Aga Khan IV's investment in Nairobi’s Jubilee Holdings gains $3.4 million

Feyisayo Ajayi -
Key Points
  • Aga Khan IV's stake in Jubilee Holdings surged by Ksh440.46 million ($3.41 million) after a 10.3% rise in the insurer's share price.
  • Aga Khan IV controls 37.98% of Jubilee Holdings through the Aga Khan Fund for Economic Development, totaling 27.53 million shares.
  • Despite recent gains, Jubilee Holdings' shares are down 7.57% year-to-date, with a $100,000 investment now worth $92,430.

Shah Karim al-Husayni, also known as Aga Khan IV, has experienced a surge in the value of his stake in Nairobi-based insurer, Jubilee Holdings thanks to the recent upswing in the company’s shares on the Nairobi Securities Exchange (NSE), boosting the market worth of his stake.

Through the Aga Khan Fund for Economic Development, Aga Khan IV controls 37.98 percent of Jubilee Holdings, equating to 27.53 million shares of the leading insurer. Over the past 29 days, the value of his stake has risen by Ksh440.46 million($3.41 million).

This follows an earlier loss of Ksh474.87 million ($3.52 million) between April 16 and 26 when his holdings dropped from Ksh5.51 billion ($40.78 million) to Ksh5.03 billion ($37.27 million).

Jubilee shares surge increases Aga Khan IV’s portfolio by millions

Founded in Mombasa as the region’s first insurer, Jubilee Holdings has grown into East Africa’s leading insurer. 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.

Over the past month, Jubilee Holdings’ shares on the NSE have increased by 10.3 percent, from Ksh155 ($1.2) on Sept. 16 to Ksh171 ($1.32), propelling its market cap above $90 million and delivering robust returns to shareholders. 

As a result of the impressive share price surge, Aga Khan’s stake in Jubilee Holdings has risen from Ksh4.27 billion ($33.04 million) on Sept. 16 to Ksh4.71 billion ($36.45 million), adding Ksh440.46 million ($3.41 million). The gain reinforces his position as a leading investor in Kenya’s financial sector.

Your Money and Your Life

Although Jubilee Holdings' share price recently saw a bump, it remains down 7.57 percent year-to-date. An investment of $100,000 in the leading insurer’s shares at the start of the year would now be worth $92,430, reflecting a loss of $7,570.