Nairobi, Oct. 5 -- The family of the late former Central Bank of Kenya governor Philip Ndegwa will buy back a 24.1 percent ICEA Lion Insurance Holdings and regain sole ownership of the company in a deal worth Sh8.5 billion.

First Chartered Securities, the investment firm controlled by the Ndegwa family, has received approval from the Competition Authority of Kenya (CAK) to acquire the stake it sold to Prudential-backed LeapFrog Investments in 2021 for Sh2.4 billion.

Published by HT Digital Content Services with permission from Business Daily....