Tag: Uhuru Kenyatta

Uhuru Kenyatta net worth, wealth source, businesses & properties owned

Posted on by Bantu Editorial

Uhuru Kenyatta is one of the richest citizens in Kenya. His family has been linked to politics and different business interests in media, dairy farming, banking, insurance, land, and hospitality.

Uhuru Kenyatta is married to Margaret Gakua and he is approximately 1.85m tall. He was born in Nairoi Kenya on the 26th Octobe 1961. He is currently 62 years old.

Uhuru Kenyatta has been a Member of Parliament for Gatundu Constituency (2002-2013). He has also served as the Deputy Prime Minister in the Grand Coalition government. In 2013, he was elected as Kenya’s 4th President.

It is no surprise that Kenyans are interested in knowing Uhuru Kenyatta’s net worth because of his past roles in the Kenyan politics.

Uhuru Muigai Kenyatta, who has three children (Jaba, Jomo, and Ngina), has a net worth of an estimated $530 million.

Uhuru Kenyatta business ventures

As noted earlier, Uhuru Kenyatta businesses are spread in the media industry, dairy, insurance & banking sectors, and land holdings.

Below is a detailed list of the properties that Uhuru Kenyatta owns:

Land holdings

The Kanyatta family is perhaps the largest land owner in Kenya, with vast racts of land in several different areas of the country. The exact size of the land is not known. After inheriting huge chunks of land from his father Jomo Kenyatta, the first president of Kenya, Uhuru has also acquired huge pieces of land in Kenya. Before leaving office, Uhuru Kenyatta bought a 1,000 acre ranch in Oloolmongi, Lolgorian district. He is believed to have retired to Narok County. The ranch is a great viewing place for the Great Wildebeest Migration.

In 1978, when Jomo Kenyatta died, the CIA made a report on the land holdings of the Kenyatta family.  The report stated:

(Jomo) Kenyatta himself owned only about a half-dozen properties covering roughly 4,000 hectares, mainly farms in the Rift Valley and in the district of Kiambu where he was born. His wife, Mama Ngina Kenyatta, however, owns at least 115,000 hectares including a 13,000 hectare ranch in the Kiambu district, two tea plantations at Matu and Mangu, and three sisal farms near the Tanzanian border. She also has considerable holdings in the resort areas around Mombasa and is involved in coffee plantations and in the Kenyan ruby mines.

Real estate property

Uhuru Kenyatta net worth is boosted by investments in real estate. While it is not known how much real estate the Kenyatta family owns, the Pandora Papers leak in 2021 revealed that one of the family’s companies bought a prime apartment in central London. The UK Land Registry valued the property at around $1.3 million. It is believed that Emma Ann Hardy, a British MP rents the property. Her spokesperson said that she has no knowledge of who owns the property.

Offshore accounts

The Uhuru Kenyatta family also has numerous offshore investments. The Pandora Papers revealed that the family owns companies with stocks and bonds valued at $30 million, which is about KES4.5 billion.  The Kenyatta family also has registered companies and foundations in Panama, a tax haven for the super rich.

Mediamax

Mediamax is the media holding of the Kenyatta family. Mediamax brands include K24, the People’s Daily, and Kamene FM. The company was founded by Rose Kimotho whose company defaulted a bank loan and she had to give up the property.

NCBA Group

NCBA is one of the companies owned by the Kenyatta family. NCBA is Kenya’s third largest bank by asset value and the Kenyatta family owns a 13.2% stake in the group. The family receives dividend payouts of more than KES625.5 million as per reports in the recent past. The Kenyatta family had stakes in the Commercial Bank of Africa, which merged with NIC Bank to form NCBA Group. The merger was completed via a share swap with NIC shareholders remaining with 47% while the CBA shareholders including the Kenyatta family owned 53% of the merged entity. This revenue highly boosts the Kenyatta family net worth.

Brookside Dairy Limited

Brookside Dairy has a 45% market share in the dairy products in Kenya. The company generates revenues in the billions of shillings. However, Danone acquired a 40% stake Brookside.

Heritage Group

The Heritage Group of Hotels is a chain of high end hotels in Kenya. Its assets include Voyager camp and beach resourt in Tsavo and Mombasa, Kipungani Explorer on Lamu island, Intrepids camps in Samburu and the Maasai Mara, Golf Hotel in Naivasha, The Great Rift Valley Lodge and Mara Explorer camp.

It is evident that the Uhuru Kenyatta net worth is an inspiration for many wealth enthusiasts as well as an envy for many.

Uhuru’s retirement ranch in Narok cost billions

Posted on by Bantu Editorial

After the August 2022 elections and subsequent Ruto’s win, President Uhuru had to go home as he always told Kenyans. He said that he would go home with whoever loses the presidential poll.

Many Kenyans, especially those allied with the then Deputy President William Ruto, spew online trolls against President Uhuru. They reminded him that he would soon be a “normal” citizen away from the spoils of power. They were wrong. While most people though Uhuru would go to his ancestral home in Ichaweri, he chose a different destination: Narok County.

Uhuru’s Narok ranch is worthy Ksh2 billion

Just a few days after Ruto’s swearing in, Uhuru was spotted in Narok Town and many Kenyans, unaware that he was the newest county resident wondered what he was doing there. According to critics, Uhuru acquired the ranch he is currently living in for Ksh2 billion. That is more than the net worth of your whole village. But, it shouldn’t come as a surprise because Uhuru is among the richest people in Kenya. His father was the first president of the republic of Kenya, and he amassed a lot of wealth in form of land and businesses. Moreover, Uhuru was awarded KSh35 million as gratuity, calculated as a sum equal to one year salary for each term served as president.

The former former president will also be receiving a monthly pension equal to 80% of his monthly presidential salary- which is KSh 1.1 million, monthly allowances comprising Ksh 330,000 for housing, Ksh 216,000 for transport, Ksh 300,000 for utilities, and Ksh 216,000 for entertainment.

 

5 richest Kenyans in 2022

Posted on by Bantu Editorial

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.

CJ Martha Koome asks for the impeachment of President Uhuru

Posted on by Bantu Editorial

In court papers, CJ Koome stated “It is proposed that the court makes a declaration that the President… is in violation of Articles 3(1) and 166(1)(b) of the Constitution. A declaration that the appropriate remedy for the violation of Articles 3(1) and 166(1)(b) of the Constitution is the impeachment of the President or any other order that secures direct accountability of the President.”

This comes following the outright refusal of the President to swear in six of the forty judges appointed by the Judicial Service Commission.

Although the courts ordered Uhuru to swear in the said judges, the president has not acted on such orders. The courts also asked the CJ to swear in the judges should the President still refuse to do so.

In an appeal to the Court of Appeal, the CJ wants the courts to direct that the solution to the actions of the President should be impeachment.