We bring you the list of top 20 richest people in Kenya. According to the Cambridge Dictionary, a rich person is someone who has a lot of money or valuable possessions. In this article, we are going to list the top richest people in Kenya.
Kenya is the largest economy in East Africa with a GDP of US$70.539 billion (Source: World Fact Book) and has a number of rich people. However, according to Forbes magazine at the time of this writing, there is no 1 billion dollar billionaire in Kenya.
But the people listed in this article are known to be worth millions of dollars and have appeared on several lists of rich people in Kenya.
List of richest people in Kenya
These are the top 20 richest people in Kenya Summary (NOT IN ANY ORDER). Kindly scroll to the bottom for an ordered list according to their Net Worth:
- Bhimji Depar Shah
- Naushad Merali
- Manu Chandaria
- Chris Kirubi
- Atul Shah
- Uhuru Kenyatta
- Peter Kahara Munga
- S. K Macharia
- The late Nicholas Biwott
- Baloobhai Patel
- James Mwangi
- Raila Odinga
- Moi & Family
- Dr Titus Naikuni
- Bharat Thakrar
- Mama Ngina Kenyatta
- Jane Wanjiru Michuki
- Prof. Joseph Wanjui
- Duncan Ndegwa
- Pradeep Paunrana
There you have it, the list of 20 richest people in Kenya. In the next section, we are going to list them according to their Net worth. Net worth is the value of all the non-financial and financial assets owned by an individual minus the value of all his/her outstanding liabilities.
An individual’s Net worth or call it wealth refers to an individual’s net economic position, the value of the individual’s assets minus liabilities.
Examples of assets someone would factor into their net worth include retirement accounts, other investments, home(s), and vehicles. Liabilities include both secured debt (such as a home mortgage) and unsecured debt (such as consumer debt or personal loans).
Typically intangible assets such as educational degrees are not factored into net worth, even though such assets positively contribute to one’s overall financial position.
Top 20 richest people in Kenya by order
Moi and Family
This is one of the richest families in the country with an estimated net worth of $3 billion. They have several companies and have invested in almost every niche in Kenya. Moi’s wealth is hard to track owing to its diversity and secrecy but needless to say, at USD $3 billion he is one of the richest men in Kenya and beyond.
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At the time of his death, Biwott owned the prestigious Yaya Center, a landmark shopping centre in Nairobi. He also owned Air Kenya among other ventures. His business dealings were in total secrecy making it hard to determine his net worth.
However, the Nigerian Venture magazine placed Nicholas Biwott at $1 billion making him one of the richest men not only in Kenya but also in Africa.
Mama Ngina Kenyatta
Mama Ngina Kenyatta and former powerful Cabinet minister Nicholas Biwott are among those that have appeared in the list of Africa’s top billionaires through the Nigeria-based Ventures financial magazine.
They are among the 55 Africa’s dollar billionaires in a list that includes other two Kenyans, Naushad Merali and Manu Chandaria, whom the magazine tips as the wealthiest in the country and 25th richest on the continent with a fortune of $1.65 billion (Sh142 billion).
Mama Ngina, the mother of Kenya’s fourth President, Uhuru Kenyatta, with a net worth of $1 billion (Sh86 billion) spread in real estate, banking, and hospitality sectors. She is among the three women that made it to Africa’s billionaire club.
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Bhimji Depar Shah
He is the founder and current Chairman of BIDCO Group of Companies, a Kenya-based, family-owned manufacturing conglomerate with businesses in 13 African countries. He is listed as one of the wealthiest people in Kenya, with an estimated net worth of approximately US$700 million.
He is a businessman and an industrialist who is said to be the founder of Kenyan mobile service provider Kencell along with French media giant Vivendi. He schooled at the Highway Secondary School in Nairobi.
Naushad Merali chairs Sameer Group, a Kenyan conglomerate active in agriculture, construction, information technology, property, and finance.
He was formerly the chairman and largest individual shareholder of Bharti Airtel’s operations in Kenya, but in 2014 he sold his shares and stepped down from the company’s board. His net worth is valued at $550 Million USD
Uhuru Kenyatta is one of the most privileged people in Kenya who had never seen hardship in his life. Before becoming the president of Kenya, Uhuru Kenyatta was involved in managing his father’s wealth where he acquired his own in the process. He is one of the richest people in Kenya with a total net worth of US$500 million.
