{
  "id": 6751512,
  "title": "South African FirstRand eyes Kenyan bank acquisition at right price",
  "url": "https://urgent.news/2026/09/11/south-african-firstrand-eyes-kenyan-bank-acquisition-at-right-price",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-11T11:18:33.000Z",
  "source": {
    "name": "Capital Business",
    "slug": "capital-business",
    "url": "https://capitalfm.africa/south-african-firstrand-eyes-kenyan-bank-acquisition-at-right-price/"
  },
  "original_language": "en",
  "account": "Nairobi, Kenya – South African banking conglomerate FirstRand, operator of First National Bank (FNB), has signaled ongoing interest in acquiring a Kenyan financial institution, but insists any potential deal must meet stringent criteria. CEO Mary Vilakazi disclosed to South African media outlet BusinessDay that the group has been scouting opportunities in Kenya for some time, but has yet to pinpoint a suitable target. Vilakazi emphasized that FirstRand will not proceed with a purchase unless there is a seller prepared to sell at a reasonable price. She reaffirmed that the group would not overpay for any asset. No specific timeline was provided for when FirstRand might make a move in Kenya. FNB is just one of several entities under FirstRand's umbrella, which also includes Rand Merchant Bank (RMB), Ashburton Investments, and WesBank. The group boasts a total asset base of 2.7 trillion rand, placing it as South Africa’s second-largest banking entity by assets, trailing only Standard Bank Group. The acquisition push by African banks into other markets is on the rise, with recent examples including Nedbank Group's 66 percent stake purchase in the Kenyan lender NCBA Group and Nigeria's Zenith Bank's acquisition of Paramount Bank. This trend follows a period of strong performance for Kenyan banks, with Equity Group reporting a 32 percent rise in net profit to Sh45.5 billion over the six months to June 2026, and NCBA's net profit surging 12.2 percent to Sh12.4 billion in the same timeframe.",
  "summary": "FirstRand CEO Mary Vilakazi told South African news website BusinessDay that the group has been looking for opportunities in Kenya for some time but has yet to identify a deal that meets its requirements.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Moneyweb",
        "title": "African Bank CFO resigns with immediate effect",
        "url": "https://urgent.news/2026/09/11/african-bank-cfo-resigns-with-immediate-effect",
        "published": "2026-09-11T06:56:56.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}