Chris Kirubi’s heirs suffer $1.44-million loss from stake in Kenya’s largest listed investment firm
Robert Kirubi and Mary-Ann Musangi, the heirs of the late Kenyan businessman and investor Chris Kirubi, have experienced a significant decline in the market value of their stake in Centum Investment, Kenya’s largest listed investment firm.
Data tracked by Billionaires.Africa reveals that the market value of their stake has fallen by $1.44 million over the past 18 days due to profit-booking activities among investors who hold shares in the company.
Centum Investment has established itself as a leading investment firm in East Africa. It has a robust investment strategy focused on real estate and private equity assets in various sectors, including consumer goods, finance, agribusiness, and power.
The company has consistently delivered value to its shareholders, a legacy that continued until the demise of Kirubi in 2021.
Kirubi, who held a substantial 31-percent stake in Centum Investment before his passing, was a prominent Kenyan businessman and prolific investor.
His stake in Centum is now jointly owned by his son, Robert Kirubi, and daughter, Mary-Ann Musangi, who inherited 80 percent of his wealth, which included holdings in KCB Group, Haco Industries, Bendor Estate Limited, and other businesses.
As of the time of drafting this report, Centum shares on the Nairobi Securities Exchange were trading at Ksh8.04 ($0.058), 1.23 percent lower than their opening price on the local bourse this morning.
Since April 27, Centum shares have declined by 10.67 percent from Ksh9 ($0.066) to Ksh8.04 ($0.058), pushing the group’s market capitalization further below Ksh5.5 billion ($40 million).
The recent decline in the company’s shares has led to a decrease in the market value of the stake held by Robert Kirubi and Mary-Ann Musangi.
The value of their stake has dropped by Ksh197.67 million ($1.44 million) from Ksh1.85 billion ($13.52 million) on April 27 to Ksh1.65 billion ($12.07 million) at the time of drafting this report.