NCBA shareholders are set to receive Sh116 billion in cash and Nedbank shares after South Africa's Nedbank secured a 66% stake in the Kenyan lender.
— Sh23 billion in cash
— Sh93 billion in Nedbank shares
(The deal was priced at a premium to NCBA's market value)
PesaLink, a platform for sending money between bank accounts, plans to let customers send money using phone numbers or ID numbers instead of bank account numbers.
The family of late billionaire Nelson Muguku is in talks to sell The Waterfront Karen Mall for up to Sh9 billion.
The 200,000-square-foot mall sits on 13 acres and has Naivas as its anchor tenant.