Aga Khan IV, also known as Shah Karim al-Husayni, has witnessed a significant surge in the market value of his stake in Nation Media Group (NMG) since the start of the year.
According to data tracked by Billionaires.Africa, the market value of his stake in the media group has increased by Ksh398.26 million ($2.81 million) so far this year.
Aga Khan IV, also known as Mawlana Hazar Imam, founded NMG in 1959. He currently holds a 48.67 percent stake in Nairobi-based media conglomerate through The Aga Khan Fund for Economic Development.
Under Aga Khan IV’s leadership, NMG has grown into the largest independent media house in East and Central Africa. The company operates across various platforms, including print, broadcast, and digital, catering to audiences in Kenya, Uganda, Tanzania, and Rwanda.
NMG’s shares have experienced notable growth since the start of the year, with the company’s share price rising from Ksh15.80 ($0.1114) on Jan. 1 to Ksh20.10 ($0.1417) on July 18. This upward trajectory represents a gain of 27.2 percent for the company’s owners.
As a result of the latest bump in the company’s shares, the market value of Aga Khan IV’s stake has surged by Ksh398.26 billion ($2.81 million), rising from Ksh1.46 billion ($10.32 million) at the start of the year to Ksh1.86 billion ($13.13 million) at the time of writing.
The bump in the market value of Aga Khan IV’s stake in NMG reflects investors’ growing confidence and interest in the Kenyan equity market.
The consistent growth and expansion of NMG’s operations under Aga Khan IV’s stewardship have undoubtedly contributed to the company’s value and attractiveness to shareholders.