KenyaWealth Creators

Aga Khan gains $4.5 million from Jubilee Holdings to emerge among NSE richest investors

Shah Karim al-Husayni (Aga Khan IV) has seen the market value of his stake in Jubilee Holdings, increase by millions of dollars following a recent surge in the company’s shares on the Nairobi Securities Exchange.

Aga Khan IV’s stake in Jubilee Holdings has increased by Ksh.666.73 million ($4.54 million) over the past 18 days as investors on the Nairobi Securities Exchange (NSE) increased their stakes in Jubilee Holdings.

Between August 8 and 31, this year, the market value of his stake in the group dipped by $3 million due to sell-offs, according to Billionaire Africa data

But the tide turned, with the shares of Jubilee Holdings increasing by double digits, leading to a rebound in the market value of Aga Khan IV’s stake.

Jubilee Holdings is a Kenyan investment holding company and leading insurer that underwrites non-life insurance risks such as death, disability, health, property, and liability. It maintains active operations and investments in Kenya, Uganda, Tanzania, Burundi, and Mauritius.

Since Aug. 31, the share price of Jubilee Holdings has increased from Ksh.175.25 ($1.192) on Aug. 31 to Ksh.199.50 ($1.357), returning a gain of 13.84 percent to its shareholders, including Aga Khan IV, who owns a significant stake in the leading investment holding company.

As a result of the increase in Jubilee’s shares, the market value of Aga Khan IV’s interest in the leading insurer has surged by Ksh.666.73 million ($4.54million), rising from Ksh.4.82 billion ($32.78 million) on August 31 to Ksh.5.49 billion ($37.32 million) at the time of writing.

This remarkable increase in the market value of his share further solidifies Aga Khan IV’s position as the richest investor on the Nairobi Securities Exchange.

Shah Karim al-Husayni, also known as Aga Khan IV, is best known for founding Nation Media Group, East Africa’s largest independent media organization.

Through the Aga Khan Fund for Economic Development, Aga Khan IV owns 37.98 percent, or 27,494,108 ordinary shares, of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.

Lawrence Baraza

Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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