Nedbank secures 66% stake in NCBA after Sh23.2 billion cash‑share deal
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South African Nedbank acquired a majority stake in Kenya's NCBA Group. The purchase price exceeded Sh23.2 billion in cash and shares. With a 66% shareholding, Nedbank now holds controlling interest. NCBA Group continues to be listed on the Nairobi Securities Exchange. The transaction gives Nedbank direct influence over the Kenyan lender. It reflects cross‑border investment activity within African banking.
South African Nedbank has taken control of Kenya’s NCBA Group, acquiring a 66% shareholding for over Sh23.2 billion while the lender remains listed on the Nairobi Securities Exchange.