Nedbank Group has officially closed its takeover bid for NCBA Group, securing shareholder acceptance from 79.9% of voting shares.
The high level of support signals strong market confidence in the strategic combination, allowing the South African lender to proceed with the acquisition despite the offer being technically oversubscribed by excess acceptance offers.
Settlement of the transaction is scheduled for early Q4 2026.
Until the final closing, NCBA Group will continue to trade on the Nairobi Securities Exchange (NSE), providing liquidity for remaining minority shareholders.
The deal represents a significant consolidation move in the East African banking sector, expanding Nedbank’s footprint in the region.
The acceptance rate exceeds the typical threshold required for a mandatory takeover, streamlining the path to full integration.