Kenya: Nedbank Secures Waiver to Pursue 66 Percent Stake in Kenya’s NCBA

Nedbank Group has received a regulatory waiver in Kenya that allows it to proceed with its plan to acquire about 66% of NCBA Group without launching a full takeover.

Kenya’s Capital Markets Authority granted the exemption on Feb. 19, 2026. The waiver relieves Nedbank from rules that would have required it to make a mandatory offer for 100% of NCBA once certain ownership thresholds were crossed.

The South African lender first announced the proposed transaction on Jan. 21. Under the current…