So far this year, 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 is due to the surge in the company’s shares, which are seeing renewed buying interest on the Nairobi Securities Exchange (NSE).
According to data tracked by Billionaires.Africa, John Kimani, one of Kenya’s wealthiest investors and businessmen, has seen the market value of his stake in Kakuzi rise by Ksh223.15 million ($1.581 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 NSE have increased by over eight percent since the start of the year, from Ksh385 ($2.729) on Jan. 1 to Ksh418 ($2.962) on July 11, 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 Ksh223.15 million ($1.581 million) from Ksh2.6 billion ($18.45 million) at the start of the year to Ksh2.83 billion ($20.03 million) at the time of drafting this report.
The nearly $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.