NCBA Sees Nedbank Tie Extending Reach for Wealthy East Africans

Kenya’s fourth-biggest bank by assets plans to piggyback on its new anchor shareholder Nedbank Group Ltd. to woo high-net-worth East Africans looking to grow their wealth outside the continent.

NCBA Group Plc will use the South African bank’s global network of offices, which offer clients investment banking, corporate banking, treasury, trust and advisory services. That should help NCBA attract more wealthy clients locally, and drive assets it has under management past 100 billion shillings ($776 million), according to Chief Executive Officer John Gachora.