It is no secret that Kenya is home to some of the richest people in Africa. But who exactly are the wealthiest Kenyan citizens and what is their net worth?
In this blog post, we will take a look at the top 10 richest people in Kenya, according to their latest estimated net worth. We will also briefly explore how they made their money and where they rank amongst the richest people in Africa as a whole.
So without further ado, here are the 10 wealthiest people in Kenya:
The Richest People in Kenya – The Top 10
1. Manu Chandaria
Manu Chandaria is the chairman and founder of the Comcraft Group, a conglomerate with interests in manufacturing, agriculture, energy, real estate, and healthcare. He is Kenya’s richest person, with a net worth of $2.4 billion. Chandaria was born in India and moved to Kenya in 1952. He started his business career as a scrap metal dealer and then went on to establish several successful companies.
The Comcraft Group now employs over 30,000 people and has an annual turnover of $1.5 billion. Chandaria is a philanthropist and has donated millions of dollars to charitable causes. He has also served as the Kenyan ambassador to Japan and is a recipient of the Order of the Rising Sun, one of Japan’s highest civilian honors.
2. Narendra Raval
Narendra Raval is a Kenyan billionaire businessman. He is the chairman and CEO of the steel company Gupta Family Group. He has an estimated net worth of $1.1 billion as of February 2021.
Raval was born in Kenya to Indian parents. He started his career working in his family’s steel business. He eventually took over the company and expanded it into a billion-dollar business.
Raval is a philanthropist and has donated millions of dollars to various charities. He is also an active supporter of the Kenyan government.
3. Naushad Merali
Naushad Merali is one of the richest people in Kenya. He is the chairman and managing director of Sameer Africa, one of the largest conglomerate companies in Kenya.
Merali was born in 1954 in Tanzania to Indian parents. He moved to Kenya in 1971 to study at the University of Nairobi, where he graduated with a degree in economics. After graduation, Merali worked for a number of companies in Kenya before starting his own business in 1980.
His company, Sameer Africa, is involved in a wide range of businesses, including manufacturing, real estate, agriculture, and automotive. Sameer Africa has been very successful, and Merali himself is now one of the richest people in Kenya. His net worth is estimated to be around $600 million.
4. Bimal Shah
Bimal Shah is the founder and CEO of Broadways bread company, one of Kenya’s largest and most successful bakeries. He started the company in 2001 with just a small loan from his father and has since built it into a multimillion-dollar business.
Shah is one of the richest people in Kenya, with an estimated net worth of $600 million. He is also one of the country’s most generous philanthropists, donating millions of dollars to charities each year.
Shah’s success inspires many young entrepreneurs in Kenya, and he is widely respected for his business acumen and philanthropic work.
5. Bhimju Depar Shah
Bhimju Depar Shah is the chairman and managing director of Bidco Oil Refineries, one of the largest oil companies in Kenya. He started his career as a civil engineer before moving into the oil business. He has a degree in civil engineering from the University of Nairobi.
Bidco is one of Kenya’s leading manufacturers of edible oils, detergents, and soaps. It has a refinery in Mombasa with a capacity to process 500,000 metric tonnes of crude oil per year. The company also has a palm plantation in Western Kenya which covers an area of 50,000 hectares.
Bhimju Depar Shah has a net worth of $600 million, making him one of the richest people in Kenya.
6. Narendra Ravel
Narendra Ravel, the chairman and managing director of the Deuki Group of Companies, is one of the richest people in Kenya. He started his career as a civil engineer and later ventured into business. He is now one of the most successful businessmen in Kenya, with interests in construction, real estate, and manufacturing.
Ravel’s company, Deuki Group of Companies, is one of the leading construction companies in Kenya. The company has been involved in some of the most prestigious construction projects in Kenya, including the Nairobi-Thika Superhighway and the Standard Gauge Railway.
In addition to his construction business, Ravel is interested in real estate and manufacturing. He owns several properties in Kenya and has a stake in several manufacturing companies.
Ravel is one of the richest people in Kenya, with an estimated net worth of $600 million. He is one of the most influential businessmen in Kenya, and his success story inspires many young entrepreneurs.
