South Africa’s Nedbank Group has cleared the final conditions to acquire a 66% controlling stake in Kenya’s NCBA Group.
The arrangement will give Nedbank control of NCBA’s operations while allowing the Kenyan lender to continue trading under its established brand and remain listed on the Nairobi Securities Exchange after completion.
The transaction’s initial valuation was R13.9 billion, although the final settlement details and timing will depend on the closing process.
Under the transaction, NCBA will retain its existing brand and listing on the Nairobi Securities Exchange, while the remaining 34% stake will remain publicly traded.
Share transfers and settlement payments are scheduled to begin on November 3, 2026.
For Black and Brown founders and businesses operating across these markets, the transaction places a major regional banking group under the control of a South African lender, although the implications for lending terms and business banking services remain unclear.
