Commercial Bank of Africa

The bank is majority-owned by the Kenyatta family, with the stake historically held through the family's investment vehicle. Following the 2019 merger with NIC Group to form NCBA Group, the Kenyatta family and other legacy CBA shareholders became substantial shareholders in the combined listed entity. Public filings show the family remaining among the largest individual bloc of investors.

M-Shwari earns interest income on micro-loans disbursed via the M-Pesa mobile platform, with credit terms typically ranging from 30 to 90 days. The bank uses a proprietary credit-scoring algorithm built on Safaricom airtime and M-Pesa transaction history, which has historically produced strong repayment rates. Deposits mobilized through M-Shwari also provide a low-cost funding base for the bank's broader lending operations.

In 2019, CBA executed a share-swap merger with NIC Group to create NCBA Group PLC, which trades on the Nairobi Securities Exchange. The merged entity continued operating all CBA and NIC legacy brands, infrastructure, and partnership agreements — including the M-Shwari agreement with Safaricom. CBA shareholders controlled the majority of the combined entity at closing.

No. CBA ceased to exist as a separately licensed entity following the completion of the merger with NIC Group on October 1, 2019. All assets, liabilities, and contracts transferred to NCBA Group. The legacy CBA subsidiary operations in Tanzania, Uganda, and Rwanda were rebranded under the NCBA banner.

Legacy CBA had full banking subsidiaries in Tanzania, Uganda, and Rwanda, with a representative office in Côte d'Ivoire. The bank's loan book concentrated on Kenyan and Tanzanian corporate credit alongside the digital micro-loan portfolio generated through the Safaricom partnership. As part of NCBA, that East African footprint is now integrated into a broader regional corporate, retail, and digital banking network.