Kenya: Fitch Ratings Puts NCBA On Watch After Nedbank Bid

Kenya: Fitch Ratings Puts NCBA On Watch After Nedbank Bid

Fitch Ratings placed NCBA Group Plc and NCBA Bank Kenya Plc on Rating Watch Positive after South Africa's Nedbank Group offered to acquire a majority stake in the lender.

Nedbank promises to retain NCBA staff in Kenyan takeover

Nedbank Group, South Africa’s fourth-largest bank by assets, has committed to retaining all current NCBA employees after completing its proposed acquisition of the Kenyan lender, seeking to ease concerns that typically follow such large cross-border bank acquisitions in East Africa. NCBA disclosed the assurances in a Monday notice of additional information, saying its staff would play a central role in Nedbank’s regional expansion strategy. The …

Nedbank Locks In Staff Retention In NCBA Takeover

When a foreign bank moves to take control of a local lender, the first anxiety rarely concerns strategy. It concerns people. Jobs, reporting lines, the slow erosion of institutional memory. That context sits behind Nedbank’s commitment to retain existing NCBA employees once its proposed acquisition closes. The assurance reads less like generosity and more like … The post Nedbank Takes Control Of NCBA With Workforce Intact appeared first on TechT…