Baloobhai Patel
Baloobhai Patel is a businessman and entrepreneur 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]
Baloobhai Patel | |
|---|---|
| Born | 1938 (age 82–83) |
| Nationality | Kenyan |
| Occupation | Businessman, entrepreneur |
| Years active | 1964–present |
| Title | Managing Director & CEO Transworld Safaris Limited |
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 is the largest non-institutional shareholder. He also maintains significant shareholding in Barclays Bank Kenya, Bamburi Cement, Carbacid Investments, Diamond Trust Bank Group, and Safaricom. 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-term, and 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]
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.