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Pandit family cuts stake in financial firms for real estate
Fedha Plaza on Mpaka Road in Westlands, Nairobi. The property is one of the late prominent businessman Lalit Pandit’s family recent investments as it shifts focus from financial services sector to the booming real estate sector. Photo/FILE
The family of the late businessman Lalit Pandit is reducing its presence in Kenya’s financial services sector to focus on the booming property market, harvesting millions of shillings from sale of its stake in banks and insurance firms.
The family recently sold a 66.6 per cent stake in Mercantile Insurance Limited to Morocco-based Saham Finances, earning hundreds of millions of shillings from the deal.
