Nedbank Group has acquired a 66% controlling stake in NCBA Group through a block trade on the Nairobi Securities Exchange. The transaction involved 1.087 billion shares valued at KSh107.7 billion, executed on November 3, 2026. This move positions Nedbank as the dominant shareholder in the Kenyan lender.
The acquisition was finalized after the Nairobi Securities Exchange lifted the suspension on NCBA shares, enabling the completion of the deal. NCBA will remain listed on the NSE, with approximately 34% of its shares still in public hands. The transaction is part of a broader strategy to expand Nedbank’s presence in East Africa.
This takeover follows months of regulatory approvals and negotiations between the two institutions. NCBA, a key player in Kenya’s banking sector, will now operate as a subsidiary of Nedbank. The deal underscores growing cross-border financial integration in the region.
Nedbank’s acquisition of NCBA marks a significant milestone in Kenya’s financial landscape. It reflects the increasing influence of South African financial institutions in the East African market. The transaction also highlights the role of the Nairobi Securities Exchange in facilitating major corporate restructurings.
The completion of the deal comes amid ongoing efforts to strengthen financial services in Kenya. The acquisition is expected to enhance service delivery and expand access to banking products for millions of Kenyan citizens.
