Kenyan tycoon Jimnah Mbaru, the chairman of Dyer and Blair Investment Bank, has seen a significant increase in net worth over the past 37 days due to the recent surge in the market value of his stake in Britam Holdings, a Kenya-based diversified financial services group.
According to data tracked by Billionaires.Africa, the market value of the stake held by Mbaru in Britam Holdings has risen by Ksh 166.40 million ($1.28 million) since March 7, underscoring investors’ sustained interest in the group.
Britam market cap exceeds $110 million
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 share price on the Nairobi Securities Exchange has experienced a substantial increase in recent times, rising from Ksh4.48 ($0.035) on March 7 to Ksh5.76 ($0.04), translating to a remarkable 28.57-percent gain for shareholders and pushing the group’s market capitalization above $110 million.
Mbaru’s stake in Britam hits $5.77 million
Jimnah Mbaru, a non-executive director of Britam Holdings Ltd., holds a 5.15-percent stake in the company, comprising 130 million shares. Mbaru strategically sold 64.8 million shares in June 2023, realizing a profit on his investment.
Thanks to the surge in Britam shares, Jimnah Mbaru’s stake in the Kenya-based diversified financial services group is worth Ksh748.8 million ($5.77 million), up from Ksh582.4 million ($4.49 million) on March 7, an increase of Ksh166.4 million ($1.28 million).