic evidence in analyzing and deciding cases as well as exploring the centrality of market inquiries & studies in achieving positive competition outcomes. Centre for Competition, Regulation and Economic Development (CCRED)'s Acting Director Reena Das Nair observed that "based on the robust engagements during the sessions, the trainees drew a lot of value from the courses, especially the case studies shared by our expert practitioners." Mr. David Kemei, the Authority’s Director-General, officiated the closing of the Workshop, imploring upon the participants to utilize the knowledge gained to enhance service delivery in their respective stations, and toward achieving the collective objective of creating more competitive markets that are pro-consumers.

Day 3 and the final day of the #ACER2024 PTPs, where we have merged the Competition and Consumer Protection PTP with the Competition Law and Regulation PTP for a super-charged session on regional competition issues and consumer protection! Centre for Competition, Regulation and Economic Development (CCRED) COMESA Competition Commission Competition Authority of Kenya #ACER2024 Jonathan Klaaren Yasmin Carrim Arthur Mahuma

Day 2 of 3 the Annual Capacity Building Workshop: The topics of discussion today were, among others, vertical foreclosure by digital platforms, international merger developments, and regional collusion cases, and screening of cartels. The Masterclass focused on digital platforms, including presentations on case law and the legislation amendments in the UK. The lead presenters were Jenny Haydock, Deputy Chief Economic Advisor at the UK's Competition and Markets Authority and Massimo Motta, former EU chief economist. Prof. Reena Das Nair from Centre for Competition, Regulation and Economic Development (CCRED) made a presentation on collusion and how businesses sustain a collusive agreement, factors of tacit coordination, hub and spoke cartels, information exchange and appropriate standards and the implication of algorithms and big data on cartel investigations. COMESA Competition Commission's Director, Competition Division, Mr. Boniface Makongo, exposed attendees to the legal due processes during investigations, including the likely bases for substantive and procedural challenges, as well as as best practices during information requests, interviews, and interrogations. The Workshop concludes tomorrow (16th October). The #CAKSymposium will take place between 17th-18th October, 2024. Simon Roberts Heike Fickel Shamba Centre for Food & Climate Willard Mwemba