Kenyatta Family Among 3 Families Set to Gain Billions From Nedbank-NCBA Deal

A major banking deal has put the spotlight on some of Kenya’s wealthiest families, with the Kenyattas among those attracting attention over Nedbank’s proposed takeover of NCBA Group.

The transaction has raised questions about who stands to benefit from the deal and how it could reshape the ownership of one of Kenya’s leading financial institutions.

NCBA Group is a major player in Kenya’s banking sector, serving individuals, businesses and corporate clients. Its future ownership is therefore attracting interest from investors and the wider public.

South Africa’s Nedbank has pursued a deal involving NCBA, bringing renewed attention to the bank’s shareholders and the value of their investments. However, the benefits for individual families depend on their actual shareholdings, the final transaction terms and whether the takeover is completed.

Reports indicate that the Kenyatta, Ndegwa and Merali families are set to receive a combined package worth approximately $319 million, or about KSh 41 billion, in cash and Nedbank shares. The figures are based on their shareholdings and the terms of the transaction.

The takeover was completed on October 19, 2026, giving Nedbank a 66 per cent controlling stake in NCBA. The Kenyan bank will retain its brand and Nairobi headquarters, while the remaining 34 per cent of its shares will continue to be held by public investors.

Ultimately, the deal highlights how major banking transactions can reshape corporate ownership and create significant returns for shareholders.

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