South African lender Nedbank Group has submitted a tender offer to acquire approximately 66 percent of NCBA Group's ordinary shares, aiming for a controlling stake in the Kenyan financial services provider. This proposed acquisition values NCBA at 1.4 times its book value.

• Shareholders accepting the offer would receive 20 percent cash and 80 percent in Nedbank ordinary shares listed on the JSE.
• NCBA operates across Kenya, Uganda, Tanzania, Rwanda, Ivory Coast, and Ghana, serving over 60 million customers.
• NCBA Managing Director John Gachora stated that Nedbank is an ideal partner for growth in East Africa, facilitating expansion into new markets like Ethiopia and DRC.