Muranga Billionaires: Most of the central Kenya billionaires come from the same Rwathia village of Kangema, in Murang’a, succeeding in taking their businesses beyond Nairobi, into other capitals of African countries.
John Kibunga Kimani
John Kibunga Kimani is one of the most elusive billionaires. Non-Executive Director Kakuzi Plc. Kimani is also one of the single-largest investors in most blue-chip stocks at the NSE, with his shareholding in these companies alone valued at more than Sh1 billion
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His other declared stake is in Nation Media Group estimated to be worth Sh. 400 million. He has more investments in the stock exchange. In 2019, he pocketed $800,000 after selling off more than 3 million shares of listed oil marketing company, Total Kenya. Kimani had been one of the oil marketer’s top shareholders for many years and ranked as the second-largest investor in the company after Total SA of France, which is the controlling shareholder with a 93.96% stake.
Late Chris Kirubi
The late Chris Kirubi was a household name in Kenya. At one point, his stake in Centum Investments was worth close to Sh. 6 billion. This is, however, one of the many of late Kirubi’s investments, including the Two Rivers Mall. His business interests extended to banking, farming, manufacturing among others.
James Mwangi
James Mwangi, the CEO of Equity Group can rightly be termed as the Grand Master of banking in East Africa. His declared stake in Equity Bank is worth Sh. 5 billion and another Sh. 650 million in Britam.
Mwangi has many more shares in the stock market. Combined with other business interests, his worth runs in tens of billions of shillings.
He is among the Rwathia village generation that took over from their fathers. He has taken Equity Bank beyond Kangema, and Nairobi, to across Africa.
With more than 10 million customers in the six African countries, Equity Bank is the largest commercial bank in Africa by customer numbers. Last week, it announced planned entry into Malawi, Mozambique, Tanzania and Zambia.
Jimnah Mbaru
Jimnah Mbaru, another son of Rwathia village is one of the most respected business people in Kenya. His stakes in firms listed on the NSE are worth billions. Mbaru is a veteran of the stock market and therefore owns many more stakes in different companies.
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The investment banker is a resource in Kenya’s corporate world through his Dyer & Blair Investment Bank.
Benson Wairegi
Benson Wairegi is the former Managing Director of Britam also from Rwathia Rwathia. With his stake in Britam worth about Sh. 900 million, he has other interests at the stock market in companies like Equity Bank and Housing Finance among others. which guarantee his billionaire status.
Peter Munga
Peter Munga, the former Chairman of the Equity Group, has made his own mark in the history of Kenya’s entrepreneurship. He was the founder of the Equity Bank and his stake in the bank and other NSE firms is estimated to be worth billions shillings.
Munga has however been caught up in a number of financial controversies including the sale of a stake of Britam by the Mauritius government.
