The Central Bank of Kenya approved Nedbank Group's acquisition of a 66% stake in NCBA Group PLC on August 28, 2026, the final regulatory clearance among seven authorities across four countries.
Of the roughly R13.9 billion ($842 million) total consideration, 20% is cash and 80% is settled in Nedbank shares priced at R250 apiece on the JSE, valuing NCBA at 1.4 times book value.
The offer was oversubscribed at 79.9% of issued capital against a 66% target, triggering a pro-rata scale-back, with NCBA retaining its NSE listing and completion expected in late Q3 or early Q4 2026.
Of the roughly R13.9 billion ($842 million) total consideration, 20% is cash and 80% is settled in Nedbank shares priced at R250 apiece on the JSE, valuing NCBA at 1.4 times book value.
The offer was oversubscribed at 79.9% of issued capital against a 66% target, triggering a pro-rata scale-back, with NCBA retaining its NSE listing and completion expected in late Q3 or early Q4 2026.
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Kenya Re shares traded above KSh 5.00 to a new all-time high of KSh 5.08, extending a sharp recovery from below KSh 1.00 in late 2023.
🟢 1 Week ➠ +18.4%
🟢 4 Weeks ➠ +21.2%
🟢 3 Months ➠ +33.4%
🟢 6 Months ➠ +22.8%
🟢 YTD ➠ +53.8%
🟢 1 Year ➠ +55.9%
> Chart since listing, adjusted for all share bonuses, as of yesterday’s close.
🟢 1 Week ➠ +18.4%
🟢 4 Weeks ➠ +21.2%
🟢 3 Months ➠ +33.4%
🟢 6 Months ➠ +22.8%
🟢 YTD ➠ +53.8%
🟢 1 Year ➠ +55.9%
> Chart since listing, adjusted for all share bonuses, as of yesterday’s close.
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Nairobi Securities Exchange Plc shares have traded to a new all-time high of KSh 29.75
Extending a sharp recovery from the prolonged decline that took the stock to around KSh 6 in 2023-24.
🟢 1 Week ➠ +5.46%
🟢 4 Weeks ➠ +11.8%
🟢 3 Months ➠ +44.0%
🟢 6 Months ➠ +30.2%
🟢 YTD ➠ +39.3%
🟢 1 Year ➠ +97.2%
> Chart since listing, as of yesterday’s close.
Extending a sharp recovery from the prolonged decline that took the stock to around KSh 6 in 2023-24.
🟢 1 Week ➠ +5.46%
🟢 4 Weeks ➠ +11.8%
🟢 3 Months ➠ +44.0%
🟢 6 Months ➠ +30.2%
🟢 YTD ➠ +39.3%
🟢 1 Year ➠ +97.2%
> Chart since listing, as of yesterday’s close.
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The Dutch central bank (DNB) transferred about 86 metric tons of gold from New York and Ottawa to London between March and August 2026, describing the move as "crisis preparedness."
New York's share of Dutch gold fell from 31.3% to 18.5%, as did Ottawa's, from 19.7% to 18.5%.
DNB Governor Olaf Sleijpen said the relocation improves tradability of the bank's reserves, which totaled 612.4 metric tons worth 72.2 billion euros (about $83.6 billion) at the end of 2025, with about 27 tonnes physically moved and the remainder achieved through sales and purchases.
New York's share of Dutch gold fell from 31.3% to 18.5%, as did Ottawa's, from 19.7% to 18.5%.
DNB Governor Olaf Sleijpen said the relocation improves tradability of the bank's reserves, which totaled 612.4 metric tons worth 72.2 billion euros (about $83.6 billion) at the end of 2025, with about 27 tonnes physically moved and the remainder achieved through sales and purchases.
DigiTax, a Kenyan tax-tech company, has entered the UAE market after being pre-approved by the Ministry of Finance to provide electronic invoicing services, operating through Namiri Technology Services LLC with a new Dubai office.
The UAE will require businesses with annual revenue of 50 million Dirhams ($13.6 million) or more to comply with new e-invoicing requirements from January 1, 2027, with other businesses following from July 1, 2027.
DigiTax, founded in 2022, has processed more than $20 billion in invoices and plans to expand into 10 additional international markets in 2026.
The UAE will require businesses with annual revenue of 50 million Dirhams ($13.6 million) or more to comply with new e-invoicing requirements from January 1, 2027, with other businesses following from July 1, 2027.
DigiTax, founded in 2022, has processed more than $20 billion in invoices and plans to expand into 10 additional international markets in 2026.
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The National Bank of Ethiopia and the International Finance Corporation have signed a Framework for Cooperation to establish Ethiopia's first dedicated Mortgage Refinance Company, Prime Minister Abiy Ahmed announced.
The wholesale financial institution will be capitalized at 100 billion birr, with the IFC expected to contribute a minimum of $200 million.
