Kenyatta and Ndegwa Families Earn Sh12.4 Billion in 5 Days as NCBA Shares Surge

In a historic five-day bull run at the Nairobi Securities Exchange (NSE), the Ndegwa and Kenyatta families—two of the largest shareholders in NCBA Group—have seen their paper wealth soar by a combined Sh12.4 billion.

The growth follows a substantial rally in NCBA shares, sparked partly by news of South Africa’s Standard Bank Group entering talks to acquire the Kenyan lender, which could mark the largest banking acquisition in Kenya’s history.

Currently, the Ndegwa family holds a 14.94% stake in NCBA through First Chartered Securities, while the Kenyatta family owns 13.2% via Enke Investments.

From the start of the rally at Sh69.50 per share on Tuesday, October 14th, 2025, the Kenyatta family’s stake leapt from Sh15.11 billion to Sh20.93 billion by the close of trading on Wednesday, October 22nd. Meanwhile, the Ndegwa family’s share increased from Sh17.11 billion to Sh23.69 billion.

In just five days, the Kenyatta family’s net worth from NCBA grew by Sh5.82 billion, and the Ndegwas saw Sh6.58 billion added to their fortunes.

This impressive valuation boost demonstrates the influence of major shareholders and the impact of positive acquisition news on banking stocks in Kenya.

The rally highlights the market’s confidence in NCBA Group’s financial prospects and underlines the pivotal role that family-owned investment vehicles continue to play in the Kenyan banking sector.​