Commercial Bank of Africa - Nakuru, Kenya

Commercial Bank of Africa Ltd (CBA) was established in 1962 in Dar es Salaam, Tanzania, and soon after opened branches in Nairobi and Mombasa in Kenya, and in Kampala, Uganda. The bank was incorporated in Kenya in 1967, following the nationalisation of banks in Tanzania. Initially, CBA was a subsidiary of the Swiss-based consortium Societe Financiere pour les pays D'Outre Mer (SFOM), consisting of Bank of America, Commerzbank, Bank Bruxelles Lambert and Banque National de Paris. In 1980, Bank of America purchased the shares of all the other SFOM partners and CBA became a subsidiary of Bank of America, with 16% of the shares held by Kenyan investors. Bank of America reorganised CBA, introducing Bank of America's global systems and disciplines before selling its majority shares to local  

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investors. Bank of America continued to provide management to the bank through a management agreement before selling the remaining shares. Today, CBA is one of the largest privately owned banks in East Africa, with operations in both Kenya and Tanzania.