The initiative aims to address liquidity mismatches in Ethiopia's banking sector and supports the government's broader goal of delivering 1.5 million affordable homes for Ethiopian families.
The wholesale financial institution will be capitalized at 100 billion birr, with the IFC expected to contribute a minimum of $200 million.
The initiative aims to address liquidity mismatches in Ethiopia's banking sector and supports the government's broader goal of delivering 1.5 million affordable homes for Ethiopian families.
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Mansa-X operator Standard Investment Bank (SIB) overtook Sanlam to become Kenya’s largest fund manager in Q2 2026, with AUM rising 23% to KSh 188.6Bn from KSh 153.2Bn in March.
Sanlam grew 6% to KSh 171.4Bn, while CIC ranked third at KSh 105.2Bn.
Total collective investment scheme assets climbed 11% to KSh 948.7Bn, leaving the industry just KSh 51.3Bn short of KSh 1Tn.
SIB’s growth was driven largely by its Mansa-X special funds.
Sanlam grew 6% to KSh 171.4Bn, while CIC ranked third at KSh 105.2Bn.
Total collective investment scheme assets climbed 11% to KSh 948.7Bn, leaving the industry just KSh 51.3Bn short of KSh 1Tn.
SIB’s growth was driven largely by its Mansa-X special funds.
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The NSE All Share Index (NASI) is up 36.83% YTD in 2026, putting it on course for a third consecutive year of gains above 30%, after rising 34.06% in 2024 and 51.10% in 2025.
NASI has gained in seven of the first eight months of 2026, including four consecutive monthly advances since June, with September up 1.58% so far.
NASI has gained in seven of the first eight months of 2026, including four consecutive monthly advances since June, with September up 1.58% so far.
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In July, Treasury CS John Mbadi said the Income Tax Amendment Bill would reach Parliament this month reviving the PAYE relief that was left out of the Finance Bill 2026.
That month has now arrived. Two proposals remain on the table: a narrower cut targeting lower earners, or a broader reduction across all PAYE bands, as the Kenya Bankers Association has proposed.
That month has now arrived. Two proposals remain on the table: a narrower cut targeting lower earners, or a broader reduction across all PAYE bands, as the Kenya Bankers Association has proposed.
Kenya has established a Ksh5 billion leather testing laboratory at the Kenanie Leather Industrial Park, funded by the Italian government, according to Industrialization Principal Secretary Dr Juma Mukhwana.
The facility will accredit leather products to international standards, enabling manufacturers to access markets in the EU, US, China, India, and the East African Community.
Mukhwana said production at Kenanie would serve eight regional markets, including Uganda, Tanzania, South Sudan, Somalia, Burundi, and the DRC, while criticizing years of stagnation since the park's establishment in 2016.
The facility will accredit leather products to international standards, enabling manufacturers to access markets in the EU, US, China, India, and the East African Community.
Mukhwana said production at Kenanie would serve eight regional markets, including Uganda, Tanzania, South Sudan, Somalia, Burundi, and the DRC, while criticizing years of stagnation since the park's establishment in 2016.
Investment platform Hisa has introduced "US IPO Integration," allowing eligible Kenyan retail investors to participate in selected US initial public offerings directly through the app.
The US IPO market is on track for a record year, with traditional IPOs raising about $137 billion by August 25, 2026, according to Dealogic data.
Companies reportedly preparing for potential listings include Oura, valued at more than $11 billion, Anthropic, which could seek to raise up to $100 billion, and SoftBank-backed SB Energy, targeting $5 billion to $7 billion.
The US IPO market is on track for a record year, with traditional IPOs raising about $137 billion by August 25, 2026, according to Dealogic data.
Companies reportedly preparing for potential listings include Oura, valued at more than $11 billion, Anthropic, which could seek to raise up to $100 billion, and SoftBank-backed SB Energy, targeting $5 billion to $7 billion.
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Low ETF trading volume on the NSE doesn't mean an ETF will be illiquid and here's why.
An ETF's liquidity isn't just the volume you see for the ETF itself. It's tied to its underlying shares. For a banking ETF, that means the liquidity of banks like Equity Group, KCB and Co-operative Bank which trade actively on their own.
One thing to watch as an investor: the bid-ask spread, the gap between the buying and selling price. A tighter spread generally means more efficient trading; a wider one means a higher implicit cost to buy or sell.
Learn more → kenyanwallstreet.com/category/etfs
An ETF's liquidity isn't just the volume you see for the ETF itself. It's tied to its underlying shares. For a banking ETF, that means the liquidity of banks like Equity Group, KCB and Co-operative Bank which trade actively on their own.
One thing to watch as an investor: the bid-ask spread, the gap between the buying and selling price. A tighter spread generally means more efficient trading; a wider one means a higher implicit cost to buy or sell.
