The businessmen have substantially contributed to economic growth and employment creation in Kenya and beyond Among the tycoons from the region with diverse investments are SK Macharia, Pius Ngugi, Humphrey Kariuki and Simon Gicharu
From the vast media enterprises of SK Macharia to the varied portfolio of Ndegwa brothers, these businesspeople have made names for themselves in Kenya's economy. Along with amassing fortune, the tycoons have substantially contributed to economic growth and employment creation in Kenya and beyond.
Mt Kenya billionaires and their businesses 1. SK Macharia Samuel Kamau Macharia, famously known as SK Macharia, is the founder and chair of Royal Media Services (RMS), which owns three TV stations and over 10 radio stations. Besides RMS, Macharia has interests in Directline Insurance, Serenity Media Productions Ltd, Big Five Conservancy, Bushfire Media Distributors, Toi Redevelopment and Harbour Capital Ltd.
2. Simon Gicharu Gicharu founded Mt Kenya University and Equip Africa Institute, rising from a milk vendor to a successful businessman.
3. Ndegwa brothers.
James Ndegwa and his brother Andrew Ndegwa inherited a multi-billion empire left behind by their father, Philip Ndegwa. Philip was Kenya's third Central Bank of Kenya governor. He died on January 7, 1996, leaving behind the multi-billion wealth he had accumulated for over 30 years. Ndegwa was reportedly the first Kenyan to 'bank a billion'. As reported by TUKO.co.ke, among the shares in companies he owned, now controlled by his sons, are ICEA Lion Group, NCBA Bank, AMbank House, Unga Group and Inchcape Services Ltd.
4. Pius Ngugi Nairobi woman rep Esther Passaris's husband, Pius Ngugi, owns Kenya Nut Company, which exports macadamia and cashew nuts to various parts of the world. The tycoon is the proprietor of Thika Coffee Mills, which produces and exports special coffee. The billionaire has invested in the insurance sector with shares in the Kenya Alliance Insurance.
Ngugi is also a shareholder in the multi-billion Tatu City project, one of Kenya's special economic zones projects. 5. Peter Munga Peter Munga chairs the Mt Kenya Foundation. He founded Equity Bank (previously Equity Building Society) in 1984. Munga retired as the bank's chairman in 2018, aged 75. According to Forbes, Munga owns a 0.4% stake in the lender worth $ 5 million (KSh 657.5 million) after selling most of his shares. Besides Equity, he is a major shareholder in Britam Holdings (over KSh 500 million value) and Equatorial Nut Processors.
6. John Kinuthia Makumi's family John Kinuthia Makumi, nicknamed Mr Money, was a Kenyan billionaire with several investments. According to Who Owns Kenya, Makumi dropped out of school at 16 to focus on business, his passion. He began by buying and selling chicken bought from villagers in rural Kiambu. He saved the profits and invested in land and real estate.
Besides Lavington Mall, he owned Wangige Mall, the Zadar building in Wangige (Kiambu) and a building in Ngara (Nairobi). Before his death, he lived peacefully with his two wives, Irene Nyakio and Agnes Waringa, in the same house.
7. Humphrey Kariuki Humphrey Kariuki is the founder of Janus Continental Group, which brings together several companies in the petroleum, energy, hospitality and real estate sectors.
These include The Hub, Africa Spirits, Fairmont Mount Kenya Safari Club, Mount Kenya Wildlife Conservancy and Animal Orphanage, Dalbit Petroleum and Great Lakes Africa Energy. The group has employed over 700 people in more than 10 countries in East, Central and Southern Africa, United Arab Emirates (UAE) and Europe. Businesses owned by Indians In related news, among the top most affluent Kenyans are those of Indian descent who have built business empires across the country. Philanthropist Manu Chandaria runs the Comcraft Group of Companies.
