East Africa: Nedbank Bets $842m On NCBA in East Africa Push

[Daba Finance] Nedbank plans to use its purchase of a 66% stake in Kenya's NCBA Group to expand corporate banking, infrastructure finance and wealth management across East Africa. The South African lender is paying 13.9 billion rand, or about $842 million, for the holding and has received most regulatory approvals. The remaining clearances are expected by late in the third quarter or early in the fourth.

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