Nedbank Completes Acquisition of 66% Controlling Stake in Kenya's NCBA Group
South Africa's Nedbank Group has finalized the acquisition of a 66% majority stake in Kenya-based NCBA Group Plc.
In Brief
- •South Africa's Nedbank Group has finalized the acquisition of a 66% majority stake in Kenya-based NCBA Group Plc.
- •NCBA shareholders accepted the offer to sell over 1.08 billion ordinary shares valued at roughly Ksh 110 billion.
- •Trading of NCBA shares on the Nairobi Securities Exchange will be suspended from October 21 to November 2, 2026, to reconcile the share register.
- •NCBA will remain listed on the Nairobi Securities Exchange, with the public holding the remaining 34% stake.
Why It Matters
This landmark cross-border transaction establishes a major operational presence for South Africa's Nedbank in East Africa, linking banking platforms across the Southern and East African regions. The backing is expected to help NCBA expand its reach and product offerings across its regional footprint, where it serves 60 million customers across six countries.
Key Details
- Acquired Controlling Stake
- 66%
- Estimated Deal Value
- Ksh 110 billion
- Shares Acquired
- 1,087,362,891 ordinary shares
- Trading Suspension Window
- October 21 to November 2, 2026
- Remaining Public Stake
- 34%
Context & Background
NCBA Group is a prominent East African financial services provider operating 122 branches across Kenya, Uganda, Tanzania, Rwanda, Ivory Coast, and Ghana.
What To Watch
NCBA shares are scheduled to resume trading on the Nairobi Securities Exchange on November 2, 2026, following the completion of share register reconciliation.
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