Proving that there is no shortcut to success, some tycoons have exhibited grit, persistence, and good old hard work in order to establish themselves among the top tier class in their respective fields. Their storied careers and immense wealth have caught the attention of Forbes – with some of the tycoon’s companies valued at Ksh7 billion ($70 million).
Here is a look at five media-shy billionaires who control lucrative sectors in Kenya:
Bharat Thakrar
Bharat Thakrar embodies a rags-to-riches story with his company, SCANAD, which grew to become a multibillion firm. After finishing high school in India, Thakrar returned to Kenya and was offered a position at his father’s company, Skyline Advertising Agency, the largest advertising agency in Kenya at the time. The young lad rose through the ranks in his first year at the company but was forced to seek another job after the company folded. At his new company, Advertising Associates, he oversaw the launch of Close-Up toothpaste, Blue Band, and Royco Mchuzi Mix products. He later ditched the job and resorted to start his own company, SCANAD, with a friend. Putting in the long hours, Thakrar grew the company which was later acquired by WPP, a British multinational advertising and public relations company. As of 2017, Forbes Magazine pegged the value of the company at about Ksh7 billion ($70 million).
Jane Wangui Njuguna
The business mogul has established herself as a dominant figure – being ranked as one of the 23 women billionaires, who are worth more than Ksh3 billion in Kenya. She, alongside her husband, acclaimed banker James Mwangi, has amassed wealth in the course of their careers. Wangui is said to own Ksh3.7 billion worth of shares at the bank her husband serves as CEO and one of Kenya’s largest insurance companies. Together with businessman Peter Munga, she runs an investment vehicle called Filimbi Limited. The company, established in 2011, operates in the Investment Service sector. Njuguna has also invested in other businesses and sectors such as real estate as well as hospitality.
Humphrey Kariuki Ndegwa
Over the course of the past three decades, Ndegwa has established his company, Janus Continental Group, as one of the largest companies in East Africa. Ndegwa started out as a civil servant working at the Central Bank of Kenya. He later moved to entrepreneurship, initially running the Green Corner Restaurant in Nairobi CBD before expanding into other sectors including wines and spirits imports and petroleum. The tycoon also owns The Hub Shopping Mall in Karen, Nairobi, as well as running companies in various sectors such as petroleum industry, commercial drink industry, and energy industry. His reach extends to operations running in South Africa, and collectively his businesses have employed more than 3,000 Kenyans and foreign nationals.
Stephen Jennings
Hailing from New Zealand, Jennings reportedly fled from Europe to start a multibillion company
