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Kenya’s wealthy Merali family has recorded a substantial increase in the market value of their equity stake in Sasini Tea in recent times, driven by a notable rise in the share price of the agribusiness company on the Nairobi Security Exchange (NSE).
According to data tracked by Billionaires.Africa, the market value of the stake held by the Merali family in Sasini Tea has risen by Ksh244.84 million ($1.87 million) since March 15, underscoring investors’ sustained interest in the group.
Sasini Tea: Merali family’s multimillion-dollar bet on Kenya’s agribusiness dominance
Sasini Tea, a renowned Kenyan agribusiness firm, operates across the country cultivating and processing tea, coffee, avocado, and macadamia nuts. The company also focuses on value-added production for both domestic and international markets.
Its commitment to quality, sustainable practices, and strategic growth initiatives positions Sasini Tea as a leader in Kenya’s agribusiness sector. The company continues to deliver value to its stakeholders while contributing positively to the environment and community.
The multimillionaire Merali family holds a controlling stake of 65.46 percent in Sasini Tea, representing 168,856,800 ordinary shares in the group, currently valued at $25.78 million.
Sasini shares rise on Nairobi bourse, boosting Merali family’s stake
Over the past 15 days, Sasini shares on the Nairobi Securities Exchange have surged 7.82 percent. The securities of the prominent agricultural group are currently trading at Ksh20 ($0.1527), up from Ksh18.55 ($0.1416) on March 12.
Data tracked by Billionaire.Africa shows that this rise in share price has translated into a Ksh244.84 million ($1.87 million) increase in the market value of the Merali family’s stake in Sasini over the past two weeks.
The valuation of their holding has climbed from Ksh3.13 billion ($23.91 million) on March 12th to Ksh3.38 billion ($25.78 million) at the time of writing.
This uptick not only strengthens the Merali family’s position as a major investor on the NSE, but also underscores their status as one of Kenya’s wealthiest families.
