Patel’s latest acquisition reflects a significant year-on-year increase in his Absa holdings. In December 2022, he held 47.57 million shares (0.88-percent stake).
"Baloobhai Patel"
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- Hot News
Bamburi Cement, backed by Kenyan tycoon Baloobhai Patel, to distribute $15 million to shareholder
The proposed dividend payout represents a notable increase from the previous dividend of Ksh0.75 ($0.00563) per share, amounting to Ksh272 million ($2 …
- East Africa
Kenyan tycoon Baloobhai Patel’s Bamburi Cement expects $2.57 million in savings with solar plants
Patel, a Kenyan multimillionaire and owner of a 4.12-percent stake in Bamburi Cement through his private investment company, Aksaya Investment.
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Kenyan billionaire Baloobhai Patel boosts stake in Co-op Bank with $1.43-million investment
This further solidifies Patel’s commitment to Co-op Bank, as he navigates the challenging market conditions marked by a bear run that has …
- East Africa
Kenyan tycoon Baloobhai Patel-linked cement firm clears 60 percent of $2-million tax debt
Bamburi Cement, a prominent East African cement firm partly owned by Kenyan industrialist Baloobhai Patel, has settled 60 percent of its tax …
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Patel holds a total of 50.06 million shares in Absa Bank Kenya, equivalent to a 0.92-percent stake.
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Patel, a Kenyan multimillionaire with diverse investment interests, owns a 4.12-percent stake in Bamburi Cement.
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At the current market price, Patel’s stake in Absa Kenya is estimated to be worth $4.31 million.
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In a bid to ensure a strong legacy for his family’s wealth and investments, Patel has initiated a comprehensive restructuring process to …
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Patel is one of the largest investors on the Nairobi Stock Exchange with a portfolio that has a current value exceeding $24 …