Aga Khan IV gains nearly $8 million from shares in Nairobi-based insurer
Aside from his interest in Jubilee Holdings, Aga Khan IV, also known as Mawlana Hazar Imam, owns a 48.67-percent stake in Nation Media Group.
Kenya
Firm owned by Kenya’s Merali family to settle debts with $6.3-million land sale proceeds
The Merali family, overseeing the estate of the late tycoon Naushad Merali, commands a 74-percent stake in Sameer Africa.
Billionaire Michael Lee-Chin-linked fund faces stunning $7-million loss
Lee-Chin is the founder of Portland Private Equity, the private equity fund company in charge of Portland JSX Limited.
Kenya’s Biwott family sells Yaya Center in multimillion-dollar deal
The late Nicholas Biwott was part of a generation of public servants who ventured into various businesses, impacting Kenya’s economy.
Kanye West’s Yeezy sneakers return for second sale amid high demand
In May, Adidas announced its decision to sell off the inventory of Yeezy sneakers created in partnership with West.
Kenyan tycoon Suresh Bhagwanji Shah gains $1.1 million in 19 days
This $1.13-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.
Kenyan tycoon Edward Kirathe’s property firm to raise $10.5 million from investors
Established in 2001 by Kirathe, Acorn Holdings Africa has completed over 65 projects during its two-decade tenure.
Billionaire banker James Mwangi appointed as Kenya’s virtual university chancellor
Under Mwangi, Equity Group achieved record-breaking profits of $350 million at the end of the 2022 fiscal year.
Kenyan tycoon Baloobhai Patel acquires 2.5 million shares in Absa Kenya
At the current market price, Patel’s stake in Absa Kenya is estimated to be worth $4.31 million.
Kenyan real estate mogul Edward Kirathe’s Acorn to transfer $24.8 million worth of properties to I-REITs
Kirathe, a top figure in Kenya’s real estate sector, boasts an extensive 25-year experience in the East African real estate domain.
Million-dollar estate owned by Kenyan tycoon David Langat pulled from auction at the last minute
Langat built his fortune through import and export ventures and diversified into agribusiness, real estate, energy, hospitality and insurance.
Kenya’s Merali family suffers $4.8 million loss in 18 days
Despite the recent downturn in Sasini’s share price, the Kenyan Merali family remains one of the wealthiest families in the country.
Kenyan firm tied to Chris Kirubi’s heirs rakes in $3.7 million from Eurobond trade
Centum Investment, controlled by the family of the late tycoon, diversified its investment portfolio by buying $11.5 million.
Led by Kenya’s richest families, NCBA plans to expand with ten new branches in Kenya
NCBA Group, a leading financial services conglomerate, is partially owned by some of Kenya’s richest families, Kenyatta, Merali, and Ndegwa families.
Centum, linked to Chris Kirubi’s heirs, acquires 4.64 million shares under share buyback program
The late Kirubi, a prominent Kenyan tycoon and serial investor, owned a 31-percent stake in Centum Investments before his passing in 2021 at 80.
Kenya’s Mukuha family-owned Naivas to open two new branches within a month
Naivas International was established in 1990 by the late Kenyan tycoon Peter Mukuha Kago.