Research shows that 10 richest people in Kenya control almost half of the country’s net wealth. In 2018, the wealth list reveals that individuals who have held powerful positions in government rank as the richest humans in the country. Below is the fixture of each individual’s net worth and assets they control.
- KENYATTA FAMILY
Kenyatta Family ranks among the richest families in Africa.The family has produced two president, Kenyatta Senior and the current Kenyan president Uhuru Kenyatta. In about 60 years, this family has managed to accumulate a total of Ksh 130 billion.
Kenyatta family controls the media industry, they recently acquired Nation Media Group. They also control the milk industry and own a huge stake in the banking industry.
If you’re wondering which companies contribute to what is currently under their name, here is a comprehensive list:
- Tourism~ the multibillion world class hotel chain known as Heritage Hotels
- Banking~ CBA A regional bank with an Asset base of 75.4 billion
- Insurance ~ Chartis formerly AIG with a market share of 5%
- Dairy~ Brookside and Spin Knit
- Education ~ Peponi schools, an international chain of schools that charge an AVERAGE OF 620,000/= per term per child for Borders
- Farming~ Large scale coffee, tea and Sisal farming concerns, own farms in Central, Rift Valley and coast regions
- Media ~ Mediamax Group, owns K24 TV, the people Newspaper, Kameme Fm, Meru Fm and Milele Fm,Nation Media Group
- Enke limited ~ holding company with interests in an assortment of sectors that include Prime and Real Estate
- Timber & manufacturing ~ Timsales Holdings, A timber processing and constructing firm.
- 10, 000 acre Gichea Farm in Gatundu.
- 5, 000 acres in Thika.
- 9,000 acres in Kasarani Mwiki
- 5, 000-acre Muthaita Farm.
- 24, 000 acres in Taveta
- 50, 000 acres in Taita,
- 29, 000 acres in Kahawa Sukari along the Nairobi—Thika highway stretching all the way to Kilimambogo Hills in Ukambani.
- 10, 000-acre ranch in Naivasha.,
- 52,000-acre farm in Nakuru
- 20,000-acre one, also known as Gichea Farm,
- 10, 000 acres in Rumuruti,
- 40,000 acres in Endebes in the Rift Valley Province
- Brookside Farm, Green Lee Estate,Njagu Farm in Juja, a quarry in Dandora in Nairobi
- Great Rift Valley Lodge, Naivasha
- Tented Camps
- Mara Explorer
- Mara Intrepids
- Samburu Intrepids
- Voyager Ziwani
- Beach Hotels
- Kipungani Explorer
- Voyager Beach Resort
- MOI FAMILY
Former President Daniel Moi was the president of Kenya for 24 years.While at the helm, the 93-year-old managed to amass wealth in the tune of Ksh100 billion.Upon retirement,he distributed most of his assets to his family members.The family now owns the following companies:
- Sunshine National School
- Kabarak University
- Kabarak High School
- Standard Media Group
- Transnational Bank
- Kiptagich Tea Estate
- Kent Ship
- Sielei Properties Ltd
- Giant Forex Bureau
- Revak Ltd
- Giant Holdings
- Sudbury Ltd
- Westfield International
- Metipso Services Ltd
- Properties in London and South Africa
- Mugoya Construction
- Asian Roses
- First Force Security Company
- Equity Stock Brokers
- Safariland Club
- Taurino Enterprises
- Regent Management
- Paradise Holdings
- Gateway Properties
- Hahuru Investors
- Sheraton Holdings
- Concord Holdings
- Ectar Kenya Ltd
- Tiger Farm Ltd
- MANU CHANDARIA
Manu Chandaria comes third with an estimated net worth in excess of Ksh 120 billion.The Kenyan-born is the Chairman of Comcraft Group, a multinational industrial conglomerate employing more than 40,000 people across 45 countries on four continents. His group of companies has an annual turnover of slightly above Ksh2.5 billion.
