Aga Khan IV’s stake in Nairobi-based insurer nears $40 million

Yusuf Abdulfatai -

Shah Karim al-Husayni, also known as Aga Khan IV, has recorded a significant upswing in his stake in Jubilee Holdings, a leading Kenyan investment holding company and leading insurer. The surge in his fortune, attributed to the surge in the group’s share price, has propelled the market value of his stake close to the $40-million milestone.

Jubilee Holdings, founded as the first insurance company in Mombasa, has evolved into the leading insurance provider in East Africa. Serving more than 1.9 million clients, it holds the top spot as the largest composite insurer in the region, with significant operations in Kenya, Uganda, Tanzania, Burundi, and Mauritius.

Jubilee Holdings’ market capitalization tops $100 million amid 5.56-percent surge

Over the past 28 days, Jubilee Holdings shares traded on the Nairobi Security Exchange have surged by 5.56 percent. Beginning at Ksh180 ($1.33) on Feb 15, the shares climbed to Ksh 190 ($1.41) at the time of this report, driving the group’s market capitalization above $100 million and delivering substantial returns to its shareholders.

Through the Aga Khan Fund for Economic Development, Aga Khan IV maintains a substantial stake of 37.98 percent in Jubilee Holdings, equivalent to 27,494,108 ordinary shares, and holds an 11.85-percent interest in its Mauritian subsidiary. This positioning solidifies his status as one of Kenya’s prominent investors.

Jubilee shares propel Aga Khan IV’s investment

The recent surge in Jubilee shares has led to a notable increase in the market value of Aga Khan IV’s stake in the insurance group. From Ksh4.95 billion ($36.66 million) on Feb. 15, the value surged to Ksh5.22 billion ($38.70 million), marking an impressive increase of Ksh 274.94 million ($2.04 million).

As investors renew their interest in Jubilee Holdings on the Nairobi Security Exchange, Aga Khan IV’s strategic investment in the company continues to yield substantial gains, underscoring his significance in Kenya’s investment landscape.