The Kenyatta familyone of Kenyas influential political and business families and the countrys largest private landownersis facing a sharp markdown in the value of their holdings in NCBA Group after a steady drop in the banks share price on the Nairobi Securities Exchange.
The family holds its stake through the estate of the late President Jomo Kenyatta, which owns 217.5 million shares, or 13.2 percent of the bank. Over the past five weeks, that stake has fallen by Ksh2.61 billion 20.12 million. The holding, which stood at Ksh20.93 billion 161.35 million a little more than a month ago, is now worth Ksh18.32 billion 141.24 million.
NCBA drop hits Kenyatta stake