Six prominent investors from Murang’a County hold a combined fortune of Ksh31.7 billion at the Nairobi Securities Exchange (NSE), ranking among the top shareholders in several blue-chip companies.
They are:-
[ul]
[li]Equity Group CEO Dr James Mwangi, [/li]
[li]Centum Investments Chairman Chris Kirubi, [/li]
[li]Equity Group Chairman Peter Munga, [/li]
[li]Dyer & Blair Chairman Jimnah Mbaru [/li]
[li]Director of Rural Development Services Dr John Kibunga Kimani.[/li][li]Dr Benson Wairegi of Britam[/li][/ul]
Of the six, Dr Mwangi is rated the richest in terms of his ownership in the public listed companies, with his holdings valued at Ksh9.2 billion.
He is the single largest individual investor in Equity Bank with a 4.88 per cent stake and is also ranked among the top shareholders of insurance group Britam where his ownership stands at 5.37 per cent.
Dr Mwangi has been a long-term investor in Equity and Britam which listed on the NSE in 2006 and 2011 respectively.
He has announced that he will continue to serve as Equity’s CEO for another ten years before stepping down. Over that period, he plans to help grow the bank into nine more countries.
Equity currently operates in the East African region in countries including Tanzania, Uganda and South Sudan.
The lender’s focus on the retail banking sector –which has highly underserved— has seen it grow to emerge as the second largest bank in the country by assets and profit.
This has benefitted long-term Shareholders such as Dr Mwangi.
Dr Mwangi is followed by Dr Chris Kirubi who has concentrated his investments in Centum where his 26 per cent interest is currently valued at Ksh8.8 billion.
He is the single largest owner in the company that has embarked aggressive expansion in the past three years, starting mega projects and acquiring several companies in diverse sectors.
Centum’s new and ongoing projects include the Lamu coal power plant and the Two Rivers Mall next to Runda whose first phase of construction is nearing completion.
Dr Kirubi has previously been a major shareholder in other NSE firms including KCB and Safaricom but he sold their shares, leaving his stock market portfolio concentrated in Centum.
Dr Kirubi has been buying more shares in the company, raising his equity from 24.99 per cent in September 2013.
The flamboyant businessman has announced that his ultimate goal is to further raise his ownership in the company to 29.9 per cent in the short term.
Centum has been the most active compared to other companies in the investment sector such as Transcentury, Olympia Capital and the new entrant Kurwitu Ventures which is yet to start its planned sharia-compliant ventures.
Centum’s recent acquisitions include that of K-Rep Bank, adding to its portfolio of companies such as General Motors East Africa, Almasi Beverages (a Coca-Cola bottling company) and Longhorn Publishers.
Mr Peter Munga is third with his 17 per cent stake in Britam and 0.4 per cent stake in Equity currently standing at a market value of Ksh5.9 billion.
The investor was among the founders of Equity Group and has been among the top beneficiaries of its growth that has seen him sell shares worth billions of Shillings since the bank’s listing, cutting his ownership to the current level.
Investment banker Jimnah Mbaru is fourth deriving his Ksh3.1 billion from the 10.2 per cent stake he holds in Britam.
Mr Mbaru has also concentrated his NSE interests in the insurer, having sold his shares in Transcentury where he was a founder and a significant shareholder. Besides Britam, he also holds a minority 0.09 per cent equity in Uchumi Supermarkets.
John Kibunga Kimani is fifth with an assortment of stocks holdings currently worth an estimated Ksh2.8 billion.
He is a significant shareholder in Total Kenya, East African Breweries, Nation Media Group and agricultural firm Kakuzi with which he a special connection.
Dr Kimani was born in the Kakuzi Estates as a squatter in the 1940s. He however managed to get a good education that allowed him to work as a professional for many years, mostly as an agriculturalist.
Over the decades, he built his wealth including through the purchase of shares that saw him become a billionaire.
Dr Kimani is no longer a squatter, having acquired substantial land parcels of land in the Kakuzi/Kirimiri area.
These include a 126-acre block in the area that he was to sell to another party in 2013 for some Ksh205.3 million, according to court documents.
Dr Kimani has been steadily buying more shares in Kakuzi, with his ownership in the company now at 26 per cent.
The investor has notified the Capital Markets Authority –the regulator of listed companies— that he intends to raise his ownership in the agricultural firm to 29 per cent.
Dr Benson Wairegi of Britam is sixth with Ksh1.9 billion spread across his 5.1 per cent stake in the insurer and 0.25 per cent stake in Equity Group.
His stocks portfolio mirrors that of Dr Mwangi and Mr Munga, underlining the long investment association the three have had across the banking and insurance sectors.
The share ownership of the six Murang’a investors is based on their direct interests. Some of them could be holding more shares at the NSE through special investment vehicles.
The county has one of the highest stock market billionaires who are also among Kenya’s richest citizens.
Their combined stock market wealth topped Ksh40 billion at the end of last year before declining to the current Ksh31.7 billion as share prices of most listed companies witnessed a correction that could turn into a bear run.
Both the NSE 20 Index and the NSE All share Index have lost more than 10 per cent since the start of the year, with further stock market plunge feared as more companies report losses and reduced profitability.
While these investors made a large part of their wealth from investing in the listed companies, they are actively diversifying into other sectors including real estate, education, manufacturing and agriculture.
Mr Munga, for instance, has invested heavily in manufacturing and education where he runs institutions including the Pioneer International University (PIU).
Some of the investors have also stepped up their philanthropic activities, setting aside millions of shilling to champion causes like education and economic empowerment.
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