Patel is one of the largest investors on the Nairobi Stock Exchange with a portfolio that has a current value exceeding $24 …
Baloobhai Patel
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- East Africa
Absa Kenya linked to Kenyan tycoon Baloobhai Patel secures $50-million loan from parent firm
Patel, who is known for his investments in various sectors, holds a significant stake in Absa Bank Kenya.
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Patel’s stake in Absa Bank Kenya has risen from 42.5 million shares to 47.5 million shares.
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This comes shortly after Patel transferred his 4.12-percent stake in Bamburi Cement to Aksaya, his private investment office.
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In 2022, Patel acquired an additional 7.9 million shares worth $2.52 million in Bamburi Cement.
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Patel has solidified his position as a major player in the Kenyan financial sector with his latest acquisition.
- Hot News
Kenyan tycoon Baloobhai Patel’s Carbacid smashes expectations with $3.2-million profit in 2022
Patel owns a 49.9-percent stake in Carbacid Investments Limited.
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Bank linked to Kenyan businessman, Baloobhai Patel to pay couple $1.9 million for fraudulent shares sale
Patel owns one percent of Absa Bank Kenya, a subsidiary of Absa Group Limited of South Africa.
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Patel is a leading Kenyan tycoon and serial investor.
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The successful businessman also has stakes in Williamson Tea Kenya, Diamond Trust Bank Group, and Safaricom.