Wealthy Kenyan Families With Investments in Major Sectors

Kenya has undergone remarkable progress since gaining independence, evolving from a colonial state to a developing nation and eventually becoming a lower-middle-income economy.

The transformation has been stimulated by determined go-getters, male and female alike, who saw plenty of prospects within their motherland. Kenya has long been celebrated as a place where ambitious individuals thrive. Mainstream sectors have expanded, going beyond heavy reliance on agriculture. Driven by zeal, numerous Kenyans have seized gambits in various sectors to bolster national prosperity and escalate economic advancement. An especially favoured sector has been manufacturing. Shrewd Kenyan entrepreneurs have lent strengths to this industry due to a recognition of its monumental development possibilities, resulting in significant profits for savvy businesses.

Biwott Family

Kenyans prove to be proficient and successful in not only manufacturing but also diverse industries. The late politician Nicholas Biwott, who served in various governmental positions under President Daniel Arap Moi, left behind a considerable fortune for his extensive family upon his passing in July 2017. He earned the nickname “Total Man” and represented Keiyo South as a Member of Parliament for 28 years.

Throughout his career, he built an extensive financial portfolio, comprising significant stakes in wheat and maize production, manufacturing, oil production, and banking enterprise. His acumen and success in business were lauded by Ventures Financial magazine and listed among Africa’s top 50 billionaires. Besides, he enjoyed a noteworthy position in an oil marketing company and owned HZ Company dealing in road contracts. Additionally, he held shares in telcos, banks, and air travel companies across multiple countries. Following his demise, his wealth was split amongst his seven children. Recently, the Biwott Family decided to sell Yaya Centre, one of their business ventures, to the Kantaria family.

Chandaria Family

Manu Chandaria, a well-known industrialist, founded the Comcraft Group in 1956. This conglomerate, which spans three continents, now employs over 40,000 people and is focused on manufacturing steel and aluminium products. Manu’s brother, Mahesh Chandaria, oversees Chandaria Industries, a prominent empire in the home products industry. The Chandaria family’s influence extends beyond these endeavours and into various sectors such as banking, real estate, mining, and car manufacturing.

Kenyatta Family

The Kenyatta family, responsible for producing two of Kenya’s five presidents, is widely regarded as the wealthiest family in the country. The family’s prosperity cuts across all facets of the economy, affirming their dominance and impact.

The bulk of the properties owned by this family fall under the hospitality industry. These include the Heritage Hotel East Africa, Mara Explorer Camp, Intrepids, Great Rift Valley Lodge, and Voyager Resort in Mombasa.
In addition to their ventures in the hospitality industry, they also have interests in Agriculture (Brookside Dairies), Health (Beta Healthcare), Media (Mediamax Group), and Financial Services (NCBA). According to Wealth X, retired President Uhuru Kenyatta’s wealth stood at Sh60 billion in 2022.

Kantaria Family

The Kantaria Family can be considered as having a long-standing wealth. Rasik Kantaria, the most well-known member, attributes his family’s prominence to his grandfather’s decision to move from India to Kenya. Upon arriving in Kenya, the elder Kantaria settled in Limuru, laying the groundwork for the family’s extensive wealth and influence in the country’s hospitality industry.

Following in his grandfather’s footsteps, Rashik established Prime Capital and Credit Finance Company, which eventually expanded into a network of commercial banks throughout Kenya and Africa.

Rai Family

The Rai Family brings our attention to Jaswant Rai who made the news when President William Ruto threatened him for obstructing reforms in Mumias Sugar through legal channels. Hailing from India, they have settled in Kenya for years like the Kantaria Family. The family business venture began in 1963 with Tarlochan Singh and his brother acquiring tea and coffee farms in Congo.

The Rai family’s business empire has grown extensively beyond the sugar sector. Their investments now span countless sectors from agriculture and real estate to manufacturing, timber, sawmilling, and edible oils.