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Meet billionaire with Sh855M Co-op Bank shares; Here are 7 firms he has shares in

Baloobhai Patel is the 2nd largest individual investor in Co-op Bank and his additional Sh233million shares has taken his total stake in the bank to Sh855.2 million.

Billionaire Baloobhai Patel

Renowned Kenyan billionaire Baloobhai Patel has increased his stake in Co-operative Bank, acquiring an additional 20.5 million shares valued at Sh232 million.

This move has elevated Patel to the position of the second-largest individual investor in the bank, with a 1.29 percent ownership.

As reported by Business Daily, Patel's total shares in Co-operative Bank now amount to 7.6 million, valued at an impressive Sh855.2 million.

Co-op Bank's CEO Gideon Muriuki, retains the top position as the leading individual investor with a two percent stake.

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Baloobhai Patel, a prominent figure on the Nairobi Securities Exchange (NSE), has made headlines for his substantial investments in various key Kenyan companies.

In 2023, it was reported that his stakes in these companies collectively exceeded an impressive $24 million (Sh3 billion).

Among Patel's extensive investments are holdings in Carbacid Investments Plc, Absa Bank Kenya, Sanlam Kenya, and others.

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His strategic moves in the financial market have positioned him as one of the wealthiest and most influential investors in the country.

Investors and analysts keenly follow Patel's moves, considering his track record and impact on the financial market.

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  1. Williamson Tea: Patel holds a stake in Williamson Tea Kenya Plc, a subsidiary of Ngong Tea Holdings, engaged in tea cultivation, manufacturing, and sales both locally and internationally.
  2. Absa Bank Kenya: Previously known as Barclays Bank of Kenya Ltd, Absa Bank Kenya Plc is a financial services provider operating in consumer banking and corporate banking sectors.
  3. Bamburi Cement: Patel has interests in Bamburi Cement Plc, a company that produces and sells cement and related products in Kenya and Uganda.
  4. Sanlam Kenya Plc: Patel owns a substantial stake in Sanlam Kenya Plc, a key player in the Kenyan insurance market offering various insurance products and services.
  5. Aksaya Investment Holdings: Aksaya Investment Holdings directly controls Patel's equity positions in publicly traded companies.
  6. Carbacid Investments: Patel owns nearly half of Carbacid Investments, a company specializing in the production, processing, and sale of carbon dioxide gas for various industries.
  7. Co-operative Bank: Patel's latest venture includes shares in Co-operative Bank, one of Kenya's leading banks, with subsidiaries like Co-op Consultancy & Insurance Agency Limited, Co-optrust Investment Services Limited, and Kingdom Securities Limited.

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