South Africa’s Nedbank Group has unveiled plans to acquire approximately 66% of the issued ordinary share capital of Kenya’s NCBA Group. The move is set to hand the Johannesburg-listed lender effective control of one of East Africa’s most prominent banking groups while keeping NCBA listed on the Nairobi Securities Exchange. The Reuters news agency reported that the cash-and-stock deal is valued at $855.5 million (KES 110.3 billion). The proposed transaction was disclosed on Wednesday after Nedbank served a formal Notice of Intention on NCBA Group, the Capital Markets Authority of Kenya, the Nairobi Securities Exchange, and the Competition Authority of…
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East African Breweries Plc (EABL) has announced the resignation of its Chief Financial Officer and Executive Director, Risper Ohaga, marking a significant leadership transition at the regional brewing giant at a time of major ownership change. In a public notice, the EABL board said Ms Ohaga will step down from her roles effective 30 June 2026 to pursue interests outside the group, bringing to a close a tenure that began in February 2020. The board credited Ms Ohaga with steering the company through a period of economic disruption and recovery, including the Covid-19 pandemic, while strengthening financial controls, governance and…
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East African Breweries Limited (EABL), one of East Africa’s most influential consumer goods companies, is entering a new era. This comes after its majority shareholder, Diageo, agreed to sell its entire 65% stake to Japan’s Asahi Group Holdings. The transaction was disclosed through a statutory public announcement and an accompanying EABL press release. It is among the region’s most significant cross-border investments in the beverages sector. This deal will see a major Japanese brewer take control of a leading African alcohol business. Who is buying and who is selling The seller is Diageo, the global beverages group behind brands such…
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Kenya Gov’t to Sell 15% Safaricom Stake to Vodacom in KShs 241 billion (UGX 6.5 Trillion Deal) The Kenyan government Kenya has officially begun the process of selling a 15 percent stake in Safaricom to South Africa’s Vodacom in a total transaction valued at KShs 241 billion (UGX 6.5 trillion), a move that signals one of the country’s most significant state asset disposals in recent memory. The announcement, published by Safaricom PLC on December 4, 2025, outlines the full structure of the deal and sets the stage for a major shift in the ownership of East Africa’s most valuable company….
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TPS Eastern Africa PLC, the operator of Serena Hotels, has issued a profit warning for the financial year ending 31 December 2025 after slipping into a half-year loss, marking a sharp reversal from the strong earnings momentum recorded in the previous year. The Group, which operates some of East Africa’s most prominent luxury and upscale lodges and city hotels, reported a loss after tax of KShs 16 million (UGX 448 million) for the first half of 2025, compared to a profit of KShs 696 million (UGX 19.49 billion) in the same period last year. The announcement, made in compliance with…
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The Dar es Salaam Stock Exchange (DSE) has posted another quarter of solid financial performance, signaling strong operational resilience and investor confidence amid a tightening regional economic environment. For the…
Shares of NCBA Group Plc have hit an all-time high of KSh 75.25, rising 8.27 percent from KSh 69.50, after confirmation that Africa’s largest lender, Standard Bank Group Ltd., is in advanced talks to acquire the Kenyan bank — a deal that could dramatically reshape the structure and ownership of Kenya’s banking sector. According to Bloomberg, the Johannesburg-based banking giant, which holds a 75 percent stake in Nairobi-listed Stanbic Holdings Plc, has already received internal approvals to engage NCBA in buyout negotiations. If completed, the merger would create Kenya’s third-largest lender by assets, with a combined balance sheet of approximately…
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Kenya is on the cusp of one of the most significant equity transactions in East Africa in nearly two decades. The Kenyan government plans to sell its 65% controlling stake…
Bloomberg has reported that British multinational Diageo has appointed Bank of America and Goldman Sachs to oversee a review of its 65% stake in East African Breweries Limited (EABL). The…
East African Breweries Limited (EABL), one of the crown jewels in Kenya’s corporate sector, is now at the centre of market speculation following a broader strategic pivot by its parent company, Diageo PLC, which has been steadily retreating from several African markets. According to a report by Business Daily Africa, the British beverages giant on Tuesday unveiled a sweeping $500 million (KSh64.65 billion) cost-cutting and asset disposal programme as part of what it calls an “asset-light model,” a strategy designed to reduce exposure to volatility in emerging markets and boost returns. The Nairobi Securities Exchange-listed EABL, in which Diageo holds…
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