Standard Bank Group has acquired a 5.57% beneficial interest in Nedbank Group Limited through market purchases, triggering a mandatory disclosure under South Africa’s Companies Act and JSE Listings Requirements.
Nedbank confirmed the transaction in a formal notice dated 29 January 2026, stating:
“The Standard Bank Group has acquired an interest in the ordinary shares of Nedbank Group, amounting to 5.57% of the total issued ordinary shares.”
The disclosure has been filed with the Takeover Regulation Panel, as required.
This development comes amid shifting dynamics in East Africa’s banking sector. Standard Bank was previously rumored to be pursuing a stake in NCBA Group, but Nedbank has since made a bold move.
Earlier this month, Nedbank announced its intention to acquire up to 66% of NCBA, signaling a strategic expansion into the region.
The dual moves—Standard Bank’s stake in Nedbank and Nedbank’s bid for NCBA—underscore intensifying competition among South Africa’s banking giants for regional influence and growth.
