Foreign and Kenyan Investors Acquire Over 57% Stake in Gulf African Bank – Full Details

Gulf African Bank has announced a major shift in its ownership structure after foreign and local investors acquired a combined stake of more than 57% in the lender.

Soren Investment Company Limited, a United Arab Emirates (UAE)-based investor, and Auron Holdings Limited, a Kenyan investment firm, have acquired a combined 57.72 % stake in the bank, purchasing the shares from Bahrain’s Al Salam Bank, Dubai-based Istithmar World Limited and the Washington, D.C.-headquartered International Finance Corporation.

In a notice dated Friday, April 24, 2026, the Shari’ah-compliant bank confirmed that Soren Investment Company Limited acquired a 42.78 per cent stake, while Auron Holdings Limited took up 14.94 per cent.

“Gulf African Bank wishes to make the following announcement in respect to its shareholding,” read part of the notice.

Soren and Auron Acquire Over 57% Stake in Gulf African Bank in Strategic Deal

The bank stated that all the transactions have received the necessary regulatory approvals and have since been completed.

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According to the lender, the entry of the new investors signals strong confidence in both the bank and Kenya’s banking sector.

It described the deal as a significant milestone in its growth strategy, noting that it will enhance its capacity to deliver value while strengthening its Shari’ah-compliant banking model.

About Soren Investment Company Limited

Soren Investment Company Limited, which is registered in the Dubai International Financial Centre (DIFC), focuses on acquiring banking institutions and expanding fintech capabilities across Africa.

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The firm already holds majority stakes in banks operating in Sudan and Tanzania and has also invested in a fintech company aimed at advancing digital financial solutions.

On its part, Auron Holdings Limited is a privately owned Kenyan company with a diversified investment portfolio. The acquisition forms part of its long-term strategy to expand its footprint in the financial services sector.

About Gulf African Bank

Gulf African Bank is one of Kenya’s leading Shari’ah-compliant financial institutions, offering a range of ethical banking products tailored to individuals and businesses.

Other shareholders in the bank include the Trade and Development Bank, GulfCap FZC, Sheikh Abdullah Mohammed Al Romaizan and a number of individual investors from Kenya and the Gulf region.

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Photo of Gulf African Bank Offices. PHOTO/Gulf African Bank