Nedbank to retain NCBA employees after takeover
In an offeror statement, Nedbank said existing contractual and statutory employment rights for NCBA’s management and staff will remain in force in line with applicable laws, assuring job security during the transition. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Nedbank, a South African lender, has announced it will retain all NCBA Group employees following its proposed acquisition of a 66 percent stake in the Kenyan lender. This assurance aims to maintain job security for NCBA's staff during the transition period.
- Nedbank submitted an offer last month to acquire approximately 1.1 billion NCBA ordinary shares at Sh5 each.
- NCBA operates in Kenya, Uganda, Tanzania, Rwanda, Ivory Coast, and Ghana, serving over 60 million customers.
- Under the proposed deal, NCBA would remain listed on the Nairobi Securities Exchange and retain its brand and management team, with the transaction expected to close within 6 to 9 months, pending regulatory approvals.
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Safaricom Launches Share Trading via M-Pesa; Nedbank to Acquire NCBA Stake - February 2026
Safaricom has launched Ziidi Trader, a new mobile-based share trading platform integrated into its M-Pesa app. This allows Kenyans to buy and sell shares on the Nairobi Securities Exchange (NSE) directly from their phones. Meanwhile, the GEMA Cultural Association has urged Members of Parliament to prioritize local investors in the planned sale of the government's 15 percent stake in Safaricom. In another major financial development, South African lender Nedbank announced it will acquire a 66 percent stake in NCBA Group. Nedbank has assured that it will retain all NCBA Group employees following the proposed acquisition.
