Top 10 Richest Men in Kenya by Net Worth

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Today I will list some of the richest men in Kenya. Kenya is among the top economies in East and Central Africa. Find a list some of the wealthier Kenyans in no particular order.

List of Richest Men in Kenya

Here are the top 10 richest men in Kenya; the list is not in any particular order.

  1. Peter Munga
  2. Dr James Mwangi
  3. Chris Kirubi
  4. SK Macharia
  5. Moi’s Family
  6. John Harun Mwau
  7. Baloobhai Patel
  8. Peter Muthoka
  9. Naushad Merali
  10. Bhimji Depar Shah

1. Peter Munga

Peter Munga is the founding father of Equity Bank Limited. Equity bank group has a client base of 9.3 Million. He has various investments in different sectors in the economy. For instance, he holds 26.8 per cent of Britam shares. Moreover, he also owns shares worth 9 million with British Investment Company and 3 million in shares with Equity bank.

Despite him retiring from Equity bank management, he holds various positions in different companies. For instance:

  • He is an independent non-executive director of HF Group Plc
  • Mr Munga is the Chairman of Nut processors Kenya
  • Chairman of Freshco International Ltd

In overall, his net worth is estimated to be around the US $400.

2. Dr James Mwangi

Dr James Mwangi joined Equity bank back in the day when he was only 31 years old. Over the years he has won various awards and accolades such as:

  • African Banker of the year in 2018
  • CEO of the year in 2017
  • Banker of the year in East Africa in 2017

In terms of his investments, he owns 3.45% in Equity bank. Just like Peter, James Mwangi also has some of his finances at Britam. Other sources also indicate that he has invested in the hospitality industry and owns a leading 5-star hotel. Over the years he has been able to grow his wealth to around 187.5 Million Kenyan Shillings.

3. Chris Kirubi

Chris Kirubi is a Kenyan industrialist, entrepreneur, businessman, and philanthropist. He is the largest individual shareholder at Centum investments which is a business conglomerate.

Away from this, Chris Kirubi serves as a chairman at DHL express Kenya Limited, International house Limited, Nairobi bottlers limited, Sandvik East African Limited among other companies. Centum investment stocks are listed on both the Nairobi stock exchange and Ugandan securities limited.

His net worth as at today is at last year US $ 300 Million.

4. SK Macharia

Sk Macharia is a media mogul and a businessman in Kenya. He owns various radio and television stations all over the country, such as Citizen Tv, Kiss Fm, Radio Jambo, Bahari, Wimwaro among others.

Apart from this, SK Macharia has also diversified his investment into the agricultural, transport, banking and retail sector. Moreover, he has investments in almost all the major companies in Kenya. His net worth is around USD 150 Million.

5. Daniel Moi & Family

Moi is one of the four presidents of the Republic of Kenya. Moi his family control vast resources in various sectors such as agriculture, real estate, and manufacturing. Therefore, Moi cannot miss out on the list of wealthiest men in Kenya. Away from his investments in Kenya, Moi and his sons also have offshore investments. It’s, however, worth to note that, it’s tough to disclose Moi’s wealth because of the secrecy adopted by the family.

6. John Harun Mwau

John Harun Mwau’s name cannot miss on the list of the wealthiest men in Kenya. This renowned billionaire owns various companies in Kenya, such as:

  • Harun International Limited
  • Sheltown Limited
  • Mwundo Limited
  • Vitu limited

Additionally, he has also invested in shares with different companies across the world. He also has not been left aside in spending in real estates in Kenya, just like the other millionaires.

7. Baloobhai Patel

Source: Business Daily Africa

 

Baloobhai Patel is the managing director of Transworld Safari’s Limited. He among the wealthiest men in Kenya as of today. Apart from managing Transworld Safari’s limited, he owns the company still. He is a non-executive director of Pan Africa insurance.

Moreover, he also has significant shareholding with Bamburi cement, Diamond Trust Bank Group, as well as Safaricom. His initial investment is mainly on blue-chip stocks that pay dividends regularly. His shares in publicly listed Kenyan companies alone are worth over $45 million.

8. Peter Muthoka

Mr Peter Muthoka is the founder and CEO of Acceler Global Logistics, one of Kenya’s most significant freight and logistics companies which plans, implements and operates complex supply chain solutions on a national, regional and global scale on behalf of several large international companies in Kenya. The company’s annual revenue is more than $50 million (Ksh5 Billion).

Peter Muthoka is among the top ten largest Safaricom Investors which one of the top ten telecommunication companies in Africa.

9. Naushad Merali

Naushad Merali is the chairperson of Sameer group Kenya. Sameer Group is a conglomerate that is active in property, information technology, agriculture, technology, and estate. Before 2014, he was the largest shareholder of Bharti Airtel operations before stepping down and selling his shares.

Mr Naushad is not just a wealthy man; he has a foundation that gives back to the most unfortunate in the society. This foundation is known as Zarina and Naushad Merali foundation.

Moreover, its worth to note that his source of wealth is highly diversified. In 2015 he was ranked by Forbes Africa Magazine as the 48th richest person in the world.

10. Bhimji Depar Shah

Bhimji Depar is the founder of Bidco industries in Kenya in 1970. The company started manufacturing garments, but in 1991, it began producing oil. Today, the company provides a wide range of products to cater to the demand for its consumers. Bidco Kenya has a gross annual income of about $300 million which grows each year.

The company’s products are marketed in 13 different African countries and explaining how it can have an annual turnover in hundreds of Millions.

Mr Bhimji is a self-made Million who has worked tirelessly.

Richest Men in Kenya Conclusion

Most of the men mentioned above have worked tirelessly to do their business at the top as they are. It is, therefore, worth to note that nobody is born with a silver platter on their mouth. The Kenya of today requires us to work tirelessly day by day to achieve our dreams.

Please make sure to read the list of Top 20 Richest People in Kenya and our list of richest women in Kenya

Good Luck as we strive to appear on the next list of the richest men in Kenya.

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