Former Kenyan Principal Secretary Esther Jepkemboi Koimett has become Middle East Bank Kenya’s largest individual shareholder with a 17.48% stake, following a multimillion-dollar inheritance from the estate of her late father, businessman and former Cabinet minister Nicholas Biwott.
The bank’s latest ownership disclosures place Koimett ahead of MEB Holdings Limited, which owns 11.58%, Mustang Limited at 10.47%, and Baumann Management Services Limited and Good Fortune Limited, which each hold 6.60%.
Koimett’s position marks a significant transfer of private banking wealth in Kenya and places a former senior public servant among the country’s most prominent individual investors in a commercial bank.
From inheritance to bank ownership
The stake followed a multi-billion-shilling transfer of wealth from the estate of her late father, businessman and former Cabinet minister Nicholas Biwott, who died in July 2017 and left each of his children an equal one-fourteenth share.
