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TOP TEN RICHEST MEN IN KENYA 2020

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Who are the top ten richest men in Kenya?

Kenya is the largest economy in east Africa, with a GDP of US$70.539 billion.In a report by Knight Frank released in March 2020, Kenya has 42 ultra-high net worth individuals, worth over US$30 million each. Which is equivalent to KSh 3.07 billion. The country has been ranked fourth in the knight frank wealth report list of the African states ‘ultra-rich.

An individual’s Net worth or call it wealth refers to an individual’s net economic position, the value of the individuals 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 home and mortgage] and unsecured debt (such as consumer debt or personal loans).

In the next section we are going to list the wealthiest people in Kenya according to their net worth.. The list will only have billionaires who attain a certain threshold.

  1. Vimal Shah.

An Indian National based in Kenya. He Is the founder and current chairman of BIDCO group of companies, a Kenyan based family owned manufacturing conglomerate with businesses in 13 African countries. He is one of the leading and wealthiest individuals in Kenya with an estimated Net worth of US$700 Million. His company produces edible oils, fats, soaps, and detergents, animal feeds, margarine foods, and beverages. It is based in thika and also has operations in central and southern Africa, The Company has manufacturing factories in Kenya Uganda and Tanzania.

  1. NAUSHAD MERALI.

He is the chairman of the Sameer group of companies, a business conglomerate based in Nairobi, it is worth $600 million [60bilion]. Aged 68 his business empire comprises of 15 companies operating in Kenya and the rest of Africa for example

  • Sasini Tea and coffee
  • Sameer Africa Limited [manufacture of tyres]
  • Kenya Data Networks Limited.
  • Savannah coffee lounge.
  • Equatorial commercial bank to name but a few.
  1. CHRIS KIRUBI.

He is an individual with Many Attributes to his personality and business life, he is a businessman, industrialist and a philanthropist.  Popularly referred to as DJ CK’.  Kirubi is the current chairman of Centum Investment Company Limited, which is the largest individual shareholder. His Net worth is over US$400 million {KSH 40 billion]. He is also the owner of the biggest mall in east and central Africa popularly known as two rivers mall. He is also the owner of capital media group and has a huge stake in haco tiger brands

  1. PRESIDENT UHURU KENYATTA.

He is valued at 48 billion shillings with investments cutting across almost all sectors of the Kenyan economy he also owns vast tracks of land too.

  1. MANU CHANDARIA.

He is the owner of the 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 estimated at $270 Million [27 billion] this is the equivalent of money allocated for paying all MPs and running parliament for one year including providing allowances and other benefits the legislators enjoy. Manu Chandaria is a Kenyan businessman, industrialist, and philanthropist of Indian descent. His company, Comcraft Kenya Ltd operates in Tanzania, Ethiopia, and Uganda. Comcraft generates annual revenues of more than Ksh200 billion. His massive wealth base has given him a spot among Kenya’s riches.

  1. PETER MUNGA.

He is the group chairman of equity bank group, one of the largest on the African continent with a customer base of over 9.3 million. Manga’s net worth is more than USD 280 Million, making him one of the richest man in Kenya. The Group also has operations in Uganda, Rwanda, South Sudan, Tanzania, and DRC. The company generates annual revenues in excess of Ksh19.5 billion. EGHL also controls assets worth an estimated KSh530 billion. .

  1. JAMES MWANGI.

He is popularly known as Jimmy the Equity bank CEO. He is a businessman, banker and the current managing director and CEO to equity group holdings limited, James Mwangi and the wife also own shares in the equity holdings limited as well as British American insurance company [Britam] Making him one of the wealthiest in Kenya. The family name is on marble with a net worth of US$170 million [KSH 17 billion]. Equity bank also donated ksh300 million towards the purchase of personal protective equipment to medical staff dealing with the COVID-19 pandemic.

  1. JIMNAH MBARU.

Another popular name in Kenya. Jimnah Mbaru, aged 65, is a successful business man into investment banking, worth $48 million (Ksh4.8 billion). He is the owner and Chairman of Dyer and Blair Investment Bank, which he acquired from KCB in 1983, the bank according to statistics is the leading investment firm in Kenya with branches in Uganda and Rwanda. It has over $300 million (Ksh30 billion) in assets under management. Other interest’s arear where he has stakes are Equity Bank and Tran’s century Group among others.

  1. SK MACHARIA.

A Renowned business man in the communication industry, He is the group CEO of the largest private television and radio network in Kenya and East Africa, He has a net worth of $150 million shillings. Some of his famous brands include. Citizen TV, Inooro TV, Radio citizen hot 96 amongst many others.

  1. KIPROP BUNDOTICH [BUZEKI]

Aged 42 years and also known as Buzeki has a net worth of $30 million. His income is largely dependent on milk dairy, transport which is all self-made.

Founder and group executive director of Buzeki group of companies. His Buzeki Dairy Limited in 2008 made Tuzo and Molo milk brands largely enjoyed by Kenyans, as a strategic businessman, in 2013 Bundotich sold his Buzeki dairy business to Brookside dairies for 1.5 billion shillings.

In the transport industry Buzeki group is a well registered company in the transport and logistics industries worth billions of shillings.

Presently the group has the following list of companies.

  • Buzeki Enterprises limited.
  • Bunoil Limited [fuel and oil dealership].
  • Trans truckers logistics group limited [cement distribution].
  • Buzeki insurance limited.
  • Buzeki fleet management limited.
  • Koima motors limited to name but a few.

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