Former President Uhuru Kenyatta’s brother Muhoho Kenyatta holds a stake in the NCBA Group that is worth an estimated Sh20 billion. This has been made public through a circular to shareholders that was released by the bank on May 4, 2026. According to the circular, Uhuru’s brother Muhoho has 227.3 million shares at NCBA Group.
Muhoho holds these shares directly and indirectly through investment vehicles. This disclosure comes barely five months after he was named as the new non-executive director at the board of the NCBA Group. He assumed his new position starting from December 1, 2025.
When he announced Muhoho’s appointment, NCBA Group Managing Director and Chief Executive Officer John Gachora described him as an accomplished business executive with over 35 years of experience in leading and developing businesses across East Africa, spanning diverse sectors including manufacturing, healthcare, insurance, and banking.
“Mr Kenyatta has previously served as Deputy Chairman of one of the predecessor institutions of NCBA between 2000 and 2019, and as a director of NCBA Bank Uganda. He continues to support the Group’s growth in its digital strategy as a member of the Board of LOOP DFS Limited, a wholly owned subsidiary of NCBA Group PLC,” said Mr. Gachora.
Muhoho’s immense interests in the banking group are anchored by the Kenyatta family’s significant shareholding in NCBA. The Kenyatta family currently has a shareholding stake of 13.2 percent in NCBA through the family’s investment vehicle which is known as Enke Investments. It is ranked second after the Ndegwa family. The Ndegwas have a 14.94 percent shareholding stake in the banking group through the family’s investment vehicle which is known as First Chartered Securities.
Muhoho’s appointment as a director at the NCBA meant that his beneficial interests in the bank had to be disclosed together with those of other board members. The revelation of his interests in the bank come amidst an on-going takeover by South Africa’s Nedbank. The South African group is looking to acquire a controlling stake of up to 66 percent in NCBA.
“We chose Nedbank for good reasons. Nedbank has been listed on the Johannesburg Stock Exchange (JSE) since 1969. One of our key pillars is expanding into new markets , and as such, it made sense to have a strong parent,” said Gachora.
This will be through a shares purchase that is estimated to be of a value of 13.9 billion rands (about Sh109.9 billion). This purchase will be done through a mix of cash and Nedbank shares. This acquisition has already been backed by the top NCBA shareholders who hold up to 71.2 percent stake.
“Nedbank does not have a presence in the markets where we operate except for a representative office in Nairobi, and therefore we will not be going through a painful integration of either systems, policies, or people,” said Gachora.
“This, makes it a much easier transaction for our staff and customers. This was a big consideration for our board in considering what kind of transaction they would be willing to recommend to shareholders.”
In the same vein, the total dividend per share jumped by 29.1 percent during the financial year under review to Sh7.10. This followed a final dividend payment of Sh4.60 per share. On October 2, 2025, NCBA had paid shareholders an interim dividend of Sh2.5 per share. In the previous year, shareholders had received a total dividend payment of Sh5.50 per share.
The positive financial results for the full year 2025 and the upcoming takeover of the bank by Nedbank have sparked a share rally for the lender at the Nairobi Securities Exchange. An analysis by Bizna Kenya shows that over the past one year, the NCBA counter has touched a low of Sh48.50 per share and moved to a one-year high of Sh100 per share. The counter closed the market at Sh86.75 per share on Wednesday 06, 2026 with a low traded volume of just 116,133.
