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Moi’s Multi Million Stake In Local Banks Change Ownership

SK 2 years ago 2 min read

Eunice Kibiwot Moi now owns the Sh520 million in shares that the late former president Daniel Moi had in a local.

According to paperwork submitted to the Capital Markets Authority, Moi’s investment company Kabarak Limited previously held the shares of Standard Chartered bank.

The shares were given to Shawmut Limited, a company whose director is Eunice, the wife of Moi’s son John Mark.

John Mark is the son of Moi who is least well recognized, making it difficult to find his photo.

The Sh520 million shares equal 1.03% of the bank’s equity.

The same banking institution has shares worth Sh60 million that Philip Moi and his son also own. He is the third-largest individual shareholder in the community.

The British parent firm currently holds about 73.82 percent of the bank, with the Moi family owning a combined 1.14%.

The bank made Sh9.04 billion in profit last year. The family earned Sh60.312 million as a dividend payout.

In his testament, Moi distributed his multibillion-dollar wealth among his children.
Court records show that

Equal shares are available for use by Jonathan Kipkemboi Moi, Raymond Moi, John Mark Moi, Philip Moi, and Gideon Moi as well as their offspring.

Ten years prior to his passing on February 4, 2020, Moi drafted his will in 2010.

His attorney Zehrabanu Janmohamed, who is also a non-executive director of Standard Group Plc, is the executor of his will.

According to Reuters, Zehrabanu has over twenty (20) years of legal expertise and is a barrister at Lincolns Inn (UK) and an advocate for the High Court of Kenya.

She is a lawyer at Archer & Wilcock Advocates and a participant in the committees for finance and audit as well as for human resources and compensation.

Moi bequeathed Sh100 million in cash to each of his daughters, June Chebet Moi, Doris Chekorir, and Jenifer Chemutai.

In addition, the late former head of state left a 931-hectare parcel of property to the Kabarak University Trustees for the benefit of his five sons.