CBK confirms Nedbank’s acquisition of up to 66% of NCBA Group
The Central Bank of Kenya (CBK) has confirmed its approval of Nedbank Group Limited’s acquisition of up to 66 per cent of the issued share capital of NCBA Group PLC, clearing a major regulatory hurdle for the South African lender’s planned takeover of the Kenyan financial services group. CBK said in a statement issued on […]
The Central Bank of Kenya (CBK) has given its approval for Nedbank Group Limited's acquisition of up to 66 percent of NCBA Group PLC's shares. This significant regulatory clearance comes after CBK's approval on August 28 under Section 13(4) of the Banking Act. The acquisition is expected to finalize once the transaction is completed as per the agreement between Nedbank and NCBA.
This approval clears a major hurdle for Nedbank's planned takeover of the Kenyan financial services group. The acquisition, announced in January 2026 by Nedbank, aims to enhance the South African lender's presence in East Africa and accelerate its growth in the region. Once completed, Nedbank will gain a controlling stake, with the remaining shares continuing to be held by other shareholders and traded on the Nairobi Securities Exchange (NSE).
This move is expected to reshape ownership of one of Kenya's largest banking groups and bolster Nedbank's growth strategy in Africa.
Written by urgent.news from People Daily Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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