Family Bank will begin trading on the Nairobi Securities Exchange (NSE) on June 23 after receiving approval from Kenya’s Capital Markets Authority (CMA), marking the culmination of a decades-long journey from a small building society into one of the country’s largest mid-tier lenders.
The bank will list by way of introduction, allowing existing shareholders to trade their shares publicly without issuing new stock or raising additional capital.
For Family Bank, the listing represents more than a market debut. It marks the latest milestone in a transformation that began in 1984 when the institution was founded as Family Finance Building Society before securing a commercial banking licence in 2007 and growing into a lender with assets of KES 230.3 billion ($1.78 billion).
The approval also concludes a five-year formal push to join the public market and provides liquidity to shareholders who have traded the bank’s shares through over-the-counter arrangements since 2006.
“Our vision to positively transform people’s lives in Africa has remained unchanged and this listing will accelerate the realization of that vision,” Managing Director Nancy Njau said.
