The Kenyatta family has reportedly made a staggering Sh. 3.12 billion (approximately $30 million) in just 12 months from their investment in the National Cooperative Bank of Kenya (NCBA). This impressive financial feat has sparked controversy and raised questions about the potential conflict of interest within the country’s financial sector.
The Kenyatta family, which includes President Uhuru Kenyatta and his deputy William Ruto, is known for its significant wealth and influential business dealings. Their involvement in the NCBA has raised concerns about potential insider trading and the use of their political power to benefit their own financial interests.
Critics have pointed out that the Kenyatta family’s investment in the NCBA presents a clear conflict of interest, as the bank is regulated by the Central Bank of Kenya, which is under the jurisdiction of the president. This raises the question of whether the Kenyatta family is using their political power to influence regulatory decisions in favor of their own financial interests.
Additionally, the Kenyatta family’s involvement in the NCBA has raised concerns about the potential for insider trading. The family’s access to sensitive financial information about the bank could give them an unfair advantage in their investment decisions.
Despite these concerns, the Kenyatta family has defended their investment in the NCBA, stating that it was made purely for business reasons and that they have no intention of using their political power to influence regulatory decisions. However, many remain skeptical of these claims, and the controversy surrounding the Kenyatta family’s investment in the NCBA is likely to continue.
In conclusion, the Kenyatta family’s impressive financial success from their investment in the NCBA has raised significant concerns about potential conflict of interest and insider trading within Kenya’s financial sector. It remains to be seen how this controversy will play out in the coming months, but it is clear that the Kenyatta family’s involvement in the NCBA will continue to be a hot topic of debate.
