Kangde Xin Composite Material Grup CoLtd : Kenyan watchdog approves Commercial Bank of Africa and NIC Group merger

NAIROBI (Reuters) - The Competition Authority of Kenya approved on Monday a proposed merger between Kenya's Commercial Bank of Africa and NIC Group, the regulator said in a statement.

It said the approval was on the condition that no employees would be made redundant in the merged unit within 12 months of the deal's completion.

(Reporting by Hereward Holland, editing by Louise Heavens)