Kenyan investment banker Jimnah Mbaru has reaped substantial gains from his equity stake in Britam Holdings, a diversified financial services group listed on the Nairobi Stock Exchange.
In just 74 days, Mbaru’s stake increased by Ksh146.9 million ($1.03 million), buoyed by a surge in the group’s share price between May 8 and July 21, thanks to sustained buying interest on the Nairobi bourse.
Britam Holdings boasts an extensive presence in the region, with active operations through its subsidiaries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
Its market capitalization currently stands at Ksh13.1 billion ($92.3 million), securing its position as the 18th most valuable company listed on the Nairobi Securities Exchange.
As a non-executive director on Britam Holdings’ board, Mbaru holds a beneficial stake of 130,000,000 shares in the company after strategically selling off 64.8 million in Britam Holdings, capitalizing on the increased share value.
Since May 8, the share price of the financial services group has increased from Ksh 4.05 ($0.0285) per share to Ksh5.18 ($0.0365) per share at the time of writing, reflecting a gain of 27.9 percent for shareholders during the 74 days.
As a result of the recent bump in the company’s shares, the market value of Jimnah Mbaru’s stake in Britam Holdings has increased from Ksh 526.5 million ($3.7 million) on May 8 to Ksh 673.4 million ($4.7 million) on July 21, representing a gain of Ksh 146.9 million ($1.03 million) for the Kenyan investor.
Mbaru’s remarkable business acumen has cemented his status as one of the wealthiest investors on the Nairobi Securities Exchange and one of Kenya’s most successful businessmen.
