Kenyan billionaire John Kimani has made an impressive comeback after facing earlier losses this year, with his holdings in Kakuzi Plc, an agricultural cultivation and manufacturing company, increasing by millions of dollars in the past 45 days.
Kimani, known for his diverse investment portfolio, has seen the market value of his stake in Kakuzi rise by Ksh515.61 million ($3.7 million), solidifying his position as one of the wealthiest investors on the Nairobi Securities Exchange.
Data tracked by Billionaires.Africa reveals that Kimani owns a 34.54-percent stake, equivalent to 6,762,133 shares, in Kakuzi Plc.
Between Jan. 1 and April 25, his stake suffered a slump of $3.2 million. However, in the last 45 days, the market value of his stake has surged by $3.7 million, offsetting the earlier losses.
In the past 45 days, Kakuzi’s share price has risen by 23.9 percent, climbing from Ksh319.35 ($2.29) to Ksh395.5 ($2.84) at the time of writing. This surge has pushed the company’s market capitalization above Ksh7.7 billion ($55 million).
As a result, Kimani’s stake in Kakuzi has soared from Ksh2.16 billion ($15.5 million) 45 days ago to Ksh2.67 billion ($19.2 million) today, marking a remarkable increase of Ksh515.61 million ($3.7 million).
Kakuzi Plc is renowned for its exceptional production of horticultural products, including avocados, macadamia nuts, and passion fruits.
Additionally, the company engages in the processing and sale of tea, cattle, and commercial forestry. Its strong performance and reputation have undoubtedly contributed to the recent upswing in share prices.
Apart from his Kakuzi stake, John Kimani’s investment interests extend to Centum Investments, Kenya’s largest investment firm, and Nation Media Group, a prominent media company in East Africa.
These investments, combined with his holdings in Kakuzi, solidify Kimani’s position as one of Kenya’s leading business people.