East Africa Economic Report

EGHL Headquarters  Four years after a spree of Mergers and Acquisitions, the two leading Kenyan banks dominate the financial market in the East Africa Common Market region. The two, KCB Group and Equity Holdings Group Plc boast a whopping capital base worth KES 3.42 trillion( US$ 23.5 billion).  KCB claims the top perch with a capital base of 1.86 trillion(US$12.75 billion) as at the end of June 2023 while Equity boasts 1.56 trillion($10.7 billion) at the current rates, over the same period.  So dominant are the two that they dwarf their local competitors. For instance, NCBA Group which ranks third among the first-tier banks in Kenya, at a capital base of KES 660 billion, is less than half the wealth of the Equity Group and just about a third of KCB group’s wealth. So large is their wealth that they stand neck on neck with the GDP of some smaller countries in the region.  KCB Group Headquarters For instance, KCB Group's capital base could hit the US$13 billion mark at the end of