Oxfam released a report of the richest Kenyan people in 2022. They also revealed an estimation of their net worth. It is interesting to note how you rate against these individuals. Kenya is indeed a country with high inequality index.
Kenya’s wealth is increasingly concentrated in the hands of Asians, which is a reflection of the social status inflicted by the colonialists. The British considered themselves superior to the both Asians and Africans. However, Africans were placed at the bottom.
Today, however, some industrialists are breaking into the ranks of the super-rich in Kenya.
The report showed that Sameer Naushad Merali held onto his title of Kenya’s richest man with a net worth of $790 million (Sh89.6 billion). Bhimji Depar Shah rose one spot to take second place with a net worth of $790 million (Sh89.6 billion).
Among the biggest movers for 2019 were Jaswinder Singh Bedi 680 million (Sh77.1 billion) and Mahendra Rambhai Patel ($430 million/Sh48.7 billion), whose family owns Ramco Group, a conglomerate with interests in print, hardware, manufacturing, office supply and property sectors.
“Between 2016 and 2021, the number of individuals with wealth over $50 million increased from 80 to 120. Their combined wealth increased from $12.73 billion to $17.4 billion, an increase of 36.8 per cent, adjusted for inflation,” the wealth study report noted.
1. Sameer Naushad Merali
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
he 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, and Gentle Care.
3. Jaswinder Singh Bedi
He is running one of the largest textile factories in the country.
4. Uhuru Kenyatta
Uhuru Kenyatta has interests in many sectors of the Kenyan economy. Uhuru Kenyatta’s net worth is attributed to banking, milk processing, transport, media, hospitality and land.
5. Mahendra Rambgai Patel
His family owns Ramco Group, a conglomerate with interests in print, hardware, manufacturing, office supply and property sectors.
