Home » Richest investor on Nairobi Stock Exchange Aga Khan IV loses nearly $10 million since start of 2022

Richest investor on Nairobi Stock Exchange Aga Khan IV loses nearly $10 million since start of 2022

by Omokolade Ajayi

Shah Karim al-Husayni, also known as Aga Khan IV, has seen the market value of his interest in Kenyan investment holding company Jubilee Holdings Limited fall by about $10 million, as local bourse investors reduce their stakes in the firm.

Jubilee Holdings is a Kenyan investment holding company that underwrites non-life insurance risks such as death, disability, health, property and liability.

Aside from its principal business, the investment holding is involved in fund management and property investment, with active operations and investments in Kenya, Uganda, Tanzania, Burundi and Mauritius.

Aga Khan IV, well known for launching Nation Media Group, the largest independent media house in East and Central Africa, in 1959, owns a significant 37.98-percent ownership in the company through the Aga Khan Fund for Economic Development.

Data gathered by Billionaires.Africa revealed that the market value of his equity position has fallen by Ksh1.1 billion ($9.7 million) since the start of the year as investors on the Nairobi Stock Exchange trim down their stakes in the Kenyan investment holdings.

Jubilee Holdings shares were valued at Ksh276.75 ($2.429) per share as of press time on March 3, 36 basis points lower than their starting price on the local exchange this morning.

Since the year began, shares in the investment holding have fallen from Ksh316.75 ($2.78) on Jan. 1 to Ksh276.75 ($2.429), representing a loss of 12.6 percent to owners in less than two months.

As a consequence of the drop in Jubilee’s shares, the market value of Aga Khan IV’s interest has dropped from Ksh8.72 billion ($76.56 million) at the start of the year to Ksh7.61 billion ($66.89 million) at the time of writing.

Despite the recent drop in the market value of his share, Aga Khan IV remains the Nairobi Stock Exchange’s wealthiest investor, with a total portfolio worth more than $105 million divided between Jubilee Holdings, Diamond Trust Bank Kenya and Nation Media Group.

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