Tanzanian billionaires Aunali and Sajjad Rajabali have bought 30.2 million shares Kenol Kobil.
The shares, equal to a 2.06 per cent stake are worth an estimated Sh. 378 million. The billionaires are now ranked as the 9th biggest shareholders in Kenol Kobil.
The investment comes hot on the heels of a similar buy by the two billionaires who purchased 22.9 million Co-operative Bank shares in December last year.
The Rajabalis have now invested a total of nearly Sh. 700 million in Co-op Bank and Kenol.
The two NSE-listed firms have been on an upward profit trajectory.
In Tanzania, the two billionaires are ranked as the top individual investors in Tanzania’s largest lender CRDB Bank Plc with a 4.1 per cent stake.