Nedbank’s East Africa Push Comes at a Premium With NCBA Purchase

Nedbank Group Ltd. is executing a plan to boost its footprint across the continent and challenge bigger rivals, with the South African lender offering a premium to buy a majority...

By Adelaide Changole, Eric Ombok · Bloomberg Markets

Nedbank Group Ltd. is executing a plan to boost its footprint across the continent and challenge bigger rivals, with the South African lender offering a premium to buy a majority stake in Kenya’s NCBA Group Plc.