- NICHOLAS BIWOTT
The fourth richest man in Kenya is Nicholas Biwott,popularly known as Total Man.During Moi era,Biwott was his right hand man .He used his influence to amass wealth which is now estimated at Ksh 80 billion.Among the list of companies registered under his name include:
- Kipsinende Farm
- Rono Ltd
- National Milling Corporation – One of the biggest shareholder
- HZ Group of Companies
- LZ Engineering
- Premier Group of Companies
- HZ Construction and Engineering
- Air Kenya Aviation Ltd
- Pete Aviation and Electronics Ltd
- Ziba Management & Services
- HZ Group of Companies, Israel
- Lima Kenya
- Air Kenya
- Safaricom Kenya – Major Shareholder
- Uhuru Highway Development Real Estate company
- A 10,000 hectare ranch in Australia
- Trinity Enterprises
- Banque Belgolaise
- Team Simoco
- Kenoil-Kobil – (National chain of petrol stations) – Biwott controlled 17% of private oil industry in Kenya.
- Petrol Stations in Uganda – Operated through Kenol-Kobil (worth KSh7 billion)
- Westmont-An independent power producer company owned by Biwott and Harbinder Sethi Singh.
- Grand Diani Reef Hotel- Once placed under statutory receiver when hotel defaulted on KSh500 million loan acquired from Kenya Commercial Bank (KCB)
- Regional Air – Had a code-sharing arrangement with British Airways.
- H Young and Company Steel manufacturers – one of largest in East Africa
- R Telecommunications Co. Ltd – Receives contracts from government-owned telecommunications monopoly company, Telkom Kenya
- Lima Ltd – One of the best-established agricultural machinery firms in Kenya. Owned jointly with powerful politicians and their families
- First American Bank – Major shareholder
- Pan African Bank -Major share holder
- Middle East Bank – Major share holder
- Top Civil Engineering Companies to Work for in Kenya
- Trans-National Bank – Major Share holder
- Residential properties in various parts of the country
- Barsirim Investment
- Yaya Centre (worth KSh 3.5 billion)
- SK MACHARIA
SK Macharia also ranks among the wolfs of Nairobi. The Royal Media Services founder and Chairman is among 10 Kenyans with assets in the north of Ksh50 billion.
Royal Media Services,is the back bone of SK Macharia’s assets.The company earns him over Ksh 5 billion annually.
Mr. Macharia has investments in Agriculture, Real Estate, Transport, Banking and Telecommunication. In fact, he is worth over Ksh 70 billion.
- CHRIS KIRUBI
Chris Kirubi is a business mogul, who is described as Warren Buffet of Kenya.
- Haco Tiger Brands
- Major Share Holder of Centum Investment
- He Owns Capital FM
- He Owns International House, which is at the heart of Nairobi CBD
- He Has shares in UAP Insurance
- He owns DHL
- He is a shareholder in Nairobi Bottlers
- He is among few Kenyans who own Mercedes Maybach
- He owns a Ksh300 million home in Runda
- He is a major shareholder of Two Rivers Mall
- He is a major shareholder of KPLC
- He owns shares in Kenya Airways
Chris Kirubi’s assets keep on growing and currently stand at Ksh 65 billion.
That sums up the list of wealthiest individuals in Kenya.But there is one person to watch, that’s Deputy President William Ruto.In a span of 6 years,Ruto has purchased or built several companies.Until 2018,here is a list of companies under his name:
- Uasin Gishu Residence – estimated cost Ksh. 1.2 Billion.
- 680 Hotel (Sixeighty Hotel) – estimated cost Ksh. 3 Billion.
- Weston Hotel – estimated worth over Ksh. 2.5 Billion.
- Oseng Properties Limited estimated at Ksh. 1Billion.
- Orterter Enterprises Limited estimated at Ksh. 2.5 Billion.
- Residential Property along Jogoo road Nairobi estimated at Ksh. 1.5 Billion.
- Major Amaco Insurance shareholder at Ksh. 1 Billion.
- Osere flats in Rongai estimated at Ksh. 500 Million.
- Karen Home said to be worth millions recently renovated at a cost of Ksh. 500Million.
- Poultry Business at Turbo home estimated at Ksh. 750 Million.
- K24 which he acquired from Kenyatta family about a year ago
- A chopper worth Ksh 300 million