Tanzanian Billionaires Buy 10 Million Shares In Safaricom

Posted by: lukwago J in Business June 11, 2018

Tanzanian tycoons Sajjad Rajabali and Aunali bought 10 million shares of Kenyan telecom giant, Safaricom approximately she295 million. This becomes the 3^rd largest individual investors in telecommunications sector.

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The investment for both of them was shown in the Nairobi security Exchange.

Rajabali is now ranked after another billionaire investor known as Kibunga John Kimani who’s currently having approximately 11.8 million shares equivalent Shs348 million, While Mr.Patel Ramaben is the top individual investor with 12.7 million shares worth Shs374 million.

The above Billionaires have been accumulating shares in Nairobi Stock Exchange listed firms the past 2 years with their investment increase of over Shs1.8 billion.

Rajabalis has taken notable stakes in Co-op Bank, Jubilee Holdings, Equity Group and I&M Holdings.

Why Safaricom?

Safaricom is the most powerful and profitable company in Kenya, it has dominated market in several telecommunications platforms such as Mobile money transfers, Voice and Mobile data.

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