Kenyan media tycoon John Kimani has experienced a noteworthy increase in the market value of his holdings in Kakuzi Plc, an agricultural cultivation and manufacturing company based in Kenya. This growth is due to the ongoing upward trend of the company’s shares, which are seeing renewed buying interest on the Nairobi Securities Exchange (NSE).
According to data tracked by Billionaires.Africa, Kimani, one of Kenya’s wealthiest investors and businessmen, has seen the market value of his stake in Kakuzi rise by Ksh202.86 million ($1.611 million) since the beginning of the year, thanks to the year-to-date increase in the company’s share price.
Kakuzi is an NSE-listed agricultural cultivation enterprise. It is well-known for producing high-quality horticultural products such as avocados, macadamia nuts, and passion fruits. It also processes and sells tea, cattle, and commercial forestry.
Kimani owns 34.54 percent of Kakuzi, or 6,762,133 ordinary shares, in the agricultural cultivation and manufacturing company.
In addition to his stake in the agricultural company, the leading Kenyan businessman owns a stake in Centum Investments, Kenya’s largest investment firm, as well as a stake in Nation Media Group.
The company’s shares on the Nairobi Securities Exchange have increased by nearly eight percent since the start of the year, from Ksh385 ($3.058) on January 1 to Ksh415 ($415) on Feb. 21, accruing gains totaling millions of dollars for investors such as John Kimani.
As a result of the single-digit uptick in the company’s share price, Kimani has seen the market value of his 34.54-percent stake in Kakuzi increase by Ksh202.86 million ($1.611 million) from Ksh2.6 billion ($20.68 million) at the start of the year to Ksh2.81 billion ($22.3 million) at the time of drafting this report.
The $1.6-million bump in the market value of his stake in Kakuzi Plc cements his status as not only the richest man on the NSE but as one of the wealthiest men in Kenya.