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Key Points
- Jimnah Mbaru's stake in Britam Holdings gained Ksh118.3 million ($1.77 million) in 2024, driven by a strong performance on the NSE.
- Britam's market capitalization surpassed $110 million in 2024, reflecting a 43.71% rise in share value adjusted for currency fluctuations.
- Mbaru’s investment in Britam increased from Ksh635.7 million ($4.06 million) to Ksh754 million ($5.83 million), marking a $1.77 million gain.
Kenyan tycoon Jimnah Mbaru, the chairman of Dyer and Blair Investment Bank, has seen a substantial portfolio gain in 2024, primarily driven by a significant surge in the market value of his stake in Britam Holdings, a Kenya-based diversified financial services group.
As a non-executive director of Britam, Mbaru holds a 5.15-percent stake in the company, amounting to 130 million shares. Since the start of the year, his investment has gained Ksh118.3 million ($1.77 million), benefiting from the strong performance on the Nairobi Securities Exchange (NSE).
Britam market cap surpasses $110 million
Britam Holdings, which has a wide regional presence, operates through subsidiaries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi. Its share price on the Nairobi Securities Exchange has surged in 2024, climbing from Ksh4.89 on January 1 to Ksh5.8, reflecting an 18.61-percent increase in local currency.
However, the appreciation of the Kenyan Shilling—gaining 21.17 percent against the US dollar—has further amplified this growth in dollar terms. Adjusted for currency fluctuations, Britam’s shares have risen from $0.0378 to $0.0449, marking a remarkable 43.71 percent gain. This surge has boosted the company’s market capitalization to over $110 million, increasing shareholder value.
Mbaru’s Britam stake rises $1.77 million
For Mbaru, this rise in Britam's share price has translated into a substantial increase in the value of his stake, which has grown from Ksh635.7 million ($4.06 million) to Ksh754 million ($5.83 million), resulting in a Ksh118.3 million ($1.77 million) gain.
Britam’s performance in 2024 shows a 43.71 percent increase in investment value, driven by a strong Kenyan Shilling. For example, a $100,000 investment in Britam at the start of the year would now be worth $146,476, yielding a gain of $46,476.
