Nedbank completes takeover of 66% of NCBA as trading in its shares is paused
NCBA shares will not trade on the Nairobi Securities Exchange until 2 November while the share register is updated.
Based on reporting by The Kenya Times, Citizen Digital and TechTrends Kenya.
Bank House on the corner of Moi Avenue and Kenyatta Avenue, Nairobi. File photo, 2025. Photo: Bahnfrend / Wikimedia Commons, CC BY-SA 4.0, cropped
South Africa's Nedbank Group has completed its purchase of a 66% controlling stake in NCBA Group after receiving the required regulatory approvals. NCBA becomes Nedbank's East African subsidiary.
Trading in NCBA shares on the Nairobi Securities Exchange is suspended from the close of business on Wednesday, 21 October, until the close of business on Monday, 2 November, so that the share register can be reconciled after the deal.
Shareholders offered about 1.32 billion shares, or 79.9% of NCBA's issued shares, by the time the offer closed on 10 July. That was more than Nedbank set out to buy, so the extra shares were scaled back to leave Nedbank with about 66%. The remaining 34% stays with other shareholders, and NCBA will stay listed.
The shares are due to pass to Nedbank through a block trade on the NSE on 3 November, when payments to shareholders who accepted the offer, in Nedbank shares and cash, are also set to begin.
Nedbank says NCBA will keep its brand, local leadership and Nairobi headquarters.
