Kenya: Credit Bank aims to take list on NSE

Credit Bank remains committed to be listed on the Nairobi Securities Exchange (NSE).

According to a statement, Credit Bank reports that discussions between the principal shareholder and industry regulators and enablers are ongoing.

“Despite the ongoing challenges experienced by publicly listed companies, we remain optimistic about the strategic advantages of listing Credit Bank shares on the Nairobi Stock Exchange. The board remains dedicated to upholding exemplary corporate governance and financial inclusivity,” the bank says in a statement.

The statement further mentions that the principal shareholder is engaging with all stakeholders to secure a widespread consensus for the listing, aligning with the broader strategic plan.

“Our proposed listing signifies more than just our growth trajectory; it emphasizes our unwavering commitment to elevating Credit Bank’s status from a tier three to a tier two bank, thereby solidifying long-term stability”.

This listing on the main segment of the exchange will mark the first in approximately a decade, following the NSE’s self-listing.

The bank had recently raised its capital after selling a 20 per cent stake to Mauritius-based private equity fund

Securing the capital injection was crucial in laying the groundwork for going public given that it serves as a pointer of confidence from a strategic investor with regard to the growth prospects of the bank.