Nedbank Group Limited offers R13.9 billion for control of NCBA

Nedbank is buying control of NCBA to muscle deeper into East Africa with a cash-and-shares play.

Deal snapshot

• Nedbank Group Limited made an offer for roughly 66 percent of NCBA.
• Total consideration sits near R13.9bn.
• Offer pricing uses ZAR 250 per Nedbank share.

How the ownership shakes out

• NCBA becomes a Nedbank subsidiary.
• Minority shares keep trading publicly.
• Nairobi Securities Exchange listing stays intact.

Payment structure

• Consideration splits 20 percent cash.
• The remaining value comes via new Nedbank shares.
• Johannesburg Stock Exchange handles the listing.

Why Nedbank wants this

• Jason Quinn calls it a strategy milestone.
• East Africa is flagged as high priority.
• Regional growth beats domestic saturation.

What NCBA brings

• Strong local brand across multiple countries.
• Digital banking and lending at scale.
• Deep customer reach fits cross-border banking.

NCBA operating footprint

• Headquarters sit in Nairobi.
• Operations span Kenya, Uganda, Tanzania, and Rwanda.
• Digital services reach Ghana and the Ivory Coast.

NCBA by the numbers

• Customer base exceeds 60 million.
• Branch count totals 122.
• Assets stand at KES 665 billion.
• Digital loans pass KES 1 trillion annually.

Governance and integration

• Brand and leadership stay local.
• Independent governance remains.
• No operational merge is required.

Timing and approvals

• Transaction awaits regulatory sign-off.
• Completion is targeted for Q3 2026.