"Accept offer": Nedbank gives update on deal to buy 68% of Kenya's NCBA
•
Feb 24, 2026
•
Elijah Ntongai
•
Tuko
Tuko
People outside a shopping mall containing Nedbank. Photo: Moonstone Images.
Kenya's CMA grants Nedbank exemption from mandatory takeover rules, enabling its 66% stake acquisition in NCBA Group, now backed by 77.54% shareholder commitment.
Key Takeaways
- Nedbank Group has secured regulatory approval from Kenya's Capital Markets Authority (CMA) for an exemption from making a mandatory takeover offer for 100% of NCBA Group PLC.
- Nedbank has received irrevocable undertakings from NCBA shareholders, bringing committed acceptances to 77.54% of the total issued shares.
- The deal, valued at approximately R13.9 billion (KSh 109.9 billion), is a significant cross-border banking transaction in East Africa.
- The CMA exemption, granted on February 19, 2026, allows Nedbank to acquire more than 50% without being obligated to buy out all remaining shareholders.
Read full article
markets-stocks