Nedbank Group, South Africa’s fourth-largest bank, has secured a Kenyan regulatory waiver that clears the way for its plan to acquire about 66% of NCBA Group, one of East Africa’s biggest lenders. Kenya’s Capital Markets Authority (CMA) exempted Nedbank from a rule that would have forced the lender to make a mandatory offer for 100% of NCBA if it crossed key ownership thresholds. “Nedbank Group is now pleased to advise shareholders and noteholders that on 19 February 2026, the CMA granted the CMA Exemption,” the lender said in the waiver update. Without the waiver, Nedbank would have had to launch a full takeover bid, potentially increasing the cost and complexity of the transaction. The exemption allows the South African lender to pursue a partial acquisition of roughly two-thirds of N...