Standard Bank plots a takeover

The Kenyan unit of Standard Bank Group, a financial services provider, is in talks to acquire NCBA Group, a Kenyan retail and digital bank. If the deal goes through, it would create the country’s third-largest lender with nearly $8.5 billion in assets, according to their latest filings.

How we know it’s happening: Insiders say that internal approvals at Stanbic are done, and share prices are reacting. NCBA Group, valued at over $970 million, had its shares jump to 74% in the past 12 months. This could mean that the market is already pricing in a tie-up. Although there is no guarantee that a deal will be finalised, both entities plan on concluding a transaction in the following months.

When strong currents meet: NCBA’s consumer reach with Standard Bank’s continental muscle creates a hybrid model built for scale. The combined entity can finance regional corporations and still dominate mobile lending. Together, they could offer a deeper corporate base and ensure better cross-border finance, while having a retail edge that NCBA built through mobile lending.

Still behind the top two: The merged entity would still sit right under Equity Group Holdings, with its $13 billion assets, and KCB Group, with its $15 billion assets, Kenya’s two largest lenders. Stanbic and NCBA's link-up would pose a fierce competition, but will the asset gap start to close?

Zoom out: This takeover aligns neatly with Standard Bank’s goal to deepen its East African footprint and secure a bigger slice of Kenya’s fast-growing financial market.

Yango Group, a United Arab Emirates (UAE) tech company known for its ride-hailing, delivery, and super-app ambitions, has invested in Zanifu, a Kenyan fintech that provides working capital loans to small and medium-sized enterprises (SMEs). This undisclosed cash injection comes through Yango’s $20 million venture arm, Yango Ventures, and is part of the company’s broader ambitions to sit in Africa’s fintech and digital infrastructure. 

Zoom in: In July, Yango invested in BuuPass, a Kenyan startup that digitises travel bookings, to expand its mobility reach. The Zanifu investment plants another flag in the finance sector. A bigger picture emerges: Yango is trying to plug itself into everyday African life, from movement to money.

Why this matters: Yango is building a layered presence by knitting together services that connect travel and payments, plus its own offerings, using Kenya as its innovation playground. Plus, Uber’s exit in Côte d’Ivoire in September 2025, after six years, leaves Yango with a clearer runway in mobility and adjacent services. 

Zoom out: Yango is now positioned to serve small businesses and everyday commuters, stretching the value chain. This duality can mean that Yango has a competitive edge across sectors.

At the rate global electric vehicle (EV) giants are going gung-ho about South Africa, it’s causing a tingle of jealousy for a non-South African like myself. Yet it’s a good thing for Africa, where the narrative has always been that EVs cannot work here because we lack the infrastructure. Players serious about Africa are building the infrastructure first and asking questions later.

State of play: BYD, the Chinese EV giant, announced Thursday that it will build a 1-megawatt (MW) charging network in South Africa by 2026, the country's largest EV stations and enough to power multiple EVs up to 400km in five minutes, according to executive vice president Stella Li. Construction begins in Q2 2026, starting with BYD dealerships before expanding to highways and major cities.

Between the lines: The plan comes as BYD strengthens its footprint in South Africa, where it launched the Dolphin Surf compact EV in September and signed a cooperation deal with Eskom, the country's largest electricity provider, to advance electric mobility. The chargers will use both grid and solar power, allowing expansion beyond major metros.

Why it matters: This investment could shift South Africa’s EV landscape faster than policy has been moving. South Africa’s high import duties on EVs have kept prices high for consumers, but investments like this could force a rethink from the government, while simultaneously raising the stakes for established automakers that have moved slowly on electrification.

The big picture: BYD is betting that building chargers first will create the demand that policy hasn’t yet unlocked. It is testing this thesis on South Africa— the largest vehicle market in Africa—before scaling to Kenya, Nigeria, and several other countries on the continent where it has an established presence.

The story of Nigeria’s small businesses is one of grit that’s starting to wear thin. A new report from Moniepoint shows that 38% of small and informal businesses make less than ₦10,000 ($7) in profit daily. Even more striking, 70% earn below ₦50,000 ($34) a day.

The 2025 Informal Economy Report by Moniepoint examined data from five million businesses and on-the-ground surveys across Nigeria. It found that most are stuck in survival mode. Rising fuel, transport, and supplier costs have eaten into profits, even for businesses with higher revenues. About 79% said their cost of doing business has gone up in the last year, while only 47% saw any profit growth.

Between the lines: Women entrepreneurs are faring worse. Around 41% of women-owned businesses earn below ₦10,000 ($7) daily, compared to 34% of men. Though the naira has stabilised in recent months, the lingering effect of hemorrhaging currency value in recent years remains.

Savings are also falling. 74% of business owners now save money, down from 92% last year. Most save for stock or expansion, but borrowing has become harder with high interest rates and tighter lending rules.

Nigeria’s small businesses power more than 80% of jobs and 48% of the gross domestic product (GDP), yet they are being priced out of growth. Policy needs to move beyond scattered interventions to real, coordinated support that helps them scale, not just survive.

Source:

* Data as of 06.45 AM WAT, October 20, 2025.

Events

• Bigger, bolder, and more intentional. Following the resounding success of the inaugural summit in 2024, Growth Padi is thrilled to announce Growth Africa Summit 2025 (GAS 2.0) with the trailblazing theme: “Redefining the Growth Playbook.” Set against the backdrop of a fast-evolving entrepreneurial landscape, this year’s summit will challenge outdated strategies and usher in a new wave of radical, resilient, and relevant growth models tailored for African businesses. Register to attend by November 1.
• Got a startup story worth telling? My Startup in 60 Seconds is TechCabal’s one-minute spotlight for founders to share their journey, from vision and challenges to major wins. It’s more than just visibility; it’s a chance to reach investors, potential customers, and Africa’s wider tech ecosystem. Be featured in My Startup in 60 Seconds or explore other TechCabal advertorial opportunities and let the ecosystem hear your story. This is a paid opportunity.
• Calling all AI enthusiasts for Africa’s premier all-expense-paid AI and Data Science learning experience this October, powered by Data Science Nigeria (DSN). The AI Bootcamp 2025 will run from October 20–25 at the University of Lagos, bringing together learners from 36 states and 13 African countries for practical training, mentorship, and collaboration under the theme “AI for All: Democratizing Intelligence and Driving Impact.” Join the free city classes to qualify for the Bootcamp. Register here.

• “We chose accessibility over sophistication, every time”: Day 1-1000 of Crop2Cash
• Digital Nomads: The global tech recruiter who can chose where to build a career
• DHL eyes new Nairobi office in Sh45 billion Africa expansion bid

Written by: Opeyemi Kareem and Emmanuel Nwosu

Edited by: Ganiu Oloruntade

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