A financial institution associated with Nairobi gubernatorial candidate Peter Kenneth has been granted a licence to conduct banking business in Kenya by Central Bank of Kenya (CBK).
In a communication, CBK said the license to Mayfair Bank Ltd has been granted pursuant to Sections 4 and 5 of the Banking Act (Cap 488) following the fulfillment of the stipulated licensing requirements.
Mayfair is headquartered in Nairobi and will principally target the corporate market segment.
Mr. Peter Kenneth is the founder of Mayfair Group, which owns Mayfair Insurance – and one of the key shareholders of the new bank.
Other investors are a Nairobi-based lawyer and the wealthy family that owns Grain Bulk Handlers from Mombasa, as the single largest shareholders through Masumin Investments Limited.
Ambrose Rachier, also the chairman of Gor Mahia Football Club, is listed among the 25 shareholders forming the lender.
Mayfair will launch its presence with an initial network of three branches, two in Nairobi and one in Mombasa.