The Commercial Bank of Africa (CBA), a leading Kenyan commercial bank majority-owned by the Kenyatta family, is looking to acquire a stake in a distressed lender in the Democratic Republic of Congo. According to a report by Kenya’s Business Daily newspaper, CBA has written to the Central Bank of the Democratic Republic of Congo (DRC) asking to participate in the re-capitalization of Banque Internationale Pour l’Afrique au Congo (BIAC), after the lender was placed under statutory management in May after it failed to access new credit lines from the regulator. The Kenyatta family whose most recognizable member is Uhuru Kenyatta, the current President of Kenya, has been expanding its empire outside ...
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