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South Africa's Nedbank Takes Control of Ncba in 66pc Stake Acquisition
The deal gives Nedbank control of NCBA while 34% of the Kenyan banking group remains publicly traded, with final settlement due in November.
- On Monday, October 19, 2026, Nedbank Group completed its 66% acquisition of NCBA Group PLC following receipt of required regulatory approvals, securing a major strategic foothold in East Africa.
- Nedbank Group chief executive Jason Quinn said the acquisition connects Southern and East African operations, providing a substantial presence where the South African lender previously maintained only a representative office.
- NCBA will retain its brand, Nairobi headquarters, and independent governance, while the public retains a 34 percent stake listed on the Nairobi Securities Exchange.
- Shares will be suspended from trading from the close of business on October 21 until November 2 to allow share register reconciliation, with transfer to Nedbank scheduled for November 3.
- The bank expects to announce final transaction figures around 5 November and consolidate NCBA results during the fourth quarter to support its broader African growth strategy.
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South Africa's Nedbank Takes Control of Ncba in 66pc Stake Acquisition
Nairobi -- South African lender Nedbank Group has completed the acquisition of a 66 percent stake in NCBA Group after securing regulatory approvals, making the Kenyan bank a subsidiary of the Johannesburg-listed lender.
·Washington, United States
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South Africa’s Nedbank clears final conditions for 66% takeover of Kenya’s NCBA
South Africa’s Nedbank has cleared the outstanding conditions for its acquisition of a 66% stake in Kenya’s NCBA Group, bringing the lender closer to securing a regional banking platform spanning East and West Africa.
·New York, United States
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Nedbank completes acquisition of 66 percent stake in NCBA
South Africa’s Nedbank Group has completed the acquisition of a 66 percent controlling stake in NCBA Group, making the Kenyan-based lender its subsidiary and expanding its presence in East...
·Dar es Salaam, Tanzania, the United Republic of
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right1Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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