 BOA gained majority control of CBA in 1981 after BOA acquired shares held by other shareholders in the bank except for 16% that was held by local shareholders.Between 1984 and 1991, BOA re-organised CBA, developing and installing Bank of America's global systems and disciplines before selling its majority shares to local Kenyan investors.Bank of America continued to provide management to the bank via a management agreement before eventually selling the rest of its shares in 1991.