It has been a good year for tycoons owning bank shares like the Kenyattas, the family of former Central Bank of Kenya governor Philip Ndegwa and Equity Group #ticker:EQTY chief executive James Mwangi after each added more than Sh1.4 billion to their wealth.
The surge in the billionaires’ fortunes this year was fuelled by the rise in bank share prices following the removal of the legal cap on commercial lending rates.
