The Central Bank of Kenya has approved the acquisition of 66 per cent of the shareholding of NCBA Group PLC by Nedbank Group Limited.
The approval, made on August 28, 2026, under Section 13 (4) of the Banking Act, will see the South African financial services provider take over a majority stake in the Kenyan lender.
In January 2026, Nedbank announced its offer to take up a shareholding in NCBA as part of its plan to set footprints in the East African region. In January 2026, Nedbank announced its offer to take up a shareholding in NCBA as part of its plan to set footprints in the East African region.
The acquisition will see Nedbank invest upwards of 855.5 million dollars. As NCBA becomes a subsidiary of Nedbank, it will continue to trade its remaining 34% shares publicly on the Nairobi Securities Exchange (NSE).
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,” added Quinn when the Johannesburg-listed lender announced its intention to acquire a two-thirds stake in NCBA.
