Nedbank completes acquisition of controlling stake in NCBA Group
Originally published by Citizen Digital — Read the original article →
South Africa’s Nedbank Group Limited has completed its
strategic investment in NCBA Group PLC, acquiring a 66 per cent controlling
stake in the East African lender.
The transaction, which follows the receipt of required regulatory
approvals, signals Nedbank’s confidence in the region’s financial services
sector and is expected to unlock new opportunities for NCBA’s customers,
employees and shareholders.
NCBA will retain its brand and local leadership despite the
change in ownership, and completion of the transaction will make NCBA Group an
East African subsidiary of South Africa’s Nedbank Group Limited.
