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Nedbank’s buyout of NCBA gets regional approvals
Customers perform transactions on Nedbank automated teller machine (ATM) at the Trade Route Mall in Lenasia outside Johannesburg, South Africa on February 8, 2023.
The proposed acquisition of a 66 percent shareholding in NCBA Group by South Africa’s Nedbank Group has secured unconditional approval from two key regional competition regulators, moving the cross-border banking deal a step closer to completion.
The Common Market for Eastern and Southern Africa Competition Commission (CCCC) and the East African Community Competition Authority (EACCA), have both approved the proposed transaction.
