Philip Ndegwa, The Man Holding History As First Kenyan To Bank A Billion

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Who is the first man to bank a billion in Kenya?

The record is held by former Governor of Central Bank of Kenya (CBK), the late Philip Ndegwa.

Ndegwa, an Alumni of Alliance High school, first worked as a government official where he was an advisor on economics and planning.

He would later serve as the chairman of most banks in Kenya before taking over as the CBK Governor in 1982, where he replaced Duncan Ndegwa.

In this segment, Times Digital is going to explore Philip Ndegwa who was the first person to. bank a billion in Kenya.

Philip Ndegwa net worth

Long after his death, Philip Ndegwa family is still considered as one of the wealthiest families in Kenya.

The former CBK boss had amassed property and wealth estimated at around Shs 9 billion before his death in 1996.

Upto date, the Ndegwa family still mints money from several businesses which include ICEA Lion group, NCBA Bank (shareholders), AMbank House and Inchcape shipping services among many more.

Now, Times Digital focuses on the family of Philip Ndegwa which include his wife and children.

Philip Ndegwa wife

Ndegwa was happily married to Alison Mary Ndegwa. The two were blessed with 3 children who are seemingly the biggest benefitiaries of Mr Ndegwa’s huge fortune.

Andrew Ndegwa, Philip Ndegwa son: PHOTO COURTESY

Philip Ndegwa sons

The sons of Philip and Alison Mary include Andrew Ndegwa Stewart & James Ndegwa.

Andrew Ndegwa

Andrew is the chairman of NIC Bank and also Executive Director of First Chartered Securities. His NIC holding, which amounts to 6.5 percent, is valued at Sh1.1 billion.

James Ndegwa

James, the son of Philip Ndegwa also holds shares of around 6.5 percent (Shs 1.1 billion) in NIC Bank. In addition to several directorships, James Ndegwa is the chair of First Chartered Securities.