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NCBA
Pioneering a transformative journey in the Eastern African financial sector, NCBA Group stands as a distinguished conglomerate headquartered in Nairobi, Kenya.
Its rich history dates back to 1959 when it was established as National Industrial Credit (NIC) by Standard Bank of South Africa and the UK-based Mercantile Credit, initially focusing on hire purchase and instalment credit facilities.
In 1971, NIC’s public listing on the Nairobi Securities Exchange (NSE) marked a significant milestone, setting the stage for its growth into mainstream banking. By the mid-1990s, NIC had secured a commercial banking licence, reflecting its evolution to meet expanding customer needs. The strategic merger with African Mercantile Bank in 1997 further bolstered NIC’s market presence and service offerings.
Entering the 2000s, NIC aggressively expanded into investment banking and insurance, establishing NIC Capital in 2006 and acquiring Solid Securities in 2008, solidifying its foothold on the NSE. This period also marked its international expansion with ventures in Tanzania and Uganda.
A pivotal moment arrived in December 2018 when NIC Group announced a merger with Commercial Bank of Africa (CBA). By April 2019, regulatory approval had paved the way for the creation of NCBA Group, now Kenya’s third-largest bank. This merger seamlessly blended NIC’s corporate strengths with CBA’s retail and mobile banking expertise, laying the foundation for significant growth and innovation in the financial landscape.
Today, NCBA operates in Kenya, Tanzania, Rwanda, Uganda, and Ivory Coast, with an extensive network of 109 branches.
Under the visionary leadership of Managing Director (MD) and Chief Executive Officer (CEO) John Gachora and Chairman James Ndegwa, the Group has become synonymous with financial innovation and customer-centric services.
NCBA’s market position is robust, with significant market shares in key sectors. In 2023, the Group maintained its status as the second-largest corporate bank in East Africa, boasting a substantial deposit base of KES 253 billion and growing its cross-border corporate relationships by 29 percent. The sectoral focus has led to notable market shares in diplomatic missions (60 percent), insurance companies (26 percent), and the SACCO sector (12.6 percent).
NCBA’s innovative product and service offerings have distinguished it in the competitive banking sector, with the NCBA Now app being a prime example. Initially launched in Kenya, this comprehensive banking app has recently expanded to Tanzania, reinforcing its regional presence. The NCBA Now app offers a full suite of features on both mobile and web platforms, easing access for customers. Users can monitor accounts in real-time, manage cards, request services, receive customisable alerts, transfer funds, pay bills, and perform instant mobile wallet transactions. Emphasising NCBA’s dedication to financial inclusion and exceptional customer service, the MD highlights the app’s pivotal role in meeting customer needs and enhancing financial accessibility throughout East Africa. Available on the App Store and Google Play, the app is set to expand further into Uganda, Rwanda, and Ivory Coast, extending NCBA’s digital banking reach across the region.
In the insurance sector, NCBA has made significant strides with its bancassurance services. The recent acquisition of AIG Kenya Insurance Company is set to enhance NCBA’s capabilities in providing comprehensive insurance solutions. By integrating NCBA’s extensive distribution network with AIG Kenya’s insurance expertise, the Group aims to become a leading provider of insurance services in the region.
NCBA’s dedication to sustainability is showcased through its ‘Change the Story’ initiative, launched in August 2023. This ambitious program focuses on five strategic pillars, including significant social impact. In line with its commitment to mobilise KES 30 billion for Green and Sustainable Financing, NCBA partnered with Proparco, part of the Agence Française de Développement (AFD) Group, securing a USD 50 million facility aimed at promoting sustainable economic development and advancing diversity, equity, and inclusion (DEI). To reinforce its commitment, NCBA also became a member of the UN Global Compact, ensuring accountability for its sustainability goals.
The Group’s dedication to excellence and customer service has been recognised through numerous awards. In 2023, NCBA won multiple accolades at the Institute of Customer Experience (ICX) Kenya Service Excellence Awards, including: 1st Place Winner for Best Customer Experience Strategy; 1st Place in the CX Week Innovation Category; and 3rd Place for Best Use of Technology in Customer Experience.
At the helm of NCBA’s success are James Ndegwa and John Gachora. James Ndegwa, the Chairman of the Group, brings a wealth of experience and strategic insight to the organisation. His oversight has been crucial in guiding the Group through its transformative journey and ensuring sustained growth and success.
As Group MD and CEO, John Gachora has been instrumental in steering NCBA through its merger and subsequent growth. With a background in engineering and computer science from the Massachusetts Institute of Technology (MIT), Gachora’s expertise and transformational leadership have been pivotal in driving NCBA’s strategic initiatives and fostering a culture of innovation. His leadership at NIC Bank since 2013 and subsequent role at NCBA have marked a period of uniqueness, agility, dynamic growth and market leadership.
Together, Gachora and Ndegwa have cultivated a culture of excellence and product innovation within NCBA, positioning it as a leading force in the African banking sector.
NCBA Group’s evolution from its origins as NIC to its current status as a financial powerhouse is a testament to its adaptability and commitment to excellence. With a focus on customer-centricity, innovation, and sustainability, NCBA is poised to continue breaking barriers and elevating its customers. Reflecting its commitment to ‘Inspire Greatness’, NCBA’s brand communication, ‘Twende Mbele’ (Let’s Go Forward), motivates over 63 million customers across Africa to pursue their aspirations and boldly ‘Go For It’.
