Discover the Top 10 Richest People in Kenya 2024 and learn about their achievements and contributions to the country’s economy.
The Wealthiest Individuals in Kenya
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
Top 10 Richest People 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.
Kenya, a vibrant and diverse country in East Africa, is home to numerous successful entrepreneurs and business tycoons. In this article, we will explore the top 10 richest people in Kenya, highlighting their achievements and contributions to the country’s economy.
Aliko Dangote
Aliko Dangote, a Nigerian businessman, is not only one of the richest people in Africa but also in Kenya. His wealth primarily comes from his conglomerate, the Dangote Group, which has interests in cement, sugar, flour, and other industries.
Naushad Merali
Naushad Merali is a Kenyan businessman with investments in various sectors, including banking, telecommunications, and real estate. His companies, such as Sameer Group and Airtel Kenya, have played a significant role in Kenya’s economic growth.
Vimal Shah
Vimal Shah is the CEO of Bidco Africa, a leading manufacturer of edible oils, detergents, and other consumer products. Under his leadership, Bidco has expanded its operations across Africa, contributing to Vimal Shah’s immense wealth.
Manu Chandaria
Manu Chandaria is a renowned industrialist and philanthropist in Kenya. He is the chairman and CEO of the Comcraft Group, which has interests in steel, plastics, and other industries. Chandaria’s contributions to Kenya’s manufacturing sector have earned him a prominent position among the richest individuals in the country.
Chris Kirubi
Chris Kirubi, a prominent Kenyan entrepreneur and investor, has made significant investments in various sectors, including real estate, media, and manufacturing. He is the founder of Centum Investment Company, a leading investment firm in East Africa.
Narendra Raval
Narendra Raval, popularly known as “Guru,” is the founder and chairman of Devki Group, a conglomerate with interests in steel, cement, and other industries. His contributions to Kenya’s manufacturing sector have earned him a place among the wealthiest individuals in the country.
Uhuru Kenyatta
Uhuru Kenyatta, the current President of Kenya, is also one of the richest people in the country. Before entering politics, Kenyatta had successful business ventures in sectors such as real estate and hospitality.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.
James Mwangi
James Mwangi is the CEO and Managing Director of Equity Group Holdings, one of the largest banking groups in East Africa. Mwangi’s leadership has played a crucial role in the bank’s growth and success.
Joshua Oigara
Joshua Oigara is the Group CEO of Kenya Commercial Bank (KCB), the largest bank in Kenya. Under his leadership, KCB has expanded its operations across the region, contributing to Oigara’s wealth and influence.
Tabitha Karanja
Tabitha Karanja is the founder and CEO of Keroche Breweries, the first Kenyan-owned beer manufacturer. Her entrepreneurial journey and success in a male-dominated industry have made her one of the most inspiring and influential businesswomen in Kenya.
These individuals have not only achieved remarkable success in their respective fields but have also made significant contributions to Kenya’s economy. Their stories serve as an inspiration to aspiring entrepreneurs and highlight the potential for success in the country’s business landscape.
It is worth noting that the rankings of the richest people in Kenya may vary over time due to changes in the economy and individual business fortunes. Nevertheless, the individuals mentioned in this article have consistently demonstrated their ability to create wealth and drive economic growth.
As Kenya continues to develop and attract investment, it is likely that more individuals will join the ranks of the country’s wealthiest. The success stories of these entrepreneurs and business leaders serve as a testament to the potential for prosperity in Kenya.
Disclaimer: The rankings and wealth estimates mentioned in this article are based on available information and may not reflect the most current figures.
Other Notable Rich Men in Kenya
- 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. - 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.
- 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.
- 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.
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 |
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.
Top 10 Richest Kids 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)
