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South African lender Nedbank completed its takeover of about 66% of Kenya's NCBA Group on 19 October, after holders of 79.9% of the shares accepted its offer of cash and new Nedbank shares worth about 13.9 billion rand ($800 million). NCBA is Kenya's fourth-largest bank by assets, which reached Sh716 billion ($5.5 billion) at the end of 2025, and also operates in Uganda, Tanzania and Rwanda. Nedbank, more reliant on South Africa than its local rivals, until now had only a representative office in East Africa. The deal gives it a ready regional network and a large digital lending business, while NCBA keeps its brand and its Nairobi listing, with 34% of shares left with public investors.
