Aga Khan IV, also known as Shah Karim al-Husayni, has seen a significant rise in the value of his stake in Jubilee Holdings. The insurance company’s stock price jumped almost 10 percent on the Nairobi Securities Exchange, boosting the market worth of his stake.
According to data tracked by Billionaires.Africa, Aga Khan IV’s investment in Jubilee Holdings has gained Ksh481.15 million ($3.63 million) since March 19, highlighting sustained investor interest in the leading insurance provider.
Jubilee Holdings’ shares jump 9.72 percent, market cap exceeds $100 million
Founded in Mombasa as the region’s first insurer, Jubilee Holdings has grown into East Africa’s leading insurance provider. With more than 1.9 million clients, it is the largest composite insurer in the region, boasting operations across Kenya, Uganda, Tanzania, Burundi, and Mauritius.
The Aga Khan Fund for Economic Development holds a substantial 37.98-percent stake (27,494,108 shares) in Jubilee Holdings, solidifying Aga Khan IV’s position as a leading Kenyan investor. The Fund also holds an 11.85 percent interest in Jubilee’s Mauritian subsidiary.
Jubilee Holdings’ share price on the Nairobi Securities Exchange has surged 9.72 percent since March 19, climbing from Ksh180 ($1.358) to Ksh197.50 ($1.489). This strong performance has pushed the group’s market capitalization above $100 million.
Aga Khan IV’s wealth soars: Jubilee shares boost stake by $3.63 million in 10 days
The recent uptrend in Jubilee shares has boosted the market value of Aga Khan’s stake in the insurer by Ksh481.15 million ($3.63 million) over the past 10 days, climbing from Ksh4.95 billion ($37.32 million) on Mar. 19 to Ksh5.43 billion ($40.95 million).
As Jubilee Holdings continues to expand its footprint in the East African insurance and investment landscape, Aga Khan IV’s investment stands as a testament to the company’s enduring appeal among regional investors.
