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About NCBA Group

NCBA Group provides financial services in East Africa from the merge of NIC Group and Commercial Bank of Africa.

NCBA Group Headquarters Location

Nairobi,

Kenya

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Latest NCBA Group News

NCBA Invests $16.6 Million in Tanzanian Subsidiary

Sep 2, 2022

NCBA Invests $16.6 Million in Tanzanian Subsidiary NCBA Group has announced plans to invest $16.6 million in its Tanzanian subsidiary this year, a move that will see the firm increase its capital that was famished by losses and a rise in defaults due to the economic fallout from the global COVID-19 pandemic. You Might Be Interested In The new capital being deployed in Tanzania will raise the firm’s cumulative investment in that market to  $58 million  from the $42 million recorded at the end of last year. The capital injection into NCBA Bank Tanzania Limited is part of efforts to improve the performance of the regional subsidiaries that have recorded lower profitability compared to the Kenyan market. “We have made $8.3 million investment in Tanzania so far to support capital and we intend to continue with more investment and make another close to $8.3 million by the end of the year,” The East African quotes NCBA chief executive John Gachora. The Tanzanian subsidiary made a net loss of $9.2 million in the year ended December 2021, larger than the Kes 770 million($6.4 million) net loss recorded in the year 2020. Mr Gachora added “We had closed four branches this year. We don’t plan to open the branches but what we are doing is reconfiguring the business to go after corporates and we need to lend them more money and therefore need more capital to do so. The investment is really to support business growth in Tanzania.” The bank was also slightly above other capital requirements constraining its ability to lend more. The new funds channelled into the Tanzania subsidiary are expected to recapitalize the business and put it on an expansion path. NCBA Bank Tanzania is now pivoting to serve large businesses while closing excess branches in specific locations. You Might Be Interested In

NCBA Group Acquisitions

2 Acquisitions

NCBA Group acquired 2 companies. Their latest acquisition was Commercial Bank of Africa on October 03, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/3/2019

$99M

Merger

4

10/3/2019

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$99M

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10

Date

10/3/2019

10/3/2019

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Merger

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Sources

4

10

NCBA Group Partners & Customers

1 Partners and customers

NCBA Group has 1 strategic partners and customers. NCBA Group recently partnered with Safaricom on October 10, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

10/1/2020

Partner

Kenya

Safaricom and NCBA Differ on Lowering M-Shwari Interest Rates

In contradiction to Safaricom 's earlier statement , Mr. Gachora said , `` I think there have been comments about the rate that were made by our partner , not by NCBA Group .

1

Date

10/1/2020

Type

Partner

Business Partner

Country

Kenya

News Snippet

Safaricom and NCBA Differ on Lowering M-Shwari Interest Rates

In contradiction to Safaricom 's earlier statement , Mr. Gachora said , `` I think there have been comments about the rate that were made by our partner , not by NCBA Group .

Sources

1

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