US EditionSouth Africa's Nedbank to Buy Majority Stake in Kenya's NCBA for $856 ...
Nedbank aims to expand its East African presence by acquiring 66% of NCBA Group in a $855.5 million deal, targeting growth in a region with strong trade links and demographics.
- On Jan 21, Nedbank Group offered to buy a 66% stake in Kenya's NCBA Group for 13.9 billion rand, which would make NCBA a subsidiary if completed.
- As part of a regional expansion strategy, Nedbank highlighted East Africa's strong macroeconomic fundamentals, large population, and role as a trade corridor linking Africa with Asia.
- Using new Nedbank ordinary shares listed on the Johannesburg Stock Exchange, the transaction is based on a 250 rand per share price and would be settled 20% in cash.
- NCBA would remain listed on the Nairobi Securities Exchange with 34% of shares publicly traded, operating in Kenya, Uganda, Tanzania and Rwanda, serving more than 60 million customers with 122 branches.
- Quinn said `By combining NCBA's substantial local presence and Nedbank's capital base, expertise and enduring commitment to Africa, we see a compelling platform for sustainable growth in the region` and framed the acquisition as strategic to Nedbank Group's East Africa expansion.
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Nedbank eyes East Africa growth with Kenya's NCBA takeover
Nedbank has put an offer to acquire controlling stake in Kenyan-based NCBA bank at R13.9-billion. The Notice of Intention to acquire 66% of NCBA’s issued share capital was submitted to the NCBA board, Kenyan Capital Markets Authority, Nairobi Securities Exchange, and Competition Authority of Kenya on Wednesday. This comes after Nedbank sold 21.2% of its stake in Ecobank Transactional Incorporated to Bosquet Investments at R1.8 billion recently, …
Kenya's Banking Overhaul Sparks Acquisition Spree As Top African Lenders Poach
The latest among a flurry of identical moves by pan-African financial heavyweights to secure a strategic foothold in Kenya, East Africa’s largest economy, through acquisition, has emerged in South Africa’s Nedbank’s formal bid to acquire a controlling stake in Kenya’s NCBA Group. Nedbank proposes to buy approximately 66% of NCBA’s shares from existing shareholders in a deal that values the Kenyan lender at 1.4 times its book value. Shareholders …
South Africa’s Nedbank Group to acquire 66% stake in NCBA
In a move set to reshape the East African banking landscape, South Africa’s Nedbank Group Limited has officially issued a notice of intention to acquire a controlling 66% stake in NCBA Group PLC. The proposed deal, announced on January 21st, 2026, values the Kenyan-based financial powerhouse at 1.4 times its book value. If successful, the […] The post South Africa’s Nedbank Group to acquire 66% stake in NCBA appeared first on HapaKenya.
Nedbank moves to acquire 66% stake in Kenya's NCBA Group in $855.5M cash-and-shares deal - Innovation Village | Technology, Product Reviews, Business
Nedbank Group, one of South Africa’s largest and most diversified financial institutions, serving more than 8 million clients, has unveiled plans to acquire a controlling stake in Kenya’s National Commercial Bank of Africa (NCBA) Group. The proposed transaction, structured as a combination of cash and newly issued shares, carries a total value of approximately $855.5 million. If completed, the deal would represent a major milestone in Nedbank’s …
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