Controlled by Kenya’s richest families, NCBA Group lends Mauritian firm $10.7 million
NCBA’s loan to Grit now represents more than 2.27 percent of the real estate company’s overall debt.
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NCBA’s loan to Grit now represents more than 2.27 percent of the real estate company’s overall debt.
NCBA Group is partially owned by the super-rich Kenyatta, Merali, and Ndegwa families.
Ndegwa owns 4.3 percent of NCBA Group.
NCBA Group is partly owned by the super-rich Kenyatta, Merali, and Ndegwa families.
The Ndegwa family’s 13.13-percent stake in NCBA Group is worth $54 million.
This year alone, the group has launched four branches in Kenya.
The double-digit increase in earnings was driven by a significant rise in interest and non-interest income.
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.