Kenya is home to over 125 billionaires, according to a report by Knight Frank. The country’s wealthiest individuals have invested in various sectors, including manufacturing, the financial sector, hospitality, and real estate, among others.
Below is the list of some of the wealthiest men in Kenya.
- Bhimji Depar Shah
The founder of Bidco Industries is one of the richest men in Kenya and Africa, with an estimated net worth of Sh85 billion.
Established in 1970 as a garment manufacturer, Bidco ranks as Kenya’s leading edible oil producer, generating over Sh38.7 billion in annual revenue and marketing products in 13 African countries. The company also manufactures detergents, beauty soaps, and baking powders.
His son, Vimal Shah, serves as Bidco CEO.
- Narendra Raval
Narendra Raval is the founder and executive chairman of Devki Group, Kenya’s largest steel manufacturer. He also owns Simba Cement and ARM Cement Limited.
The business mogul started building his industrial empire, the Devki Group of Companies, in Kenya in 1986. The conglomerate manufactures building materials in various parts of the country and across the East African region.
Forbes last estimated his net worth at Sh51.7 billion in 2015.
- Kenyatta family
The Kenyatta family led by former president Uhuru Kenyatta is regarded as the wealthiest in Kenya with investments across various sectors, including banking, agriculture
Some of the companies associated with the Kenyatta family are Brookside Dairy—which commands 60 percent of Kenya’s dairy market, Mediamax Network Limited, and Heritage Group of Hotels.
The family also holds a 13.2 percent stake in NCBA.
- Moi Family
Kenya’s second president, Daniel Moi’s family controls a vast business empire spanning banking, media, aviation, real estate, and energy. They own Standard Media Group (KTN, The Standard newspaper) and Siginon Group (logistics & aviation).
With 300,000 acres of land, they are Kenya’s second-largest landowners. Their holdings include Kabarak University, Sacho High School, and Moi Educational Foundation.
List of top 10 richest companies in Kenya, their market value
- James Mwangi
The CEO of Equity Group is Kenya’s wealthiest banker. Mwangi holds a 3.39 percent stake (127.8 million shares) in Equity Group worth Sh8.5 billion and 2.97 percent of Britam Holdings.
- Humphrey Kariuki
Humphrey Kariuki is the founder of Janus Continental Group, a billion-dollar conglomerate with interests in power generation, petroleum distribution, construction, real estate, hospitality, and beverages.
He owns GL Africa Energy, which operates in Kenya, Uganda, Zambia, and Mozambique, and Dalbit Petroleum, a major fuel distributor across Africa.
His hospitality assets include the Fairmont Mount Kenya Safari Club and The Hub Karen.
- Suresh Bhagwanji Shah
He is the founder of I&M Bank Group, a leading financial institution with operations in Kenya, Tanzania, Rwanda, and Mauritius. He owns a 10.58 percent stake in the bank, valued at over Sh6 billion. Beyond banking, he has expanded his wealth through MTZ Holdings.
- Jaswant Singh Rai
Jaswant Singh Rai is the chairman of Rai Group, a diversified conglomerate with interests in sugar, real estate, timber, edible oils, and paper manufacturing across East Africa.
He leads West Kenya Sugar Limited, Kenya’s second-largest sugar producer. Other companies associated with him include Rai Paper Mills, Timsales, Menengai Oil Refineries, and Tulip Properties.
- Baloobhai Patel
Patel is a seasoned investor and entrepreneur with interests in various sectors including banking, real estate, and manufacturing.
He owns Transworld Safaris, one of Kenya’s oldest safari companies, and owns 49.9 percent of Carbacid Investments Plc, a major carbon dioxide producer.
He also holds substantial stakes in Williamson Tea, Bamburi Cement, and Sanlam Kenya Plc.
- Julius Mwale
Julius Mwale is the founder of Mwale Medical and Technology City (MMTC), a smart city in Kenya. His business empire spans healthcare, technology, and infrastructure, with MMTC expanding into 12 African countries.
He is also the primary investor in SBA Technologies Inc., a New York-based company specializing in secure mobile commerce platforms.
