Kenya's wealthy Kenyatta and Ndegwa families stand to pocket $170 million from the Nedbank NCBA takeover
Billionaires Africa | 04.06.2026 10:08
Kenya's two most storied banking dynasties are about to collect a substantial payday. The families of founding President Jomo Kenyatta and former Central Bank of Kenya governor Philip Ndegwa have signed irrevocable commitments to sell their NCBA Group shares to South Africa's Nedbank Group, putting them in line for a combined windfall of more than 21.9 billion Kenyan shillings, approximately $170 million, in a mix of cash and Nedbank stock.
