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Nedbank's $856 million takeover of NCBA Group has secured key East African regulatory approvals, bringing the Kenyatta and Ndegwa families' Sh21.9 billion windfall closer to completion.
Kenya's powerful Kenyatta and Ndegwa families stand to receive over $170 million in combined cash and stock from the Nedbank takeover of NCBA Group.
Nedbank's NCBA buyout offer opened May 29 at Sh105, offering shareholders a 20.3% gain above NSE prices. Muhoho Kenyatta stands to be the biggest individual winner.
Nedbank CEO Jason Quinn has opened a $855 million tender offer for a 66% controlling stake in Kenya's NCBA Group, one of the largest cross-border banking transactions in African history, with shareholders given until July 10 to respond.
NCBA Group posted KSh 23.4 billion ($180.3 million) in full-year profit and raised its dividend by 22.5% to KSh 7.1 per share for 2025.
South Africa's fourth-largest bank crossed the 8-million client mark for the first time in its 138-year history, posting R17.2 billion in earnings.
The deal, to be executed through Nkontchou’s private investment firm, Bosquet Investments, will mark the end of Nedbank’s 17-year partnership with Ecobank.
iKhokha’s trio of founders stand to pocket millions as Nedbank snaps up the decade-old fintech in a $94 million deal.
The South African bank confirmed that the stake, classified under IFRS 5 as a non-current asset held for sale, has a market value of R1.9 billion ($105.8 million).
The African Continental Free Trade Area (AfCFTA) could transform Africa’s economy, but a $100-billion annual infrastructure gap remains a hurdle.
Nedbank is reorganizing its investment banking unit to target Africa’s growing debt market.
Davis, a leading South African banker and executive ranks as one of the country’s most affluent executives.
What truly sets Nkuhlu apart is his keen acumen for business in emerging economies, corporate governance, and stakeholder management.
Nkuhlu owns a beneficial 0.043-percent stake in Nedbank, valued at $3.29 million.