Kenyan tycoon John Kimani's stake rebounds above $22 million

Feyisayo Ajayi -
Key Points
  • John Kimani’s stake in Kakuzi Plc surged by $2.97 million, reaching $22 million, driven by a 15.42% rise in the company’s stock price.
  • Kakuzi's strong performance, driven by global demand for agricultural exports, has pushed its market capitalization to nearly $70 million.
  • A $100,000 investment in Kakuzi shares at the start of the year would now be worth $138,690, reflecting a 38.69% return.

John Kimani, a renowned Kenyan businessman and multimillionaire investor, has experienced a resurgence in his fortune, driven by the strong performance of Kakuzi Plc on the Nairobi Securities Exchange (NSE).

Kimani, who holds a 33.29-percent stake in the agricultural firm, has seen his shares in Kakuzi surpass $22 million, marking a gain of Ksh383.4 million ($2.97 million) in just eight days.

The surge follows a challenging period between Sept. 9 and 24, when Kakuzi’s share price dipped from Ksh420 ($42.6) to Ksh381 ($2.956), temporarily pulling the value of Kimani’s stake below $20 million.

However, a swift recovery has propelled Kakuzi's stock upward by 15.42 percent, with shares rising to Ksh439.75 ($3.412) as of Oct. 2.

Kakuzi's surge lifts John Kimani’s wealth

Kakuzi Plc, known for its premium agricultural exports, including avocados, macadamia nuts, and passion fruits, has also expanded into tea processing, livestock farming, and forestry.

The recent share rally has lifted its market capitalization to nearly $70 million, delivering strong returns to investors, including John Kimani. His significant stake signals confidence in the company's long-term growth as global demand for agricultural products rises.

John Kimani’s holdings have increased from Ksh2.49 billion ($19.27 million) on Sept. 24 to Ksh2.87 billion ($22.24 million), as the company’s shares rebounded significantly in just over a week. This recovery has recouped earlier losses, bolstering his wealth after a period of decline.

Your Money and Your Life

Since the start of 2024, Kakuzi's shares have returned a total gain of 14.2 percent, driven by rising demand for its products and favorable market conditions. This return increases to 38.69 percent after accounting for the appreciation of the Kenyan shilling against the U.S. dollar.

For foreign investors, the company’s stock has become a lucrative asset. A $100,000 investment in Kakuzi shares at the start of the year would now be worth $138,690, reflecting a profit of $38,690, a clear indicator of the potential in Kenya's agricultural sector.