According to Oxfam International, an international movement that fights inequality and poverty globally, less than 0.1% of Kenyans (referring to the rich) own more than the remaining 99.9%. That shows the wide gap between the poorest and the richest people in Kenya.
Oxfam argues that 10% of the wealthiest individuals make 23 times more than the poorest. What’s even more eyeball-grabbing is the idea that the super-rich or millionaires are expected to grow by 10% in the next decade. That means there will be about 7500 new millionaires by 2032.
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You probably wonder who makes 0.1% of the wealthiest Kenyans, right? According to Business Insider Africa, four of the top 5 most affluent Kenyans are of Indian descent.
While the former president Uhuru Kenyatta takes the 4th position with an estimated net worth of $530 million (roughly Ksh 63.6 billion), the wealthiest person in Kenya is Sameer Naushad Merali of Sameer Group, who has an estimated net worth of $790 million (roughly Ksh 94.8 billion).
Meanwhile, Bidco Group founder Bhimji Depar Shah and textile giant Bedi owner Jaswinder Sighi Bedi are the second and the third most affluent Kenyans, respectively.
Note that while we are referring to individuals, that doesn’t include families like the Kenyatta, Moi family, and the Chandaria family, which have dominated the Kenyan money-bag sector for years.
And, of course, there’s Kenya’s first ever first lady, Mama Ngina Kenyatta, who, according to Business Today, is worth $1 billion, excluding the family property.
Here’s what we’ll look at in this article:
- Richest families in Kenya
- Richest men in Kenya
- Wealthiest women in Kenya
Let’s jump into it!
In a rush? Here’s an overview of the top 10 richest people and families in Kenya:
An Overview of the Top 10 Richest People in Kenya
|Identity||Estimated Net Worth||Main Source Of Wealth|
|1.||Moi Family||$3 billion||First American Bank, Equatorial Bank, KTN, Regent Management, Kabarak University, Kabarak High School, Fresh Produce Ltd, among others|
|2.||Kenyatta Family||$2.5 billion||Brookside, Peponi school, Beta Healthcare, NCBA, and lands, among others|
|3.||Chandaria Family||$1.7 billion||Comcraft Group (steel manufacturing)|
|4.||Philip Ndegwa Family||$1.8 billion||ICEA Lion, NCBA, AmBank, and Riverside Park|
|5.||Biwott Family||$1.1 billion||Yaya Center|
|6.||Mama Ngina Kenyatta||$1 billion||Banking, hospitality, and real estate|
|7.||Sameer Naushad Merali||$790 million||Sameer Group|
|8.||Bhimji Depar Shah||$750 million||Bidco Group|
|9.||Jaswinder Sighi Bedi||$680 million||Bedi textile|
|10.||Uhuru Muigai Kenyatta||$530 million||Brookside, Peponi School, NCBA, and Beta Healthcare, among others|
Top Richest People in Kenya Reviewed
Top 5 Richest Families in Kenya
The wealthiest families in Kenya today include:
1. Moi Family
(Estimated Net Worth – $3 Billion)
The Moi family is arguably Kenya’s wealthiest family, even though they don’t produce the richest single individual in the country. The late former president’s family has an estimated net worth of at least $3 billion spread across different sectors.
This family has stakes at First American Bank, Equatorial Bank, KTN, Regent Management, Kabarak University, Kabarak High School, Inter-Continental Hotel, and Fresh Produce Ltd, among others.
2. Kenyatta Family
(Estimated Net Worth – $2.5 Billion)
Expectedly, the Kenyattas are among the wealthiest families in Kenya. With an estimated net worth of $2.5 billion, the family of the first president has stakes in banking, telecommunication, real estate, tourism, energy, and transport, among other sectors.
Notable billionaires in the family are the first-ever first lady Mama Ngina and the former president Uhuru Kenyatta.
Some of their noteworthy investments include Brookside, Peponi school, Beta Healthcare, NCBA, and lands, among others.
3. Chandaria Family
(Estimated Net Worth – $1.7 billion)
Manu Chandaria, the owner of Comcraft Group, is a rich man. And though some sources rank him the richest in Kenya, Manu Chandaria and his family are worth at least $1.7 billion.
His company Comcraft Group is a pacesetter in the industrial engineering sector, producing steel, aluminum, and plastic in over 40 countries.
The Chandaria family is known for their philanthropy, especially sponsoring clinics and schools in the country.
4. Philip Ndegwa Family
(Estimated Net Worth – $1.2 Billion)
The late economist Philip Ndegwa is the first Kenyan to bank a billion Kenyan shillings. The former CBK governor owned majority shares at NIC Group, which later merged with Kenyatta’s owned CBA to form NCBA.
