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.
Patel is the founder of
, one of the oldest safari companies in Kenya. Transworld Safaris owns and operates a large fleet of custom-built safari minibuses, 4-wheel drive vehicles and hot air balloons. Patel founded the company more than 30 years ago, and over time he has carefully reinvested his profits into a string of companies listed on the Nairobi Stock Exchange. Patel is renowned to be one of the richest stockholders in Kenya’s capital markets. He owns stakes in the following publicly listed companies: Pan African Insurance, Bamburi Cement, carbon dioxide manufacturer Carbacid and commercial banks Diamond Trust Bank and Barclays Bank Kenya. His shares in publicly listed Kenyan companies alone are worth over $45 million.
||1938 (age 82–83)
Mathare, Nairobi, Kenya
||Managing Director & CEO
Transworld Safaris Limited
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).
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.
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