Companies Ndegwa family puts empire on new path with asset salesMr James Ndegwa (left) and the JKUAT Towers, formerly ICEA building, along Kenyatta Avenue. PHOTOS | FILEThe Philip Ndegwa family has intensified the reorganisation of its multi-billion shilling business empire with the sale of struggling assets and the bringing on board of deep-pocketed partners to expand segments with high growth potential. The Ndegwa family has a controlling stake in NIC Group while CBA is majority-owned by the family of the founding president Jomo Kenyatta. Ahead of the proposed tie-up with CBA, the Ndegwas had moved to involve more family members in the running of NIC. Ms Wakini Ndegwa joined the bank as a non-executive director earlier this year.

Source: The North Africa Journal December 11, 2018 06:45 UTC