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Kenyatta's family is among the top financial market gainers in 2022.
This followed the recent growth in the family's stake at the Nairobi Securities Exchange (NSE) listed firm, NCBA Group.
The bank recorded an outstanding growth in shares of 57.94%, defying the odds at the Nairobi bourse.
NSE recorded a slump of KSh 650.1 billion during the same year under review, following hikes in global rates, exacerbated by the Russia-Ukraine war.
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But the lender performed tremendously after investors reacted positively to its shares closing the year at KSh 39.35 per share, Business Daily reported.
The Kenyattas, who control 13.2% of NCBA's wealth, saw their shares increase by KSh 3.12 billion from KSh 5.5 billion to KSh 8.7 billion.
The bank's value increased to KSh 64.8 billion in the six months to December 31, 2022.
NCBA Group's net profit increased by 96.2%, becoming Kenya's fourth most profitable lender.
Other stakeholders who benefited from the bank's share growth include ex-Central Bank governor, Philip Ndegwa, and former head of Civil Service, Simeon Nyanchae.
The bank was incepted in 2019, following the merger of NIC bank and CBA bank by the Ndegwas who own KSh 8.5 billion (13.13% stake) and the Kenyattas.
The Ndegwas gained KSh 2.96 billion at the close of the year 2022.
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The Kenyatta family is known for several investments across different sectors of the economy.
In the real estate sector, the Kenyatta family owns Koto Housing Limited, which was established in 2014, a year after President Uhuru Kenyatta ascended to power.
The real estate firm was tasked to develop 2,000 units for police officers across the country after inking a deal with the National Police Service (NPS).
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Source: TUKO.co.ke
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