NCBA Group will start distributing 21.8 million of its shares, currently worth Sh1.9 billion, to qualifying employees after South Africa’s Nedbank Group acquires a 66 percent stake in the Nairobi Securities Exchange-listed lender.
The shares, which are part of NCBA’s staff compensation package, are held by trustees of the employee share ownership plan (Esop) and have not been granted to workers for more than seven years.
