Maisha Microfinance sale of majority stake gets CAK nod
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Nairobi, Jan. 31 -- Loss-making Maisha Microfinance Bank is set to sell a majority stake to an investment firm at an undisclosed amount, deepening disposal deals by the microlenders in Kenya.
The Competition Authority of Kenya has approved the acquisition of a 55.8 percent stake in the institution by Cactus Cantina Investments Limited. Maisha closed 2021 with a loss of Sh178 million.
"It is notified for general information that in the exercise of the powers conferred upon the Competition Authority of Kenya by section 46 (6) (a) (ii) of the Competition Act, the Competition Authority of Kenya has authorized the proposed transaction," said the CAK in a gazette notice.
Maisha Microfinance Bank was licensed by the Central Bank of Kenya on M...
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