HFCB allocates Sh1bn stake to staff shares ownership scheme

HFCB has allocated a Sh1 billion stake to its employees through an employee share ownership plan (Esop). Employees now hold 94.36 million shares, representing a 4.77% stake, making them the fifth-largest shareholder. The issuance diluted the holdings of major shareholders, including Britam Holdings (from 48.18% to 45.6%) and the family of Anthony Mwaura (from 12.72% to 12.12%). Shares are allocated based on individual performance ratings over a five-year period.