Ndegwa Family also has stakes in ICEA Lion, Riverside park, and AmBank, among other investments totaling more than $1.2 billion.
5. Biwott Family
(Estimated Net Worth – $1.1 Billion)
While Biwott is no more, the soft-spoken politician and money bag left a long list of highly marketable assets to his family.
The most notable one is Yaya center, one of the biggest shopping centers in Kenya. The family also has stakes in Air Kenya and enjoys a net worth of at least $1.1 billion.
Richest Men in Kenya
According to Business Insider Africa, the top 5 wealthiest men are:
1. Sameer Naushad Merali (Richest Man in Kenya)
(Estimated Net Worth – $790 million)
Having a massive inheritance from his late father, Naushad Merali, Sameer Naushad Merali is currently the richest man in Kenya. His $790 million net worth ranks him second behind mama Ngina Kenyatta whose worth is over $1 billion.
Sameer owns a controlling share at Sameer Group, whose investment portfolio spreads across the banking sector, real estate, manufacturing, agriculture, and telecommunication.
2. Bhimji Depar Shah
(Estimated Net Worth – $750 Million)
Bhimji Depar Shah is the father of the Bidco Group CEO Vimal Shah, the wealthiest man in Kenya at one point. However, much of Vimal Shah’s wealth belongs to his father, Bhimji Depar.
Mr. Bhimji Depar founded Fast-Moving Consumer Goods manufacturer Bidco Group, which is associated with brands like Elianto Oil, Msafi, Cowboy, Sun Top, Golden Fry Cooking Oil, and Noodies Instant Noodles, among others.
He is estimated to be worth $750 million.
3. Jaswinder Singh Bedi
(Estimated Net Worth – 680 Million)
Jaswinder Singh Bedi is the owner of the textile manufacturing giant Bedi. He is the 3rd wealthiest man in Kenya and the fourth overall, owing to his $680 million investment portfolio.
4. Uhuru Muigai Kenyatta
(Estimated Net Worth – $530 million)
Former president Uhuru Kenyatta ranks fourth with an estimated net worth of $530 million. Some observers, however, argue that his wealth is mainly associated with his family, who have interests in banking, transport, media, dairy farming, land, and hospitality.
5. Mahendra Rambgai Patel
(Estimated Net Worth – $430 million)
Coming 5th is Ramco Group owner Mahendra Rambgai Patel. Mr. Patel has an estimated net worth of $430 million spread across various sectors such as manufacturing, print media, real estate, hardware, and office supply.
Other Notable Rich Men in Kenya
6. Narendra Raval
(Estimated Net Worth – $400 million)
Narendra Raval is a seasoned entrepreneur who currently serves as the chairman of Denki Group, a leading building material maker.
Denki Group manufactures steel, aluminum, and cement and anchors several companies under its wings. Mr. Raval is currently worth at least $400 million.
7. Peter Munga
(Estimated Net Worth – $280 million)
Peter Kahara Munga is the chief founder of Equity Holding Group, one of the leading banking brands in the region. He recently stepped down from his company chair role but remains affluent.
Mr. Munga has an estimated net worth of $280 million.
8. Raila Odinga
(Estimated Net Worth – $250 Million)
At one point, Raila Odinga claimed that he was only worth Ksh 2 billion. Observers think he is worth more, $250 million, to be precise.
The former prime minister has stakes in East African Spectra and Pan African Petroleum Industrial Services, among other investments. He is also notable for his luxurious mansions in Mombasa, Karen, and Kisumu.
9. James Mwangi
(Estimated Net Worth – $170 Million)
James Mwangi is the CEO and MD of Equity Group, founded by Peter Munga (Shared earlier).
Mr. Mwangi might not own Equity bank, but he is one of the highest-paid MDs in Kenya, averaging millions a month. That explains why he is worth $170 million.
10. SK Macharia
(Net Worth – $165 Million)
Samuel Kamau Macharia, popularly known as SK Macharia, is one of the most notable faces in Kenyan media. He owns Royal Media which hosts Citizen TV, Citizen Radio, and Viu Sasa, among other vernacular stations.
Mr. Macharia has an estimated net worth of $165 million which predominantly relates to his stakes in Royal media. Besides media, SK has interests in the banking, agriculture, and real estate sectors.
Top 5 Richest Women in Kenya
Now, according to Business Today, here are the wealthiest women in Kenya:
1. Mama Ngina Kenyatta
(Estimated Net Worth – $1 Billion)
The former first lady and the first-ever mama Ngina Kenyatta is not just the richest woman in Kenya but the richest overall. While it’s unclear how much the former first lady or her family is worth, she is understood to be very rich.
