The Board of NCBA Group PLC has expressed confidence in the proposed acquisition by Nedbank Group, describing the planned transaction as an opportunity to strengthen the lender’s long-term growth plans and regional expansion ambitions. Speaking at the NCBA Group PLC 66th Annual General Meeting (AGM), Group Chairman James Ndegwa said the Board views strategic partnerships as important drivers in the next phase of growth for the lender.
Nedbank Acquisition Proposal
James Ndegwa revealed that the NCBA Group received an investment proposal from Nedbank Group on January 21, 2026, seeking to acquire approximately 66 per cent of NCBA shares.
“On January 21, 2026, we received a strategic investment proposal from Nedbank Group Limited to acquire approximately 66 per cent of NCBA shares. Although this transaction remains subject to various regulatory approvals, we are excited by the potential that the investment by Nedbank Group portends for NCBA.” said Mr Ndegwa.
According to the Chairman, the proposed acquisition would combine NCBA’s regional network and local market expertise with Nedbank’s international banking capabilities and financial strength. The NCBA Board said the proposed Nedbank acquisition could create operational synergies and support the Group’s growth trajectory across its banking and non-banking businesses.
NCBA GROUP UBUNTU Strategy for 2026–2030
During the NCBA Group PLC 66th Annual General Meeting (AGM), the lender also introduced its new UBUNTU Strategy covering the 2026–2030 period. The Board noted that the UBUNTU Strategy was developed ahead of the proposed Nedbank transaction and remains the standalone blueprint for the Group’s future growth plans. Under the strategy, NCBA plans to strengthen its core businesses by deepening customer relationships, improving service delivery, and reinforcing the balance sheet.
The lender also intends to expand high-growth business segments including digital lending, payments, asset finance, investment banking, and insurance. NCBA said regional subsidiaries are expected to play a larger role in the Group’s future expansion plans as it increases its footprint across key African markets.
Nedbank Partnership to Support Regional Expansion
NCBA Group said the Nedbank partnership would support its ambitions to enter new sectors and markets through cross-border capabilities, partnerships, and platform-led business models. NCBA also plans to invest further in technology, artificial intelligence, data systems, and operational resilience as part of its future operating model.
“Together, the UBUNTU Strategy and the Nedbank partnership give us clarity, confidence, and the capacity to navigate a changing world as we continue to deliver substantial progress for our customers, shareholders, and the communities we serve,” Mr Ndegwa said.
NCBA Marks Five Years since NIC-CBA Merger
Five years after the 2019 merger between NIC Group PLC (NIC) and Commercial Bank of Africa Limited (CBA), NCBA says it has delivered growth across regional banking, digital transformation, and non-banking operations. The Group said it expanded regional operations, increased digital banking adoption, and strengthened profitability across several subsidiaries between 2020 and 2025.
NCBA also completed the integration of NCBA Insurance while recording continued growth in wealth management and investment banking operations. According to the lender, investments in technology, governance, and talent development improved operational efficiency and supported industry-wide digital adoption. The Group added that sustainability and financial inclusion remain part of its long-term plans, with financing directed toward green projects, SMEs, and the creative economy.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.