President Uhuru Kenyatta's family is a part of a select tier of wealthy investors set to pocket big money in a payout.
According to a report by Business Daily, the Kenyatta family is poised to cash in on dividends payout alongside the Peter Ndegwa family as well as the Chief Executive Officers of two leading banks in the country.
The four are expected to pocket a total sum of Ksh1.1 billion which are dividends for the last financial year ending December 2019.
The Kenyattas and the Ndegwas will be making their fortune from the same honeypot following a merger of two banks that the two families had shares in.
Broken down, the Kenyatta family will walk away with a payout of Ksh296.5 million borne from their 13.2 per cent stake in the merger.
The Ndegwa family, on the other hand, is expected to make Ksh263.9 million on their 11.75 per cent stake.
The payment is expected to be Ksh1.75 per share since the merger. When effected, the Kenyatta family's total income is expected to compound to Ksh345.9 million while that of the Ndegwas will be Ksh307.9 million.
The merger placed the lender as the sixth-largest in Kenya judging by absolute profits. It had reported profits of Ksh7.8 billion in the year ended December 2019.
Kenya Commercial Bank (KCB) is the country's largest lender by assets and managed a net income of Ksh25.1 billion while Equity Bank, the second-largest, racked up Ksh22.3 billion.
Co-operative Bank, the third-largest amassed Ksh14.3 billion in net income.
The Kenyatta family has also vast interests in other industries including milk processing, Education as well as media.