Her estimated net worth is around $1 billion (roughly Ksh 120 billion) across the banking, hospitality, and real estate sectors. She and her family have stakes in Brookside Daily, Beta Healthcare, Media Max, NCBA PLC, Heritage Hotel Group, and Peponi School, among others.
2. Jane Wanjiru Michuki
(Estimated Net Worth – Over Ksh 10 Billion)
Jane Wanjiru Michuki, a lawyer by trade, is part owner of Equity Holdings (at 44.4%). She also has stakes (9.5%) in Britam, valued at around Ksh 5.4 billion.
The acclaimed lawyer top the NSE female billionaire list, and according to Business Today, she could be worth more than Ksh 10 billion if you factor in her NSE, Equity, and Britam shares.
3. Senator Tabitha Karanja
(Estimated Net Worth – Over Ksh 8.5 Billion)
Tabitha Karanja, now known as senator Tabitha Karanja Keroche is the current Nakuru senator. She is the founder, majority shareholder, and CEO of brewing giant Keroche.
According to Business Today, Senator Karanja is worth more than Ksh 8.5 billion. Her daughter Anerlisa Muigai is among the wealthiest kids in Kenya, owing to her premium water company Nero and other investments.
4. Jane Wangui Njuguna
(Estimated Net Worth – Over Ksh 3 Billion)
Jane Wangui Njuguna is the wife of current Equity bank MD James Mwangi. She has stakes in Equity Group Holdings, Britam, and Filimbi investment Ltd, among others.
According to Knight Frank, she is among the fewest Kenyan women billionaires, worth more than Ksh 3 billion. Essentially that’s owing to her Ksh 3.7 billion stakes at Equity Group.
5. Dr. Catherine Nyongesa
An oncologist by trade, Dr. Catherine Nyongesa is the co-founder of Texas Cancer Center. The other co-founder is her US-based husband, Samson Watta.
She also chairs the Kenya Society of Hematology and Oncology (KESHO) and is a lecturer at Nairobi University. While her net worth is unclear, KRA recognizes her as one of the fewest Kenyans with an annual income of Ksh 350 million – Ksh 1 billion, and among the richest people in Kenya.
Other Notable Rich People in Kenya
Here are other notable ten richest people in Kenya to complete our top 30 list:
- Transworld Safaris Baloobhai Patel ($150 million)
- Airtel Kenya chairman Titus Naikuni (Ksh 100 million)
- Investment banker Jimnah Mbaru ($48 million)
- Simba Corporation chairman Adil Popat ($48 million)
- Kenya Nut Company owner Pius Ngugi ($35 million)
- Buzeki Logistics founder Kiprop Bundotich Buzeki ($30 million)
- Britam Holdings MD Benson Wairegi ($19 million)
- Nakumatt Holdings founder Atul Shah (net worth unclear due to the fall of Nakumatt Holdings)
People Also Ask
1. How Many Billionaires Are in Kenya?
According to Business Daily Africa, at least 340 Kenyans are worth more than $10 million (or Ksh 1.2 billion). However, only 15 Kenyans are worth over $100 million (or Ksh 12 billion), also known as cent-millionaires.
2. How Many Trillionaires Are in Kenya?
Sadly, there is no single Kenyan trillionaire. There are, however, more than 340 billionaires, according to Business Daily Africa. The 340 individuals have estimated earnings of over $10 million (Ksh 1.2 billion).
3. Who Is the Richest Lady in Kenya?
The richest lady in Kenya is Mama Ngina Kenyatta, the wife of the first president of Kenya, Jomo Kenyatta, and the mother of the former president Uhuru Kenyatta. She is estimated to be worth at least $1 billion (Ksh 120 billion).
4. Who Is the Richest Kid in Kenya?
The most affluent kids in Kenya currently include:
- Alvin Kabogo (son of the former Kiambu governor William Kabogo)
- Anerlisa Muigai (daughter of Nakuru senator and Keroche Breweries owner Tabitha Karanja).
- Ian Waiguru (son of the governor of Kirinyaga, Anne Waiguru).
- Muhoho Kenyatta (son of the former president, President Uhuru Kenyatta)
- Saumu Mbuvi (daughter of the former Nairobi governor, Mike Sonko)
- Nick Ruto (son of the current president, Dr. William Ruto)
Closing Remarks On the Richest People in Kenya
Now you know who the crème de crème and moneybags of Kenya are. Sadly, as I mentioned, they only comprise 0.1% of the Kenyan population.
Clearly, we have much catching up to do, and that’s where we come in as Cent Warriors. At Cent Warrior, we understand that we all can’t be billionaires but can live a financially free and fulfilling life.
You can learn how to equip yourself for financial freedom through our free downloadable personal finance guide. We are also available on social media to discuss finance, debt burden relief, investment opportunities, and wealth creation.