The families of retired President Uhuru Kenyatta and former Central Bank of Kenya governor Philip Ndegwa have gained Sh12.4 billion in paper wealth in five days of trading as the share price of NCBA Group surged 38.5 percent amid a buzz generated by buyout reports.
NCBA’s stock climbed to Sh96.25 on Wednesday from Sh69.50 at the opening of the Nairobi Securities Exchange (NSE) last Tuesday when news of its potential acquisition by Africa’s largest bank, Standard Bank Group, hit the market.