Kenya’s wealthiest people rarely make headlines the way Silicon Valley billionaires do, and there’s a real reason for that. Most of the country’s biggest fortunes sit inside privately held conglomerates and family trusts rather than public stock listings.
Bhimji Depar Shah, the founder of Bidco Africa, tops the list with an estimated net worth of $420 million. Here is the full breakdown of who else made the cut and how they built their fortunes.
Why Kenya Has No Official Forbes Billionaires
Global tracking indexes like the Forbes Billionaires List currently feature no official dollar-billionaires from Kenya. This is not because the wealth doesn’t exist, but because the vast majority of it sits in privately-owned conglomerates, real estate, and family trusts rather than publicly traded shares that are easy to value.
Instead, tracking agencies like Henley and Partners, in partnership with New World Wealth, monitor private assets and local market investments to estimate these fortunes. Their 2025 Africa Wealth Report found Kenya home to at least 16 centi-millionaires, individuals worth over KSh 12 billion each, placing the country among Africa’s elite wealth hubs alongside a broader base of roughly 330 multimillionaires and 8,300 high-net-worth individuals.
Ranked by the Numbers
Net Worth: $420 Million (KSh 54.2 Billion)
Source: Manufacturing (Bidco Africa)
Net Worth: $240 Million (KSh 31.0 Billion)
Source: Steel and Cement (Devki Group)
Net Worth: $220 Million (KSh 28.4 Billion)
Source: Diversified (Sameer Group)
Net Worth: $210 Million (KSh 27.1 Billion)
Source: Banking, Real Estate, Agriculture
Net Worth: $180 Million (KSh 23.2 Billion)
Source: Financial Services (NCBA Group)
Net Worth: $100 Million (KSh 12.9 Billion)
Source: Media, Aviation, Banking
Net Worth: $60 Million (KSh 7.7 Billion)
Source: Energy, Hospitality (Janus Continental)
Net Worth: $50 Million (KSh 6.5 Billion)
Source: Retail (Naivas Supermarkets)
Key Asset Profiles of Kenya’s Wealthiest
Bhimji Depar Shah founded Bidco Africa in 1970, originally as a garment manufacturer before pivoting into soaps in 1985 and edible oils in 1991. Today the company ranks as Kenya’s leading edible oil producer, generating over $300 million in annual revenue and distributing products across 13 to 17 African nations depending on the source. His son, Vimal Shah, now serves as CEO while Bhimji remains chairman.
Narendra Raval, known affectionately as Guru, controls the Devki Group, East Africa’s largest roofing sheets, cement, and steel manufacturing empire, with annual revenues reportedly exceeding $600 million. He arrived in Kenya as a teenager with limited resources before building his fortune through decades of disciplined manufacturing investment.
Zarin Merali, following the passing of tycoon Naushad Merali, now stewards the Sameer Group alongside family, a massive conglomerate with interests spanning telecommunications, commercial real estate, agriculture, and construction.
Mama Ngina Kenyatta, matriarch of the prominent Kenyatta political dynasty, holds significant land tracts alongside major stakes in NCBA Group, Brookside Dairy, and Heritage Hotels.
The Philip Ndegwa Family, descendants of the former Central Bank of Kenya Governor, manage a premier financial portfolio highlighted by a dominant 14.94 percent stake in NCBA Group.
Mary-Ann Musangi, daughter of the late billionaire Chris Kirubi, inherited and currently manages premium stakes in Centum Investment and Haco Industries.
David Kimani Mukuha represents the founding family behind Naivas Supermarkets, Kenya’s largest retail chain. The family unlocked significant liquidity by selling minority stakes to international institutional investors over recent years while retaining substantial control.
A Note on These Estimates
Net worth figures for Kenya’s wealthiest individuals vary meaningfully across different tracking agencies, since privately held businesses rarely disclose audited financials publicly. Forbes last published an official estimate for Bhimji Depar Shah back in 2015, pegging him at $700 million, though no updated Forbes figure has followed since. The figures used here reflect the most recent Henley and Partners Africa Wealth Report data, cross-referenced against multiple 2026 industry publications reporting consistent numbers.
Read also:Top Paid CEOs in Kenya 2026: Who Earns the Most
Frequently Asked Questions
Who is the richest person in Kenya in 2026?
Bhimji Depar Shah, founder of Bidco Africa, holds the top spot with an estimated net worth of $420 million.
Why does Forbes not list any Kenyan billionaires?
Most of Kenya’s wealthiest individuals hold their fortunes in privately-owned conglomerates and family trusts rather than publicly traded shares, making standard billionaire tracking methods less applicable.
How many centi-millionaires does Kenya have?
Kenya is home to at least 16 individuals with fortunes exceeding KSh 12 billion, according to the 2025 Africa Wealth Report by Henley and Partners.
What industry produces the most wealth among Kenya’s richest people?
Manufacturing leads the list, followed closely by banking, financial services, and diversified conglomerates spanning real estate and agriculture.
Is the Moi family richer than any individual on this list?
Some broader estimates place the Moi family’s total wealth significantly higher than any single individual ranking, though this list reflects the Henley and Partners centi-millionaire figures specifically.
Conclusion
Kenya’s wealthiest individuals and families continue building their fortunes primarily through manufacturing, banking, and diversified private holdings rather than public stock markets. With figures like Bhimji Depar Shah and Narendra Raval leading a genuinely diverse group of industrialists, financiers, and inheritors, this list captures how private, family-controlled wealth remains the defining feature of Kenya’s richest class.
As tracking agencies like Henley and Partners continue refining their estimates each year, expect this ranking to shift gradually as new business ventures, inheritances, and market conditions reshape Kenya’s wealthiest circles.