Top 10 richest people in Kenya

top 10 richest people in Kenya

Top 10 richest people in Kenya

According to a report by Oxfam International, a global charity organisation that fights inequality, the top two richest Kenyans had a net worth higher than the combined wealth of 16.5 million citizens—highlighting the massive gap in fortunes between the country’s haves and the have-nots.

What is more interesting is 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.

Below is a list of the Top ten Richest People in Kenya:

1. Sameer Naushad Merali

Merali is Kenya’s wealthiest individual, with a net worth of $790 million (Sh89.6 billion).

According to Oxfam International, Merali became the wealthiest Kenyan after inheriting the wealth left behind by the late Naushad Merali.

Merali built his wealth from diverse investments, including telecommunications, manufacturing, agriculture, banking and real estate.

2. Bhimji Depar Shah

Shah follows Merali closely in second place with a net worth of $790 million (Sh89.6 billion). Shah’s Family owns manufacturing conglomerate with businesses in 13 African countries.

The Bidco Group founder built his wealth from businesses in manufacturing consumer goods, including famous brands such as

  • Noodies Instant Noodles
  • Planet Soda
  • Kimbo cooking fat
  • Gentle Care

3. Jaswinder Singh Bedi

Oxfam ranks textile manufacturer Jaswinder Singh Bedi as the third wealthiest person in Kenya for his work in running one of the largest textile factories in the country.

The Kenya Private Sector Alliance (KEPSA) also appointed Jaswinder Bedi as its new chairman in 2021.

Bedi who was appointed during KEPSA’s 19th Annual General Meeting (AGM) held Thursday succeeded Flora Mutahi for the two year term.

His net worth is estimated at $680 million (Sh77.1 billion).

4. Uhuru Kenyatta

Reports rank former President Uhuru Kenyatta as Kenya’s fourth wealthiest person with a net worth of $530 million (Sh60 billion).

The report added that the wealth is likely associated with the wider Kenyatta family, who retains interests in various sectors, including

  • Banking
  • Milk processing
  • Transport
  • Media
  • Hospitality
  • Land

5. Mahendra Rambgai Patel

Patel is ranked as the fifth richest Kenyan, with a net worth of $430 million (Sh48.7 billion).

Patel’s family owns Ramco Group, a conglomerate with interests in print, hardware, manufacturing, office supply and property sectors.

6. Narendra Raval

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

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

During an interview at some point, Former Prime minister Raila Odinga claimed that he is only worth KES 2 billion a statement that observers think he is worth more, $250 million.

He has stakes in East African Spectra and Pan African Petroleum Industrial Services, among other investments. He is also notable for owning luxurious mansions in Mombasa, Karen, and Kisumu.

9. James Mwangi

James Mwangi is the CEO and MD of Equity Group, founded by Peter Munga. He has an estimated worth of $170 million.

Mr. Mwangi might not own Equity bank, but he is one of the highest-paid MDs in Kenya, averaging millions a month.

10. SK Macharia

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.

Richest Women in Kenya

1. Mama Ngina Kenyatta

The former first lady Mama Ngina Kenyatta is not just the richest woman in Kenya but the richest overall.

Her estimated net worth is around $1 billion which cuts 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

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.

She has an estimated Net Worth of $1 Billion.

Jane Wanjiru Michuki tops 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. Tabitha Karanja

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.

She has a daughter (Anerlisa Muigai) who is among the wealthiest kids in Kenya, whose weath has continued accumulating from her water company Nero and other investments.

4. Jane Wangui Njuguna

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 

Dr. Catherine Nyongesa, an oncologist by trade, is the co-founder of Texas Cancer Center. The other co-founder is her US-based husband, Samson Watta.

She is a lecturer at Nairobi University and chairs the Kenya Society of Hematology and Oncology (KESHO).

While her net worth is unclear, KRA recognizes her as one of the fewest top richest people in Kenya with an annual income of Ksh 350 million – Ksh 1 billion, and among the richest doctors and women in Kenya.


In conclusion, the top 10 richest people in Kenya exemplify diverse paths to success, contributing significantly to the nation’s economic landscape. While celebrating their achievements, it’s crucial to address wealth inequality and promote inclusive growth. These individuals serve as inspirations and reminders of the ongoing dialogue surrounding equitable prosperity in Kenya.


1. Richest man in Kenya

Sameer Naushad Merali- $790 million

2. Richest woman in Kenya

Mama Ngina Kenyatta- $1 billion

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