This is an individual with many attributes to his personality and business life, Kirubi is a businessman, industrialist, and philanthropist. He is the current chairman of Centum Investment Company Limited in which he is the largest individual shareholder. His net worth is over US$300 million. He is also the owner of the biggest mall in East and Central Africa known as Two Rivers Mall.
Manilal Premchand Chandaria is the owner of Comcraft Group of Companies that manufactures steel, plastic and aluminium products.
Comcraft operates in more than 11 African countries, Chandaria, is also into real estate business and his net worth is estimated at $270 million.
Must Read: Kenyan History
Atul Shah was Born in Nandi Hills, Kenya in 1961, grew up under harsh conditions. He is currently the Managing director and Chief Executive Officer of the Nakumatt Holdings.
The largest privately owned supermarket in Kenya, Uganda, Tanzania, and Rwanda which has in excess of 7,000 people in its paid list and with annual sales of well over US$650 million.
His net worth is in excess of $290 Million USD. However, His fortunes may be parachuting owing to the downward trend of Nakumatt over the last few years.
Peter Kahara Munga
Peter Munga is the group chairman of the Equity Bank Group, one of the largest on the African continent with a customer base of over 9.3 million. Munga’s net worth is in excess of $280 Million USD, making him of one the richest man in Kenya.
Raila Odinga is popularly known in Kenya as the father of Modern Democracy. His net worth is (US$250 million)
James Mwangi is a businessman, banker, and the current Group Managing Director and Group Chief Executive Officer of the Equity Group Holdings Limited. He and his wife also own shares in the stock of Equity Group Holdings Limited and British American Insurance Company Limited (Britam), making the family one of the wealthiest in Kenya. The family’s name is on marble with a net worth of upward US$170 million at a time.
13. S.K. Macharia Net Wort
S.K. Macharia is a businessman and media mogul, who owns numerous stations in both English, Kiswahili, and Vernacular that include Citizen TV, Kiss, Radio Jambo, Ramogi, Muuga, Chamgei, Inooro, Bahari and Wimwaro. These stations collectively make The Royal Media company which is one of the most successful media company in Kenya.
S.K has also tried his hand in Agriculture, Real estate, Transport, and Banking. His total net worth is estimated to be $150 million. He is, in fact, said to be an all-rounder as his investments are found in all major companies in Kenya.
Baloobhai Patel is a businessman, entrepreneur, and philanthropist in Kenya. His investments include the tour company Transworld Safaris Limited, which he fully owns and where he serves as the managing director.
He also serves as a non-executive director at Pan Africa Insurance, where he is the largest non-institutional shareholder. He also maintains significant shareholding in Barclays Bank Kenya, Bamburi Cement, Carbacid Investments, Diamond Trust Bank Group, and Safaricom. In July 2013, his holding in NSE-listed companies was valued at KSh2.4 billion
Titus Naikuni is a mechanical engineer, businessman and corporate executive in Kenya. He has made a fortune and managed to be on the list of the wealthiest individuals in Kenya. He has a net worth of $140 Million USD.
Joe Wanjui (Joseph Barrage Warui) is a businessman and a political advisor. He is the Chief Executive Officer of Unilever. He serves as the Chairman of UAP Holdings Limited and Jockey Club of Kenya. Valued at $125 Million USD, He is described by many as ‘a most accomplished individual
Bharat Thakrar is valued at $90 Million USD. Founder and CEO of Scangroup, East Africa’s largest marketing services, he is the largest shareholder in the company. He is valued to be US$$90 million in net worth.
Jane Wanjiru Michuki
She is a Kenyan Lawyer, Businesswoman and Investor. Jane Wanjiru is the managing partner at Kimani & Michuki Advocates, a corporate law firm based in Nairobi with vast clients all over the country. Her estimated net worth is US$60 million.
The asset valuation of Fina Bank (Kenya) is estimated to be approximately $171 million. The first African governor of the Central Bank of Kenya (CBK), Ndegwa also served as the first Kenyan African Head of the Civil Service. His exact net worth is not known but is sure to run into the millions of dollars.
Paunrana is valued at $80 Million USD. He was born in 1959 and educated in Kenyan schools. He spent two years with a software company in New York where he earns US$40,000 annually and returned to Kenya in late 1984 and teamed up with his father in his business which later became known as ARM Cement Limited, listed on the Nairobi Security Exchange (NSE).
Stay in touch as we bring you the net worth of each individual in the next post of the richest people in Kenya