Nedbank’s Terence Sibiya on the Ecobank exit and NCBA acquisition

It sold its 21.1% stake in Ecobank in December 2025, nearly 14 years after its initial investment, and acquired a 66.6% stake in Kenya’s NCBA. Its focus is now on trade corridors across southern and East Africa.

This week on The Executive Exchange, Africa Regions CEO Terence Sibiya explains why the bank opted for control over reach.

He outlines plans to lead the integration of NCBA through the investment bank, and explains why Mozambique’s LNG development and Namibia’s mining and oil boom make these two markets Nedbank’s key growth engines.

Asked to rate his excitement about the African opportunity out of 10, Sibiya responds: “11”.

He also argues that Africa needs to move from inclusion to influence in global markets, and that the 400-million-strong Southern African Development Community (SADC) should prioritise trade within its own borders rather than rely on external markets that can change its fortunes “at the stroke of a pen”.

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