Sanlam Kenya shareholders approve $25.1 million rights issue to boost capital
This move aligns with the company’s broader strategy to improve its financial standing and long-term stability.
Baloobhai Patel
Bamburi Cement, linked to Kenyan tycoon Baloobhai Patel, receives new $193.7-million offer
Savannah Clinker has proposed purchasing all 362.9 million shares of Bamburi at Ksh70 ($0.54) per share.
Absa Bank, linked to Kenyan tycoon Baloobhai Patel, posts $42 million profit in Q1 2024
Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
Kenyan billionaire Baloobhai Patel buys big, now owns more than 1 percent of Absa Bank
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).
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 million).
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.
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 undervalued many banking stocks.
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 debt