The National Bank of Kenya (NBK) is preparing to auction its fleet of vehicles, offering potential buyers an opportunity to acquire cars at prices ranging from KSh 300,000 to an impressive KSh 4.4 million.
In a notice published in the Daily Nation newspaper on Friday, December 6, the bank invited interested bidders to submit their proposals by Tuesday, December 10.
National Bank of Kenya is selling cars, with prices ranging from KSh 300,000 to KSh 4.4 million. pic.twitter.com/FbiYUPc7Ua
— Japhet Ruto (@japhet_ruto) December 6, 2024
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Auction Details and Submission Guidelines
The bank has provided clear instructions for potential buyers. As stated in the official notice:
“The motor vehicles are sold on ‘as is where is’ basis. Bids with full contact details should be submitted through email at auction@nationalbank.co.ke or placed in a sealed envelope marked tender for motor vehicle addressed to the Auction Tender Committee P.O Box 72,866-00200, Nairobi, to reach the committee not later than December 10.”
Interested parties seeking additional information can contact Judy Chege directly at 0703,088,482 for clarifications about the auction.
Acquisition by Access Bank
In a significant development, the Competition Authority of Kenya (CAK) has approved the acquisition of National Bank of Kenya by Nigeria’s Access Bank PLC on Wednesday, October 30. The approval comes with specific conditions designed to protect the local workforce and ensure business continuity.
Key conditions of the acquisition include;
– Access Bank must retain at least 80% of NBK’s current workforce.
– The local subsidiary, Access Bank Kenya, must maintain its operations for a minimum of one year following the transaction.
Background and NBK
Currently, NBK is a subsidiary of Kenya Commercial Bank (KCB) and is listed on the Nairobi Securities Exchange (NSE). Access Bank Kenya, the acquiring entity, is licensed by the Central Bank of Kenya (CBK) and operates 23 branches across 12 counties.
The proposed transaction involves Access Bank PLC acquiring NBK’s entire issued share capital from KCB Group, marking a significant moment in the Kenyan banking landscape.
