Kenya’s banking sector is considered to be among the strongest in the east Africa region, and several of its lenders have established a multinational presence in the region and beyond. But a proliferation of small banks, two of which have collapsed in recent months, has led to considerable hand-wringing over the need to consolidate the country's fragmented market.
There are 41 banks operating in Kenya, 13 of them foreign owned. But six of these account for 50% of total market share, while a further 16 banks control 42% of the market, leaving 12 banks with just an 8% share between them.
