Kenyan executive James Ndegwa gains $2.4 million from NCBA stake in 11 days
Ndegwa, the former chairman of Kenya’s Capital Markets Authority, owns 4.57 percent of the Nairobi-based financial services conglomerate.
Ndegwa, the former chairman of Kenya’s Capital Markets Authority, owns 4.57 percent of the Nairobi-based financial services conglomerate.
This highlights Ndegwa’s standing among Kenya’s top investors, solidifying his position among the nation’s leading businessmen.
Ndegwa, the former chairman of the Capital Markets Authority and son of the late Kenyan economist Philip Ndegwa, is a top figure in the Kenyan business scene.
The Ndegwa family’s latest endeavors build upon their previous strategic investments in the Kenyan financial sector.
The Ndegwa family has strengthens its position in NCBA Group.
The Ndegwa family’s 13.13-percent stake in NCBA Group is worth $54 million.
The family of the late Jomo Kenyatta, Kenya’s prime minister from 1963 to 1964, will receive a dividend of $4.27 million from their stake.
NCBA Group is a Nairobi-based financial services conglomerate functioning as a non-operating holding.
The loss came off the back of profit-taking actions and portfolio-rotation activities on the Nairobi Stock Exchange.
The two brothers own a joint stake amounting to 138,525,913 ordinary shares in NCBA Group.
The gains occurred on the back of a rise in the company’s share price.
The leading financial services company now requires clients to put only five percent of the total vehicle cost down.