Tripti Joshi (Editor)

Baloobhai Patel

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Full Name
  
Baloobhai Patel

Role
  
Businessman

Name
  
Baloobhai Patel


Years active
  
1964–present

Nationality
  
Kenyan

Home town
  
Nairobi

Born
  
1938 (age 76–77)
Kenya

Occupation
  
Businessman & Entrepreneur, Philanthropist

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.

Contents

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).

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.

Philanthropy

He gives generously and regularly to his two favorite charities; the Lions Club and Pandya Memorial Hospital, based in Mombasa.

References

Baloobhai Patel Wikipedia