Learn more → kenyanwallstreet.com/category/etfs
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Maurice Opiyo, Managing Director of KCB Investment Bank, discussed the growing role of cross-border capital flows and investment banking in East Africa's economic integration during the Lions Share podcast's "Architect of Deals" series.
KCB Investment Bank has been involved in major regional deals, including Bamburi Cement PLC's acquisition by Amsons Group worth KShs23.6 billion, Nation Media Group's stake acquisition by Taarifa Ltd, and Safaricom PLC's stake sale to Vodafone Group worth KShs204 billion.
Opiyo emphasized the need for deeper capital markets, securitisation, and regional infrastructure financing to complement traditional bank lending.
https://kenyanwallstreet.com/investment-bank-kcb-podcast-2
KCB Investment Bank has been involved in major regional deals, including Bamburi Cement PLC's acquisition by Amsons Group worth KShs23.6 billion, Nation Media Group's stake acquisition by Taarifa Ltd, and Safaricom PLC's stake sale to Vodafone Group worth KShs204 billion.
Opiyo emphasized the need for deeper capital markets, securitisation, and regional infrastructure financing to complement traditional bank lending.
https://kenyanwallstreet.com/investment-bank-kcb-podcast-2
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NSE Grants Approval to WSA Banking ETF
Press Release: https://wallstreet.africa/announcements-nse-approves-wsa-banking-etf
Press Release: https://wallstreet.africa/announcements-nse-approves-wsa-banking-etf
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The International Fund for Agricultural Development and Equity Group have launched the Africa Rural Climate Adaptation Finance Mechanism in Kigali, a 12-year, KSh 25.9 billion programme operating across Kenya, Uganda, Tanzania, and Rwanda.
The fund comprises KSh 23.3 billion in lending capital and KSh 2.6 billion in technical assistance, with Equity Group contributing half the lending capital from its own balance sheet.
Targeting 260,000 smallholder farmers and 500 rural businesses, with women accounting for at least 50 percent of beneficiaries and youth 30 percent, the fund will finance irrigation, climate-resilient livestock, post-harvest storage, renewable energy, and agro-processing.
Backers include the Green Climate Fund, Finland, the Nordic Development Fund, Denmark, and the EU.
The fund comprises KSh 23.3 billion in lending capital and KSh 2.6 billion in technical assistance, with Equity Group contributing half the lending capital from its own balance sheet.
Targeting 260,000 smallholder farmers and 500 rural businesses, with women accounting for at least 50 percent of beneficiaries and youth 30 percent, the fund will finance irrigation, climate-resilient livestock, post-harvest storage, renewable energy, and agro-processing.
Backers include the Green Climate Fund, Finland, the Nordic Development Fund, Denmark, and the EU.
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ETF or mutual fund: what's actually different?
Both pool money from many investors into a diversified portfolio, and both charge a fee to cover management costs. Beyond that, they work quite differently.
An ETF trades throughout the day on the exchange, like a stock, and is typically passively managed. A mutual fund is priced once per day after market close, and is typically actively managed which usually comes with higher costs.
Same idea, pooling investor money for diversification two different structures.
Got questions about ETFs? Ask below — learn more → kenyanwallstreet.com/category/etfs
Both pool money from many investors into a diversified portfolio, and both charge a fee to cover management costs. Beyond that, they work quite differently.
An ETF trades throughout the day on the exchange, like a stock, and is typically passively managed. A mutual fund is priced once per day after market close, and is typically actively managed which usually comes with higher costs.
Same idea, pooling investor money for diversification two different structures.
Got questions about ETFs? Ask below — learn more → kenyanwallstreet.com/category/etfs
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Centum Investment Company PLC has appointed Thomas Omondi-Achola as acting Chief Executive Officer following James Mworia’s departure to chair the National Infrastructure Fund (NIF) board.
Omondi-Achola, Centum’s Group Chief Operating Officer and Partner for Portfolio Operations since 2018, has more than 25 years of executive experience.
Omondi-Achola, Centum’s Group Chief Operating Officer and Partner for Portfolio Operations since 2018, has more than 25 years of executive experience.
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🇦🇴| Angola is seeking to open its US$ 18.6Bn domestic government bond market to more foreign investors as it looks to broaden its funding base and deepen local capital markets, Reuters reports.
The government is in talks with JPMorgan over potential inclusion in a planned frontier-market local-currency debt index and will meet investors in Luanda this month.
Foreigners can already buy Angolan government debt but face central bank approval and local banking requirements.
Angola is also considering future bond issuance in currencies including the Chinese yuan.
The government is in talks with JPMorgan over potential inclusion in a planned frontier-market local-currency debt index and will meet investors in Luanda this month.
Foreigners can already buy Angolan government debt but face central bank approval and local banking requirements.
Angola is also considering future bond issuance in currencies including the Chinese yuan.
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