Nedbank to Acquire Controlling Stake in NCBA Group

South Africa's Nedbank Group has agreed to acquire a 66% controlling stake in NCBA Group through a cash-and-share transaction valued at approximately US$855.5 Million (R13.9 Billion). Structured as a tender offer for around 1.09 billion ordinary shares, the deal offers participating shareholders 20% in cash and 80% in newly issued Nedbank shares.

Upon completion, expected in the third quarter of 2026, NCBA will become a subsidiary of Nedbank while retaining its established brand, local management team and public listing, with the remaining 34% of its shares continuing to trade on the Nairobi Securities Exchnage (NSE).

Subject to regulatory approvals in the relevant jurisdictions, the acquisition will empower regional financial integration and long-term growth opportunities.

Advisory Team:

CLIFFER DEKKER HOFMEYR (CDH)

Ian Hayes

Peter Hesseling

Njeri Wagacha

Sammy Ndolo

Alex Kanyi

Arnold Mutisya

Sheilla Mokaya

Kevin Kipchirchir

Serah Mulatya

Michelle Kibui

Faith Wamuyu

Keagan Hyslop

Denis Maina