Nairobi, May 11 -- Family Bank is eying up to $100 million (Sh13.7 billion) through private placement to fund acquisitions in Kenya and Eastern or Central Africa in the race to tier I status.

Family Bank chief finance officer Stephen Karumbi said on Wednesday the bank wants to raise the money within the next 12 months and fund the two deals as well as a possible acquisition of a controlling stake in a fintech firm.

"In the local market, we are currently actively looking out for opportunities to acquire a bank. We believe there are still opportunities especially within the tier III and even deposit-taking microfinance institutions," said Mr Karumbi.

"We are also planning regional expansion. We have already done the groundwork in terms o...