Kenya’s energy sector has experienced substantial growth over the years, with gas emerging as one of the fastest-growing energy sources in the country. The rising demand for gas can be attributed to its affordability, convenience, and reliability compared to other energy sources.
As a result, numerous gas companies have been established to meet this growing demand, with some owned by prominent Kenyan billionaires. In this article, we will highlight some of the notable tycoons who own gas companies in Kenya.
Mohammed Jaffer
Mohammed Jaffer is the founder of MJ Group, Africa’s largest provider of cargo handling services at the port of Mombasa. In 2017, Jaffer launched Pro-Gas, which has quickly become a market leader in the Kenyan gas sector due to its affordability and widespread availability. Pro-Gas is sold under Proto Energy Limited, a subsidiary of Africa Gas and Oil (AGOL), also owned by Jaffer. With a vast empire worth an estimated $1 billion, Jaffer’s ventures in the gas industry have significantly contributed to his success in the energy sector.
Ahmed Hashi
Ahmed Hashi, another billionaire, owns Hashi Energy Limited, formerly known as Hashi Empex Limited. This petroleum empire is valued at over $50 million. Hashi began his business journey as a kerosene distributor for Chevron Kenya and later expanded into the gas market with the Hashi gas brand. Over the past three decades, Hashi Energy has established itself as a significant player in Kenya’s gas industry.
Peter Macharia Kariuki
Peter Macharia Kariuki is the proprietor of the Jamii Gas brand, which supplies gas across various parts of Kenya from its base in Nairobi. Kariuki’s company has gained a considerable market share thanks to its reliability and affordability. Although not as widely recognized as some of his billionaire peers, Kariuki’s achievements in the gas industry have contributed notably to his wealth.
President William Ruto
President William Ruto is also a notable figure in Kenya’s gas industry. According to documents presented in parliament by Interior Cabinet Secretary Fred Matiang’i, Ruto owns Kitengela Gas, a company that benefits from round-the-clock security provided by six police officers. The success of Kitengela Gas has added to Ruto’s wealth, complementing his prominent political career.
Raila Odinga
In December 2021, Raila Odinga revealed that he once sold a German car for Sh 12,000 to fund the start of East Africa Spectre, a gas cylinder manufacturing plant. Today, East Africa Spectre is a leading producer and verifier of LPG cylinders in East and Central Africa, valued at over Sh500 million. Raila’s entrepreneurial efforts have allowed him to dominate the LPG cylinder market in the region.
The gas industry in Kenya has seen substantial investment from local billionaires, contributing significantly to the growth of the country’s energy sector. The increasing demand for gas, driven by its affordability and convenience, has led to the establishment and success of several gas companies. These investments not only bolster the economy but also ensure a reliable energy supply for the nation.
