Nedbank completes its purchase of a 66% stake in Kenya's NCBA Group

South Africa's Nedbank Group completed its acquisition of a 66% stake in NCBA Group on 3 November 2026, through an on-market block trade of 1.087 billion NCBA shares on the Nairobi Securities Exchange. Accepting shareholders received Sh23.23 billion ($178.74 million) in cash, and Nedbank issued 43.63 million new Nedbank shares as part of the payment. NCBA stays listed on the NSE, with about 34% held by the public.

Why it matters

It is one of the largest cross-border bank takeovers in East Africa and brings a major South African lender directly into Kenya's banking market.

Source: Capital FM via AllAfrica · 4 November 2026

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