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Kenyan businessman John Kimani’s stake in Kakuzi Plc has increased in value by more than $2.2 million since the start of the year, as shares in the Kenya-based agro-allied company have increased by more than 10 percent.
The recent increase in the market value of his Kakuzi shareholding, which accounts for a significant 32.3-percentage interest in the company and a total of 6,330,699 shares, can be attributed to a 10.4-percent increase in the firm’s stock price on the Nairobi Stock Exchange.
As of March 30, the agro-allied company’s shares were worth Ksh425 ($3.7) per share, giving the company a Ksh8.33-billion ($72.4 million) valuation on the local bourse.
Kakuzi’s stock price has risen since the beginning of the year, from Ksh385 ($3.35) on Jan. 1 to Ksh425 ($3.7) at the time of writing.
The uptick in the company’s shares translates to a 10.4-percent gain for shareholders, as investors maintain their buying interest in the company’s shares despite earnings falling below $3 million in 2021.
The market value of Kimani’s stake in the firm increased by Ksh253.23 million ($2.2 million) as a result of the year-to-date increase in the stock price, from Ksh2.44 billion ($21.2 million) at the start of the year to Ksh2.7 billion ($23.4 million) at the time of writing this report.
With stakes worth more than $20 million in Kakuzi, the recent increase in the market value of Kimani’s interest in the agro-allied company cements his position as one of the wealthiest investors on the local bourse.
Aside from his shareholding in Kakuzi, the multimillionaire businessman owns a 2.99-percent stake in Nation Media Group worth Ksh124 million ($1.1 million) and a 1.24-percent stake in Centum Investments worth Ksh116 million ($1 million).
