Top 10 Richest People in Kenya 

Every country of the world is dominated by three sets of individuals: the first class, second class and third class. Even among the first class, the ranking differs as even the fingers are never equal. Kenya is not left out of this law of nature and has its own millionaires and billionaires among its citizens. It boasts of having the largest economy in East Africa and the third largest in Sub-Saharan Africa.

Kenya has a lower-middle class economy which is market-based. With plans of being industrialized by 2030, Kenya is living up to the vision with its state enterprise and public investments. It was also one of the fastest growing economies in Africa before the pandemic and is gradually bouncing back to retain the feat.

Top 10 Richest People in Kenya

Kenya is located in East Africa on the coast of the Indian ocean. Even though a greater percentage of the citizens live below the international poverty line as established by world bank, the country boasts of its own illustrious citizens who are making their marks in the rank of richest men.

As examined by Forbes and other authentic sources, here is a list of the top ten richest people in Kenya and how much they are worth.

10. James Mwagi – $250 Million

Born in 1962, James Mwagi is a Kenyan accountant, businessman, banker and entrepreneur. He started his career as banking editor before joining Trade Bank. He is the Group chief executive officer and Managing Director of the banking conglomerate named Equity Group holdings PLC. Equity Bank was a loss-making company back in 1993, but James Mwagi turned it into one of the largest banks in East and Central Africa. Currently James Mwagi is valued at $250 million.

9. Peter Kahara Munga – $300 Million

Peter Munga was born in 1943. He is the founder and immediate past group chairman of Equity Bank group, the largest bank holding company in Africa. He hired James Mwagi to help the insolvent company. He owns shares in publicly traded companies. He was also given an honorary doctorate degree by the University of Nairobi. His current net worth is valued at $300 million.

8. Samuel Kamau Macharia – $365 Million

Also known as SK Macharia, Samuel Macharia was born in 1942. He is a businessman and founder of Royal media services which has its subsidiaries as Citizen TV and radio citizen. He first started as an untrained primary school teacher, before he was eventually able to acquire a degree in political science and another in accounting. He is also a certified public accountant. He formed the first and only local tissue paper company Madhupaper in Kenya. He has a current net worth of $365 million.

7. Baloobhai Patel – $430 Million

Born in Uganda in 1939 with an Indian descent, Baloo Patel is recognized as a Kenyan multimillionaire. He started as a bank teller in a Kenyan bank and later moved to a tour operating company, Transworld Safaris limited. Later he went into the aviation business while offering aerial excursions as the managing director of the touring company. With the proceeds, he dived into real estate, mining, printing and insurance businesses. He is also a stakeholder in many leading companies. His current net worth is valued to be around $430 million.

6. Uhuru Kenyatta – $500 Million

Born in October 1961, Uhuru Kenyatta is the serving president of Kenya since 2013 and party leader of the ruling party in Kenya. He is also the son of the first president of the country. He is a graduate of political science and economics from the university of Massachusetts. He began exporting agricultural products after his graduation. He was also elected to various public offices before he eventually became president. With a net worth of $500 million, Uhuru Kenyatta is nicknamed world’s best president by his citizens.

5. Bhimji Depar Shah – $700 Million

Depar Shah, born in 1931, is a Kenyan businessman, entrepreneur and industrialist. Together with his two sons, Depar Shah built BIDCO Africa, one of Africa’s largest companies specializing in the manufacture of soap, detergents and edible oil. He began his business career at the age of 15 as a wholesale and retail trader. Later he went into garment making before he started his soap making business. His son Vimal Shah was named as one of the richest people in Africa before Forbes replaced him with Depar Shah. He is currently valued at $700 million.

4. Naushad Merali – $790 Million

Naushad Merali is a businessman and founder of the Mobile service provider in Kenya, Kencell and French giant media company, Vivendi. He is known for the African boardroom folktale that brought him a profit of $20 million in one hour because of his shares in a private telecommunication company in Kenya. He started his career as a finance clerk in Royce motors before buying the company from its owner at the age of 24 which brought him wealth after expanding it. He is married to Zarin Merali and has a net worth of $790 million.

3. Ngina Kenyatta – $1 Billion

Ngini Keyatta, also known as Mama Ngina, is the wife of the first president of Kenya and the mother of the present president of the country. During her regime as first lady, Ngina’s husband bought a lot of cheap lands which were willed to her at his death. She then expanded the lands and delved into various interests like plantations, ranches, real estate and chains of hotels. According to a leak by Pandora papers, it was reported that Ngina and her family owned a network of offshore companies worth $30 million. Ngina Kenyatta has a current net worth of $1billion.

2. Narendra Raval – $1.07 Billion

Narendra Raval popularly referred to as Guru with an Indian ancestry, is a 59 year old business tycoon. He is a philanthropist and a master of astrology. He started as a factory worker in a small steel company where he learnt steel making. With the knowledge he acquired, he started his steel manufacturing company, which has since grown into Devki group, the biggest manufacturer of steel products in East and central Africa. His company also manufactures Kenya’s bestselling cement, Simba. He made the headlines when he stopped manufacturing steel for sale in one of his factories and instead began to produce oxygen for distribution in hospitals for free. His net worth is currently estimated to be about $1.07 billion.

1. Manu Chandaria – $2 Billion

Manilal Chandaria is a Kenyan business tycoon with an Indian descent. Manu Chandaria began assisting his Indian father in his provisions store when he was young. It was from this business that Manu Chandaria got the capital with which he went into the steel and aluminum industry. When the investors of the company broke up, Manu Chandaria and a few partners started Comcraft Group of companies, a billion-dollar enterprise with presence in over 40 countries. He was awarded the order of the British Empire by Queen Elizabeth II and has been awarded several other awards. He is also involved in philanthropic acts of setting up charitable trusts in every country where his company has presence. He is married to Aruba Chandaria and has a net worth of $2 billion.

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