Top Richest Kenyans

By,
nairobi vibes
1) The Aga Khan
Last year, his wealth in an NSE
listed company grew by Sh10.1 billion
from Sh1 1 .64 billion to Sh21 .75 billion
after the company’s share moved from
Sh166 to Sh312. In Tourism Promotion
Services (TPS) East Africa, a holding
company that has in its stable 21
hospitality establishments (13 hotels
and eight lodges) marketed through
Serena Hotel and Lodges brand name,
his wealth grew by Sh657 million from
Sh3.1billion to Sh3.7 billion. His shares
in TPS East Africa are held through Aga
Khan Economic Fund for
Development, Industrial Promotion
Services, Aga Khan University
Investments, Property Development
and Management (PDM) Holding, and
Craysell Investment. In Diamond Trust
Bank, his shares are held under Aga
Khan Fund for Economic Development,
Habib Bank, Craysell Investment and
PDM Holding. In the past 12 months,
his wealth in the bank grew by Sh4.9
billion from 6.7billion to 1 1 .68 billion.
In Jubilee Insurance, where his shares
are held under Aga Khan Fund for
Economic Development, his wealth grew
by Sh1 .9 billion from Sh4.09 billion to
Sh6 billion.

2) Ndegwa family
Through heavy investors in a wide range
of sectors: from farming, shipping real
estate and insurance, the family of the
late Philip Ndegwa are in the securities
market only through the National
Industrial Credit (NIC) bank. The
family’s shares in the NIC are held
through First Chartered Securities
Ltd and ICEA Assets Management Ltd
whose directors are the late
Ndegwa sons, James and Andrew. In the
past one year, the Ndegwas wealth
grew by Sh2.84 billion from Sh4.6
billion to Sh7.46 billion.
3) Dr James Mwangi
With a 3.45 per cent shareholding, Dr
Mwangi is the biggest individual investor
in Equity Bank. In the period under
consideration, his wealth in the bank
grew by Sh1 .81 billion from
Sh2.64billion to Sh4.46billion. The
Equity Bank boss is also one of the
biggest shareholders in life insurance
firm, Britam, where his wealth grew by
Sh187.5 million from Sh438.7million
to 626.2million.
4) Chris Kirubi
The industrialist and media owner’s
investment in the NSE is through
the Centum group. He was also the
third largest shareholder in the Kenya
Power company but has since sold his
shares to Mama Ngina Kenyatta. In
Centum, Kirubi’s investment grew by
Sh1 .41 billion while his worth in Kenya
Power grew by Sh39 million to Sh269.9
million from Sh230.9 million.
5) Moi family
Former President Moi’s most visible
investments at the NSE are in
Standard Chartered Bank and the
Standard Media Group. In Standard
Chartered where his shareholding is
held under Kabarak Ltd, his wealth grew
by Sh387.7million from Sh568.8million
to Sh956.5million. In the
Standard Media Group where his shares
are held under SNG (Standard
Newspaper Group) holdings, his
investments increased by Sh409million
from Sh1 .297billion to Sh1 .7billion.
6) Jimnah Mbaru
Mbaru’s flagship business is the
securities brokerage firm, Dyer and
Blair. He is also a major shareholder in
Britam and Transcentury Group where
his wealth grew by Sh690.5 million. In
Britam, his investments grew
by Sh548.2 million from Sh1 .28 billion
to Sh1 .83 billion, while in
Transcentury his wealth increased by
Sh145.2million from Sh581million to
Sh726 million.
7) Peter Munga
The Equity Bank founder chairs the
bank’s board where he is listed
among the top 10 largest stock owners
with a 0.61 per cent shareholding. In
Equity, his wealth grew by
Sh319.4million from Sh465million to
Sh784 million while he increased his
worth in Britam by Sh187.5million from
Sh438.7million to Sh626million.
8) Benson Wairegi
The chief executive of Britam, Wairegi,
joined the firm fresh from
university rising up to his current
position. He is one of the biggest
shareholders in both Britam and Equity
Bank where his wealth increased by
Sh380million. In Britam, his
investments increased by
Sh250.7million from Sh586.7million
to Sh837.4million while his Equity Bank
stake increased by Sh129.3million
to Sh317.6million from Sh186.3million.

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