Nedbank Corporate and Investment Banking (CIB) advised Nedbank Group on the proposed acquisition of a 66% stake in NCBA Group, one of East Africa's largest and most respected financial services organisations. The proposed acquisition marks a significant step in Nedbank's long‑term strategy to expand its presence in African markets through investment banking excellence, strong corporate finance capabilities and deep financial advisory expertise.

Jason Quinn, Nedbank's Chief Executive, says the acquisition leverages the strengths of both institutions. 'NCBA offers a strong brand presence, an extensive regional network, advanced digital capabilities and deep customer reach, which naturally aligns with Nedbank's established Corporate and Investment Banking expertise, cross-border structuring capabilities and strong balance sheet.'

East Africa is a strategic growth market for banking

East Africa remains one of the continent's most resilient and fast‑growing regions, supported by strong macroeconomic fundamentals, expanding trade corridors, a rising population and a favourable regulatory environment. For African banking, the region offers compelling long‑term opportunities for economic development and investment growth. Nedbank has identified East Africa as a priority market that aligns with its strategic ambition to provide integrated corporate banking and investment banking solutions across key African markets.

What the NCBA acquisition means for Nedbank CIB

The transaction supports Nedbank CIB's mandate to deliver world‑class financial advisory services, sophisticated corporate finance capabilities and capital markets expertise tailored for Africa.

Geoffrey Gangla, Regional Head for East Africa at Nedbank CIB, says the acquisition strengthens Nedbank's service to clients in the region. 'The proposed transaction will provide a one-stop shop for the financial services needs of our existing and potential clients across East Africa. NCBA is a highly respected financial institution in the region and a suitable partner for Nedbank.'

Philip Reynolds, Head of Corporate Finance and ECM at Nedbank CIB, adds that the proposed acquisition will accelerate Nedbank's growth path. 'The acquisition of a significant controlling interest in NCBA, a Tier 1 financial institution in East Africa, will significantly accelerate Nedbank's growth in the region to the benefit of both Nedbank and NCBA, their respective clients and future regional development.'

NCBA's platform accelerates regional banking growth

NCBA brings a powerful regional platform, digital banking leadership, strong client penetration, and a wide distribution network across East Africa. Combined with Nedbank's corporate and investment banking capabilities, the transaction creates a strong foundation for scalable growth, regional integration and expanded access to financial services across African markets.

Mark Beyers, Principal of Corporate Finance at Nedbank CIB, says the deal aligns with Nedbank's strategic intent. 'The proposed transaction underscores Nedbank Corporate Finance's ability to identify, unlock and execute complex, multijurisdictional transactions that are strategically aligned and operationally transformational. It will materially assist Nedbank with its intent to increase its exposure to the growing East African market.'

Complex cross-border acquisition

Executing a financial acquisition of this scale across multiple jurisdictions requires deep sector knowledge, business valuation expertise and a strong understanding of regulatory frameworks. Nedbank CIB's track record in African banking and mergers and acquisitions advisory ensured the transaction was structured with precision and delivered at pace.

Teurai Nyazema, Principal of Corporate Finance Africa at Nedbank CIB, emphasises this strength. 'Nedbank CIB's experience working on mergers and acquisitions across the continent, and its deep understanding of the sector, enabled us to execute this highly important transaction with speed and quality.'

Gregory Revelas, Principal of Corporate Finance at Nedbank CIB, adds that the deal showcases Nedbank CIB's ability to manage diverse stakeholder needs. 'This transaction highlights our ability to navigate sophisticated regulatory environments, align diverse stakeholder interests and deliver strategic outcomes within accelerated time frames.'

Deal strengthens corporate banking

By combining NCBA's regional presence with Nedbank's corporate banking experience, the transaction creates a stronger platform to serve multinationals, regional corporates and institutional clients. The expanded footprint also enhances Nedbank's capacity to deliver integrated corporate finance, capital markets and investment banking solutions across the region.

The acquisition enhances the capital markets capabilities available to East African clients through enhances balance sheet strength, expanded advisory services and greater access to cross-border financing. It also supports future product innovation across lending, transactional banking, liquidity solutions and strategic corporate finance advisory.

For Nedbank Group, the transaction represents a strategic opportunity to participate in NCBA's growth trajectory while supporting economic development in the region. Increased access to capital and expertise strengthens NCBA's ability to scale its operations, deepen market penetration and deliver sustainable returns for shareholders.

Pan-African banking platform

The combination of Nedbank and NCBA lays the foundation for a broader Pan-African banking platform that connects clients to opportunities across East Africa and beyond. NCBA will remain independently governed with its own leadership team, brand identity and listing on the Nairobi Securities Exchange. As Nedbank currently operates only a representative office in the region, no operational integration is required, preserving NCBA's market strength and agility.

The proposed transaction enables both organisations to leverage shared strengths to meet the evolving financial needs of businesses, accelerate regional connectivity and build a future-focused platform for growth across African markets.