South African lender Nedbank Group Limited has received regulatory approval from the Central Bank of Kenya (CBK) to acquire a controlling stake of up to 66 percent in NCBA Group Plc.

• Nedbank aims to acquire up to 66% of NCBA Group Plc's issued share capital.
• The Central Bank of Kenya (CBK) granted its approval on August 28.
• NCBA Group was formed in 2019 through the merger of NIC Group and Commercial Bank of Africa (CBA).

Absa Bank Kenya, Kenya Airways, and Visa have launched a new co-branded credit card, the Asante Global Card, targeting affluent Kenyans with travel and lifestyle rewards.

• The card allows customers to earn Asante Rewards Points on everyday spending, not just air travel.
• Key partners include Absa Bank Kenya, Kenya Airways, and Visa.
• Benefits include a welcome bonus of up to 10,000 points, airport lounge access, travel insurance, and extra baggage allowance.

The High Court in Nairobi has denied Kiru Tea Factory Company Ltd permission to join a legal dispute where Citibank N.A. Kenya is challenging a criminal investigation into a Sh261 million loan.

• The court ruled that Kiru Tea Factory failed to demonstrate how its interests would be prejudiced if excluded from the case.
• Key organizations involved are Kiru Tea Factory, Citibank N.A. Kenya, and the Directorate of Criminal Investigation (DCI).
• The investigation stems from a complaint by Kiru Tea Factory concerning the alleged unauthorized approval and disbursement of a $2.02 million loan facility provided in March 2021.