Kenyatta family gains $11 million as NCBA shares rebound

The Kenyatta family, one of Kenya’s most influential dynasties and the country’s largest private landowner, has seen the value of its stake in NCBA Group rebound sharply, adding about $11 million in recent weeks as the bank’s shares recovered on the Nairobi Securities Exchange.

Through the estate of Kenya’s first president, Jomo Kenyatta, the family controls 217.5 million shares of NCBA Group, a 13.2 percent stake. The holding is valued at Ksh18.11 billion ($140.42 million), up from Ksh16.64 billion ($129.04 million) as of Dec. 9, as NCBA’s share price gained, reflecting continued buying in the Nairobi-based lender during recent trading sessions.

Recovery follows late-year pullback

The rebound comes after a difficult stretch late in the year, when NCBA shares came under pressure. Between Oct. 22 and Nov. 27, the value of the Kenyatta family’s stake fell by $20.12 million, sliding from Ksh20.93 billion ($161.35 million) to Ksh18.32 billion ($141.24 million).

That pullback mirrored broader caution on the local bourse, as investors weighed currency risks, interest rates, and profit-taking after a strong rally earlier in the year. The recent recovery has helped restore part of that lost value, offering relief to long-term shareholders.

NCBA’s regional footprint 

NCBA, headquartered in Nairobi, operates in Kenya, Tanzania, Rwanda, Uganda and Côte d’Ivoire. Formed in 2019 from the merger of NIC Bank Group and Commercial Bank of Africa Group, the lender combines retail, corporate and digital banking operations across East Africa.

Since Dec. 9, NCBA shares have risen 8.82 percent, climbing from Ksh76.5 ($0.593) to Ksh83.25 ($0.645). That boost has propelled the bank’s market capitalization back above the $1 billion mark, reflecting its status as one of the region’s leading financial groups.

NCBA shares surge, investors return

NCBA is one of the NSE’s best performers this year, with shares up over 72 percent. A $100,000 investment at the start of the year would now be worth $172,720. The gains have continued to draw interest from both local and foreign investors. For the Kenyatta family, it reflects a gradual recovery in value rather than a one-off surge.