Bank of Africa Kenya - Ownership and Business Overview

Financial ServicesCompany

Bank of Africa Kenya Ownership

Who owns Bank of Africa Kenya?

Bank of Africa Kenya is owned by The Abraaj Group. It was acquired on December 1, 2006.

Is Bank of Africa Kenya PE-backed?

Yes. Bank of Africa Kenya is owned by private equity investor The Abraaj Group.

Bank of Africa Kenya Business Overview

Where is Bank of Africa Kenya headquartered?

Bank of Africa Kenya is headquartered in Nairobi, Kenya.

What sector is Bank of Africa Kenya in?

Bank of Africa Kenya is a financial services company.

When was Bank of Africa Kenya founded?

Bank of Africa Kenya was founded in 2004.

Financial Services M&A Summary in 2006

Out of 60 sectors in the Mergr database, financial services ranked 8 in number of deals in 2006. The largest financial services acquisition in 2006 was Golden West Financial - which was acquired by Wachovia for $25.5B.

Subscribe to Mergr to view all 137 acquisitions of financial services companies in 2006, including 52 acquisitions by private equity firms, and 85 by strategics.

Acquired by The Abraaj Group (Investor) on 2006-12-01

Bank of Africa Kenya (BOAK)

Re-Insurance Plaza Taifa Road,
Nairobi,
Kenya,
254 20 327 50 00
www.boakenya.com

The commercial Bank of Africa Kenya (BOAK) is part of a larger West African Banking Group that is seeking diversification in East Africa. BOAK is based in Kenya, and has a presence in Uganda, Tanzania, Burundi and the Democratic Republic of Congo. The West African Banking Group entered the East African banking market in July 2004 through the acquisition of a subsidiary of Credit Agricole Indosuez, creating BOAK. Bank of Africa Kenya, alongside The Abraaj Group and other investors, then acquired two subsidiaries of Belgolaise Bank (a subsidiary of Fortis Bank) in Uganda and Tanzania.

Company Summary

SECTOR

Financial Services

Established

2004

Investor History
2006-12-01
Buyout (LBO, MBO, MBI)

The Abraaj Group PE

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