7. S.K Macharia
SAMUEL KAMAU MACHARIA is the owner and CEO of Royal Media Services, which includes radio stations and a television station. Macharia was born in 1962 in Murang’a County, Kenya. He attended Nyeri High School before studying economics at the University of Nairobi. After graduation, he worked briefly as an accountant before joining his father’s business.
In the early 1990s, Macharia expanded Royal Media Services to include radio stations. In 2006, he launched Citizen TV, Kenya’s first 24-hour news channel. Macharia is one of the most influential media moguls in Kenya. His media companies reach millions of Kenyans daily with news, entertainment, and music.
8. Peter Kahara Munga
Peter Kahara Munga is the Equity bank group’s founder and one of the richest people in Kenya. He started the bank in 1984 with just $100,000 and has since grown it into one of the largest banks in the country with over $2 billion in assets. Munga is also a philanthropist and has donated millions of dollars to various charities.
9. Baloobhai Patel
Baloobhai Patel is the CEO of Transworld Safaris Limited and Non Executive Director at Pan Africa Insurance. He has an estimated net worth of $600 million. Patel was born in Kenya to Indian parents who had migrated from Gujarat in the 1920s. He attended local schools before studying at the University of Nairobi, where he graduated with a degree in economics.
Patel began his career working in the family business, a small trading company called Patel Brothers. He later joined an insurance company and then moved into tourism, setting up Transworld Safaris in 1977. The company grew rapidly under Patel’s leadership, becoming one of the largest safari operators in Africa, with a fleet of over 30 vehicles and a staff of over 200 people.
Patel also diversified into other businesses, including hospitality and real estate. Patel has been a major contributor to the development of Kenya’s tourism industry and is widely respected within the business community. The Kenyan government awarded him the Order of the Burning Spear (MBS) in recognition of his contribution to the economy.
9. Atul Shah
Atul Shah is the managing director and chief executive officer of Nakumatt Holdings, one of the largest retail chains in Kenya. He has an estimated net worth of $1.1 billion.
Shah founded Nakumatt Holdings in 1987. The company had over 60 stores in Kenya and Uganda. It also had a presence in Tanzania, Rwanda, and Burundi.
Nakumatt Holdings was the largest retailer in Kenya, with annual sales of over $700 million. Shah is a major philanthropist and has donated over $10 million to various charities.
10. Mahendra Rambgai Patel
Mahendra Rambgai Patel is the chairman and managing director of the Ramco Group, one of Kenya’s leading business conglomerates. The group’s interests span various sectors, including manufacturing, engineering, construction, energy, financial services, and healthcare.
Under Mahendra Patel’s leadership, the Ramco Group has grown from a small trading company into a large and diversified business empire. The group employs over 12,000 people and has an annual turnover of US$1.5 billion. Mahendra Patel is also a philanthropist and is actively involved in many charitable causes. He is a trustee of the Ratanji Lalji Patel Foundation, which supports education, health, and community development initiatives in Kenya.
Top 4 Richest Families in Kenya
1. The Kenyatta Family
The Kenyatta family is one of the richest families in Kenya. They have a net worth of $1 billion. The family owns several businesses, including a bank, a media company, and a hotel chain. They also own large tracts of land in Kenya.
2. The Moi Family
The Moi family is another one of the richest families in Kenya. They have a net worth of $4 billion. The family owns several businesses, including a bank, an insurance company, and a telecommunication company. They also own large tracts of land in Kenya.
3. The Kibaki Family
The Kibaki family is another one of the richest families in Kenya. They have a net worth of $5 billion. The family owns several businesses, including a construction company, an oil refinery, and a pharmaceutical company. They also own large tracts of land in Kenya.
4. The Odinga Family
The Odinga family is another one of the richest families in Kenya. They have a net worth of $6 billion. The family owns several businesses, including a shipping company, a telecommunications company, and a real estate company
Wealth in Kenya is concentrated among a small number of individuals, with the richest people in Kenya having an estimated net worth of billions of shillings. While there are many ways to become wealthy in Kenya, most of the country’s wealth is inherited or acquired through political connections. For ordinary Kenyans, becoming wealthy is difficult, but it is possible through hard work and dedication.