Muhoho Kenyatta returns to NCBA board amid buyout talks

Kenyan businessman Muhoho Kenyatta is returning to the family’s banking interests after being appointed a non-executive director at NCBA Group Plc, the Nairobi-based lender linked to the Kenyatta family. His appointment, announced on Wednesday by Group Managing Director John Gachora, takes effect on Dec. 1, marking one of the most visible changes at the bank as speculation grows over ongoing buyout talks with Standard Bank Group, Africa’s largest lender.

NCBA did not say whether Kenyatta’s entry would alter the current board structure, which has ten sitting directors. The bank simply noted that it “welcomes him to the NCBA board,” describing him as a seasoned executive with a long record in regional business leadership. Kenyatta brings more than three decades of experience across East Africa’s corporate sector, including roles in manufacturing, insurance, healthcare and banking.

Kenyatta builds firms, boards and talent

A graduate of Williams College in Massachusetts, he has worked in financial modelling, corporate governance and long-term business planning both in Kenya and abroad. He is best known for founding Brookside Africa Ltd., now one of the region’s largest dairy processors with operations in Kenya and Uganda.

His public and private sector involvement extends across multiple industry bodies, such as the Kenya Association of Manufacturers, the Kenya Private Sector Alliance, the Kenya Dairy Board and the Kenya Shippers Council. He also served as deputy chairman of one of NCBA’s predecessor institutions between 2000 and 2019 and previously sat on the board of NCBA Bank Uganda. Within the group, he continues to support digital financial services through LOOP DFS Ltd., a fully owned NCBA subsidiary.

Beyond finance, Kenyatta remains active in youth development initiatives. He supports programs aimed at helping young people build careers and participate in economic decision-making, including a corporate-backed effort known as The Compass Project, which focuses on mentorship and leadership training.

NCBA earnings climb, Standard Bank circles

NCBA itself has grown rapidly since the 2019 merger of NIC Group and Commercial Bank of Africa, an alliance that joined two long-running family-owned institutions. The bank now operates across Kenya, Tanzania, Uganda, Rwanda and Côte d’Ivoire, giving it one of the strongest regional footprints among Kenyan lenders.

The Kenyatta family holds 217.5 million shares, or 13.2 percent of NCBA, through the estate of the late President Jomo Kenyatta. The value of that stake has slipped over the past five weeks, falling from Ksh20.93 billion ($161.35 million) to Ksh18.32 billion ($141.24 million), a decline of Ksh2.61 billion ($20.12 million), amid broader market pressure.

Still, NCBA has delivered steady results in a tough environment marked by high interest rates and limited liquidity. The bank posted a Ksh8.92 billion ($69 million) profit in the first half of 2025, up from Ksh8.39 billion a year earlier. The performance has drawn attention from investors including Standard Bank Group which is in advanced talks to acquire NCBA through its Kenyan arm, Stanbic Holdings.

If completed, the deal would create Kenya’s third-largest bank by assets—an outcome that could reshape the country’s financial sector and place renewed focus on the Kenyatta family’s long-standing role in the banking industry.