Jared Kangwana is a Kanu-era entrepreneur who is well known for his venture in the media industry in Kenya.
In 1990, he founded Kenya Television Network (KTN), the first free-to-air privately owned television network in Kenya and Africa.
He faced several challenges in his quest to disrupt the state-owned monopoly in the broadcasting industry but managed to make a mark before the station was taken over by the government.
Despite this setback, Kangwana went on to build a successful business empire that spans across different sectors of the economy.
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In this article, we will take a closer look at his businesses and how he has managed to create wealth over the years.
KTN
Jared Kangwana’s journey as an entrepreneur began in 1990 when he founded Kenya Television Network (KTN). The station was the first privately owned free-to-air television network in Kenya and Africa.
It started broadcasting international programs from CNN, MTV, and other major television networks. The station generated its revenue from advertisements and TV production services.
The major breakthrough for KTN came in 1992 when it won the rights to carry the 1992 Summer Olympics and the rights to air several other major international events.
The success of KTN attracted bids for joint ownership from Maxwell Communications in London, MNET in South Africa, and the ruling party KANU.
However, the government began to sanction the station and issue orders to the editors to censor government-related news or surrender the station to the regime.
In October 1993, police officers boarded a commercial flight, sieved Kangwana’s passport, and prevented him from leaving the country for a business trip.
The act was part of the government’s intimidation strategy to have him surrender ownership of KTN to the KANU regime.
Kangwana was forced to relinquish control of the station to the regime, and it is currently under the Standard Group, which is associated with the Moi family.
Real Estate Business Empire
Jared Kangwana is the man behind Anglo-African Property Holdings (AAPPH), a real estate company that was listed in the Growth Enterprises Market Segment (GEMS) at the Nairobi Securities Exchange (NSE) in 2016.
The company owns lucrative properties such as The Mall in Westlands, Chester House in the CBD, Impala Ecolodge in Kisumu, and a 0.8-acre prime plot of land in Upperhill, opposite Citibank.
According to its website, the company’s aggregate net assets stand at Sh 2.4 billion and is run by 179 staff.
Kangwana’s family is at the helm of its leadership, with Biki Kangwana serving as the Chief Executive Officer (CEO), Tabitha Kangwana as a non-executive director, Frank Ireri as a non-executive director, and Mr. Kangwana, a former board member at the CMA, as the chairman, as reported by Business Daily.
Financial Services
Jared Kangwana is also involved in the financial services sector. According to Business Daily, he is the face behind Maisha Microfinance Bank, which was established in 2016.
The financial institution has six directors, including Beatrice Shabana, Kamal Shah, and Prof Alejandro Lago. The bank provides loans, savings, and insurance products to small and medium-sized enterprises (SMEs) and individuals.
The bank’s mission is to empower the unbanked and underbanked population in Kenya through affordable and accessible financial services.
Insurance
Jared Kangwana owns Monarch Group, a conglomerate that owns Monarch Insurance and has its headquarters at Chester House along Koinange Street.