Nairobi, Jan. 29 -- Billionaire John Kibunga Kimani raised his stake in telco giant Safaricom by 8.64 million shares to 27.7 million units in the six months to December 2023, joining investors who have taken advantage of the stock's lower price to add to their holdings.

The additional shares are valued at Sh113.12 million, going by the company's closing price of Sh13.10 a share on Friday.

The company's shareholder register for December shows Dr Kimani's additional stake cemented his position as the telco's second-largest East African individual shareholder. His stake is only surpassed by the 40.41 million units held jointly by Chirag Menesh Solanki and Kalavati Menesh Solanki, who cut their holding by 131,000 units between June and Dece...