5 Kenyan politicians who are big in business, companies they own and net worth
- Kenyan politicians have invested in various sectors, including real estate, banking, mining, and agriculture
- According to a 2014 New World Wealth Report, people with political connections own more than 50% of Kenya’s wealth
- President Uhuru Kenyatta and his deputy, William Ruto are some of the politicians who have made it big in business although some reports claim they acquired wealth illegally
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Politicians in Kenya own and control a huge chunk of the country’s wealth.
Indeed, a 2014 New World Wealth report showed that people with political connections owned more than 50% of Kenya’s wealth.
Politicians have invested in various sectors, including real estate, banking, mining, and agriculture.
TUKO.co.ke lists some of the prominent politicians who have also been successful in business.
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1. Uhuru Kenyatta
President Uhuru Kenyatta is the scion of the Kenyatta family.
As the head of the family, Uhuru and his mother, Mama Ngina have invested across all the sectors of the economy.
In May 2021, Uhuru was ranked the fourth highest-paid leader in Africa with annual pay of KSh 20.9 million.
Uhuru’s net worth is estimated at US$650 million (KSh 72.5 billion).
In 2011, Forbes ranked him among the 40 wealthiest Africans.
List of companies they own:
- NCBA Group PLC (13.2%).
- Mediamax Group.
- Brookside Dairies.
- Heritage Group of Hotels.
- Timsale Holdings
- Beta Healthcare
A new leak dubbed the ‘Pandora Papers’ exposed how President Uhuru and his family secretly accumulated wealth from their offshore companies.
Some of the companies mentioned
- Milrun International Ltd.
- Varies Foundation.
- Criselle Foundation.
- Valberg Foundation.
- Wesmar Finance Ltd.
- Galanes Finance Ltd.
- Hawkings International Ltd.
- Leonor Estates Inc.
- Pictor Finance Ltd.
- MaClay Foundation.
2. William Ruto
Deputy President William Ruto has often described himself as a certified hustler who fits the grass to grace tale.
Ruto said through hard work, he rose from selling chicken and groundnuts along the Eldoret-Malava highway to his current status.
Businesses owned by Ruto
- Weston Hotel, Nairobi.
- Dolphine Hotel, Mombasa.
- Koitalel Poultry Farm, Eldoret.
- Kwae Island Development Limited, Wilson Airport (2 hangers and 5 helicopters).
- Shares at Safaricom (400,000).
- Murumbi Farm in Transmara, Narok county (395 hectares).
- ADC Laikipia Mutara Ranch (15000 acres).
- Mata Farm (2537 acres) in Taita Taveta.
- Kitengela Gas.
The DP said he owned 70% of the properties mentioned.
His net worth is estimated at KSh 44 billion.
3. Raila Odinga
Former prime minister Raila Odinga is a seasoned politician who has been in active politics for close to 40 years.
He is the son of former vice president Jaramogi Oginga Odinga.
Raila generated his wealth from politics, business in oil and gas, land, manufacturing and other ventures.
His net worth is estimated at over KSh 55 billion. However, in January 2020, he stated that he is worth KSh 2 billion.
List of companies he owns
- Spectre International Ltd.
- East African Spectre.
- Pan African Petroleum Company.
4. Gideon Moi
The Baringo senator is the youngest son of late Kenya’s second president, Daniel arap Moi, and Lena Moi.
The KANU chairman who has set his eyes on the 2022 presidency has been in active politics since 2003 and was reported to be Moi’s favourite son.
With investments in ranches, real estate and agriculture, and other sectors, the soft-spoken lawmaker has a net worth estimated at US$500 million (KSh 555.7 billion).
List of companies owned by Moi family
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- Shares in Trans-National Bank, Equatorial Bank, First American Bank, Giro Bank ‚ Giant Forex Bureau, Equity Stock Brokers and Sovereign Group.
- Shares in Standard Media Group.
- In the transport industry, they have interests in Siginon Group, Kent Ship, Eagle Airlines, Kenya Aerotech Ltd, Car Track Kenya Ltd, CMC Holdings.
- Sielei Properties Ltd and Regent Management (real estate).
- Agriculture sector: Kiptagich Tea Estate in Olenguruone, Nakuru, Sasine Group of farms, Fresh Produce Ltd, Chemusian Company, Sian rose and Tobacco farm in Malawi.
- Telecommunications: Shares in telecommunications company Safaricom, interests in Chesco Ltd and Cable Wireless.
- Education: Moi Education Centre (Nairobi), Sacho High School (Baringo), Kabarak University (Nakuru), Kabarak High School (Nakuru), Sunshine National School (Nairobi), and Moi Africa Institute Kabarnet Gardens.
- Sheraton Holdings and Safari Club.
- Huge tracts of land (over 100,000 acres).
5. Jimmy Wanjigi
The main figure of the Jimmy Wanjigi family is their patriarch, Maina Wanjigi, who served as a Cabinet Minister and a legislator in the Moi government.
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Though he denies having directly done business with the government, he is privileged to have had access to multi-billion government tenders.
Companies associated with the 2022 presidential aspirant:
- Kwacha Group of Companies.
- TYL company, Mann Island.
- Flat in Park Lane, London.
- Bolt holes in the United Arab Emirates.
- Homes in Zurich.
- A fleet of choppers.