Kenya, a vibrant and dynamic country in East Africa, is home to a number of immensely successful individuals who have amassed great wealth through their entrepreneurial endeavors. In this article, we delve into the realm of affluence and explore the ten richest people in Kenya.
These individuals have made significant contributions to the country’s economy and have become household names through their various business ventures.
From industry moguls to influential philanthropists, their achievements are a testament to the wealth of opportunities available in Kenya’s thriving business landscape.
In this list of top 15, some are not individuals but rather a family whose total wealth is significant enough to rank among the top. The list has both politicians and private business people who have worked hard over time to become millionaires or even billionaires.
1. Moi Family
The family of the late President Daniel Moi is ranked first on the list of the wealthiest people in Kenya in 2023. Their $3 billion total fortune makes them unrivaled on the list of richest people. Additionally, the family holds interests in over eight different industries, including manufacturing, banking, and insurance.
Most of this money was gathered during the late Daniel Arap Moi’s 24 years as Kenya’s president. Not only is the family the wealthiest in all of East Africa, but also only in Kenya.
The Kenya Television Network, Vybezz Radio, Standard News Paper, Radio Maisha, and Spice FM are all owned by the Standard group, which they control in large part.
2. Manu Chandaria
With a total worth of around $1.7 billion, he ranks second among Kenya’s richest people. Kenyan businessman Manu Chandaria is of Indian descent. He is the CEO and chairman of Comcraft, a steel and aluminum company in Kenya. Products made of steel and aluminum are produced by the firm.
In 2015, it generated more than $2 billion in yearly sales, employing over 30,000 people on three continents, and was the largest steel producer in Africa.
Following his graduation from Jamnagar University in India, Manu Chandaria enrolled in the University of Oklahoma to study engineering.
3. Biwott Family
Total Man was a nickname for the late Biwott. Before his passing in 2017, he was one of the wealthiest people, but his family is still on the list.
Bitwot was a businessman, politician, and philanthropist who collaborated tirelessly with the late President Daniel Moi, who is the richest person in Kenya. He could be included among the richest since his employer taught him how to build wealth, which could explain why.
The National Milling Corporation, Premier Group of Companies, Barisim Investment, and Yaya Center are a few of the organizations and enterprises in which Biwott has been active.
The Biwott family has continued to manage his business and has remained among the wealthiest families in Kenya.
4. Mama Ngina Kenyatta
She is the mother of Kenya’s fourth president, Uhuru Kenyatta, and the wife of the country’s former president, Jomo Kenyatta. She is ranked number four on the list of the ten richest Kenyans. She is now the richest lady in east Africa with about USD 1b, and she has a sizable stake in real estate.
5. Bhimji Depar Shah
He serves as the chairman of the Bidco group of enterprises, a family-owned industrial company with operations throughout 13 nations in Africa. BIDCO Africa is the top producer of fast-moving consumer goods (FMCG) in East Africa.
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In addition to making soap, BIDCO also refines edible oils as part of its operations. Vimal, Bhimji’s son, is the business’s CEO. A $200 million industrial park was finished and opened by the BIDCO Africa company in 2019. The fifth-richest person in Kenya is Bhimji.
6. Naushad Merali
Naushad was a major stakeholder in Airtel telecommunications and was a member of the board before he sold his shares and stepped down from being a board member.
7. Uhuru Kenyatta
He has always had an easy life because he is a first-generation child. He saw his father serve as Kenya’s first president as a child, and this influenced his career in politics and business until he was elected as Kenya’s fourth president from 2013 to 2022.
He owns companies in a variety of industries, including banking, farming, hotels and tourism, insurance, and education.
8. The family of Chris Kirubi
He passed away on June 14, 2021. Kirubi continued to rank among the wealthiest persons in Kenya. He worked with Centum Investment as a director. He presided:
- Limited by DHL Express in Kenya
- Limited by Haco Industries in Kenya
- International Kiruna Limited
- Worldwide House Limited
- Johannesburg Bottlers Limited
- Northvik East
9. S K Macharia
Samuel Kamau Macharia, better known by his stage name SK Macharia, is a multi-millionaire businessman from Kenya. He holds a sizable part in the Royal Media Company, one of Kenya’s most prosperous businesses. He has over 350 billion dollars.
Macharia is also interested in other industries, including banking, real estate, and agriculture.
10. Atul Shah
He holds a significant amount of shares in Nakumatt Holdings Limited, a private corporation that operates the Nakumatt supermarket, which has locations in Kenya, Uganda, Tanzania, and Rwanda and employs more than 7,000 people worldwide. He is worth over USD 290b.
11. Peter Munga
Peter Munga is a Kenyan businessman and entrepreneur. He is the founder of Equity Bank, one of the largest banks in East Africa.
12. S. K. Macharia
Samuel Kamau Macharia is the founder and chairman of Royal Media Services, a leading media company in Kenya. His wealth primarily comes from his media empire.
13. Humphrey Kariuki
Humphrey Kariuki is a Kenyan businessman and the founder of the Janus Continental Group. His investments span various sectors, including manufacturing, real estate, and hospitality.
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14. Joshua Kulei
Joshua Kulei is a businessman and politician. He is associated with various businesses and has held influential positions in the Kenyan government.
15. Narendra Raval
Narendra Raval, also known as Guru, is the founder and chairman of Devki Group, a conglomerate with interests in steel, cement, and other sectors.
The list of the ten richest people in Kenya showcases the remarkable achievements of individuals who have achieved extraordinary success in various sectors.
These visionaries have not only created wealth for themselves but have also contributed to the development of Kenya’s economy, creating employment opportunities and driving innovation.
Through their entrepreneurial spirit and determination, they have left an indelible mark on the business landscape of the country. As Kenya continues to progress and evolve, these richest people serve as inspirations for future generations of entrepreneurs, highlighting the potential for success and prosperity in the nation.
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