Monday, May 27, 2024

Career profile of Andrew Ndegwa who made Sh. 414.6 million in 26 days

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Andrew Ndegwa is a Kenyan businessman and the executive director of First Chartered Securities Limited, a private investment holding company.

Andrew’s career started in the banking industry, and he has served at various organizations, among them Mercantile Finance Company, its affiliate The African Mercantile Banking Company and Citibank Nairobi.

He later joined First Chartered Securities in 1994 as the Group Planning Manager and, in 2000, was appointed to the Board as Executive Director.

Andrew is also a Non-Executive Director of several other companies, including NCBA Group Plc and Unga Group Plc, both of which are quoted on the Nairobi Securities Exchange.  He boasts an extensive experience in business management and financial services.

How Kenyan businessman made Sh 414.6 million in 26 days

He is one of the biggest investors and shareholders at NCBA Group, with 4.3 per cent or 70.6 ordinary shares.

Andrew’s investment portfolio is rooted in his father, the late Philip Ndegwa, who was the third Central Bank of Kenya (CBK) governor, and who created one of Kenya’s single largest business empires.

His vast estate spanned around banking, agriculture, logistics, and real estate and was passed to his sons Andrew and James. Ndegwa founded First Chartered Securities in 1974 with 20 other shareholders.

The firm had a stake of a 25 per cent  in NIC Bank, where his two sons James –the NCBA chairman – and Andrew, were the biggest shareholders and officials.

The duo split half of their family’s 25 per cent stake in the then NIC Bank that was worth Sh. 5 billion. Andrew’s  6.5 per cent stake at NIC was said to be worth Sh. 1.1 billion before the merger with CBA.

Andrew holds a Bachelor of Arts (Hons) degree in Philosophy, Politics and Economics from Oxford University.

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