NCBA Group Shares Resume Trading at the NSE with Volatility Expected

NCBA Group Plc Shares resumed trading at the Nairobi Securities Exchange(NSE) Tuesday 3^rd November 2026 after being suspended on Wednesday 21^st October, as some investors who held NCBA shares began receiving payments for part of the shares they sold to Nedbank Group.

Cash payments and issuance of Nedbank shares to accepting shareholders commence alongside the transaction. Final results are expected on November 5^th 2026.

NCBA shares trading temporarily halted to facilitate execution of the takeover

According to a statement from NSE, following end of the suspension, trading in NCBA shares was briefly halted to facilitate the execution of a block trade through the NSE Block trade board, pursuant to the acquisition by Nedbank Group Limited of approximately 66% of the issued ordinary shares of NCBA Group Plc.

The temporary halt was intended to facilitate the orderly execution and settlement of the transaction. Trading in NCBA Group shares resumed upon completion of the block trade process.

The block trade involved approximately 1.087 billion NCBA shares (66% controlling stake) to Nedbank Group of South Africa.

NCBA had been suspended from the NSE since October 21^st to facilitate shareholder register reconciliation following takeover offer acceptance of 79.90% of issued shares.

Interesting, the NCBA counter remained quiet when trading finally resumed at the NSE, although market watchers expect some volatility now that the free float shares have significantly reduced following the takeover by Nedbank of majority stake in NCBA.

Speculation is rife that after the NCBA-Nedbank deal is done, First Rand Bank also from South Africa is actively pursuing an acquisition deal in Kenya, with I&M Bank on the radar screens.

Data from the NSE shows that Nedbank’s acquisition of 66% of the Kenyan lender resulted in KSh 107.2 billion pumped into the Nairobi bourse as foreign investors led the buying charge on the counter, the highest single-day buying figure on NSE records.

The NCBA foreign buy surpassed the KSh 42.52 billion recorded on October 19^th during the acquisition of a stake in Kenya Pipeline Company(KPC) by a firm associated with Nigerian Billionaire Aliko Dangote.

These two foreign-buys, just a fortnight apart, account for the two largest daily sessions on record, involving foreign activity at the Nairobi bourse.