Aga Khan IV's stake in Nairobi-based insurer Jubilee sees $1.7-million rebound

Timilehin Adejumobi -
Key Points
  • Aga Khan IV's stake in Jubilee Holdings rises by Ksh220.23 million ($1.7 million) following a 4.94% increase in share price.
  • His investment in Jubilee Holdings now valued at Ksh4.68 billion ($36.14 million), up from Ksh4.46 billion ($34.44 million) in 10 days.
  • Despite recent gains, Jubilee’s stock is down 8.11% year-to-date, reflecting a loss for investors since the start of 2024.

Shah Karim al-Husayni, known as the Aga Khan IV, has recorded a significant rebound in the market value of his stake in Nairobi-based insurer, Jubilee Holdings. This increase follows a recent upswing in the company’s shares on the Nairobi Securities Exchange (NSE).

Aga Khan IV, founder of Nation Media Group, East Africa’s largest independent media company, holds a 37.98 percent stake in Jubilee Holdings, equating to 27,528,739 shares, through The Aga Khan Fund for Economic Development.

His investment has grown by Ksh220.23 million ($1.7 million) over the past 10 days, further cementing his position as a key player in Kenya’s investment landscape. This marks a significant turnaround following a slump of $1.65 million between Oct. 15 and Nov 5.

Aga Khan's stake in Jubilee Holdings rebounds amid market rally

Jubilee Holdings, East Africa’s first insurer, is now the region's largest composite insurer, serving over 1.9 million clients across Kenya, Uganda, Tanzania, Burundi, and Mauritius.

Aga Khan IV’s growing investment underscores Jubilee’s appeal in East Africa’s insurance and investment sectors. The insurer’s total assets have reached Ksh254.5 billion ($1.97 billion).

Since Nov. 12, its share price has risen 4.94 percent, from Ksh162 ($1.25) to Ksh170 ($1.31), boosting its market capitalization to over $90 million.

This surge has increased Aga Khan’s stake by Ksh220.23 million ($1.7 million), raising its value from Ksh4.46 billion ($34.44 million) to Ksh4.68 billion ($36.14 million) in 10 days.

Your Money and Your Life

However, despite the recent uptick, Jubilee’s stock is still down 8.11% year-to-date. A $100,000 investment in the share price of the leading insurer at the start of the year would now be worth $91,890, reflecting a loss of $8,110.