Kenyan entrepreneur John Kimani has boosted his stake in Centum Investment Company, securing him the position of the third-largest shareholder in the East African investment firm. His move comes as shares remain attractively priced on the Nairobi Securities Exchange.
According to recent regulatory filings, Kimani, one of Kenya’s most affluent individuals and a key player in East Africa’s business arena, acquired an additional 10.8 million shares of Centum Investment Company Plc, valued at Ksh90.7 million ($0.57 million).
The transaction, disclosed in recently published regulatory filings, underscores Kimani’s confidence in Centum, a leading East African investment firm. Kimani’s stake in the company surged from 34.6 million shares in March 2023 to an impressive 45.5 million shares by December 2023.
Kimani’s March-December acquisition spree elevates Centum position, trails Kirubi’s estate
His strategic acquisition between March and December 2023, has caused his stake in Centum to rise from 5.21 percent to 6.84 percent, positioning Kimani as the third-largest shareholder, trailing behind the estate of the late businessman Chris Kirubi and the state-owned Kenya Development Corporation.
This strategic acquisition follows closely on the heels of reports detailing Kimani’s expanded footprint in the African telecom sector. Notably, he augmented his stake in Safaricom Plc, East Africa’s largest telecom service provider.
With a total of 27.7 million shares valued at $2.23 million, Kimani now stands as the second-largest individual shareholder in Safaricom, reinforcing his influence in the telecom giant’s operations.
From Centum to Kakuzi: Unraveling Kimani’s multifaceted investment triumph
Kimani’s strategic moves in the investment arena reaffirm his position among Kenya’s wealthiest individuals. His adept navigation of the market and expansion into key sectors showcase his commitment to growing his investment empire while contributing to the development of East Africa’s business landscape.
Beyond his stakes in Centum and Safaricom, Kimani boasts a diverse investment portfolio, including substantial interests in Kakuzi and Nation Media. Kimani, with a significant 34.54-percent ownership of Kakuzi, plays a pivotal role in the agricultural cultivation and manufacturing company, holding 6,762,133 ordinary shares.
