Nedbank Finalises 66% Takeover of Kenya’s NCBA Group

South Africa’s Nedbank Group has completed its acquisition of a 66 per cent controlling stake in Kenya-based NCBA Group after finalising its share purchase offer and reconciling shareholder acceptances. Nedbank received offers for more than 1.3 billion NCBA shares, equal to 79.88 per cent of the company’s issued share capital. The final results, announced on November 5, 2026, said scaling and allocation arrangements brought Nedbank’s ownership to 66 per cent. The acceptances included about 920.4 million shares submitted under the pro-rata entitlement and 395.6 million shares from additional applications. Because shareholders offered more shares than Nedbank intended to acquire, the agreed arrangements determined how many shares it would accept.

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