Business Daily reported that Kenya's government is planning to sell Consolidated Bank of Kenya within a year. According to Joseph Kinyua, Finance Permanent Secretary the government is considering different options for the sale which includes an initial public offering, sale to a strategic investor or a combination of both. Government is aiming to list Consolidated Bank on the Nairobi Securities Exchange.

Consolidated Bank of Kenya Limited Presents at Terrapinn Holdings, Ltd.'s Banking Outlook Africa, Aug-01-2012 04:20 PM. Venue: Sandton Convention Centre, Johannesburg, South Africa. Speakers: Josephine Mutunga, Head of Risk and Compliance.

Consolidated Bank of Kenya Limited is going to be privatized by the Deposit Protection Fund Board, which intends to sell its 50.2% stake it holds in Consolidated Bank. The sale of Consolidated Bank has stalled due to incomplete constitution of the Privatization Commission. “The government through Treasury plans to privatize Consolidated Bank and has therefore directed the Privatization Commission to explore and advice on how the shares are to be sold,” said the Fund.