
Kenya’s largest landowners, Kenyatta family, to pocket $2.6 million from NCBA
The Kenyatta family owns a 13.2-percent stake in NCBA Group through the estate of their late father, Jomo Kenyatta.
The Kenyatta family owns a 13.2-percent stake in NCBA Group through the estate of their late father, Jomo Kenyatta.
This latest development from the Ndegwa family follows their earlier strategic investment in the Kenyan financial sector.
In June, Njonjo revealed that development rights for the project would be handed over to Selu Limited.
Patel holds a total of 50.06 million shares in Absa Bank Kenya, equivalent to a 0.92-percent stake.
Patel, a Kenyan multimillionaire with diverse investment interests, owns a 4.12-percent stake in Bamburi Cement.
Rai’s legal endeavors extended to business matters. In 2022, he contested the awarding of a leasing contract to the Uganda-based Sarrai Group.
NCBA Group, which resulted from a momentous merger in 2019, is partially owned by the Kenyatta, Merali, and Ndegwa families.
The Moi family, which commands significant influence across business and politics, has emerged as one of Kenya’s richest families.
Njonjo highlighted the role of technology in this transformation, exemplifying it with an optic sensor installed at the Taveta farm.
Agarwal’s Vedanta Resources owns the Konkola Copper mine in Zambia which was seized by former President Edgar Lungu.
Through their late father’s estate, Jomo Kenyatta, the Kenyatta family owns an impressive 13.2-percent stake in NCBA Group.
The Ndegwa family, which was involved in the merger of NIC Bank Group and Commercial Bank of Africa Group in 2018, owns a 14.94-percent stake in NCBA Group.
The Competition Authority uncovered evidence of price fixing, where nine companies, including Raval’s Devki Steel Mills, collaborated to collectively set prices.
Equity Group, under the leadership of Mwangi, reported a profit of $182.8 million at the end of the first half of its 2023 fiscal year.
The decision to establish the wind power plant, a strategic maneuver to cut operating costs, follows an earlier revelation.
Muriuki owns a significant stake of two percent in Co-op Bank, which translates to 117,471,300 shares in the Nairobi-based lender.