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List of 7 MURANG’A Billionaires Who Come From One Village

Rwathia Village, located in Kangema, Murang’a County, could be considered the wealthiest area in Kenya due to the fact that several Kenyan billionaires originate from there. Equity Bank Chairman Peter Munga, CEO James Mwangi, investment banker Jimnah Mbaru, and Britam boss Benson Wairegi are among the notable business leaders who hail from the village. The trio of Munga, Mwangi, and Wairegi have collaborated to accumulate their wealth, sharing board directorship in companies such as Equity, Britam, and Housing Finance. They also own billions of shares in various sectors of companies listed on the Nairobi Stock Exchange.

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According to Munga, the key to running a successful business is to know the business and stay focused, and eventually, everything will fall into place. In an interview with a local newspaper, he disclosed that there were no brokers among them, and they conduct their business in a gentlemanly manner. They follow an unspoken rule that guides how they relate to each other in both business and personal life, which is why they never quarrel in public.

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Munga founded Equity Building Society (EBS) in 1984 in his hometown of Kangema before it became Equity Bank in August 2014. Mwangi is the current Group Managing Director and Group Chief Executive Officer of the Equity Group Holdings Limited. Wairegi is the current Group Managing Director and Group Chief Executive Officer of British-American Investments Company (Britam), while Mbaru is the chairman and chief executive at the Dyer and Blair Investment bank, where he owns a majority stake.

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Gerald Gikonyo and Gerishon Kirima, co-founders of Rwathia Distributors, were successful despite limited education. They control the Rwathia groups of businesses, which include prime properties in Nairobi. According to Dr. Bitange Ndemo’s 2014 article, “The Mystery of Success,” Rwathia controls almost 20% of Kenya’s Gross Domestic Product (GDP) and nearly half of the stock market in the country. The village’s third generation is succeeding not only in Kenya but also in far-flung areas such as the United States.