Wednesday, February 28, 2024

Kenyatta family makes Sh. 3.12 billion in 12 months from NCBA

The Kenyatta family gained Sh. 3.12 billion within one year from their ownership of a stake in the NCBA Bank at the Nairobi Securities Exchange.

This followed market gains that were realized by the NCBA stock, which emerged as the biggest gainer within the year amongst the banking stocks.

The NCBA stock gained by 57.94 percent in the year. This saw the Kenyatta family which now controls a stake of 13.2 percent gain 3.12 billion shillings to end the year at a value of Sh. 8.66 billion from the value of Sh. 5.5 billion as at January 2022.

The other too gainers from the NCBA stock were the Ndegwa family. The family had in mid 2022 acquired an additional NCBA stake worth some Sh. 296 million at the time. This stake was equivalent to ten million new shares.

In May 2022, the family has moved its NCBA shares that at the time were worth Sh. 1.7 billion in a restructuring strategy. The family moved the shares to its primary investment vehicle.

The Ndegwas stake at NCBA is now worth Sh. 8.5 billion. This is just slightly less than what the Kenyattas stake is worth.

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Other top shareholders at NCBA include the late businessman Naushad Merali. In the financial year 2021, Merali through Yana Investments Limited disposed some 11.6 million shares currently worth Sh. 291.1 million.

Merali previously held 97.2 million shares and this dropped to 85.5 million units equivalent to a 5.2 percent stake.

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1 COMMENT

  1. I believe the economy would perform excellently if everyone played their role,not that scenario ,that some put in the national basket while other crafty dealers,steal,like the covid billionaires!!we all must sweat, contribute to the economy,coz some are gigantic looters!!!

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