DNK International By Our Correspondent,Nairobi
The official listing of Family Bank on the Nairobi Securities Exchange (NSE) on June 23, 2026, marked a defining moment in the life of its founder, Titus Kiondo Muya.
For the 83 year old entrepreneur, the milestone represented the culmination of a dream he had nurtured for more than six decades.
Family Bank traces its roots to 1984, when Muya established Family Finance Building Society, laying the foundation for what would become one of Kenya’s leading retail banks.
Popularly known as TK, Muya’s ambition to own a bank dates back to 1961, when he was just 19 years old.
Born in 1942 into a modest family, he grew up learning the values of hard work, discipline and resilience.
As a teenager, he developed a passion for reading international business magazines. One article, in particular, inspired him to dream of owning a bank.
However, higher education was beyond his reach after completing high school.
Instead, he joined the civil service as a clerical officer.
Despite his dedication and strong work ethic, opportunities for promotion remained limited because he lacked a university degree.
Rather than allowing the setback to discourage him, Muya used it as motivation to pursue his entrepreneurial ambitions.
In the early 1970’s, he began actively pursuing his vision of establishing a bank.
For four years, he made weekly visits to the Central Bank of Kenya (CBK) and the Treasury every Thursday, seeking a banking licence.
Each application was rejected.
He lacked capital, had no banking experience and possessed few influential connections.
Yet the repeated setbacks did not deter him.
Following advice from a friend, Muya shifted his focus from banking to establishing a building society.
In 1984, armed with just Sh500,000 in borrowed capital, he launched Family Finance Building Society in Nairobi.
The early years were challenging.
In a past interview with DNK-International,Muy a said that he spent considerable time studying how established financial institutions operated.
He identified an underserved market among ordinary Kenyans, including farmers, small-scale traders and individuals excluded from traditional banking services.
The society began offering school fees loans and wage payment services, products that resonated with its target market.
The strategy proved successful, enabling the institution to expand steadily into Kiambu, Gatundu and Githunguri.
For 23 years, Muya served as both chairman and chief executive officer, choosing to reinvest profits into the business rather than draw substantial personal rewards.
In 2007, Family Finance Building Society transformed into Family Bank, with Muya continuing to serve as Executive Chairman and CEO.
He has previously acknowledged that the dual role, though contrary to Central Bank of Kenya corporate governance guidelines, was necessary at the time because the institution was still facing financial challenges.
He eventually stepped down as chairman in 2012.
Over the years, Family Bank grew into one of Kenya’s leading mass market lenders.
By 2023, it had expanded to 96 branches across the country and served more than 1.8 million customers.
According to CBK data, the bank ranked as the country’s 14th largest lender and had the fourth largest branch network.
The bank also operated more than 6,000 banking agents and 75,000 merchants nationwide.
As of December 31, 2023, Family Bank had total assets valued at Sh142.4 billion and a deposit base of Sh102.6 billion.
Beyond banking, Muya built a diverse business empire.
In 1986, he founded Daykio Plantations Limited (DPL), a real estate company that acquires prime land, subdivides it into plots and develops residential and commercial properties.
The company has undertaken projects across Nairobi, Machakos, Kajiado and Kiambu counties.
One of its flagship developments is Daykio Plaza on Nairobi’s Ngong Road, a seven-storey commercial building that opened in 2014 and houses 53 office suites. Dykio Homes is another premier flagship project (a Gated community) along Kenyatta Road in gatundu in Kiambu County.
Muya has since handed over the management of DPL to his children.
The company’s board is chaired by his son, Mark Keriri, alongside directors Brian Kiondo, Kahaki Muindi and Anne Muya.
In 2004, he also founded Kenya Orient Insurance (KOI), offering both Life and General insurance policies.
Leadership of the insurance company has similarly been passed to the next generation, with his son Julius Muya serving as chairman of the board.
Muya’s contribution to entrepreneurship and financial inclusion has earned him national recognition.
In 2011, former President Mwai Kibaki conferred him the Elder of the Order of the Burning Spear (EBS), one of Kenya’s highest civilian honours.
The award recognized his significant contribution to the growth of the financial sector and his role in advancing the country’s economic development.
Today, as Family Bank enters a new chapter as a publicly listed company, Muya’s story stands as a testament to perseverance, vision and determination,from a young civil servant full of ambition to founding of one of Kenya’s most recognizable financial institutions.
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🗓️ [DNK-International@June 26,2026]
