James Mwangi (Kenya)
CEO: Equity Bank Group
Equity Bank Group chief executive James Mwangi is an astute businessman in his own right. Mwangi is best known for his efforts in shepherding the Equity Bank Group from a technically insolvent building society in 2004 to one of the largest and most profitable companies in the country. It is no wonder that Mwangi has won practically every award in the financial services sector.
Mwangi is also a multi-millionaire and easily makes it to the list of Kenya’s richest men. Since the end of a two year lock-in for anchor shareholders that was attached to the bank being listed on the Nairobi Securities Exchange (NSE) in 2006, Mwangi has been offloading part of his shares making millions in return. Mwangi is also one of the primary shareholders of the British American Investments Company (Britak), a leading financial services group that listed on the NSE last year.
Manu Chandaria (Kenya)
Chairman: The Comcraft Group
The Kenyan-Indian businessman is the chairman of Comcraft Group, an industrial conglomerate estimated to be worth $2.5 billion. Chandaria’s father moved to Kenya in 1916 and opened a provisions store in Nairobi and later invested in an aluminium plant called KaluWorks. Chandaria, alongside other family members, later took over the running of the family business, which today has a presence in 45 countries across the world and employs 40,000 people. The Comcraft Group has interests in the manufacturing of steel, plastics and aluminium products.
The Madhvani family (Uganda)
The Madhvani family runs one of the largest companies in Uganda. The Madhvani Group is estimated to have $275 million in assets and has investments across Africa, the Middle East, India and North America. The group’s key business is sugar production with Kakira Sugar Works being one of its major companies.
According to Mayur Madhvani, the managing director of the company, and one of the sons of the group’s founder, Muljibhai Madhvani, Kakira Sugar Works last year had over 8,800 registered farmers as sugarcane outgrowers.
Bedsides sugar, the Madhvani Group also has interests in tea estates, floriculture, glass, matches, construction, insurance and tourism.
Jimnah Mbaru (Kenya)
Chairman: Dyer and Blair Investment Bank
Mbaru is the chairman of Dyer and Blair Investment Bank and a director in several companies. Mbaru has been influential in the capital markets sector in Africa. Some of his achievements include leading big deals such as the landmark $110 million KenGen IPO in 2006; the $60 million Celtel 2005 corporate bond; and the 1996 EADB Bond, which was the first ever corporate bond in east Africa. He has served as chairman of the Nairobi Securities Exchange (NSE) and helped establish the Rwanda Stock Exchange.
Mbaru is also one of the founding members of Trans-Century Group, a NSE-listed investment firm focused on infrastructure. In addition he is one of the primary shareholders of the British American Investments Company (Britak), a leading financial services group.
Chris Kirubi (Kenya)
Kirubi has varied investments in manufacturing, property, media and insurance.
He first started in business by buying decayed properties in Nairobi, renovating the buildings, and then re-selling them for a profit. He currently owns various residential and commercial buildings in Nairobi.
Kirubi controls, or has a stake in, a number of east African companies, including: consumer goods firm Haco Tiger Brands, investment company Centum, UAP Insurance, and the DHL franchise in Kenya. In addition, Kirubi also owns popular Kenyan radio station Capital FM, on which he is also a DJ.
