The August regulatory filings at the Nairobi Securities Exchange (NSE) show that the Rajabalis, who bought 10 million shares in April, now hold a total of 21.1 million shares valued at Sh527 million.
This has effectively relegated billionaire investors Ramaben Patel (with 19.4 million shares worth Sh485 million) and John Kibunga Kimani (12.1 million units valued at Sh302 million) to second and third places respectively.
The Rajabalis’ accumulation of Safaricom shares, seen as a signal of their confidence in the telco’s future prospects, comes amid a major dip in the company’s share price, which now stands at Sh25 --- a 23.6 per cent drop from a high of Sh32.75 in April.
