Baloobhai Patel
| Baloobhai Patel | |
|---|---|
| Born |
Baloobhai Patel 1938 (age 76–77) Kenya |
| Nationality | Kenyan |
| Occupation | Businessman & Entrepreneur, Philanthropist |
| Years active | 1964–present |
| Home town | Nairobi |
| Title |
Managing Director & CEO Transworld Safaris Limited |
Baloobhai Patel is a businessman, entrepreneur, and philanthropist in Kenya, the largest economy in the East African Community. He is the current Managing Director of Transworld Safaris Limited, a company that he owns. He also owns minority stakes in a number of publicly listed companies at the Nairobi Securities Exchange (NSE). He is reported to be one of Kenya's wealthiest citizens.[1]
Investment portfolio
His investments include the tour company "Transworld Safaris Limited", which he fully owns and where he serves as the Managing Director. He also serves as a non-Executive Director at Pan Africa Insurance, where he s the largest, non-institutional shareholder. He also maintains significant shareholding in Barclays Bank Kenya, Bamburi Cement, Carbacid Investments, Diamond Trust Bank Group, and Safaricom, among others. In July 2013, his holding in NSE-listed companies was valued at KSh2.4 billion (approx. US$27.5 million).[2]
Investment philosophy
In keeping with many high-net-worth investors at the NSE, Baloobhai Patel invests primarily in blue chip stocks that pay regular dividends and have a tradition of steady appreciation in stock price. He rarely liquidates his stakes in these companies. He invests for the long haul, occasionally invests more when the price temporarily falls. He is also diversified across many sectors of the economy, including manufacturing, banking, insurance, telecommunications and construction.[3]
Philanthropy
He gives generously and regularly to is two most favorite charities; the Lions Club and "Pandya Memorial Hospital", based in Mombasa.
See also
- Indian diaspora in East Africa
- List of African millionaires
- List of wealthiest people in Kenya
References
- ↑ Maina, Wangui (12 December 2013). "Who Are Kenya's Wealthiest?". Business Daily Africa (Nairobi). Retrieved 18 October 2014.
- ↑ Juma, Victor (4 July 2013). "The Rise And Rise of Kenya’s Silent Billionaires At Nairobi Securities Exchange". Business Daily Africa (Nairobi). Retrieved 18 October 2014.
- ↑ Juma, Victor (8 December 2013). "Big Investors Reap Billions From A Bullish Stock Market". Business Daily Africa (Nairobi). Retrieved 18 October 2014.