South African financial giant Nedbank Group has made a massive ZAR 13.9 billion (Sh109.5 billion) offer to acquire a 66 per cent stake in Kenya's NCBA Group, marking a significant entry into the East African market. This tender offer values the Kenyatta family-linked lender at Sh165.9 billion.

• The deal includes a 20 per cent cash component of Sh21.9 billion, with the remaining 80 per cent settled through new Nedbank ordinary shares listed on the Johannesburg Stock Exchange (JSE).
• NCBA, formed from the merger of NIC Group and Commercial Bank of Africa (CBA), will operate as a Nedbank subsidiary, retaining its brand and a 34 per cent free float on the Nairobi Securities Exchange (NSE).
• Nedbank Group CEO Jason Quinn highlighted East Africa as a region of "significant strategic importance", citing strong macroeconomic fundamentals, and expects the transaction to conclude by the third quarter of 2026, pending regulatory approvals.