Lead image for SportPesa’s Paul Ndung'u Gains KSh 1.5Bn From Car & General Rally in One Year.
Car & General PLC's extraordinary one-year rally has turned long-term shareholders into some of the biggest winners on the NSE, with the stock surging from KSh 26.40 to a record KSh 260 as the company moved from recovery to record profitability.
- The 884.8% rally has created substantial paper wealth across a concentrated shareholder register.
- C&G’s top 10 shareholders controlled 88.14% of the company at December 2025, while Fincom Limited, Betrin Limited, Monyaka Investments and Primaco Limited together held 70.04%. Fincom’s 32.5% stake alone is valued at about KSh 6.78Bn at KSh 260.
- Veteran investor Paul Wanderi Ndungu’s 8% stake has consequently risen in market value from about KSh 169.5Mn to KSh 1.67 Billion.
Ndung'u, the largest identifiable individual shareholder among the top 10, owns 6.42Mn shares. Assuming his position has remained unchanged, the one-year increase in its market value is approximately KSh 1.50Bn.
From Recovery to Record Profits
The re-rating has accompanied a sharp turnaround in C&G’s underlying businesses. After falling into a KSh 273Mn loss in FY2023, the group returned to profitability in FY2024 before profit accelerated through 2025.
That momentum strengthened further in the six months to June 2026. Revenue increased 30% to KSh 15.64Bn, while gross profit rose 39.5% to KSh 2.96Bn. EBITDA more than doubled to KSh 3.56Bn, while profit before tax climbed 281.5% to KSh 2.88Bn and profit after tax surged 308.8% to a record KSh 2.60Bn. EPS increased to KSh 32.26 from KSh 7.93.
The operating recovery extended across East Africa. Sales increased 40% in Kenya, 35% in Uganda and 22% in Tanzania, while Kenya motorcycle volumes averaged 12,000 units monthly from 7,000 in 2025. Management said exchange-rate stability had provided greater control over margins.