Nedbank Acquires Kenyatta Family Bank: How South African Lender Was Founded, Its Shareholders

Nedbank completes NCBA acquisition, securing a 66% stake in Kenya’s lender as Nairobi Securities Exchange trading halts ahead of its November 2026 settlement.

South Africa's Nedbank Group Limited has finalised its acquisition of a controlling interest in Kenya's NCBA Group PLC, a lender widely associated with the Kenyatta family, marking one of the most significant cross-border banking deals in East Africa in recent years.

In a public announcement, Nedbank confirmed its offer had become unconditional after securing approximately 66% of NCBA's total issued shares, equivalent to 1,087,362,891 shares.

Trading in NCBA shares on the Nairobi Securities Exchange was suspended from October 21 and will remain halted until November 2, 2026, with the block trade and settlement scheduled for November 3, 2026.

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Nedbank Group CEO Jason Quinn, who has led the bank since 2024, is spearheading the continental growth strategy that includes this Kenyan acquisition.

Source: Tuko