Nairobi, March 25 -- The Privatisation Authority has rolled out the sale of Development Bank Kenya (DBK), barely a month after the Cabinet approved the transfer of the ownership of the lender to private hands.

The government on Friday invited consultants to guide the sale of the bank, setting the stage for another acquisition in the banking sector. Only last week, Nigerian top lender, Access Bank Plc signed a deal to acquire National Bank of Kenya(NBK) from KCB Group at an estimated Sh13.2 billion.

The Privatisation Authority said it had received funds from the Treasury to procure the services of a transactional advisor to help it with crafting a detailed work plan that will lead to the sale of DBK's shares by public tender.

"The Priva...