{"id":22717,"date":"2026-01-21T17:05:56","date_gmt":"2026-01-21T15:05:56","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/sas-nedbank-to-buy-majority-stake-in-kenyas-ncba-for-856-million\/"},"modified":"2026-02-27T16:33:39","modified_gmt":"2026-02-27T14:33:39","slug":"sas-nedbank-to-buy-majority-stake-in-kenyas-ncba-for-856-million","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/sas-nedbank-to-buy-majority-stake-in-kenyas-ncba-for-856-million\/","title":{"rendered":"SA&#8217;s Nedbank to buy majority stake in Kenya&#8217;s NCBA for $856 million"},"content":{"rendered":"<p>South Africa&#8217;s (SA) Nedbank Group said this Wednesday it has offered to buy a 66% stake in Kenya&#8217;s NCBA Group in a cash-and-stock deal for R13.9 billion ($855.5 million) as part of the lender&#8217;s ambitions to expand in East Africa.<\/p>\n<p>&nbsp;<\/p>\n<p>The transaction, based on Nedbank&#8217;s stock price of R250 ($15.38) per share, would be settled 20% in cash and 80% through new Nedbank ordinary shares listed on the Johannesburg Stock Exchange, the bank said in a statement.<\/p>\n<p>&nbsp;<\/p>\n<p>The remaining 34% of NCBA shares would continue to trade publicly on the Nairobi Securities Exchange.<\/p>\n<p>&nbsp;<\/p>\n<p>If completed, NCBA, one of East Africa&#8217;s largest financial services groups, would become a subsidiary of Nedbank, though it would retain its brand, local leadership and separate listing.<\/p>\n<p>&nbsp;<\/p>\n<p>Nedbank Group Chief Executive Jason Quinn said the planned acquisition was a major step in Nedbank&#8217;s push to grow its southern and East African footprint.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;By combining NCBA\u2019s substantial local presence and Nedbank\u2019s capital base, expertise and enduring commitment to Africa, we see a compelling platform for sustainable growth in the region,&#8221; Quinn said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":22718,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-22717","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"SA Nedbank Group said this Wednesday it has offered to buy a 66% stake in Kenya's NCBA","published_date":"2026-01-21 18:57:05","news_description":"SA Nedbank Group said this Wednesday it has offered to buy a 66% stake in Kenya's NCBA","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22717\/revisions"}],"predecessor-version":[{"id":25922,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22717\/revisions\/25922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/22718"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22717"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}