Ndegwas overtake Kenyattas in NCBA stake
The Philip Ndegwa family has bought an additional 31.6 million shares of NCBA Group overtaking the Kenyatta family.
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The Philip Ndegwa family has bought an additional 31.6 million shares of NCBA Group overtaking the Kenyatta family.
The family of Jomo Kenyatta is among the top beneficiaries of the combined Sh63 billion dividends that Kenya’s listed banks are set to pay.
Regulatory filings show that the Ndegwas’ investment vehicle First Chartered Securities raised its holdings of the bank shares to 216.2 million.
The transaction saw the ownership linked to the family of the late Philip Ndegwa, a former Central Bank of Kenya governor, increase by 12.7 million shares to a 12.52 percent stake currently worth...
However, some businesses have grown into successful entities even after their founders died or left the ventures.