Kenyatta family, Kenya’s largest landowners, loses $20 million from NCBA stake
Kenyatta family records a $20 million loss on its NCBA holdings as the bank’s share price slips on the Nairobi Securities Exchange.
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Kenyatta family records a $20 million loss on its NCBA holdings as the bank’s share price slips on the Nairobi Securities Exchange.
NCBA unveils a $6 million digital platform with Intellect Global to enhance corporate banking and expand its digital reach in Kenya.
The Kenyatta family’s NCBA Group may be on the verge of a takeover by Standard Bank, signaling a shift in Kenya’s financial power.
NCBA, backed by Kenya’s richest families, posts $85.8 million H1 profit, driven by rising interest income despite lower deposits and total assets.
The Kenyatta family earned up to $22 million in 2022 from land and sand deals during the $682 million Nairobi Expressway construction, records show.
Kenyatta family gains $10 million as NCBA stock rallies 12%, lifting their 13.2% stake to over $92 million in just 22 days.
NCBA, backed by Kenya’s elite families, posted a modest 3.41% Q1 profit rise to $42.4 million despite loan book contraction and macroeconomic headwinds.
The gain follows a strong rebound in the bank’s shares on the Nairobi Securities Exchange (NSE).
Driven by the vision for Kenya’s development, the Kenyattas have strategically invested in sectors crucial to the nation’s growth, from infrastructure to agriculture.
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
NCBA Bank Kenya justified the increase, citing the need to align with prevailing market conditions.
Partially owned by prominent Kenyan families such as Kenyatta, Merali, and Ndegwa, the conglomerate remains steadfast in strengthening operations within Kenya while expanding its footprint across the region.
NCBA’s board of directors recently recommended a final dividend of Ksh3 per share, bringing the full-year payout to Ksh4.75 (0.04) per share.
The $50-million loan from Proparco represents a significant milestone for NCBA Group as it continues to drive sustainable economic growth and support SMEs in Kenya.
NCBA Group is a Nairobi-based financial services conglomerate partially owned by the Kenyatta family renowned as Kenya’s largest landowners.
NCBA Group counts some of Kenya’s richest families among its shareholders, including the Kenyatta, Merali, and Ndegwa families.