Dr. John Kibunga Kimani, one of Kenya’s most prominent investors, has significantly increased his stake in East Africa’s leading telecommunications operator, Safaricom.
According to the company’s December 2023 shareholder register, Kimani acquired an additional 8.64 million shares, bringing his total holding to 27.7 million units. This strategic move solidifies his position as the second-largest individual shareholder from East Africa in the company, behind only the Solanki family.
Kimani’s investment decision stands out against the backdrop of a recent bear market that saw Safaricom’s share price plummet by 24% since April 2023.
While many investors chose to tread cautiously, Kimani adopted a contrarian approach, recognizing the long-term potential of the company even amidst temporary fluctuations. This move aligns with his established reputation for discerning investments across diverse sectors, from media and communications to agriculture and financial services.
Beyond the headline-grabbing Safaricom deal, Kimani’s portfolio boasts impressive depth and diversification.
He holds significant stakes in Kenyan blue-chip companies like Kakuzi Plc, a leading agricultural enterprise, and his listed equities portfolio in 2017 alone had an estimated market value exceeding Ksh2.8 billion.
Furthermore, Kimani’s success across diverse sectors underlines the inherent economic diversification of Kenya. His ventures spanning agriculture, finance, media, and telecommunications paint a picture of a dynamic economy with untapped potential, ripe for further investment and expansion.
At the peak of the NSE bull run in 2015, this figure reportedly soared to Ksh4 billion, showcasing the sheer scale and dynamism of his investments.
