Quick heads-up: If TC Daily still lands in your spam folder, move it to your Primary inbox so you don’t miss future editions.
Become smarter about tech and commerce in Francophone Africa, and the policies shaping them. Read previous editions here first and subscribe below.
Remember the proposed acquisition of Kenyan digital-first bank NCBA by South African tier-1 lender Nedbank that has hogged headlines since the start of the year?
We’ve got a big development in that saga. On Monday, the Central Bank of Kenya (CBK) said it had approved Nedbank’s acquisition of up to 66% of NCBA on August 28, clearing a major regulatory hurdle for the South African lender. The approval follows months of regulatory reviews and a shareholder offer that saw NCBA investors accept Nedbank’s proposal in exchange for cash and Nedbank shares.
Originally published by TechCabal.