Kenyan banking exec Andrew Ndegwa gains $1.5 million in 43 days from investment in NCBA Group
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.
NCBA Group shares have soared in value in recent days.
Ndegwa owns 4.3 percent of NCBA Group, or 70,909,968 ordinary shares.
Ndegwa’s 4.3-percent stake in NCBA Group, now worth $15 million, has dropped in value in recent weeks.
The gains in her stake can be attributed to buying pressure on the Nairobi Stock Exchange.
A strong underlying performance across key segments of its business saw its profit increase by double digits.