On 16 June 2025, it was confirmed that Mr Anthony Mwaura, former chairman of Kenya Revenue Authority (KRA), has bought a large number of shares in HF Group PLC. HF Group is a leading mortgage and financial services bank in Kenya. Mr Mwaura made this big move through the bank’s rights issue in the middle of 2024. His family is now the second-largest shareholder in HF Group, after Britam Holdings, which owns about 48.17 percent of the bank’s shares.
Some journalists who are following the transactions say Mr Mwaura bought 81.6 million shares in HF Group. That means he now owns 4.33 percent of the bank. According to reports from the Nairobi Securities Exchange (NSE), the value of these shares is about Sh548.3 million.
Mr Mwaura did not buy these shares alone. His wife, Rose Njeri, also bought 4.21 percent of the bank’s shares. That means she put in about Sh533.5 million. His daughter, Susan Wanjiru, also bought 4.18 percent. That means her investment is worth about Sh528 million. Reports say Rose Njeri made her payments through her company, Effort Merchants. Susan Wanjiru made her payments through Janton Investments.
Together, the Mwaura family now owns a total of 12.72 percent of HF Group’s shares. That makes them the second-largest shareholder after Britam. The family is now more powerful in the bank than many big companies and institutions. They are now ahead of Wizpro Enterprises and Acini Invest, which each have about 4.33 percent of the bank’s shares.
The price of HF Group’s shares on the Nairobi Securities Exchange fell to Sh3.32 at its lowest in the last 52 weeks. It also went up to Sh9.74 at its highest in the past year. The movement in price shows there is a lot of interest in the bank, and many people are buying its shares, especially after the rights issue.
Mr Mwaura explained to journalists from Business Daily that buying the shares was a retirement plan. He said, “I was interested in HF because it is a good bank with strong potential. The investment is a retirement plan for me and my family. We are almost retiring and we have to plan for the future.” His words show that this is a long-term investment, not a short-term venture.
This move by Mr Mwaura is not a surprise, considering his rich experience in finance. He was the chairman of Kenya Revenue Authority from 2015 to 2020. During his time there, Mr Mwaura drove many reforms in tax collection and digital transformation. His background in revenue and financial matters makes him a key person to watch in the future direction of HF Group.
HF Group, previously called Housing Finance Company of Kenya, provides mortgage financing, corporate banking, financial advisory services, and insurance products. The bank aims to help more Kenyans own their own homes. The government says there is a shortage of 2 million houses in Kenya and 250,000 new houses are needed each year. The bank wants to use the new capital from this investment to grow its mortgage portfolio and to help more people buy their own houses.
With Britam still holding 48 percent of the bank’s shares, the combined holdings of the top ten investors jumped from 58.31 percent in 2023 to 73.32 percent in 2025. This means a few people now control a large part of the bank. Some say this may help the bank make decisions faster. But it also means a small group can influence the future direction of the bank.
Some financial experts say this kind of large investment by a family is not unusual in Africa. Others say the bank will need to show strong profits to justify this large investment by Mr Mwaura and his family.
As the first half of 2025 results come in, investors will be paying close attention to whether HF Group can grow its profits, increase its mortgage portfolio, and use its new capital well. Will Mr Mwaura take a more active role in the bank’s future decisions? Will the bank perform strongly under its new large shareholder?
