Kenyan investor Baloobhai Patel has increased his holding in Absa Bank Kenya, buying shares worth about Ksh169.9 million ($1.32 million) over four months to December 2025.
This move reinforces his position as the lender’s top individual shareholder, with a total of 100 million shares, representing a 1.84 percent stake.
Patel’s buying spree reflects his confidence in the banking sector, particularly in Absa Bank Kenya, which has seen strong financial results.
The lender’s share price reached a record Ksh26.5 ($0.2) on January 6, and its net profit rose 14.7 percent to Ksh16.9 billion ($131 million) for the nine months to September 2025.
This isn’t an isolated move; Patel has been steadily accumulating shares in Absa Bank Kenya, mirroring a trend among senior executives and large investors increasing their exposure to lenders. Co-operative Bank CEO Gideon Muriuki also bought 5.5 million shares worth Ksh148.2 million ($1.2 million) in the seven months to December 2025.
Patel’s portfolio extends beyond Absa, with stakes in Bamburi Cement, Carbacid Investments, Safaricom, Sanlam Kenya, and CIC Insurance Group.
His investment strategy focuses on established companies with consistent earnings and shareholder returns.
