Two recent studies into fortunes of Kenyans have identified a small circle of super-rich individuals who control the bulk of the country’s wealth. The names listed here have featured top in a survey by London-based firm New World Wealth and also on Forbes.
Although the bulk of the wealth is controlled by just a few, another report from the Central Bank of Kenya indicates that the number of Kenyans who have KSh 100,000 or more in their accounts stood at 1.1 million.
Number 5: Manu Chandaria
Industrialist Chandaria is the chairman of Comcraft group and is estimated to be worth KSh 27 billion.
Chandaria chairs boards of many government and non-governmental organisations in the country.
Some of these include Mabati Rollings, Kaluworks, Uganda Baati, universities as USIU, Technical, and banks as Bank of India, previously Standard Charted Bank, among others.
Number 4: Chris Kirubi
Kirubi, popularly referred as DJ CK is the owner of Capital Media Group and has a huge stake in Haco Tiger brands. He is the chairman of Centum Investment Group.
Number 3: President Uhuru Kenyatta
Different reports put president Kenyatta either at position two or three. He is valued at KSh 48 billion with investments cutting across almost all sectors of the Kenyan economy. He owns vast tracts of land too.
KSh 48 billion can provide free education in Kenya complete with food and buying school equipment for one year.
Number 2: Naushad Merali
Merali is the founder of the Sameer Group that deals in construction, agriculture, property, IT and finance. Forbes estimates that he is worth KSh 53 billion. Half of that amount, according to the Kenya budget 2015/2016 can modernise military and police equipment, lease police and prisons vehicles, provide all police officers with a medical cover.
Number 1: Vimal Shah
Vimal Shah is said to be the richest man in Kenya at the moment. He is consumer goods maker Bidco’s chief executive officer.
While Forbes estimates that Shah is worth a conservative figure of KSh 68 billion, New World Wealth put it at a staggering KSh 144 billion.