Meet Lady Billionaire Who Owns The Waterfront Mall In Karen

Muguku’s dissatisfaction with his job led him to make a bold decision: he resigned. However, this choice was met with disapproval and even mockery from those closest to him, including his parents and boss.

At the time, Muguku was in his mid-20s and decided to start a chicken farming business with minimal resources—a mere Ksh2,000, two hens, and a cock. It was during this period that he proposed to Wanjiku, who happily accepted.

Over the years, Muguku and Wanjiku had seven children together. In 1963, Wanjiku left her teaching position to join her husband in running the family poultry farm. Little did they know that this joint venture would turn into a highly successful enterprise, eventually making them two of the wealthiest individuals in Kenya.

After just two years in the poultry industry, they managed to save enough money to purchase a 2-acre farm, which they named Star Ltd. On this property, they set up a 9,000-egg incubator to establish their hatchery. As time passed, the farm became known as Muguku Poultry Farm, gaining recognition from prominent figures like Kenya’s first Prime Minister, Mzee Jomo Kenyatta, and the last Governor of the colonial era, Sir Malcolm MacDonald, who received day-old chicks and eggs from their farm.

When Muguku passed away in October 2010, he owned a remarkable 6.08 percent stake in a local bank, which, at that time, was not publicly traded. Over the course of several years, he had become the bank’s largest single shareholder.

Wanjiku, on the other hand, earned her place as one of only 23 female billionaires in Kenya, according to Knight Frank’s 2018 edition. She is rumored to possess a Ksh1.2 billion (0.9% interest) in a local bank.

Wanjiku also had a successful career as a trader on the Nairobi Stock Exchange, once ranking as the second highest-ranking woman among active traders. Notably, she recently completed a trade worth Ksh306.9 million. Apart from her financial ventures, Wanjiku owns a prestigious shopping complex in Nairobi’s upscale Karen area, known as the Waterfront, valued at Ksh3 billion. The mall’s owners take great pride in providing customers with a superior shopping and living environment.

The Waterfront boasts an impressive total of 7 acres of waterfront landscaping, with 3 acres specifically dedicated to the artificial lake itself.